Alcoa Board Elects Klaus Kleinfeld President and CEO
Alcoa's Board of Directors has elected Klaus Kleinfeld,
50, President and Chief Executive Officer of the Company. He succeeds
Alain Belda, 64, as CEO. Mr. Belda will continue as Chairman of the Board.
Commenting
on the announcement, Belda said, 'In the short amount of time Klaus Kleinfeld
has been an Alcoan, he has made a significant difference for the company.
Our election of him to the position of CEO reflects our confidence in
him as a truly global leader, capable of continuing to capture the growth
opportunities ahead. Klaus has extraordinary energy, a keen understanding
of global issues, is committed to continuing the strong operating performance
of Alcoa, and embraces our Values. We are fortunate to have his leadership.'
Mr. Kleinfeld was named President and Chief Operating Officer of Alcoa
in August 2007. He has served as a director of Alcoa since 2003. The change
is effective immediately.
Prior to joining Alcoa, Kleinfeld served most recently as President and
Chief Executive Officer of Siemens AG, a global electronics and industrial
conglomerate. In just two years as President and President and Chief Executive
Officer of Siemens AG, Mr. Kleinfeld presided over a dramatic transformation
of the global electronics and industrial conglomerate. He reshaped the
company’s portfolio around three high growth areas, revenues increased
by more than $16 billion in 2006 alone, operating groups met ambitious
profitability targets, and the company’s market capitalization almost
doubled.
Prior to his service on the Managing Board of Siemens AG, Mr. Kleinfeld
was President and Chief Executive Officer of Siemens Corporation,
the U.S. division of the company. During his tenure, the United States
grew in both size and profitability, becoming the company’s largest
region. During his 20-year Siemens career, Mr. Kleinfeld also successfully
led one of Siemens global medical diagnostic businesses and developed
the renowned Siemens Management Consulting organization. He was also critical
to the creation of top+, the company’s operating system.
Mr. Kleinfeld earned a Master’s degree in Business Administration/Economics
from the University of Goettingen (Germany) in 1982. He received his Ph.D.
in Strategic Management from the University of Wuerzburg (Germany.)
Mr. Kleinfeld is a Member of the Board of Bayer AG. He also is a director
of a number of international and industry groups.
A marathon runner who also enjoys skiing, tennis and the arts, Mr. Kleinfeld
will reside with his wife and family in the New York area.
