Alcoa (NYSE:AA) announced today that Klaus Kleinfeld has been
elected president and chief operating officer by the company's Board
of Directors. Mr. Kleinfeld, 49, served most recently as President and
Chief Executive Officer of Siemens AG, a global electronics and
industrial conglomerate. At Alcoa, he will have full responsibility
for all operating activities of the company. Mr. Kleinfeld has been on
Alcoa's Board of Directors since 2003 and will retain his position on
the Board. He will be based in New York and take over his
responsibilities on October 1, 2007.
Announcing the appointment, Alcoa Chairman and CEO Alain Belda
said, "Klaus has a proven track record of running successful complex,
international businesses. He is a seasoned leader who demands results,
and has a keen sense of the strategic challenges facing the company
through his work on the Board. Klaus is joining our team at a time
when we are achieving record top and bottom line results, and have
good prospects for the future. With Klaus as part of our strong
leadership team, Alcoa's future looks even brighter."
Alcoa's Lead Director, Frank Thomas said, "We have the highest
degree of confidence in our colleague Klaus, and are delighted that he
will take over day-to-day responsibility for the company's operations
and businesses."
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 both Bayer AG and
Citigroup. 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.
Alcoa is the world's leading producer and manager of primary
aluminum, fabricated aluminum and alumina facilities, and is active in
all major aspects of the industry. Alcoa serves the aerospace,
automotive, packaging, building and construction, commercial
transportation and industrial markets, bringing design, engineering,
production and other capabilities of Alcoa's businesses to customers.
In addition to aluminum products and components including flat-rolled
products, hard alloy extrusions, and forgings, Alcoa also markets
Alcoa(R) wheels, fastening systems, precision and investment castings,
structures and building systems. The company has 116,000 employees in
44 countries and has been named one of the top most sustainable
corporations in the world at the World Economic Forum in Davos,
Switzerland. More information can be found at www.alcoa.com
