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Kleinfeld Elected President and CEO of Alcoa (posted 5/22/08)

May 22, 2008
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Kleinfeld succeeds Alain Belda, who will continue as chairman of the board, as CEO.

Alcoa’s board of directors has elected Klaus Kleinfeld president and chief executive officer (CEO) of the company. He succeeds Alain Belda, who will continue as chairman of the board, as CEO. “In the short amount of time Klaus Kleinfeld has been an Alcoan, he has made a significant difference for the company,” said Belda. “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.”

Kleinfeld was named president and chief operating officer of Alcoa in August 2007 and has served as a director of the company since 2003. The change is effective immediately. Prior to joining Alcoa, Kleinfeld served most recently as president and CEO of Siemens AG. Prior to his service on the managing board of Siemens AG, he was president and CEO of Siemens Corp., the U.S. division of the company.

Kleinfeld earned a master’s degree in business administration/economics from the University of Goettingen (Germany) in 1982, and he received his Ph.D. in strategic management from the University of Wuerzburg (Germany). He is a member of the board of Bayer AG and a director of a number of international and industry groups.

Additional information can be found at www.alcoa.com.

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