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Kleinfeld Named Alcoa President and COO (posted 8/16/07)

August 16, 2007
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Alcoa recently announced that Klaus Kleinfeld has been elected president and chief operating officer (COO) by the company’s board of directors. Kleinfeld served most recently as president and chief executive officer (CEO) of Siemens AG. At Alcoa, he will have full responsibility for all operating activities of the company. Kleinfeld, who has been on Alcoa’s board of directors since 2003, will retain his position on the board. He will be based in New York and will 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.”

Frank Thomas, Alcoa’s lead director, said, “We have the highest degree of confidence in Klaus, and are delighted that he will take over day-to-day responsibility for the company’s operations and businesses.”

In two years as president and CEO of Siemens AG, Kleinfeld presided over a dramatic transformation of the global electronics and industrial conglomerate. He reshaped the company’s portfolio around three high growth areas, and revenues increased by more than $16 billion in 2006 alone, operating groups met ambitious profitability targets, and the company’s market capitalization almost doubled.

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

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

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