Alcoa Board Elects Klaus Kleinfeld President and CEO

May 9, 2008
Alain Belda will continue as Chairman of the Board.

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. Kleinfeld was named President and Chief Operating Officer of Alcoa in August 2007.

Prior to joining Alcoa, Kleinfeld served most recently as President and Chief Executive Officer of Siemens AG. In just two years as Chief Executive Officer of Siemens AG, Kleinfeld presided over a dramatic transformation of the global electronics and industrial conglomerate. He reshaped the companys portfolio around three high growth areas, revenues increased by more than $16 billion in 2006 alone, operating groups met ambitious profitability targets, and the companys 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 Corp., the U.S. division of the company. During his tenure, the United States grew in both size and profitability, becoming the companys 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

Copyright Agence France-Presse, 2008

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