Pittsburgh, Pa., USA - April 24, 2010, Pittsburgh, Pa., USA - Alcoa, a producer of primary aluminum, announced that its has elected Klaus Kleinfeld as chairman and CEO.
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Mr. Kleinfeld succeeds Alain Belda who previously announced his plans to retire from the company after more than 40 years of service. Mr. Kleinfeld has been a member of the Alcoa Board of Directors since 2003. He joined Alcoa as an executive in October 2007 as President and Chief Operating Officer and was named President and CEO in May 2008. Previously he served as CEO of Siemens AG.
Frank Thomas and Henry Schacht also are retiring as directors of the Company. Mr. Thomas has served as Lead Director and Mr. Schacht as Chairman of the Audit Committee. Both will serve as senior advisors to the Board of Directors to provide for an orderly transition in board leadership.
Judith Gueron, who has been an Alcoa director since 1988, has been elected Lead Director, succeeding Thomas. Dr. Gueron has chaired Alcoa’s Public Issues Committee, which oversees environmental and social responsibility performance, since the board committee was formed in 2002.
A nationally recognized expert on employment and training, with a Ph.D. in economics from Harvard University, Dr. Gueron has the ideal background to guide the directors at a time when the Company faces a wide array of workplace and sustainability issues and opportunities. Jim Owens, Chairman and Chief Executive Officer of Caterpillar Inc., will succeed Schacht as Chairman of the Audit Committee.
Alcoa’s shareholders also elected Arthur D. Collins, Jr., retired Chairman and CEO of Medtronic, Inc., as a new member of the board at the annual meeting. Mr. Collins is the retired Chairman and Chief Executive Officer of Medtronic, Inc., a leading medical device and technology company.
Mr. Collins held a succession of executive leadership positions with the company starting in 1992 until his retirement in 2008. He served as Chairman of the Board of Medtronic, Inc. from April 2002 through August 2008 and Chairman and Chief Executive Officer from May 2002 to August 2007.
In addition, Mr. Collins served as President and Chief Executive Officer, President and Chief Operating Officer, and Chief Operating Officer at the company. He was Executive Vice President of Medtronic and President of Medtronic International from June 1992 to January 1994.
Prior to joining Medtronic, Mr. Collins was Corporate Vice President of Abbott Laboratories, a global health care company, a position he held from 1989 to 1992, and Divisional Vice President of that company from May 1984 to October 1989. He joined Abbott in 1978 after spending four years with Booz, Allen & Hamilton, a major management consulting firm.
Mr. Collins currently serves on the boards of The Boeing Company, U.S. Bancorp and privately held Cargill Incorporated. He has served on the Audit, Finance, Compensation, Governance and Executive committees of various boards. Currently, he chairs the Governance Committee at U.S. Bancorp, the Finance Committee at Boeing and the Human Resources and Compensation Committee at Cargill. ■