Alcoa (AA) Announces Board Makeup for Arconic (ARNC), Alcoa Corp. Following Separation
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In preparation for its previously-announced separation into two industry-leading companies, Alcoa Inc. (NYSE: AA) has named the members of the Boards of Directors for the future Arconic Inc. and Alcoa Corporation.
To ensure continuity and retention of valuable Alcoa Inc. experience, each new company’s board will include members of the current Alcoa Inc. board, who will serve alongside new directors appointed after a comprehensive search. The new boards will assume their responsibilities upon completion of the Company’s separation, which remains on track for the second half of 2016.
“We have established two world-class, diverse boards for Arconic and Alcoa Corporation to accelerate value for the shareholders of each company,” said Alcoa Chairman and CEO Klaus Kleinfeld. “The new directors – like the directors they join – are high-caliber executives who bring to the table track records of success in relevant industrial and leadership roles. Arconic and Alcoa Corporation will draw on the valuable experience of its directors as each company sets course for a promising future.”
Arconic will be a leading global provider of high performance materials and engineered products to the aerospace, automotive, commercial transportation and other growth industries, with a portfolio and strategy positioned to achieve consistent profitable growth. As previously announced, upon separation, Klaus Kleinfeld will serve as Arconic Chairman and CEO.
The Arconic Board of Directors will comprise the following:
- Amy Alving, former Senior Vice President and Chief Technology Officer, Leidos Holdings, Inc.
- Arthur Collins, Jr., former Chairman and CEO, Medtronic, Inc.
- Rajiv Gupta, Chairman, Delphi Automotive PLC and Chairman and Senior Advisor, New Mountain Capital, LLC.
- Klaus Kleinfeld, Chairman and CEO, Arconic Inc.
- Sean Mahoney, private investor and former Partner and head of the Financial Sponsors Group, Goldman, Sachs & Co.
- E. Stanley O’Neal, former Chairman and CEO, Merrill Lynch & Co., Inc.
- John Plant, former Chairman, President and CEO, TRW Automotive
- L. Rafael Reif, President, Massachusetts Institute of Technology
- Julie Richardson, former Partner and the head of the New York office, Providence Equity Partners LLC
- Patricia Russo, Chairman, Hewlett Packard Enterprise and former CEO, Alcatel Lucent
- Ulrich Schmidt, former Executive Vice President and CFO, Spirit Aerosystems Holdings, Inc.
- Martin Sorrell, founder and CEO, WPP plc
- Ratan Tata, former Chairman, Tata Sons Limited
Alving, Gupta and Richardson are newly appointed to the Arconic Board of Directors; the other directors serve on the Alcoa Inc. board.
For biographies of each member of the future Arconic Board of Directors, please click here or visit www.alcoa.com.
Alcoa Corporation will be a globally-competitive industry leader in bauxite, alumina and aluminum products, positioned to succeed throughout the market cycle. As previously announced, Roy Harvey, current Group President of the Alcoa Global Primary Products business, will be CEO of Alcoa Corporation. The Chairman will be announced prior to the separation.
The full Alcoa Corporation Board of Directors will comprise the following:
- Mary Anne Citrino, Senior Advisor, The Blackstone Group L.P.
- Timothy Flynn, former CEO, KPMG
- Kathryn Fuller, Chair, the Smithsonian’s National Museum of Natural History
- Roy Harvey, CEO, Alcoa Corporation
- James Hughes, former CEO of First Solar, Inc.
- Michael Morris, former Chairman and CEO, American Electric Power Company, Inc.
- James Nevels, founder and Chairman, The Swarthmore Group
- James Owens, former Chairman and CEO, Caterpillar Inc.
- Carol Roberts, Senior Vice President and CFO, International Paper Company
- Suzanne Sitherwood, President and CEO, Spire Inc.
- Steve Williams, President and CEO, Suncor Energy Inc
- Ernesto Zedillo, former President of Mexico and current Director, Yale Center for the Study of Globalization
Citrino, Flynn, Harvey, Hughes, Nevels, Sitherwood and Williams are newly appointed to the Alcoa Corporation Board of Directors; the other directors serve on the Alcoa Inc. board.
For biographies of each member of the future Alcoa Corporation Board of Directors, please click here or visit www.alcoa.com.
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