Alcoa Announces Changes to its Board of Directors
May 01 2015 - 10:38AM
Business Wire
Dr. Judith Gueron retires; Patricia Russo
elected Lead Director
Lightweight metals leader Alcoa (NYSE:AA) announced changes to
its Board of Directors today effective with the Company's Annual
Meeting of Shareholders held in Pittsburgh. Dr. Judith Gueron, an
Alcoa director since 1988 and its Lead Director since 2010, who did
not stand for re-election when her term expired at the Annual
Meeting, retired from the Board of Directors. Succeeding Gueron as
Lead Director is Patricia Russo, a member of the Alcoa Board since
2008.
"Judy Gueron has played an important role on the Alcoa board
during the period of most dramatic global growth in the Company’s
history, providing significant guidance on corporate social
responsibility and public issues as Alcoa expanded into new regions
and markets," said Alcoa Chairman and CEO Klaus Kleinfeld. "On
behalf of the entire board, I thank Judy for her wise counsel and
inspired leadership.”
"With deep executive experience as a former CEO and widely
respected leadership on major public boards, Pat Russo is ideally
suited to assume the Lead Director role as Alcoa continues to
transform and position itself for greater profitability," Kleinfeld
said. “She understands well the important role of the Board of
Directors in times of major change. Besides serving on several of
Alcoa’s key committees, she has held board leadership roles with
other major global corporations and has an extensive knowledge of
governance practices and principles.”
Russo is the former Chief Executive Officer of Alcatel Lucent, a
communications company, and earlier served as Chairman of Lucent
Technologies Inc. She led Lucent’s cross-border merger negotiations
with Alcatel, a French company, and became the merged
organization's first chief executive. Russo also has held senior
executive positions at AT&T and Avaya Inc. As a member of
Alcoa's Board of Directors, Russo has chaired the Compensation and
Benefits Committee, and is a member of the Executive Committee, and
Governance and Nominating Committee.
Other business at the annual meeting included election by
shareholders of Kathryn Fuller, Rafael Reif, Patricia Russo and
Ernesto Zedillo to three-year terms on the Board; ratification of
the appointment of the independent auditors; and approval, on an
advisory basis, of executive compensation.
With Russo's move to Lead Director, she was appointed chair of
Alcoa’s Governance and Nominating Committee, and Michael G. Morris,
retired chairman of American Electric Power Company, was appointed
chair of Alcoa's Compensation and Benefits Committee. In addition,
Kathryn Fuller was appointed to the Governance and Nominating
Committee and Executive Committee and Rafael Reif was appointed to
the Public Issues Committee.
About Alcoa
A global leader in lightweight metals technology, engineering
and manufacturing, Alcoa innovates multi-material solutions that
advance our world. Our technologies enhance transportation, from
automotive and commercial transport to air and space travel, and
improve industrial and consumer electronics products. We enable
smart buildings, sustainable food and beverage packaging, high
performance defense vehicles across air, land and sea, deeper oil
and gas drilling and more efficient power generation. We pioneered
the aluminum industry over 125 years ago, and today, our
approximately 59,000 people in 30 countries deliver value-add
products made of titanium, nickel and aluminum, and produce
best-in-class bauxite, alumina and primary aluminum products. For
more information, visit www.alcoa.com, follow @Alcoa on Twitter at
www.twitter.com/Alcoa and follow us on Facebook at
www.facebook.com/Alcoa.
AlcoaInvestor Contact:Nahla Azmy,
212-836-2674Nahla.Azmy@alcoa.comorMedia Contact:Monica Orbe,
212-836-2632Monica.Orbe@alcoa.com
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