– USA, NY – Alcoa Inc. (NYSE:AA) -in preparation for its previously-announced separation into two industry-leading companies – 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.”
About Arconic Inc.
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:
Alving, Gupta and Richardson are newly appointed to the Arconic Board of Directors; the other directors serve on the Alcoa Inc. board.
About Alcoa Corporation
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:
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.
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 57,000 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.
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