CEO Alain Belda

Alcoa Inc. CEO Klaus Kleinfeld received a compensation package valued at $11.2 million in 2009 as the aluminum manufacturer struggled amid plummeting demand, according to an Associated Press calculation of figures disclosed in a regulatory filing Friday. Kleinfeld's compensation increased 15.5 percent from 2008, when he earned $9.7 million. He took over as CEO in May 2008 from Alain Belda. Prior to that, Kleinfeld was Alcoa's chief operating officer. Kleinfeld, who also serves as president...Read Full Story

NEW YORK (Reuters) - Alcoa Inc <AA.N> said Tuesday it reached a tentative agreement with the United Steelworkers (USW) union on a new 4-year labor contract covering 5,400 workers at 10 of the aluminum producer's manufacturing locations in the United States. The new agreement, subject to ratification by USW members, addresses key sticking points in negotiations that began on May 17, Alcoa said in a press release. The previous contract expired on May 31. Local unions will need to speak with...Read Full Story

Alcoa Inc. said Wednesday executive chairman and former CEO Alain Belda will retire as an executive of the aluminum company effective Aug. 1, but will continue as board chairman until his term expires next year. The Pittsburgh-based company said in a regulatory filing it expects CEO Klaus Kleinfeld to succeed Belda as chairman under a plan first disclosed in 2007. Kleinfeld took over from Belda as CEO of Alcoa, the largest U.S. aluminum producer, in May 2008. Belda has worked for Alcoa for...Read Full Story

T he all-aluminum spaceframe for the upcoming Ferrari California sports car is being supplied by Alcoa Wheel and Transportation Products,Cleveland, Ohio । The aluminum spaceframe helps increase performance while lowering vehicle weight to deliver increased fuel economy and lower CO2 emissions. The California, recently unveiled at the Paris International Motor Show, is the latest performance vehicle from Ferrari. The strength and lightweight advantages of aluminum allow Ferrari to maximize...Read Full Story

Alcoa announced that Alcoa Chairman Alain Belda was honored by the Asia Society this week for his environmental leadership, including Alcoa’s progress to reduce GHG emissions and address global warming. In accepting the award, Mr. Belda said, “At Alcoa, we see global warming as the sustainability issue of our generation. To me, it is critical that [...]Read Full Story