ENP Newswire - 23 May 2014
Release date- 22052014 - LONDON -Alcoa (NYSE:AA) Chairman and Chief Executive Officer Klaus Kleinfeld was named CEO of the Year at the 2014 Platts Global Metals Awards ceremony held today in London.
The recognition caps off a transformational year for Alcoa, as it pivots from a commodity-centric focus to a growing emphasis on value-add businesses. Judging criteria for CEO of the Year included integrity, leadership, decisiveness, strategic vision and peer recognition.
'I am truly honored to receive this recognition as we guide Alcoa through the greatest transformation in the Company's recent history,' said Alcoa Chairman and CEO Klaus Kleinfeld. 'We are transforming Alcoa from a commodity-dominated company to a lightweight metals innovation leader that is better-positioned to maximize profitable growth. It is only through the ingenuity and passion of our 60,000 Alcoans that any of this is possible, and I wholeheartedly dedicate this award to them.'
Alcoa has been investing in its highly innovative value-added manufacturing and engineering businesses to capture growth opportunities in strong end markets like the automotive and aerospace industries. At the same time the Company is lowering the cost base of its commodity business, closing or curtailing high-cost global smelting capacity and investing in the world's lowest cost integrated aluminum production facility in Saudi Arabia. Alcoa's value-add businesses accounted for 57 percent of 2013 revenues and 80 percent of segment profits in 2013, a 10 percentage point profit increase over 2012.
From year-end 2012 to date, Alcoa's total shareholder return has equaled approximately 60 percent.
The Platts awards honor excellence and accomplishments in the global metals industry. Award winners were selected by an impartial panel of international experts whose background and experience include regulation, corporate leadership and financial performance.
A global leader in lightweight metals 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 60,000 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.