Alcoa Chairman and CEO Kleinfeld Named Platts CEO of the Year 2014
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. 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 Group 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 % of 2013 revenues and 80 % of segment profits in 2013, a 10 % point profit increase over 2012. From year-end 2012 to date, Alcoa’s total shareholder return has equaled approximately 60 %. 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.