U.S.-Russia Business Council Announces Alcoa CEO as New Chairman

Sep 11, 2009, 10:00 ET from U.S.-Russia Business Council

WASHINGTON, Sept. 11 /PRNewswire-USNewswire/ -- The U.S.-Russia Business Council (USRBC) announces the appointment of Klaus Kleinfeld, President and CEO of Alcoa Inc., as the Council's new Chairman effective September 25 following the Council's Annual Meeting in New York City. Mr. Kleinfeld succeeds Neville Isdell, who has held the position since 2004 and is stepping down following his retirement as Chairman and CEO of the Coca-Cola Company.

"This is both a promising and challenging time in U.S.-Russia relations," Mr. Kleinfeld said. "While differences may exist in foreign policy, the potential for cooperation in many areas is enormous, from bilateral trade and investment to collaboration on regulatory and other policies. Business will play a key role in identifying and building these opportunities."

USRBC President Ed Verona commented that Kleinfeld's long-standing relations with Russia, combined with Alcoa's considerable investment in that country, make him a natural choice to assume the leadership of the Council. "Klaus brings an extensive network of personal relationships in Russia and an infectious optimism about the prospects for achieving progress in the bilateral relationship. He is the ideal leader for the Council in this era of the 'reset' in U.S.-Russia relations."

A native of Germany, Kleinfeld has been with Alcoa since being named a director in 2003. He was named President and CEO of Alcoa in May 2009, after a 20-year career with the global electronics and industrial conglomerate, Siemens AG, where he served as chief executive officer.

Alcoa is the world's leading producer of primary aluminum, fabricated aluminum and alumina, with 63,000 employees and operations in 31 countries. Alcoa entered the Russian market in 1993 when it opened a facility in Lyubachany, and acquired two major manufacturing facilities in 2005 in Samara and Belaya Kalitva. The company's total investment in Russia is approximately $750 million.

The USRBC (www.usrbc.org) is a Washington-based association representing approximately 250 companies, among them some of the leading firms in the U.S., Russia and Europe. Founded in 1993, its primary mission is to promote trade and investment between the United States and Russia.

SOURCE U.S.-Russia Business Council