Alcoa Organisation Changes

Alain Belda, chairman and CEO of Alcoa has announced the retirement of Richard B. Kelson, chief financial officer and EVP. Joseph C. Muscari will succeed him in the role, effective 1 January 2006.

“Rick Kelson has been an integral part of Alcoa’s success over the past three decades,” said Belda. “We are sorry to lose him, but I am pleased that he has agreed to stay on well into next year to help provide for a smooth transition.” Mr Kelson will become chairman’s counsel in January and will continue to advise the company on the transition.

Joe Muscari, currently EVP for Asia, Rigid Packaging and Global Foil, will become chief financial officer after a wide-ranging 36-year career at Alcoa.

Helmut Wieser, currently group president of the North American and European Mill Products, will assume additional responsibility for the can sheet and hard alloy extrusion businesses. He will also oversee the company’s business in the Asia Pacific region, with a focus on China and the Australian rolled products business. Helmut will become an executive vice president of the company.