NEW YORK--(BUSINESS WIRE)--Alcoa (NYSE:AA) announced today that its Board of Directors has elected
John Thuestad, 49, Executive Vice President and Group President of
Global Primary Products effective March 1, 2010. He succeeds Bernt
Reitan, 62, who will retire after nearly 40 years working in the
aluminum industry.
Mr. Thuestad will have overall responsibility for the strategic and
operational management of Alcoa’s alumina refineries and primary
aluminum smelters worldwide. He also will have overall accountability
for Alcoa’s primary products growth projects, including the recently
announced partnership with Ma’aden to develop the lowest-cost, fully
integrated aluminum complex in the world in Saudi Arabia. In addition,
he will oversee Alcoa’s mining operations, metal purchasing and trading,
and transportation areas. Mr. Thuestad will be a member of Alcoa’s
Executive Council, the senior leadership group that sets strategic
direction for the company.
Most recently, Mr. Thuestad was Chief Operating Officer for Global
Primary Products, focusing primarily on reducing the cost of alumina and
aluminum production. Alcoa is the world’s leading primary aluminum
producer. Its global smelting capacity totals more than 4.8 million
metric tons per year, and its global alumina capacity increased to more
than 18 million metric tons per year with the 2009 completion of the
Alumar alumina refinery expansion in Brazil.
Mr. Thuestad joined Alcoa in 2008 as President of Global Primary
Products – United States, responsible for Alcoa’s aluminum smelters in
the U.S. and its alumina refinery in Pt. Comfort, Texas. A year later,
he assumed the new position of Chief Operating Officer for Global
Primary Products worldwide and was elected a vice president of Alcoa.
Prior to joining Alcoa, Mr. Thuestad was President and CEO of Elkem ASA
of Norway, President of Elkem Aluminium ANS, and CEO and President at
Norzink, a zinc and aluminium fluoride producer owned 50/50 by Rio Tinto
and Boliden.
“In his roles at Alcoa and his previous position as President and CEO of
Elkem of Norway, John has proven himself to be an outstanding leader
with deep knowledge of the primary aluminum business, and he has a
successful track record of motivating people and achieving results under
the most challenging circumstances,” said Alcoa President and CEO Klaus
Kleinfeld.
Commenting on the retirement of Mr. Reitan, Mr. Kleinfeld said, “For
almost 40 years, Bernt has dedicated himself to the aluminum business
and has made huge contributions to the improvement of the industry. He
has been a tremendous asset to Alcoa not only in the work that he has
done within the company but also through the boards and industry
associations with which he has partnered. I’m pleased that Bernt will
assume the position of Chairman’s Counsel on March 1 until his
retirement on August 1, so we can continue to benefit from his insights
and experience.”
Mr. Reitan joined Alcoa in 2000 as general manager of Alcoa World
Alumina Chemicals Europe, and six months later he was named president of
Alcoa World Chemicals. He was elected an Alcoa vice president in 2001,
when he assumed global accountability for Alcoa’s alumina business as
president, Alcoa World Alumina Chemical s (AWAC). In January 2003, he
was appointed President, Alcoa Primary Metals and by the end of 2003 was
named Executive Vice President and Group President for Global Primary
Products.
During his tenure, Mr. Reitan helped to expand the company into new,
cost-effective geographies, including Alcoa Fjarðaál in Iceland, the
company’s first new greenfield smelter in 20 years, and the Alcoa Juruti
bauxite mine and port in Brazil. He also oversaw the expansion and
modernization of Alcoa refineries and smelters around the world. Under
his direction, Alcoa implemented an agreement with Orkla, exchanging
their stakes in a Norwegian smelting partnership with the Swedish
extrusion joint venture to focus on areas of expertise and best
practices. Mr. Reitan also played a significant role in the repowering
of Alcoa, creating Alcoa’s Energy group and building security for the
company’s smelting operations through long-term power contracts.
Prior to joining Alcoa, Mr. Reitan held a series of executive management
positions with Elkem in Norway.
He is a member of the board of directors of Royal Caribbean Cruises
Limited (RCL) and Yara International ASA, a global firm specializing in
agricultural products and environmental protection agents based in
Norway. Mr. Reitan also serves as co-chair of the American-Scandinavian
Foundation, a non-profit organization that promotes international
understanding through educational and cultural exchange.
About Alcoa
Alcoa is the world leader in the production and management of primary
aluminum, fabricated aluminum and alumina, and is active in all major
aspects of the industry, including a leading position in recycling (73
percent of all the aluminum ever produced since 1888 is still in use
today). Alcoa serves the aerospace, automotive, packaging, building and
construction, commercial transportation and industrial markets, bringing
design, engineering, production and other capabilities of Alcoa's
businesses to customers. In addition to aluminum products and components
including flat-rolled products, hard alloy extrusions, and forgings,
Alcoa also markets Alcoa® wheels, fastening systems, precision and
investment castings, and building systems. The Company is a leader in
sustainability and has been a member of the Dow Jones Sustainability
Index for eight consecutive years. Alcoa employs approximately 59,000
people in 31 countries across the world. More information can be found
at www.alcoa.com
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