* Chairman Alain Belda retires
* CEO Kleinfeld elected to succeed him
* Stock up slightly
NEW YORK, April 23 Aluminum producer Alcoa Inc
(AA.N) said on Friday that its board of directors elected Chief
Executive Officer Klaus Kleinfeld to replace Alain Belda as
Belda, 66, had previously announced plans to retire from
the company after more than 40 years of service. The leadership
change took place at Friday's annual meeting of shareholders.
Kleinfeld, 52, who was previously CEO of German engineering
group, Siemens AG (SIEGn.DE), has been a member of Alcoa's
board since 2003. He joined Alcoa in October 2007 as president
and chief operating officer and was named president and CEO in
Alcoa said Frank Thomas and Henry Schacht also are retiring
as directors. Both will serve as senior advisers to the board
to provide for an orderly transition.
Judith Gueron, who has been an Alcoa director since 1988,
was elected lead director, succeeding Thomas. Jim Owens,
chairman and CEO of Caterpillar Inc (CAT.N), will succeed
Schacht as chairman of the audit committee.
Alcoa stock was up 30 cents at $14.15 in afternoon trading
on the New York Stock Exchange.
(Reporting by Steve James, editing by Gerald E. McCormick)