Christian Jepsen to Join Alcoa as Vice President

Alcoa announced today that Christian Jepsen will join Alcoa as Vice President, Corporate Development this summer. He will be responsible for developing and implementing Alcoa's portfolio growth strategies, including merger and acquisition, and divestiture activities. Jepsen will also serve on the Alcoa Executive Council, the senior leadership team that sets strategic direction for the company.

Jespen comes to Alcoa from FLSmidth, a global engineering company headquartered in Copenhagen, Denmark, that serves the cement and minerals industries. His most recent position was Group Executive Vice President and CEO of the company's $3 billion global minerals business. During his 22 years with FLSmidth, he has served as Chief Financial Officer in several of the company's larger businesses both in Denmark and the U.S. Since 2000, he has led businesses and served in senior executive positions for FLSmidth's operations in the U.S. and globally.

Jepsen earned a bachelor's and master's degrees in business administration at Aarhus University, Denmark, and completed the Harvard Business School's Advanced Management Program in 2003 and the General Management Program at the European Center for Executive Development, CEDEP, in Fontainebleau, France, in 1995.

"With a track record of success in both corporate finance and operations in the minerals industry, he is uniquely qualified to lead our Corporate Development organization, which has an important role in Alcoa's future growth," said Alcoa Chairman and CEO Klaus Kleinfeld.

George King, Managing Director and Vice President for Corporate Development, will continue to serve in a key leadership role within the group, including overseeing major transactions on behalf of the company. He will report to Jepsen.