Klaus Kleinfeld

Klaus-Christian Kleinfeld (born 6 November 1957 in Bremen, Germany) is the former chairman and chief executive officer (CEO) of Arconic. Kleinfeld is former chairman and CEO of Alcoa Inc., and former president and CEO of Siemens AG. Kleinfeld stepped down as chairman and CEO of Arconic on 17 April 2017. In October 2017, he was named director of Saudi Arabia's Neom initiative. It was announced in July 2018 that Kleinfeld would be promoted from director of Neom to advisor of Crown Prince Muhammad bin Salman on 1 August 2018, and that Nadhmi Al-Nasr would succeed him as director of Neom. In August 2007, Kleinfeld was appointed COO of New York, NY-based Alcoa Inc. In May 2008, Kleinfeld was appointed CEO of Alcoa, succeeding Alain Belda. In April 2010, Kleinfeld was named chairman of Alcoa and continued to serve as CEO and chairman of the board until his resignation in April 2017. Kleinfeld served as CEO of Munich, Germany-based Siemens AG from January 2005 until July 2007. Kleinfeld's efforts to modernize the company led to conflict with defenders of Siemens' traditional business culture. However, the company's financial performance flourished. Previously, Kleinfeld transformed Siemens Management Consulting into an effective partner for the global businesses. He contributed significantly to the profitable turnaround of Siemens' regional business in the U.S. In 2006, a German government investigation uncovered slush funds in secret bank accounts maintained by Siemens in order to win contracts. Investigators found no evidence of wrongdoing by Kleinfeld and no charges were brought against him. In 2009, Kleinfeld, along with other former top Siemens executives, agreed to pay Siemens a sum to settle a related civil matter. In June 2007, Kleinfeld left Siemens, citing uncertainty about his future with the company after divisions among Siemens board members concerning the extension of his contract became public.