Alcoa Announces Changes to its Board of Directors

May 1, 2015

Dr. Judith Gueron retires; Patricia Russo elected Lead Director

Lightweight metals leader Alcoa (NYSE:AA) announced changes to its Board
of Directors today effective with the Company’s Annual Meeting of
Shareholders held in Pittsburgh. Dr. Judith Gueron, an Alcoa director
since 1988 and its Lead Director since 2010, who did not stand for
re-election when her term expired at the Annual Meeting, retired from
the Board of Directors. Succeeding Gueron as Lead Director is Patricia
Russo, a member of the Alcoa Board since 2008.

“Judy Gueron has played an important role on the Alcoa board during the
period of most dramatic global growth in the Company’s history,
providing significant guidance on corporate social responsibility and
public issues as Alcoa expanded into new regions and markets,” said
Alcoa Chairman and CEO Klaus Kleinfeld. “On behalf of the entire board,
I thank Judy for her wise counsel and inspired leadership.”

“With deep executive experience as a former CEO and widely respected
leadership on major public boards, Pat Russo is ideally suited to assume
the Lead Director role as Alcoa continues to transform and position
itself for greater profitability,” Kleinfeld said. “She understands well
the important role of the Board of Directors in times of major change.
Besides serving on several of Alcoa’s key committees, she has held board
leadership roles with other major global corporations and has an
extensive knowledge of governance practices and principles.”

Russo is the former Chief Executive Officer of Alcatel Lucent, a
communications company, and earlier served as Chairman of Lucent
Technologies Inc. She led Lucent’s cross-border merger negotiations with
Alcatel, a French company, and became the merged organization’s first
chief executive. Russo also has held senior executive positions at AT&T
and Avaya Inc. As a member of Alcoa’s Board of Directors, Russo has
chaired the Compensation and Benefits Committee, and is a member of the
Executive Committee, and Governance and Nominating Committee.

Other business at the annual meeting included election by shareholders
of Kathryn Fuller, Rafael Reif, Patricia Russo and Ernesto Zedillo to
three-year terms on the Board; ratification of the appointment of the
independent auditors; and approval, on an advisory basis, of executive

With Russo’s move to Lead Director, she was appointed chair of Alcoa’s
Governance and Nominating Committee, and Michael G. Morris, retired
chairman of American Electric Power Company, was appointed chair of
Alcoa’s Compensation and Benefits Committee. In addition, Kathryn Fuller
was appointed to the Governance and Nominating Committee and Executive
Committee and Rafael Reif was appointed to the Public Issues Committee.

About Alcoa

A global leader in lightweight metals technology, engineering and
manufacturing, Alcoa innovates multi-material solutions that advance our
world. Our technologies enhance transportation, from automotive and
commercial transport to air and space travel, and improve industrial and
consumer electronics products. We enable smart buildings, sustainable
food and beverage packaging, high performance defense vehicles across
air, land and sea, deeper oil and gas drilling and more efficient power
generation. We pioneered the aluminum industry over 125 years ago, and
today, our approximately 59,000 people in 30 countries deliver value-add
products made of titanium, nickel and aluminum, and produce
best-in-class bauxite, alumina and primary aluminum products. For more
information, visit,
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Investor Contact:
Nahla Azmy, 212-836-2674
Media Contact:
Monica Orbe, 212-836-2632