Aluminum giant Alcoa Inc. has
shuffled its deal team. Kurt Waldo, who as deputy general counsel oversaw legal M&A and divestiture work, has been promoted to vice president and general counsel. Jake Siewert (pictured), meanwhile, has been named vice president of business development and public strategy, and will oversee M&A.
Like many corporate dealmakers, Siewert has traveled an interesting career path to corporate dealmaking, including a stint as White House press secretary during the Clinton administration and filling a number of executive roles at Alcoa. (Check out our
faces of corporate development feature for profiles of other dealmakers).
Siewert joined Alcoa in 2001 as VP of global communications and public strategy. Three years later he created Alcoa's sustainability office and assumed responsibility for the company's global environment, and health and safety efforts. Siewert has been deeply involved in dealmaking, helping execute recent acquisitions in China and playing a key role in
Alcoa's acquisition of Alcan Inc.
Prior to Alcoa, Siewert was White House press secretary from 2000 to 2001, and served as President Bill Clinton's chief spokesperson. He was also special assistant to the President for Economic Affairs for the National Economic Council at the White House. - Suzanne Stevens
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The dreadful performance of Alcoa can only be attributed to management. This performance is not acceptable and will lead to a takeover of this company by either RIO or some hedge fund.
Management MUST be shaken up and buybacks in full force before it is to late.
Shareholders must be kept up to date and they are not. Have any overtures been made towards a friendly takeover or not?
Speak up Directors.