Alain J. P. Belda
Encyclopedia
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Warburg Pincus
Warburg Pincus, LLC is an American private equity firm with offices in the United States, Europe, Brazil and Asia. It has been a private equity investor since 1966...
since 2009. Previously he was the Chairman of the Board of Alcoa
Alcoa
Alcoa Inc. is the world's third largest producer of aluminum, behind Rio Tinto Alcan and Rusal. From its operational headquarters in Pittsburgh, Pennsylvania, Alcoa conducts operations in 31 countries...
from January 2001; he was Chief Executive Officer from January 2001 until May 2008.
Business experience
- President and Chief Executive Officer of Alcoa from May 1999 to January 2001
- President and Chief Operating Officer of Alcoa from 1997 to May 1999
- He served as Alcoa's Vice Chairman from 1995 to 1997
- Executive Vice President from 1994 to 1995;
- From 1979 to 1994, he was President of Alcoa Aluminio S.A. in Brazil, Alcoa's Brazilian affiliate
Compensation
While CEO of Alcoa in 2007, Alain J. P. Belda earned a total compensation of $25,646,420, which included a base salary of $1,457,500, a cash bonus of $3,000,000, stocks granted of $6,978,791, and options granted of $13,558,026.Controversies
On October 6, 2005, in the paper EXAME in São PauloSão Paulo
São Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...
, Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, there appeared an article by journalist Alexa Salomão, where Belda was quoted as saying Alcoa was paying Brazilians twice as much for energy for the corporation's Brazilian aluminum smelters, as it was paying Iceland
Iceland
Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population...
's state-run energy firm Landsvirkjun
Landsvirkjun
Landsvirkjun is the largest energy producer in Iceland. It was founded in 1965 by the city of Reykjavík and the state of Iceland. Its general purpose is to produce and provide electricity for heavy industry and to sell electricity to local providers around Iceland...
: "...the agreed price — 30 dollars per megawatt-hour — was far from ideal. In Iceland, the company pays half that." (http://mar.anomy.net/files/2006/06/alcoa-frett.htm) When this news reached Icelandic media, on June 7, 2006 (http://eggin.blogdrive.com/archive/129.html, http://www.malbein.net/pallasgeir/?p=149), the reaction was negative from environmentalists opposed to the already controversial Kárahnjúkar
Kárahnjúkar Hydropower Project
Kárahnjúkar Hydropower Plant is a hydroelectric power plant in eastern Iceland designed to produce 4,600 GWh annually for Alcoa's Fjardaál aluminum smelter to the east in Reyðarfjörður. The project, named after nearby Mount Kárahnjúkur, involves damming the Jökulsá á Dal River and the Jökulsá...
hydroelectric dam, and others, as Icelandic citizens and other firms pay 8 times that.
Friðrik Sophusson
Friðrik Sophusson
Friðrik Sophusson , is an Icelandic politician and company director. He was the former director of Icelandic state-run energy firm Landsvirkjun.-Career:...
, the director of Landsvirkjun
Landsvirkjun
Landsvirkjun is the largest energy producer in Iceland. It was founded in 1965 by the city of Reykjavík and the state of Iceland. Its general purpose is to produce and provide electricity for heavy industry and to sell electricity to local providers around Iceland...
, said the quoted price was ridiculous, the real price being somewhat higher. A New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
spokesperson for Alcoa said Belda had been "inaccurate" (http://ruv.is/heim/frettir/frett/store64/item73762/) in the interview. An Icelandic social-democratic member of parliament
Member of Parliament
A Member of Parliament is a representative of the voters to a :parliament. In many countries with bicameral parliaments, the term applies specifically to members of the lower house, as upper houses often have a different title, such as senate, and thus also have different titles for its members,...
, Helgi Hjörvar, who is on the board of Landsvirkjun
Landsvirkjun
Landsvirkjun is the largest energy producer in Iceland. It was founded in 1965 by the city of Reykjavík and the state of Iceland. Its general purpose is to produce and provide electricity for heavy industry and to sell electricity to local providers around Iceland...
, challenged authorities to reveal the real price and thus "clear the air" surrounding the project—the dam and the smelter. No answer was ever received. Representatives of Alcoa finally apologized to Landsvirkjun
Landsvirkjun
Landsvirkjun is the largest energy producer in Iceland. It was founded in 1965 by the city of Reykjavík and the state of Iceland. Its general purpose is to produce and provide electricity for heavy industry and to sell electricity to local providers around Iceland...
for the slip-up, Salomão's article was removed from Alcoa's website.
Other directorships
Citigroup Inc. and E. I. du Pont de Nemours and CompanyDuPont
E. I. du Pont de Nemours and Company , commonly referred to as DuPont, is an American chemical company that was founded in July 1802 as a gunpowder mill by Eleuthère Irénée du Pont. DuPont was the world's third largest chemical company based on market capitalization and ninth based on revenue in 2009...
and International Business Machines. Mr. Belda serves on the board of trustees of The Conference Board
The Conference Board
The Conference Board, Inc. is a non-profit, non-partisan business membership and research group. It has approximately 12,000 executives in its network, from 1200 corporations in 60 countries. It holds conferences, convenes executives, conducts economic and business management research, and is seen...
, the world's leading business membership and research organization, and is a member of the board of trustees of the Brown University Corporation.
External links
- Alexa Salomão: Alcoa's only option (copy)
- News story: Conflicting reports on energy prices paid by Alcoa to Landsvirkjun