Alain Belda
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Alain J. P. Belda is a Moroccan-Canadian-Brazilian businessman who has been a managing director of
Warburg Pincus Warburg Pincus LLC is a global private equity firm, headquartered in New York, with offices in the United States, Europe, Brazil, China, Southeast Asia and India. Warburg has been a private equity investor since 1966. The firm currently has over ...
since 2009. Previously he was the chairman of the board of Alcoa from January 2001; he was chief executive officer from January 2001 until May 2008.


Business experience

-Taiama Foundation -Conference Board -Foreign Affairs Council -Brown board of Trustees -International Advisory Board of Bank of America -International Advisory Board of Chubb -Board Member of Renault from 2009 to 2017 -Board member of IBM from 2009 to 2016 -Board Member of Citi Bank from 1997 to 2012 -Board Member Dupont from -Limited Special Partner of Warburg Pincus from 2018 -Managing Partner Warburg Pincus 2009 to 2018 -Non Executive chairman of the board from April 2009 to June 2010- -Executive chairman of the board from April 2008 to April 2009 *Chief executive officer and chairman of the board from January 2001 to April 2008 *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 $25,931,201, which included a base salary of $1,457,500, a cash bonus of $1,000,000, stocks granted of $6,978,791, and options granted of $13,558,026.


Controversies

On October 6, 2005, in the paper EXAME in
São Paulo São Paulo (, ; Portuguese for ' Saint Paul') is the most populous city in Brazil, and is the capital of the state of São Paulo, the most populous and wealthiest Brazilian state, located in the country's Southeast Region. Listed by the Ga ...
,
Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...
, 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 smelter Aluminium (aluminum in American and Canadian English) is a chemical element with the symbol Al and atomic number 13. Aluminium has a density lower than those of other common metals, at approximately one third that of steel. It has ...
s, as it was paying
Iceland Iceland ( is, Ísland; ) is a Nordic island country in the North Atlantic Ocean and in the Arctic Ocean. Iceland is the most sparsely populated country in Europe. Iceland's capital and largest city is Reykjavík, which (along with its s ...
's state-run energy firm
Landsvirkjun Landsvirkjun, () the National Power Company of Iceland, is Iceland's largest electricity generator. Landsvirkjun operates 18 power plants in Iceland concentrated on five main areas of operation. History Landsvirkjun was founded on 1 July 1965 b ...
: "...the agreed price — 30 dollars per megawatt-hour — was far from ideal. In Iceland, the company pays half that." When this news reached Icelandic media, on June 7, 2006, the reaction was negative from environmentalists opposed to the already controversial
Kárahnjúkar Hydropower Plant Kárahnjúkar Hydropower Plant ( is, Kárahnjúkavirkjun ), officially called Fljótsdalur Power Station ( is, Fljótsdalsstöð ) is a hydroelectric power plant in Fljótsdalshérað municipality in eastern Iceland, designed to produce annuall ...
, and others, as Icelandic citizens and other firms pay eight times that.
Friðrik Sophusson Friðrik is a masculine Icelandic given name. Notable people with the name include: *Friðrik Þór Friðriksson (born 1953), Icelandic film director *Friðrik Ólafsson (born 1935), Icelandic chess Grandmaster and former president of FIDE *Frið ...
, the director of
Landsvirkjun Landsvirkjun, () the National Power Company of Iceland, is Iceland's largest electricity generator. Landsvirkjun operates 18 power plants in Iceland concentrated on five main areas of operation. History Landsvirkjun was founded on 1 July 1965 b ...
, said the quoted price was ridiculous, the real price being somewhat higher. A New York spokesperson for Alcoa said Belda had been "inaccurate" in the interview. An Icelandic social-democratic
member of parliament A member of parliament (MP) is the representative in parliament of the people who live in their electoral district. In many countries with bicameral parliaments, this term refers only to members of the lower house since upper house members o ...
, Helgi Hjörvar, who is on the board of
Landsvirkjun Landsvirkjun, () the National Power Company of Iceland, is Iceland's largest electricity generator. Landsvirkjun operates 18 power plants in Iceland concentrated on five main areas of operation. History Landsvirkjun was founded on 1 July 1965 b ...
, 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, () the National Power Company of Iceland, is Iceland's largest electricity generator. Landsvirkjun operates 18 power plants in Iceland concentrated on five main areas of operation. History Landsvirkjun was founded on 1 July 1965 b ...
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 Company and International Business Machines. Mr. Belda serves on the board of trustees of
The Conference Board The Conference Board, Inc. is a 501(c)(3) non-profit business membership and research group organization. It counts over 1,000 public and private corporations and other organizations as members, encompassing 60 countries. The Conference Board co ...
, the world's leading business membership and research organization, and is a member of the board of trustees of the Brown University Corporation.


References


External links

*Alexa Salomão
Alcoa's only option
(copy) *News story
Conflicting reports on energy prices paid by Alcoa to Landsvirkjun
{{DEFAULTSORT:Belda, Alain 1943 births Living people Canadian people of Brazilian descent Canadian businesspeople Canadian people of French descent Canadian people of Moroccan-Jewish descent Canadian Sephardi Jews Moroccan emigrants to Canada Naturalized citizens of Canada Brazilian emigrants to Canada Brazilian Sephardi Jews Brazilian people of Moroccan-Jewish descent Alcoa people