Alain J. P. Belda is a Moroccan-Canadian-Brazilian businessman who has been a managing director of Warburg Pincus since 2009. Previously he was the chairman of the board of

Alcoa Alcoa Corporation (an acronym for Aluminum Company of America) is a Pittsburgh-based industrial corporation. It is the world's eighth-largest producer of aluminum. Alcoa conducts operations in 10 countries. Alcoa is a major producer of primary ...

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, Brazil, 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'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

, said the quoted price was ridiculous, the real price being somewhat higher. A

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

spokesperson for Alcoa said Belda had been "inaccurate" in the interview. An Icelandic social-democratic member of parliament,

Helgi Hjörvar Helgi Hjörvar (born 9 June 1967 in Reykjavík, Iceland) is an Icelandic politician. He served as President of the Nordic Council The Nordic Council is the official body for formal inter-parliamentary Nordic cooperation among the Nordic ...

, who is on the board of

, 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

for the slip-up, Salomão's article was removed from Alcoa's website.

Other directorships

Citigroup Inc. Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerat ...

and

E. I. du Pont de Nemours and Company DuPont de Nemours, Inc., commonly shortened to DuPont, is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. The company played a major role in ...

and International Business Machines. Mr. Belda serves on the board of trustees of The Conference Board, 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