Deals
Kleinfeld’s Rogue Response Seals Fate as Elliott Prods Arconic
- CEO steps down after letter to fund seen as ‘poor judgment’
- Victory for billionaire Singer as activist frenzy accelerates
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In the end, Klaus Kleinfeld was his own worst enemy.
Having left Siemens AG a decade ago after a bribery scandal involving other employees, he landed on his feet as head of aluminum giant Alcoa and became a U.S. business leader. He expanded the company into engineered components for planes and cars, took the helm at parts maker Arconic Inc. when it split from Alcoa last year and won a spot on President Donald Trump’s manufacturing council.