Alcoa (NYSE:AA) is coming out with earnings soon. Does their board of directors still have what it takes. The average age of the independent director is 66. Average tenure is 8.3 years. Three women out of ten independent directors.
The lead director is Dr Judith Gueron age 71 who has been on the board since 1988 and is a highly respected economist. We could not identify any other board memberships either past or present.
The most interesting or should I say Machiavellian member is Ratan Naval Tata of the Tata Group from India. A global company if there ever was one. Mr. Tata is also on the international advisory boards of Mitsubishi Corporation, JP Morgan Chase, Rolls-Royce, Temasek Holdings and the Monetary Authority of Singapore.
Will the interests of Alcoa shareholders align with those of Tata? Will a lead director with about 25 years at the table be the right person for the job?
George Gutowski writes from a caveat emptor perspective.