Arconic C.E.O. Ousted After Sending Unauthorized Letter to Hedge Fund

As chief executive of Alcoa, Klaus Kleinfeld oversaw an effort to split the company in two. Last year, he won board approval to spin off what was supposed to be a fast-growing subsidiary, Arconic, and became the new company’s C.E.O.

As chief executive of Alcoa, Klaus Kleinfeld oversaw an effort to split the company in two. Last year, he won board approval to spin off what was supposed to be a fast-growing subsidiary, Arconic, and became the new company’s C.E.O.