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http://www.businessweek.com/news/2014-05-01/alcoa-ceo-cancels-russian-forum-visit-after-white-house-lobbying

Bloomberg News

Alcoa CEO Cancels Russian Forum Visit After White House Lobbying

May 01, 2014

Alcoa Inc. (AA:US) Chief Executive Officer Klaus Kleinfeld won’t attend the St. Petersburg International Economic Forum this month after the White House lobbied the country’s top corporate leaders to avoid the event.

“In light of the U.S. government’s requirements, Alcoa has adjusted its attendance,” Monica Orbe, a spokeswoman for New York-based Alcoa, said in an e-mailed statement today. The company will “participate via its most senior Russian executives,” she said.

Members of President Barack Obama’s staff have phoned U.S. company executives to discourage them from attending the May 22-24 event as unrest in eastern Ukraine has continued to worsen, a person with knowledge of the matter said today.

Goldman Sachs Group Inc. CEO Lloyd C. Blankfein probably won’t attend, according to a person briefed on the matter, and Morgan Stanley CEO James Gorman is canceling his plans, another person said. Visa Inc.’s Charlie Scharf and PepsiCo Inc.’s Indra K. Nooyi are no longer participating. Citigroup CEO Michael Corbat will send others in his place, the company said last week.

To contact the reporter on this story: Sonja Elmquist in New York at selmquist1@bloomberg.net

To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net


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