Klaus Kleinfeld to Exit Morgan Stanley
April 21 2017 - 5:18PM
Dow Jones News
By Liz Hoffman
Klaus Kleinfeld, the ousted chief executive of Arconic Inc. who
left the aluminum-parts maker this week after a sending a bizarre
letter to an activist shareholder, will step off the board of
Morgan Stanley.
Mr. Kleinfeld, who has been a director since 2012, has resigned
from the board and won't stand for re-election at Morgan Stanley's
annual meeting next month, the firm said in a regulatory
filing.
German-born Mr. Kleinfeld left Arconic this week following a
monthslong fight with activist hedge fund Elliott Management Corp.,
which had called for his ouster. Mr. Kleinfeld sent Elliott boss
Paul Singer a letter that referenced Mr. Singer's alleged partying
during the 2006 World Cup, a letter the Arconic board didn't
approve and that the company said showed poor judgment.
Mr. Kleinfeld is also on the board of Hewlett Packard Enterprise
Co., the software business spun out of Hewlett-Packard Co.
Morgan Stanley's board includes big names in finance and
politics, including Democratic politico Erskine Bowles and Alistair
Darling, the U.K. Chancellor of the Exchequer during the financial
crisis.
Write to Liz Hoffman at liz.hoffman@wsj.com
(END) Dow Jones Newswires
April 21, 2017 17:03 ET (21:03 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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