The company, which this year celebrates its 125th anniversary, was recognised for taking decisive action resulting in a substantial transformation or change of direction in the aluminium industry.

Klaus Kleinfeld, chairman and CEO of Alcoa, described the award as 'a tribute to our dedicated employees who have made Alcoa an industry leader'.

Executives and companies from 11 countries were selected as finalists for the awards, which recognise exemplary performance in nearly a dozen categories. Financial results, innovation, product quality, safety and strategic vision were all part of the judging criteria for the leadership category.