8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): June 4, 2008

KAISER ALUMINUM CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Delaware (State or Other Jurisdiction of Incorporation)	0-52105 (Commission File Number)	94-3030279 (I.R.S. Employer Identification No.)
27422 Portola Parkway, Suite 350 Foothill Ranch, California (Address of Principal Executive Offices)		92610-2831 (Zip Code)

(949) 614-1740
(Registrant’s telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
	Item 8.01. Other Events.
	Item 9.01. Financial Statements and Exhibits.
SIGNATURES
EXHIBIT INDEX

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 4, 2008 the board of directors of Kaiser Aluminum Corporation (the “Company”) appointed Neal West as Vice President and Chief Accounting Officer. Mr. West replaces Lynton Rowsell, who will continue his employment with the Company through June 27, 2008 to assist in the transition of his duties. As previously disclosed by the Company, Mr. Rowsell gave the Company his notice of resignation on May 19, 2008 and is expected to return to public accounting and Ernst & Young, LLC.

Mr. West, 49, joined the Company on June 2, 2008. Prior to joining the Company, Mr. West served as the Principal Accounting Officer of Gateway, Inc. from June 2005 to May 2008. Mr. West was also the Vice President and Corporate Controller of Gateway, Inc. from April 2005 to May 2008. Prior to joining Gateway, Inc., Mr. West was the Vice President and Controller for APL Logistic, Ltd. from April 2000 to April 2005. In addition, Mr. West has held a number of finance, service and support positions at APL Ltd. Mr. West also previously worked for Standard Pacific and West-Tronics, Inc. as Division Controller and Financial Manager. Mr. West is a certified public accountant and a certified management accountant and holds a Master of Science degree in Information Systems from Roosevelt University and a Bachelor of Science degree in Accounting and Business Administration from Illinois State University.

Mr. Rowsell’s resignation and Mr. West’s appointment are in no way related to any disagreement between the Company and Mr. Rowsell regarding the Company’s accounting or financial reporting practices.

A copy of the press release announcing Mr. West’s appointment is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 8.01. Other Events.

On June 9, 2008, the Company announced that its Board of Directors has approved a share repurchase program authorizing the purchase of up to $75 million of its outstanding common stock, par value $0.01 per share. Based on the closing price of the Company’s common stock on June 4, 2008, a $75 million share repurchase would represent a repurchase of approximately 5.78% of the Company’s outstanding common stock.

On June 9, 2008, the Company also announced that its Board of Directors declared a quarterly cash dividend on its common stock of $0. 24 per share. The dividend will be payable on August 15, 2008 to stockholders of record as of the close of business on July 25, 2008.

A copy of the press release announcing the share repurchase program and the declaration of dividend is attached hereto as Exhibit 99.2 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

     (d) Exhibits.

Exhibit
Number	Description
99.1	Press Release dated June 10, 2008 Announcing Appointment of Neal West.
99.2	Press Release dated June 9, 2008 Announcing Share Repurchase and Dividend Declaration.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KAISER ALUMINUM CORPORATION (Registrant)
By:	/s/ John M. Donnan
	John M. Donnan
	Senior Vice President, Secretary and General Counsel

Date: June 10, 2008

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Press Release dated June 10, 2008 Announcing Appointment of Neal West.
99.2	Press Release dated June 9, 2008 Announcing Share Repurchase and Dividend Declaration.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Kaiser Aluminum Appoints Neal West Vice President and Chief Accounting Officer

FOOTHILL RANCH, Calif. – June 10, 2008 – Kaiser Aluminum (NASDAQ:KALU) today announced the appointment of Neal West to the position of Vice President and Chief Accounting Officer (CAO). West replaces Lynton Rowsell, who is returning to the accounting firm Ernst & Young.

“Neal is a highly skilled and experienced accounting professional and we are fortunate to have him as part of the organization,” said Jack A. Hockema, president, chairman and CEO of Kaiser Aluminum. “We wish Lynton all the best and look forward to Neal playing an important role in our future.”

West joins Kaiser Aluminum from Gateway, Inc., where he served as vice president and principal accounting officer since 2005. Prior to Gateway, West served in several roles over 19 years with Neptune Orient Lines/APL, one of the world’s largest container shipping and logistics companies, and was most recently Vice President, Controller for APL Logistics, Ltd., a $1.2 billion international warehousing and logistics division of Neptune Orient Lines. He holds a Master of Science degree in Information Systems from Roosevelt University and a Bachelor of Science degree in Accounting and Business Administration from Illinois State University.

Kaiser Aluminum, headquartered in Foothill Ranch, Calif., is a leading producer of fabricated aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The company’s North American facilities annually produce more than 500 million pounds of value-added sheet, plate, extrusions, forgings, rod, bar and tube products, adhering to traditions of quality, innovation and service that have been key components of our culture since the company was founded in 1946. The company’s stock is included in the Russell 2000^® index. For more information, please visit www.kaiseraluminum.com.

F-1094

Certain statements in this release relate to future events and expectations and, as a result, constitute forward-looking statements involving known and unknown risks and uncertainties that may cause actual results, performance or achievements of the company to be different from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: (a) the effectiveness of management’s strategies and decisions; (b) adverse changes in economic or aluminum industry conditions generally; (c) adverse changes in the markets served by the company, including the aerospace, defense, general engineering, automotive, distribution and other markets; (d) the company’s inability to achieve the level of cash generation, margin improvements, cost savings, or earnings or revenue growth anticipated by management; (e) the

impact of the company’s future earnings, financial condition, capital requirements and other factors on its ability to pay future dividends and any decision by the company’s board of directors in that regard; and (f) the other risk factors summarized in the company’s Form 10-K for the year ended December 31, 2007 and other reports filed with the Securities and Exchange Commission.

Investor Relations Contact:
Dan Rinkenberger
Kaiser Aluminum
(949) 614-1740

Public Relations Contact:
Geoff Mordock
Fleishman-Hillard
(323) 762-1818

EX-99.2

Exhibit 99.2

FOR IMMEDIATE RELEASE

Kaiser Aluminum Announces $75 Million Stock Repurchase Plan and a 33 Percent
Increase in Quarterly Dividend

Financial Initiatives Aimed at Enhancing Total Shareholder Value

FOOTHILL RANCH, Calif. — June 9, 2008 — Kaiser Aluminum (NASDAQ:KALU), a leading producer of fabricated aluminum products, today announced that its Board of Directors has authorized the repurchase of up to $75 million in the company’s common stock.

The Board also declared a quarterly cash dividend of $0.24 per share on the company’s outstanding stock, which represents a 33 percent increase over the prior quarter’s dividend. This dividend will be payable on August 15, 2008 to shareholders of record at the close of business on July 25, 2008.

“While we continue to aggressively pursue initiatives for the long-term growth of the company, we are pleased that our shareholders will also be able to participate in the company’s profits through increased cash dividends as well as any share repurchases under the plan approved by our Board,” said Jack A. Hockema, chairman, president and CEO of Kaiser Aluminum. “The Board’s decision to authorize these initiatives underscores our confidence in the company’s financial strength and prospects for the future.”

Repurchase transactions will occur at such times and prices as management deems appropriate and will be funded with the company’s excess liquidity after giving consideration to internal and external growth opportunities and future cash flows. Repurchases will not commence until after July 6, 2008, and it is expected that the authorization will be utilized over approximately 18 months, subject to market conditions. Repurchases may be in open-market transactions or in privately negotiated transactions and the program may be modified, extended or terminated by the board of directors at any time.

“Our $244 million organic growth program provides additional capacity to address growing demand for aerospace and high strength plate products and will leverage new efficiencies in several of our value streams,” added Hockema. “Our strong financial position allows us to create long-term shareholder value through organic initiatives and acquisitions while also rewarding our shareholders with increased dividends and share repurchases.”

Kaiser Aluminum, headquartered in Foothill Ranch, Calif., is a leading producer of fabricated aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The company’s North American facilities annually produce more than 500 million pounds of value-added sheet, plate, extrusions, forgings, rod, bar and tube products, adhering to traditions of quality, innovation and service that have been key components of our culture since the company was founded in 1946. The company’s stock is included in the Russell 2000^® index. For more information, please visit www.kaiseraluminum.com.

F-1093

Certain statements in this release relate to future events and expectations and, as a result, constitute forward-looking statements involving known and unknown risks and uncertainties that may cause actual results, performance or achievements of the company to be different from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: (a) the impact of the company’s future earnings, financial condition, capital requirements and other factors on future dividends or the repurchase of shares of the company’s common stock and any decision by the company’s board of directors in regard to either (b) the effectiveness of management’s strategies and decisions; (c) adverse changes in economic or aluminum industry conditions generally; (d) adverse changes in the markets served by the company, including the aerospace, defense, general engineering, automotive, distribution and other markets; (e) the company’s inability to achieve the level of cash generation, margin improvements, cost savings, or earnings or revenue growth anticipated by management; (f) the company’s inability to complete its growth projects by target completion dates, (g) unfavorable changes in law, governmental regulations and policies or currency exchange rates, (h) significant legal proceedings or investigations adverse to the company, including environmental, product liability, safety and health and other claims, ; and (i) the other risk factors summarized in the company’s Form 10-K for the year ended December 31, 2007 and other reports filed with the Securities and Exchange Commission.

Investor Relations Contacts:
Dan Rinkenberger
Kaiser Aluminum
(949) 614-1740

Public Relations Contact:
Geoff Mordock
Fleishman-Hillard
(323) 762-1818