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Wilbur L. Ross, Jr. Named Japan Society Chairman


ジャパン・ソサエティー理事会 新会長就任のお知らせ


New York, NY – May 17, 2010 – Wilbur L. Ross, Jr., Chairman and CEO, WL Ross & Co. LLC, will be the new Chairman of the Board of New York's Japan Society. The Society's Board of Directors announced this morning that Mr. Ross will assume his new leadership role on Wednesday, June 9, 2010.

"I have long held Japan Society's work in high regard," Mr. Ross said. "I have witnessed its power to connect the people of the U.S. and Japan firsthand as a supporter of the Society, a participant in its galvanizing programming, and, in the last few years, as a member of its Board. Where mutual understanding remains our mission, I am excited to further support the Society as it seeks a broader, more continuous relationship between the people of the U.S. and Japan."

Mr. Ross joined Japan Society's Board of Directors in February 2005. Fellow Board member David W. Heleniak, who served as Interim Chairman after the untimely death of James S. McDonald in 2009, and who headed the search committee responsible for Ross's appointment, said "Mr. Ross is a well respected business leader and recognized for his tremendous accomplishments in both the U.S. and Japan. His expertise and unparalleled leadership made him an exceptional candidate for the position. The decision of the Board was unanimous, and we are delighted he accepted the appointment."

"I have much admired Mr. Ross's business accomplishments and his dedication to Japan Society," said Motoatsu Sakurai, President, Japan Society. "I am deeply honored to be working with Mr. Ross in his new capacity as Chairman, and I look forward to everything he will bring to the Society."

Mr. Ross serves as a gala chair for Japan Society's 2010 Annual Dinner on May 24. The dinner--Japan Society's single biggest fundraising event--features a keynote address by Jamie Dimon, Chairman & CEO of JPMorgan Chase & Co, and honors Yotaro Kobayashi, Former Chairman of the Board of Fuji Xerox Co., Ltd. Mr. Ross will be introduced as Chairman Elect at the dinner.

About Wilbur L. Ross, Jr.

Wilbur L. Ross, Jr. is Chairman and CEO, WL Ross & Co. LLC, and Chairman, Invesco Private Capital. Mr. Ross is an acknowledged industry leader in bankruptcy, restructuring and privatization services and is one of the leading financial advisors and investors to have been involved in the largest bankruptcies and out-of-court restructurings. Mr. Ross has assisted in restructuring more than $200 billion of corporate liabilities. Well-known as a skilled negotiator and as an expert in the bankruptcy process, he has worked on a variety of complex bankruptcy proceedings in a broad range of industries.

Mr. Ross' firm has been investing in Japan since 1997 and most notably purchased the failed Kofuku Bank in Osaka, restructured it into Kansai Sawayaka Bank and ultimately successfully merged it with the Kansai affiliate of Sumitomo Mitsui Bank. He has been on the Board of Japan Society since February 2005, served on the President Search Committee and is a member of the Investment Committee. WL Ross & Co. has been a sponsor of Japan Society's Corporate Program.

In 1999, President Kim Dae Jung awarded Mr. Ross a medal for his help during Korea's 1998 financial crisis. He is a former Chairman of the Smithsonian National Board. Earlier, President Clinton had appointed him to the Board of the U.S.-Russia Investment Fund, and he served as privatization advisor to Mayor Rudolph Giuliani. Mr. Ross serves on the Executive Committee of the Partnership for New York City and is a member of the Chairman’s Circle of the U.S.-India Business Council. He is a member of the Business Roundtable and a Board member of the Yale University School of Management, which has presented him with its Legend of Leadership Award. He is also a member of the Committee on Capital Markets Regulation and a Board Member of the Whitney Museum of American Art, ArcelorMittal, American Home Mortgage Servicing, Assured Guaranty, Bank United, BritishAmerican Business which presented him with its Entrepreneur of the Year Award, International Coal Group, Taiyo Funds and other WL Ross affiliated funds and portfolio companies. He is the only person to have been inducted into both the Private Equity Hall of Fame and the Turnaround Management Association Hall of Fame. Mr. Ross holds an M.B.A. with distinction from Harvard University and an A.B. from Yale University.

About Japan Society

Japan Society is an American nonprofit, nonpolitical organization founded on May 19, 1907, by a group of prominent New York business people and philanthropists—including Lindsay Russell, Hamilton Holt, Jacob Schiff, Ryoichiro Arai, and Dr. Jokichi Takamine—many of whom shaped the policies of exchange and collaboration that guided the Society until the outbreak of World War II. After the war, activities slowly resumed, and the stewardship of John D. Rockefeller 3rd from 1952 to 1978 led to a unified vision, a firm financial foundation, and a revitalized mission "to bring the people of the United States and Japan closer together in appreciation and understanding of each other." For Japan Society's full history, visit: http://www.japansociety.org/brief_history.

Japan Society's Board of Directors comprises more than 40 high-profile global leaders from the areas of business, public policy, academia and arts & culture. Japan Society's president Motoatsu Sakurai—previously Ambassador and Consul General of Japan in New York and former president of Mitsubishi International Corporation, USA—told the Board upon his appointment in April 2009: "A deeper, more resonant relationship between the people of Japan and the U.S. benefits both societies—and the world. This remains our goal." For the current list of Japan Society's Board of Directors, visit: http://www.japansociety.org/board_of_directors.

More than a hundred years after the Society’s founding, its endeavor remains the cultivation of a constructive, resonant and dynamic relationship between the people of the U.S. and Japan. Today, Japan Society has evolved into a world-class, multidisciplinary hub for global leaders, artists, scholars, educators, and English and Japanese-speaking audiences. At the Society, more than 100 events each year feature sophisticated, topically relevant presentations of Japanese art and culture and open, critical dialogue on issues of vital importance to the U.S., Japan and East Asia.

In addition to the 2010 Annual Dinner, Japan Society's upcoming programming includes the critically acclaimed exhibition Graphic Heroes, Magic Monsters: Japanese Prints by Utagawa Kuniyoshi from the Arthur R. Miller Collection (through June 13), an expert panel exploring 150 years of U.S.-Japan trade relations (May 19), the annual sake tasting and lecture (May 19), a live webcast for schools with survivors of the atomic bombing of Japan (May 21), a book-signing with the eighteenth head of the family that ruled Japan 1603-1868 (May 25), a discussion about Japan's environmentally and aesthetically unsurpassed bath culture (May 26), a keynote address by United States Senator Daniel Inouye (June 14), and JAPAN CUTS, North America's largest festival of contemporary Japanese cinema (July 1-16). For more information on all events at Japan Society, visit http://www.japansociety.org/calendar.

Activities at Japan Society are set against a stunning backdrop of indoor gardens, a reflecting pool and a waterfall. Facilities include a 262-seat theater, art gallery, language center, library and conference rooms. Japan Society’s landmark building—located near the United Nations on 47th Street and First Avenue—was designed by architect Junzo Yoshimura and opened in 1971 as the first building in New York City by a leading Japanese architect.

Japan Society is located at 333 East 47th Street between First and Second Avenues. For further information on all Japan Society programming, visit www.japansociety.org or call 212-832-1155.

# # #

Shannon Jowett
Japan Society
T: (212) 715-1205
F: (212) 715-1262
E: sjowett@japansociety.org

Kuniko Shiobara
Japan Society
T: (212) 715-1249
F: (212) 715-1262
E: kshiobara@japansociety.org

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