Henry D. G. Wallace Elected to Ambac Board of Directors
05 Maggio 2004 - 10:43PM
PR Newswire (US)
Henry D. G. Wallace Elected to Ambac Board of Directors NEW YORK,
May 5 /PRNewswire-FirstCall/ -- Ambac Financial Group, Inc. (Ambac)
announced today that shareholders have elected Henry D. G. Wallace,
former Group Vice President and Chief Financial Officer of Ford
Motor Company, to its Board of Directors. The addition of Mr.
Wallace to the Ambac Board increases its membership to nine. Of the
nine, other than the Chief Executive Officer, all are non-employee
directors. Commenting on the appointment, Ambac President and CEO,
Robert J. Genader, stated: "We welcome the addition of Mr. Wallace
to our Board. Henry's strategic planning and financial skills, as
well as his broad experience in international business and
operations, will be very valuable to Ambac as we continue to expand
our global reach." Mr. Wallace was Group Vice President and CFO of
Ford Motor Company, USA, from January 1999 until he retired in
December 2001. In 1998, Mr. Wallace served as Vice President of
Strategic Planning and CFO of Ford's European operations. From 1996
to 1997, he served as President and CEO of Mazda Motor Corporation
in Hiroshima, Japan. Prior to that, Mr. Wallace served in various
senior financial and operational positions within in the Ford
organization in Europe, Asia and South America. Mr. Wallace
currently sits on the boards of Diebold Inc. (member of the Audit
Committee and Investment Committee) and Hayes Lemmerz
International, Inc. (Chairman of Corporate Governance Committee and
member of the Compensation Committee). Ambac Financial Group, Inc.,
headquartered in New York City, is a holding company whose
affiliates provide financial guarantees and financial services to
clients in both the public and private sectors around the world.
Ambac's principal operating subsidiary, Ambac Assurance
Corporation, a leading guarantor of public finance and structured
finance obligations, has earned triple-A ratings, the highest
ratings available from Moody's Investors Service, Inc., Standard
& Poor's Ratings Services, Fitch, Inc. and Rating and
Investment Information, Inc. Ambac Financial Group, Inc. common
stock is listed on the New York Stock Exchange (ticker symbol ABK).
DATASOURCE: Ambac Financial Group, Inc. CONTACT: Investor/Media
Contact: Peter R. Poillon of Ambac, +1-212-208-3333, Web site:
http://www.ambac.com/
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