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Henry Crown and Company Announces New Board and Leadership

Henry Crown and Company (HCC), the family office for the Crown family, today announced a new governing board and leadership focused on ensuring the family business – and its various interests – perpetuates and succeeds for generations to come. This transition follows nearly a decade of deliberate, long-term planning undertaken by the Crown family, with the support of outside experts.

The newly formed Business Board will oversee HCC business operations, including oversight of portfolio investment objectives, investment and business policies and risk management. A. Steven (Steve) Crown will serve as Executive Chairman of the Board. The additional, initial members of the Business Board include William (Bill) H. Crown; Roger Ferguson, former President and CEO of TIAA; Craig C. Martin, a Chairman, Partner and member of the Executive Committee of Willkie Farr & Gallagher LLP; and Anne Mulcahy, former Chairman and CEO of Xerox.

Bill Crown will serve as CEO and President with executive responsibility for HCC business, and will report to the Business Board. Since joining the family business in 1993, Bill has served in various leadership positions including Co-President of HCC and CEO of CC Industries, a services company for the Crown family’s portfolio of industrial company assets.

Lester Crown, Chairman Emeritus of Henry Crown and Company, said, “For many years, our family and our advisers have been discussing, designing and planning a governance structure that supports the continued growth of our family and interests over the long term. The Business Board is key to that evolution, and I am enthusiastic about the strength of the founding board members and the values, integrity and experience they possess. Bill, Steve and Craig have critical knowledge of the Crown family enterprise, in addition to their professional skills and expertise. I am also grateful to Anne and Roger for contributing their immense talent and leadership experience to provide outside perspective.

“While our leadership structure has evolved, our values as a family remain the same. In addition to expanding our businesses, our family remains focused on supporting one another and giving collectively to charity. I’m confident our new structure will best serve our family, and help us continue to care for our customers, local communities and employees for the next 100 years and beyond.”

Board Biographies

Bill Crown

Bill Crown is CEO and President of HCC. Previously he served as Co-President and Chief Operating Officer at HCC, and CEO of CC Industries, where he oversaw a broad range of investments and wholly owned businesses across the industrial manufacturing sector. Prior to joining the family business in 1993, Mr. Crown served as Managing Director, Yield Management Operations for American Airlines, a company he joined in 1987. He also has served as a director of Alltel Telephone Company, director and chairman of Eltek ASA, and director of Lucile Packard Children’s Hospital. Mr. Crown has served as chair of the board of the Arie and Ida Crown Memorial at Crown Family Philanthropies and is currently a member of that board, the Education Committee and the Health and Human Services Committee, which he also previously chaired. Mr. Crown earned an M.S. in Industrial Engineering and Engineering Management and an undergraduate degree from Stanford University.

Steve Crown

Steve Crown is the Executive Chairman of the HCC Business Board. Previously he served as Co-President of HCC. He currently serves as Treasurer of the board of the Arie and Ida Crown Memorial at Crown Family Philanthropies, where he has chaired the Jewish and Israel Giving Committee. Mr. Crown is also a director of Farmers Investment Company in Arizona, Aspen Skiing Company and the Anti-Defamation League of B’nai B’rith, as well as a Trustee of The Art Institute of Chicago, Claremont McKenna College, Endeavor Health, Cleveland Clinic and Northwestern University. He currently serves on non-profit boards, including the Board of Governors for the School of the Art Institute of Chicago and is a member of the Civic Committee, Commercial Club of Chicago and the UCLA Anderson School of Management Board of Advisors. Mr. Crown received an M.B.A. from the University of California, Los Angeles, and an undergraduate degree from Claremont McKenna College.

Roger Ferguson

Roger W. Ferguson, Jr., is the Steven A. Tananbaum Distinguished Fellow for International Economics at the Council on Foreign Relations. He is the Immediate Past President and CEO of TIAA. Prior to joining TIAA, Mr. Ferguson was head of financial services for Swiss Re and Chairman of Swiss Re America Holding Corporation. Mr. Ferguson is the former Vice Chairman of the Board of Governors of the U.S. Federal Reserve System. Mr. Ferguson is currently the Chief Investment Officer at incubation firm Red Cell Partners, where he is also the Chairman of the Investment Committee and a Director. Mr. Ferguson is also the Executive Chairman of Andalusian Credit Partners. He began his career as an attorney at the New York City office of Davis Polk & Wardwell and was an Associate and Partner at McKinsey & Company. Mr. Ferguson is a member of the Smithsonian Institution’s Board of Regents. He is a fellow of the American Academy of Arts & Sciences. He serves on the boards of Alphabet, Inc.; Corning, Inc.; and International Flavors & Fragrances, Inc. Mr. Ferguson is also active as an advisor and board member with various private fintech companies. He serves on the boards of the Institute for Advanced Study, and Memorial Sloan Kettering Cancer Center and other non for profits. Mr. Ferguson holds a B.A., J.D., and a Ph.D. in economics, all from Harvard University.

Craig Martin

Craig Martin is a Chairman, Partner and member of the Executive Committee of Willkie Farr & Gallagher LLP. A “courtroom to boardroom” lawyer, Mr. Martin represents a number of Fortune 100 corporations, corporate boards and audit committees as a trusted and strategic advisor, a trial lawyer and a dealmaker. Mr. Martin has been a trusted advisor and lawyer for HCC, working closely with Lester, Steve and Bill Crown for more than 30 years. Prior to founding the Chicago office of Willkie, a global law firm, he was the Chairman of a national law firm. Mr. Martin is a member of the Aspen Institute, the Civic Committee, the Commercial Club of Chicago, the Economic Club of Chicago and the National Association of Corporate Directors. He serves on the boards of the Ann & Robert H. Lurie Children's Hospital of Chicago, the Lyric Opera of Chicago, the Chicago Urban League, the Chicago Council on Global Affairs, World Business Chicago, a Life Trustee and former Chairman of the board of the Boys and Girls Clubs of Chicago and formerly the Arie and Ida Crown Memorial at Crown Family Philanthropies. Mr. Martin also teaches at Harvard Law School and the Stanford Directors College, and served as a member of the Board of Advisors of the University of Chicago Law School. He is a member of the American Law Institute and the American Bar Association, among other legal organizations. He received the Judge Learned Hand Award for legal excellence form the American Jewish Committee. Mr. Martin holds a J.D. from Harvard University Law School and an undergraduate degree from the University of Notre Dame.

Anne Mulcahy

Anne Mulcahy is a 30-year veteran of Xerox and led the company through a massive transformation – reinventing Xerox into an innovative technology and services enterprise during her tenure as Chairman and CEO from 2001 – 2010. Prior to serving as CEO, Ms. Mulcahy was President and Chief Operating Officer of Xerox. She also served as President of Xerox’s General Markets Operations, which created and sold products for reseller, dealer and retail channels. She currently serves on the boards of Johnson & Johnson, where she was lead director from 2021-2024, LPL financial, and is chair of Graham Holdings. Ms. Mulcahy is also Chair Emeritus of Save the Children and Chair of the Nature Conservancy in Connecticut and previously served on the boards of Target and Citigroup. She is also an Executive in Residence at Harvard University. Ms. Mulcahy received a B.A. from Marymount College of Fordham University.

About Henry Crown & Company

Henry Crown & Company (HCC) is the family office for the Crown family. With roots dating back to the founding of Material Service Corporation more than 100 years ago, HCC encompasses a variety of investments, operating companies and philanthropic endeavors on behalf of the Crown family.

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