2018 Annual Report

Committee for Economic Development Reasoned Solutions from Business in the Nation’s Interest 2018 Year-in-Review MESSAGE FROM THE PRESIDENT, COMMITTEE FOR ECONOMIC DEVELOPMENT (CED)

In 1942, President Roosevelt asked American business leaders to help transition America from a wartime to a peacetime economy. In response to that request, the Committee for Economic Development (CED) was founded by a small group of leading business leaders who were concerned with the global economy and its impact on American society. Early efforts by CED resulted in major policy accomplishments including the Marshall Plan and the Bretton Woods Agreement which established both the World Bank and International Monetary Fund (IMF). By rebuilding Europe, these programs had a profound impact on the global economy which led to the greatest period of economic expansion across the globe.

Over the past seventy-six years, CED has continued to bring together leading business leaders, policy-makers and academics to shape the intersection of business, government and society. More recently, our programs have had a significant impact in identifying the importance of strengthening our educational systems, particularly pre-kindergarten and secondary education. We have also been advocates for campaign finance reform, greater government fiscal responsibility, healthcare transformation, women-in-leadership and a sustainable system of free enterprise.

Over this period, what has remained constant is CED’s commitment to business-led, nonpartisan solutions that put the interests of the nation above any corporate or self- interests. CED’s role in providing reasoned solutions in our nation’s interest has never been more urgent. The polarization of our political system, coupled with dangerous attacks on our systems of free enterprise and democratic institutions call for open and civil debate, not a retrenchment from well thought out policy positions. At CED we are dedicated to civil discourse and spirited disagreements that serve to strengthen the American democratic culture. Moving forward, our research agenda is focused on identifying public policies that foster prosperity for all Americans while enabling continued global economic leadership into the 21st century economy by the U.S.

During this past year CED continued to provide well-researched analysis and reasoned solutions to our nation’s most critical economic issues. We released a report on the urgency of addressing the national debt along with a primer series of reports on what the national debt is and how it affects Americans. In the reports, we advocate for reforming our tax and health care systems as introductory ways to lower the national debt. Additionally, we published a policy analysis on the benefits of raising immigration levels. The study found that increased immigration alone directly addresses the problem of fewer workers contributing to the U.S. economy.

Early childhood education remained a priority throughout the year as we launched our Business Champions for the Advancement of Early Childhood Education initiative and created an online clearinghouse of resources for early childhood education advocates, policymakers, and business leaders. Notably, the W.K. Kellogg foundation awarded CED a grant to improve the quality of the early learning workforce in three target states. We also continued to produce research in K-12 education and workforce readiness to ensure future generations of Americans continue to contribute productively to the economy.

continued on next page We continued to shed light on government ethics by producing an analysis on unfair, partisan redistricting practices. The report found that both major parties use and abuse redistricting to gain unfair advantages in democratic elections. CED Trustees supplemented the report by providing commentary in both local and national news outlets.

In 2018, CED and The Conference Board celebrated its respective 75th and 100th anniversaries following our Spring Policy Conference at the Willard InterContinental Hotel in Washington, D.C. Our keynote speakers included former Senator Joseph Liberman, who focused his remarks on how the business community can advance bipartisan policies in the nation’s interest, and Ambassador Susan Schwab, former US Trade Representative, who discussed what’s at stake in global trade policy.

Our annual spring and fall policy conferences continued to serve as a platform for discussions on critical economic and educational issues while the Distinguished Performance Awards Dinner in New York City honored six business leaders with awards that highlighted their contributions in the education, public policy, business statesmanship, leadership, corporate citizenship, and diversity arenas.

On behalf of my colleagues at CED, I would like to express my sincere appreciation for your continued support of our mission. Without your generation contributions none of this would be possible.

Thank you,

Bernard C. Bailey President Committee for Economic Development THE COMMITTEE FOR ECONOMIC DEVELOPMENT OF THE CONFERENCE BOARD (CED)

A Distinguished History The Committee for Economic Development CED’s membership structure offers business (CED) was founded in 1942 during World War leaders an opportunity to impact public policy II by a group of business leaders who were in numerous areas and through multiple concerned about the future of the global platforms, including: formulating policies that economy. In 2015, CED joined The Conference are derived from rigorous research; briefing Board, a global, independent business lawmakers about the need for sound policies; membership and research organization and raising issue awareness by participating in working in the public interest. events and media interviews across the U.S. CED’s work in those first few years led to great policy accomplishments, including the Bretton Woods Agreement, establishing both the World Bank and International Monetary Fund, and the Marshall Plan, the economic development program that helped rebuild Europe. In recent decades, CED has made significant contributions across its portfolio, including increasing access to pre-kinder- garten and college, advancing campaign finance reform nationwide, placing more women in corporate leadership, and reducing government spending. Today, CED continues to have an impact through its trusted research and advocacy. Comprised of the nation’s leading business executives, CED Members lend their voice and expertise to pressing economic and educational issues. Together with CED, Members work to: Learn more about CED online: • Improve the nation’s fiscal health www.ced.org • Transform health care Find us on Facebook. • Sustain and promote free enterprise Follow us on Twitter: • Enhance corporate governance @cedupdate • Reform campaign finance • Strengthen education

4 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT www.ced.org 2018 Year in Review The Committee for Economic Development In the media, CED remained a strong of The Conference Board (CED) is a nonprofit, advocate for fiscal responsibility by publishing nonpartisan, business-led public policy numerous op-eds on the urgency for lowering organization that delivers well-researched the national debt in outlets including analysis and reasoned solutions to our nation’s RealClearPolicy, The Hill, and The Fiscal Times. most critical issues. CED’s work is grounded on seven core principles: sustainable capitalism, long-term economic growth, efficient fiscal and regulatory policy, competitive and open markets, a globally competitive workforce, equal economic opportunity, and nonpartisanship in the nation’s interest. CED’s research falls under five issue areas: fiscal health, education, global competitiveness, women in leadership, and money in politics.

Fiscal Health CED started the year by publishing The Power Education of More Foreign-Born Workers in response Early childhood education has long been to the ongoing debate over immigration central to CED’s research and outreach reform. The report details how raising agenda. At our Fall Policy Conference in immigration levels can boost our nation’s November, we launched Business Champions economic prosperity. As part of outreach, CED for the Advancement of Early Childhood published an op-ed for CNBC and produced Education, which engages executives a podcast which outlined how policymakers nationwide to promote high-quality early from both parties can strike an effective, learning opportunities for all children. CED also bipartisan deal on immigration that will foster created an online clearinghouse of resources economic growth. that business leaders, policymakers, and In April, CED published Time to Face Up, an other advocates can use to strengthen the analysis with bipartisan, long-term solutions quality of early learning and care. Last year, for constraining the proliferating debt. The CED published a report on the benefits of the report was supplemented with the creation of early education workforce investment credit our Debt 101 Series, a set of policy briefs and and this year we brought together Melanie a podcast series that address various aspects Bronfin, Executive Director of the Louisiana of the national debt, including its primary Policy Institute for Children; Louise Stoney, a drivers, for the younger (especially Millennial) national early learning and financing expert; generations. Along with the series, CED and Sonjia Joseph, Executive Director at produced a webcast with CED’s Joe Minarik Clara’s Little Lamb Preschool Academy in New and CED Trustee Bo Cutter on the urgency of Orleans, for a podcast to find out what other addressing the national debt. states can do to make a difference in early childhood education.

www.ced.org 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT 5 The W.K. Kellogg Foundation awarded CED a Petters, CEO, Huntington Ingalls Industries, substantial new grant to develop and engage about the importance and resurgence of our business advocates, who are interested apprenticeship programs as a workforce and involved in the education sector, over a development strategy. two-year period in several target states. In CED remained vocal about the importance of Minnesota, Alabama, and Oregon, our goal investing in education by publishing op-eds is to improve the quality of the early learning in U.S. News & World Report, InsideSources, workforce. CED also developed a feasibility The Hill, CNBC, FutureEd, Education Week, study to expand early learning in Mecklenburg Machine Design, WalletHub, and Mississippi County, North Carolina. As a result of our Daily Journal. Additionally, podcasts on partnership efforts, over 550 4-year-olds workforce readiness and charter schools have been enrolled in the new County pre-k amplified CED’s recommendations. program as of December 30. For K-12 education, CED published a report on charter schools, Charting a Path Forward for Charter Schools, which provides an overview of charter schools and their effectiveness. In the workforce readiness domain, CED issued a study in March on how high school students can transition effectively into the workforce. The research was a culmination of a year-long listening tour, in which parents and business leaders in various parts of the country came together to discuss workplace demands and aspirations for the nation’s graduates. The Conference Board’s Steve Odland, and CED’s Women in Leadership Vice President of Education Programs, Cindy Cisneros, co-authored an op-ed in CNBC that CED continued promoting awareness around highlights key findings of the report. gender diversity through its Advancing Women in Corporate Leadership initiative. On the postsecondary front, CED hosted a Led by our Advancing Women in Corporate Capitol Hill Briefing in April that addressed Leadership subcommittee co-chairpersons how we can build a successful postsecondary and Business Champions, these executives education system for the 21st century through participated in podcasts and spotlights that the reauthorization of the Higher Education addressed best practices in moving more Act (HEA). CED Trustees Chris Gabrieli, women to the top echelons of leadership. As Board Chair, Massachusetts Department of part of this effort, CED presented research Higher Education; E. Gordon Gee, President, on female CEO succession in conjunction with West Virginia University; and Scott Pulsipher, Korn Ferry before 100 CHRO’s in New York at President, Western Governors University; were The Conference Board’s CHRO conference, joined by Van TonQuinlivan, Vice Chancellor “Advancing Women in Corporate Leadership of California Community Colleges and Paul Positions,” held in September. Additionally, Fain, News Editor of Inside Higher Education CED Trustees and Subcommittee Co-Chairs, to discuss how HEA reauthorization could Ron Marshall and Debra Perry, participated in address higher education’s biggest obstacles The Conference Board’s 14th Annual Women’s through innovation. In addition, we conducted Leadership Conference by discussing effective a podcast interview with CED Trustee, Mike ways to increase the number of women in

6 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT www.ced.org boardrooms. Early next year, CED will release a report on what companies can do to get more women into the c-suite and on corporate boards. Through essays in both national and global publications, we stressed the benefits of more diversity in leadership, and outlined CED’s proven solutions.

Money in Politics In the area of money in politics, CED’s latest analysis, Solving the Problem of Partisan Gerrymandering, shed light on unfair redistricting practices. CED’s Money in Politics Subcommittee Co-Chairs – Trustees Robert Kueppers, Nathan Owen Rosenberg, and Jane Sherburne – authored essays for both national and local publications on how best to prevent abuses in the current system. Experts from the Campaign Legal Center, Trevor Potter and Paul M. Smith, explained the need to fix broken redistricting practices in a CED webcast, hosted by CED’s Mike Petro. CED received a new grant from the Thornburg Foundation to enlist the support of Research & Polling, Inc. (R&P) to conduct and release a poll of business leaders in New Mexico in January 2019 on issues related to ethics, public financing of elections, and open primaries.

www.ced.org 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT 7 Policy Conferences Our Spring and Fall Policy Conferences convened leaders from business, academia, and government to consider issues at the forefront of national economic and educational priorities. Following the Spring Policy Conference, CED and The Conference Board celebrated their respective 75th and Centennial anniversaries with a special dinner featuring Ambassador Susan Schwab and former Senator Joe Lieberman as keynote speakers. As part of the Fall Policy Conference, CED honored Thomas J. McInerney, President and CEO of Genworth Financial, Inc. with the Leadership in the Nation’s Interest Award. His longtime friend and colleague, Kathy Murphy, President of Fidelity Personal Investing, presented Tom with the Award. Topics: • Fiscal Health Outlook • Workforce Readiness • Global Economic Trends • Regulation Practices • Gerrymandering • Higher Education • Energy • Midterm & Presidential Elections

8 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT www.ced.org Distinguished Performance Awards Dinner Building on our tradition of promoting CED’s honorees were recognized for their exemplary leadership, CED’s annual contributions beyond the boardroom, including Distinguished Performance Awards Dinner in public policy, education, diversity, corporate New York City honored six business leaders citizenship, statesmanship, and governance. who have led their companies and communities In 2018, the following business leaders were with distinction. recognized at the Pierre Hotel in New York City before an audience of nearly 500 corporate, academic, and civic leaders.

Ellen R. Alemany Michele Buck Greg Case Emanuel “Manny” Beth Mooney Julie Sweet Chairwoman and President and CEO CEO Chirico Chairman and CEO CEO CEO The Hershey Aon Chairman and CEO KeyBank Accenture North CIT Group Company Owen B. Butler PVH Corp. Leadership in America Peter G. Peterson Corporate Education CED Leadership Diversity Award Excellence in Public Business Citizenship Award Excellence Award Award Award presented by: Policy Award Statesmanship Award presented by: Award presented by: Award presented by: Randall Stephenson Award presented by: Award Ted Mathas Edward B. Rust, Jr., Ronald A. Williams Chairman and CEO Mike Gregoire Award presented by: Chairman and CEO Chairman Emeritus Chairman and CEO AT&T Chairman and CEO Thomas B. Michaud New York Life State Farm Insurance RW2 Enterprises, CA Technologies President and CEO Companies LLC KBW, A Stifel Company

www.ced.org 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT 9 CED, from the Beginning

1945-46 1947 1948 1942 CED’s work contributes to the October 16: CED's The Marshall Plan Bretton Woods Agreement, annual meeting CED releases a policy September: establishing the addresses the statement that becomes CED is World Bank and economic recovery. The Marshall Plan, International Monetary Fund. An American Program of founded. European Economic Cooperation. April 3, 1948: President Truman signs The Marshall Plan. 1963

“Because of your concern for the public interest, it seems to me that perhaps more 1960 1958 1957 attention is paid to the deliberations of the CED than Long-Term Economic Growth October 6: CED convenes CED releases a statement almost any other organization Edward Denison conducts first Subcommittee President detailing policies that dealing with national problems. study of long-term economic John F. Kennedy on Fiscal, encourage independence This is an enviable reputation, growth and its contributions Monetary, and Debt and prosperity in the one which you continue to and origins at CED, The Management. underdeveloped nations guard and, therefore, it has, it Sources of Economic Growth. of the free world, seems to me, been rewarded Economic Development by the response hich this Assistance. organization receives from the public and from public o cials.” October 6: CED convenes Subcommittee President John F. Kennedy

1968 1971 1978 1982

American School Reform Social Responsibilities of May 16-18: CED calls for “I applaud the timely focus of CED releases Innovation in Business Corporations government reform. the Committee for Economic Education: New Directions for Following CED’s 25th Development on the issue of the American School. anniversary in 1967, Trustees productivity as the key to the Mondy in Politics commit to addressing social economic future of the CED releases its first money in problems of communities, United States…. politics report, Financing a including welfare, Your members bring priceless Better Election System. unemployment, and education knowledge and experience for the disadvantaged. from corporate and academic life to our public policy forums.” President Ronald Reagan

1991 1988 1985 1983

CED Trustees Address Business-Education CED releases Investing CED releases Strengthening Education Reform Former Partnerships CED Chairman in Our Children. the Federal President Jimmy Carter Brad Butler, Chairman, Budget Process: A meets with CED Trustees Procter & Gamble, leads the Requirement for Hugh Chapman, Chairman, first series of Fortune’s Eective Fiscal Control. Nations Bank, and Earl business-education summits. Graves, Publisher, Black Enterprise Magazine, to address Atlanta’s education reform efforts.

1992 1999 2002 2002

“From its inception in 1942 CED Trustees Take on Business Supports Early “I commend CED members through the recent end of the Campaign Finance Reform Education CED Chairman, for your commitment to public Cold War, the CED and its CED releases the policy Roy J. Bostock, Chairman, policy initiatives that impact trustees have made significant statement, Investing in the BCom3 Group, champions the quality of life for contributions toward the social People’s Business: early education. CED files Americans and people and economic development of A Business Proposal for Amicus Brief and U.S. Supreme around the globe.” the United States and other Campaign Finance Reform. Court upholds Bipartisan President George W. Bush nations around the globe.” Campaign Reform Act of 2002. President George H. W. Bush

Source: The Conference Board, 2019. 10 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT www.ced.org 2004 2004 2005

CED’s Annual Meeting E-Commerce and CED Reignites Campaign Addresses Long-Term Growth Policy Finance Work CED releases U.S.-China Relations China’s CED’s Council on the Digital Building on Reform: Ambassador to the Economy releases a report A Business Proposal United Nations, Wang on intellectual property, to Strengthen Campaign Guangya, discusses U.S.- Promoting Innovation and Finance. China relations, trade, and Economic Growth. monetary policies.

2009 2007

Business Involvement in Early Education CED Advocates Health Care Reform Led by former PNC Chairman James CED releases a policy statement with Rohr, CED issues Unfinished Business, recommendations to improve the quality, encouraging business leaders to cost, and coverage of health care in assume a more active role in advocating America, Quality, Afordable Health Care for early education programs. for All: Moving Beyond the Employer- Based Health-Insurance System.

2013 2014 2015

CED launches the Sustainable As part of CED’s College- and CED releases Adjusting the Prescription, Capitalism Project to encourage Career-Ready Project, a a market-based plan to transform health business leaders to take a more taskforce of business leaders is care; The Role of Business in Promoting expansive role in their societal assembled to support the Educational Attainment,detailing how responsibilities and embrace implementation of high-quality companies advance the higher education business statesmanship. K-12 standards. of employees; and Crony Capitalism: Unhealthy Relations Between Business CED launches the Every Other and Government, a report on the rise of One initiative to increase female cronyism and solutions to combat representation on U.S. the problem. corporate boards. CED joins with The Conference Board

2017 2016

Amid a new Administration CED launches the To commemorate its CED releases research to combat and Congress, CED produced “Advancing Women in 75th anniversary, CED escalating national challenges, including relevant and timely research Corporate Leadership” publishes Sustaining proliferating entitlements (Modernizing on tax reform, education, initiative to encourage Capitalism: Medicare) and stark inequality (Tackling healthcare, regulation, corporations to increase Bipartisan Solutions Economic Inequality, Boosting immigration, trade, and female representation to Restore Opportunity). infrastructure investments. in corporate leadership. Trust & Prosperity. CED makes policy podcasts a staple of its outreach to concerned citizens nationwide.

2018

CED launches the “Business Champions for the Advancement of Early Childhood Education” initiative, which is a collaboration between business leaders and education experts to increase the quality, access, and affordability of early learning opportunities for all children across the country. Bernard C. Bailey becomes President of CED

www.ced.org 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT 11 THANK YOU TO OUR 2017-2018 SUPPORTERS

Lawrence D. Ackman John Barrett California Institute of Cravath, Swaine & Moore LLP Western & Southern Financial Technology ADP W. Bowman Cutter Anthony Barrueta Carl T. Camden The Roosevelt Institute The Aerospace Corporation Kaiser Foundation Health Plan, Inc Gregory Cappelli CVS Health Aetna Lydia I. Beebe Apollo Education Group, Inc. DAV Disabled American Nancy Agee Peter A. Benoliel Teresa Carlson Veterans Carilion Clinic Quaker Chemical Corporation Amazon Web Services (Ret.) Paul T. Decker Airbus Carnegie Corporation of New Mathematica Policy Research Inc. Ellen Alemany Avi Benus York IMPAQ International Claudio Del Vecchio CIT Group Diego Casanello Brooks Brothers Group, Inc. Chris Aliotta Sandy Berg Arysta LifeScience Berg Family of Companies Democracy Fund Colgate-Palmolive Company Greg Case William “John” Berger Aon Michelle Dennedy Alliance for Early Success Sunnova Energy Corporation Cisco Systems Case Western Reserve Ally Financial Nomi Bergman University DEPOMED Advance Newhouse Alston & Bird The Dickinson Foundation Communications The Cedars Foundation American Council of Life Dick’s Sporting Goods BET Networks Centurion Military Alliance Insurers (a Viacom Company) CFA Institute Joe DiDomizio Hudson Group American Express BGD Holdings, LLC Michael Chesser Great Plains Energy, Inc. (Ret.) Dietz & Watson American Honda Motor Shideh Bina| Insigniam Chicago Academy of Sciences DiversityInc Company, Inc. Bloomberg Philanthropies The Children’s Place Dominion Energy AmerisourceBergen The Boeing Company Emanuel Chirico William H. Donaldson Anomaly Donaldson Enterprises Pat Bond PVH Corp. Michael G. Archbold Federal Home Loan Bank of Chubb Robert H. Dugger GNC Holdings, Inc. (Ret.) Pittsburgh Hanover Provident Capital LLC David Chun Arizona State University The Boston Consulting Group Equilar, Inc. Dun & Bradstreet Tom Armstrong The Boston Foundation John Clendening Jeffrey D. Dunn Duer Carolina Coil, Inc. Sesame Workshop James Brady Blucora, Inc. The Association of Independent Grant Thornton Jim Clerkin Early Learning Policy Group Workers (IPSE) Mary Brady Moët Hennessy North America EcoHealth Alliance Back on My Feet Economic Club of Washington, Cleveland Clinic Janice Ellig Bernard Bailey D.C. CNA Insurance The Ellig Group Authentix Angela Braly Artemis Emslie The Braly Group, LLC The Coca-Cola Company Balzano Associates AGM Holdings Company Bridge Alliance Colgate University Bank of America Evercore Convenience Distribution Bank of the West BT Group Association Fashion Institute of Technology Michele Buck Barnes & Noble Inc. Roger W. Ferguson, Jr. The Hershey Company Marc J. Cooper TIAA Pamela Barnhill PJ SOLOMON InnSuites Hospitality Trust, IBC Kenneth Burdick David Cordani Robin A. Ferracone Hospitality Technologies, & IVH WellCare Health Plans Inc. Cigna Farient Advisors Travel Burlington Stores George Corona Fidelco Guide Dog Barbara M. Barrett The Business Council of Kelly Services, Inc. Foundation, Inc. Triple Creek Guest Ranch New York State Edward F. Cox Field Trip Factory The Craig and Barbara Barrett Michael M. Byram Patterson Belknap Webb & Tyler Howard Fluhr Foundation University of Colorado Foundation LLP The Segal Group George S. Barrett (Ret.) Cardinal Health

12 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT www.ced.org THANK YOU TO OUR 2017-2018 SUPPORTERS

Ford Foundation Heidrick & Struggles Kelley Drye & Warren LLP Patricia A. McKay Fordham University Ben W. Heineman, Jr. W.K. Kellogg Foundation Cecilia McKenney Harvard University Henrietta H. Fore KemperLesnik Mecklenburg-Early Learning Holsman International Bob Hellman, Jr. American Infrastructure Funds KinderCare Education Merck Foundation for Child Development Jack Hockema Jo Kirchner Steve Messinger Kaiser Aluminum Corporation Primrose Schools ECG Management Glenn Fuhrman MSD Capital, LP Holland & Knight LLP Ronald J. Klein Thomas Michaud Holland & Knight LLP Keefe, Bruyette & Woods (A Stifel Daniel Fulton Mike Hopkins Company) Weyerhaeuser (Ret.) Ice Energy Kohl’s Microsoft G-III Apparel Group, Ltd. Host Hotels & Resorts, Inc. Richard Kramer The Goodyear Tire & Rubber Michael Monahan Chris Gabrieli R. Glenn Hubbard Company Pitney Bowes (Ret.) Empower Schools Columbia Business School Robert J. Kueppers Paul M. Montrone John Garrison The Hubbard Broadcasting Deloitte LLP (Ret.) Liberty Lane Partners Terex Corporation Foundation Reece Kurtenbach Beth Mooney E. Gordon Gee Constance Hunter Daktronics KeyBank West Virginia University KPMG LLP Thomas F. Lamb, Jr. Nicholas G. Moore General Mills, Inc. Glenn H. Hutchins PNC Financial Services Group, Inc. Morgan Stanley Gilda’s Club New York City Independent Women’s Forum Land O’ Lakes, Inc. (IWF) Allen Morrison Sean Glass David H. Langstaff Thunderbird School of Global Advantia Health Interpublic Group Argotyche, Inc. Management Gregory Goff iWorker Innovations, LLC James A. Lawrence Brian Murdock Andeavor Corporation Great North Star Strategic Investment Group J3 Earl ‘Butch’ Graves, Jr. Lazard Kathy Murphy Black Enterprise JCPenney Fidelity Personal Investing Martin L. Leibowitz Greater Richmond Partnership Larry Jensen Morgan Stanley Joel N. Myers Cushman & Wakefield/ AccuWeather Mike Gregoire Commercial Advisors Mark Leiter CA Technologies Leiter & Company NABHOOD John Johns Patrick W. Gross Protective Life Corporation Lincoln Financial Group NASDAQ The Lovell Group Johnson & Johnson Lowe’s Companies, Inc. David Nash The GROUP Jefferson College of Population Blair Jones Robert Lundeen Trust Health, Thomas Jefferson The Guardian Life Insurance Semler Brossy Consulting Group, University Company of America LLC Mark Makepeace FTSE International Limited National Aeronautic Association John Haley The Joyce Foundation Willis Towers Watson Marriot International, Inc. Annette Nazareth Pres Kabacoff Davis Polk & Wardell LLP Doug Hammond HRI Properties Ron Marshall NFP Corp. Claire’s Bridget Neill Matt Kaness EY Kathy K. Hannan Modcloth (Ret.) MassMutual KPMG LLP (Ret.) Ted Mathas Thomas C. Nelson Kansas State Foundation National Gypsum Victoria Harker New York Life TEGNA, Inc. Sandy Kapell Nestlé USA Madison Square Garden Mayer Brown LLP HARMAN Newmark Knight Frank Laura Karet Daniel McCarthy Ambassador Giant Eagle, Inc. Frontier Communications New York Council, Navy League Anthony Harrington Martha McGarry of the United States Albright Stonebridge Group Joseph E. Kasputys Economic Ventures LLC Skadden, Arps, Slate, Meagher & Takeshi Niinami Hollis W. Hart Flom LLP Suntory Holdings Limited Citi (Ret.) Ewing Marion Kauffman Foundation Tom McInerney Gary Norcross Paul Haskin Genworth Financial Fidelity National Information CBRE, Inc. Kaufman & Company Services, Inc. [FIS]

www.ced.org 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT 13 THANK YOU TO OUR 2017-2018 SUPPORTERS

Karen O’Byrne Jeffry Quinn Sidley Austin LLP Charles Tuggle Modernizing Medicine Tronox First Horizon National Corp. Frederick W. Smith Hilda Ochoa-Brillembourg RAND Corporation FedEx Corporation U.S. Travel Association Ronald P. O’Hanley James Q. Riordan Richard K. Smucker Myron ‘Mike’ Ullman, III State Street Corporation Quentin Partners Co. The J.M. Smucker Company Starbucks Ohio Capital Corporation for Henry Ristuccia Edward ‘Ted’ Snyder UM Housing (OCCH) Deloitte LLP Yale University School of Management United Airlines John F. Olson Michael Robinson Gibson, Dunn & Crutcher LLP (Ret.) Broadview Networks (Ret.) Robert J. Stanzione University of Bridgeport ARRIS Group Inc. Out & Equal Workplace Rockefeller Brothers Fund, Inc. University of Nebraska Advocates The Starr Foundation Rockwell Automation Unum Pace Communications State Street Global Advisors Daniel Rose Daisy Vanderlinde Steffen E. Palko Rose Associates, Inc. Jerre L. Stead GNC Holdings, Inc. (Ret.) Texas Christian University DTN Mark H. Rosenberg Vedder Price P.C. Partnership for New York City MHR Fund Management LLC Glenn Steele Verizon xG Health Solutions, Inc. William Pate Nathan Rosenberg VH Strategies Par Pacific Holdings, Inc. Insigniam Randall Stephenson AT&T Stephen Viehe Gavin Patterson Ross Stores, Inc. AFCO BT Group plc Scott Stephenson Rothschild Asset Management Verisk Analytics, Inc. Visa David Peckinpaugh Maritz Global Events Edward B. Rust, Jr. Paula Stern Kristen Visbal State Farm Insurance Companies The Stern Group Debra Perry Robert S. Walker Korn Ferry and Genworth Financial S&P Global David Stetson Wexler|Walker Alpha Natural Resources C. Gregg Petersmeyer Steve Sadove Brian Ward Personal Pathways Stephen Sadove and Associates Jane Stevenson Trimont Real Estate Advisors Korn Ferry The Peter G. Peterson Stephen W. Sanger Weber Shandwick Foundation General Mills, Inc. (Ret.) Roger W. Stone Weil, Gotshal & Manges LLP KapStone Paper and Packaging Michael Petters Maria A. Sastre Corp. Tony West Huntington Ingalls Industries Signature Flight Support (Ret.) PepsiCo Stuart Family Foundation Todd E. Petzel Save the Children Melinda White Offit Capital Advisors LLC Sullivan & Cromwell LLP John Schlifske Transit Wireless The Policy Circle Northwestern Mutual Julie Sweet Scott Wieler Accenture North America Vicki Poponi Alan D. Schwartz DCS Advisory American Honda Motor Company, Guggenheim Partners, LLC Symphony EYC William & Mary Inc. Christine Schyvinck Synovus The Williams Capital Group, LP Robert Popovian Shure Incorporated Teaching Strategies Pfizer Inc. Stefan Selig Keith Williams Underwriters Laboratories Inc. Glen F. Post, III BridgePark Advisors Fredrick W. Telling Pfizer Inc. (Ret.) CenturyLink (Ret.) Pete Selleck Ronald A. Williams RW2 Enterprises, LLC Powell Tate Michelin North America, Inc. (Ret.) Larry Thompson PepsiCo, Inc. (Ret.) Scott Wine Al Prieto Sheppard, Mullin, Richter & Polaris Industries Inc. Egon Zehnder Hampton LLP Thornburg Foundation John Wood Scott Pulsipher Jane Sherburne Three Rivers Youth Sherburne PLLC Telos Corporation Western Governors University TOPCO Associates LLC Jacob J. Worenklein PwC LLP Gregg Sherrill Tenneco Inc.(Ret.) Tallman Trask, III US Grid Company Quest Diagnostics® Duke University Gary Shorb Thomas J. Quinlan, III The Urban Child Institute Bobby Tudor LSC Communications Tudor, Pickering, Holt & Co.

14 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT www.ced.org TRUSTEE OPPORTUNITIES

CED Trustees are comprised of individuals at the Chair, • Media and Marketing Opportunities: CED CEO, President, or other senior leadership level of a provides opportunities to deliver commentary company or academic institution. Trustees are afforded and author opinion pieces on CED’s website the unique opportunity to contribute business insights to and blog, as well as to contribute to national our nation’s most critical economic and educational issues media publications and industry journals. Other by participating in a variety of activities, including: marketing opportunities include but are not limited to podcasts, webcasts, website spotlights, The Policy & Impact Committee: CED’s Policy & Impact and social media campaigns that highlight Committee directs the research plans and approves all Trustees and their organizations. policy positions. • Awards Programs: The Distinguished • Subcommittees: CED’s Subcommittees meet Performance Awards Dinner and Leadership in regularly via conference call to review and provide the Nation’s Interest Award programs provide input on research and outreach plans. Current opportunities for CED to honor business leaders Subcommittees include: Education, Health Care, who have served in the nation’s interest and Advancing Women in Corporate Leadership, championed what CED refers to as “business Sustainable Capitalism, Fiscal Health, and Money statesmanship.” The Distinguished Performance in Politics. Awards Dinner, held annually in New York City, • Policy Conferences: CED hosts two national traditionally hosts 500 civic and political leaders. policy conferences each year in Washington, CED bestows the Leadership in the Nation’s D.C. These meetings bring together government Interest Award during its two policy conferences officials and industry experts for policy discussions in Washington, D.C. The Award is reflective and networking. Conference attendance of business leaders who lead their company is approximately 250 senior officials, with with integrity and champion policies for the sponsorships available to partner on specific CED common good. CED Trustees also gain access programs. to research and events from The Conference Board, a nonprofit, global, independent business • Policy Briefings: All CED Trustees receive weekly membership and research organization. newsletters (which also showcase the good work of our Trustees) and the opportunity to participate in monthly policy briefings and, throughout the year, policy forums across the U.S.

For additional information on becoming a Trustee, please contact Amanda Turner: [email protected] or 202-469-7820 To learn more, you can also visit CED’s website: www.ced.org

www.ced.org 2018 YEAR-IN-REVIEW THE COMMITTEE FOR ECONOMIC DEVELOPMENT 15 ORIGINAL CED BOARD OF TRUSTEES (1942)

James F. Bell, Chairman of the Board, General Mills William Benton, Co-Founder, Benton & Bowles W.L. Clayton, Anderson, Clayton, & Co. Chester C. Davis, President, Federal Reserve Bank of St. Louis Ralph E. Flanders, President, Jones & Lamson Machine Company Marion B. Folsom, Treasurer, Eastman Kodak Company Clarence Francis, President, General Foods Paul G. Hoffman, President, The Studebaker Corporation Lou Holland, President, Holland Engraving Charles R. Hook, President, The American Rolling Mill Co. Reagan Houston, Industrialist and Merchant, San Antonio, Texas Eric A. Johnston, President, Brown-Johnston Co. Harrison Jones, Chairman, The Coca-Cola Company Charles F. Kettering, Vice President, General Motors Research Corporation Thomas B. McCabe, President, Scott Paper Company Reuben B. Robertson, Executive Vice President, The Champion Paper and Fiber Company Edgar B. Stern, Royal Street Corporation John Stuart, Chairman, The Quaker Oats Company

Learn more about CED online: www.ced.org Find us on Facebook Follow us on Twitter: @cedupdate

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