Building and Restoring Trust: Nation's CEOs Gather to Redefine Their Jobs and Celebrate Vanguard Founder Jack Bogle

New Haven, Conn.- January 14, 2003 - In the aftermath of the Bush Administration's newly announced economic policy package and the Conference Board's recent final recommendations on needed corporate governance reforms, more than 100 CEOs of the nation's largest firms will gather to discuss how new governance requirements, changing public scrutiny, and global geopolitics have changed their job definitions. This conference, "Building and Restoring Trust," is the 46th CEO Summit of The Chief Executive Leadership Institute of the Yale School of Management (SOM) - the nation's original CEO College - held at the Waldorf Astoria Hotel, New York City, January 14-15, 2003.

The participants include: U.S. Labor Secretary Elaine Chao; James Copeland, CEO of Deloitte Touche Tohmatsu; Eugene O'Kelly, CEO KPMG LLP; Rajat Gupta, Managing Director-Worldwide McKinsey & Co; John Tyson, CEO Tyson Foods; Richard Cavanagh, CEO The Conference Board; Douglas Warner, former CEO J.P. Morgan Chase & Co.; Rick Goings, CEO Tupperware; Stuart Miller, CEO Lennar; Toshiaki Taguchi, CEO Toyota Motors North America; Philip Lader, Chairman WPP Group; Mac Crawford, CEO Caremark Rx; legendary CEO of American Express James Robinson III; Brian Gallagher, CEO United Way of America; Peter Bell, CEO CARE USA; Ellen Futter, President American Museum of Natural History; Gregory Prince, President Hampshire College; Thomas James, CEO Raymond James Financial; Reuben Mark, CEO Colgate-Palmolive Company; James Hagedorn, CEO The Scotts Company, and 90 other prominent leaders across sectors and two dozen distinguished management scholars from Yale, Harvard, Columbia, NYU, Fordham, and other universities.

Bill George, former CEO of Medtronic, will speak for the group in presenting the institute's renowned Legend in Leadership Award to The Vanguard Group founder Jack Bogle. Bogle, a pioneer in defending the individual investor for 50 years, is considered a father of the American corporate governance reform movement. He has long been an outspoken critic on the ways many mutual funds are marketed and high fees are hidden. In an inspirational model of resilience, he founded Vanguard in 1974 after having been fired as President of the Wellington Management Company. Today Vanguard is the second largest mutual fund organization comprising more than 100 mutual funds with assets totaling over $600 billion. The much-admired Vanguard 500 Index Fund is the world's first index mutual fund. Fortune magazine has named Bogle one the four "Giants of the Investment Industry of the 20th Century."

Frequently quoted in the business media for guidance on investing and on governance reform, Bogle has written several books, his fourth and most recent book, Character Counts. Bogle presently serves on the Conference Board Blue Ribbon Commission of Public Trust and Enterprise.

"American investors and financial markets have been fortunate that Jack Bogle has been a beacon of light and integrity through some dark financial times," comments Jeffrey Sonnenfeld, Associate Dean of Yale SOM and President of Yale's Chief Executive Leadership Institute. "We are all great beneficiaries of the low cost/high integrity model of financial service innovations which Bogle has introduced. With his books on character and his service to commissions on public trust and enterprise, Jack Bogle is the ideal recipient of the Legend in Leadership Award," Sonnenfeld continued.

Past winners of this award include: Home Depot founder Bernard Marcus; Coca Cola President Donald Keough; PepsiCo CEO Roger Enrico; musician entrepreneur Quincy Jones; Viacom CEO Sumner Redstone; catalogue entrepreneur Lillian Vernon; Dunkin Donuts founder Bill Rosenberg; McKinsey Founder Marvin Bower; Washington Post publisher Katharine Graham; advertising CEO and presently Assistant Secretary of State Charlotte Beers; Bell South CEO John Clendenin; Wal-mart CEO David Glass; Rich Teerlink CEO of Harley-Davidson; Gordon Binder CEO of Amgen; Bill George of Medtronic; and Kemmons Wilson creator of Holiday Inns.