The Giddiness is Gone: Nation's CEOs Gather to Address Recovery and Growth And to Honor Former Hershey Chairman Kenneth Wolfe

New Haven, CT, June 25, 2003 - As geopolitical crises stabilize and the world economy sputters back to health, 100 world-renowned chief executives, policy makers, and academics gather at the 47th CEO Summit of The Chief Executive Leadership Institute of the Yale School of Management. The meeting takes place at the Yale Law School, June 26-27, 2003. The conference, "The Giddiness is Gone: Resetting Paradigms for Growth," addresses the challenges of discovering hidden business opportunities within sectors that are currently not as readily identified as they were during the bubble economy.

The participants at this invitation-only event include: U.S. Labor Secretary Elaine Chao; SEC Commissioner Cynthia Glassman; Enron whistleblower Sherron Watkins; Colgate-Palmolive CEO Reuben Mark; John Thornton, President of Goldman Sachs; Sandy Warner of JP Morgan Chase; Sharon Patrick, CEO of Martha Stewart Living Omnimedia; pioneering shareholder activist Ralph Whitworth; Jack Ward, CEO of Russell Manufacturing; Yellow Freight CEO William Zollars; TIAA/CREF's Peter Clapman; Hobson Brown, CEO of Russell Reynolds Associates; Thomas Shull of Hanover Direct; Richard Cavanagh of The Conference Board; Jack Valenti of the Motion Picture Association; historian Paul Kennedy; literary critic Harold Bloom, as well as management professors from Yale, Harvard, INSEAD, Dartmouth, and Wharton, along with eighty other distinguished top leaders.

The conference will conclude with a lunch at noon on Friday, June 27, which will feature an address by The Honorable Elaine Chao entitled "Resilience for Employers" and will be followed by the presentation of the Legend in Leadership Award to Hershey's retired chairman and CEO Kenneth Wolfe. This final event is open to members of the press who register in advance at the number listed below.

A Yale graduate, Kenneth Wolfe joined Hershey in 1967 following an early career at Bankers Trust. For 35 years, Wolfe was an essential member of the executive team at Hershey, and led the company as chairman and CEO from 1994 until his retirement last year. These were many of Hershey's greatest growth years with new products and brand extensions including Reese's Peanut Butter Cups; Good & Plenty; Jolly Rancher; Twizzlers; Ice Breakers; Breath Savers; Fruit Stripe Gum; and Bubble Yum. At the same time, Hershey's reinforcement of the quality and strength of its core chocolates and candy bars has been widely admired. Revered as a great business leader, devoted community leader, and committed corporate citizen, Wolfe serves on such boards as Bausch & Lomb; Carpenter Technology Corporation; Hershey Medical Center; and formerly the Grocery Manufacturers of America; Hershey Trust Co; The Milton Hershey School; the M.S. Hershey Foundation; and the Pennsylvania Chamber of Business and Industry.

Conference organizer Associate Dean Jeffrey Sonnenfeld commented: "This important gathering of prominent institutional leaders across sectors and renowned scholars is well-timed to help discover the new engines for growth in society. The recognition of Ken Wolfe of Hershey allows us to celebrate both a person and an American enterprise that offers an inspirational model of commercial revitalization and community responsibility."

Past winners of this award include: Vanguard founder Jack Bogle; Home Depot Founder Bernard Marcus; former Coca-Cola President Donald Keough; former PepsiCo CEO Roger Enrico; MCI founder Bill McGowan; musician entrepreneur Quincy Jones; Viacom CEO Sumner Redstone; catalogue entrepreneur Lillian Vernon; Dunkin Donuts founder, the late Bill Rosenberg; former J. Walter Thomson CEO Charlotte Beers; Bell South Chairman Emeritus John Clendenin; former Wal-Mart CEO David Glass; Rich Teerlink, former CEO of Harley-Davidson; Gordon Binder, CEO of Amgen; Bill George, former CEO of Medtronic; and Kemmons Wilson, creator of Holiday Inns.

The Chief Executive Leadership Institute, the world's oldest CEO college, is part of the Yale School of Management. It was founded in 1989 to provide original research on leadership and lively current educational forums through peer-driven learning for accomplished leaders across sectors.

For an interview with Jeffrey Sonnenfeld, or to register for the Legend in Leadership Award luncheon, contact Tabitha Wilde, Associate Director of Media Relations at the Yale School of Management, 203-432-6010 (tabitha.wilde@yale.edu) or Bonnie Blake, 203-432-0867 (bonnie.blake@yale.edu). To learn more about the CELI, visit www.ceoleadership.org.