Leadership
PBGC is headed by a Director, who reports to a board of directors consisting of the Secretaries of Labor, Commerce and Treasury, with the Secretary of Labor as chairman.
Under the Pension Protection Act of 2006, the Director of the PBGC is appointed by the President and confirmed by the Senate. Under prior law, PBGC's Board Chairman appointed an "Executive Director" who was not subject to confirmation.
Charles E. F. Millard became the first Senate-confirmed Director on December 14, 2007. Prior to coming to PBGC, Millard was managing director at Broadway Partners, LLC. He previously held leadership positions at Lehman Brothers, the New York City Economic Development Corporation, and Prudential Securities. In addition, Millard served two terms on the New York City Council.
Joshua Gotbaum was appointed as the current Director on July 2, 2010 through a recess appointment. Gotbaum served in both the Carter and Clinton administrations in a variety of financial service positions and led the bankruptcy reorganization of Hawaiian Airlines.
Read more about this topic: Pension Benefit Guaranty Corporation
Famous quotes containing the word leadership:
“During the first World War women in the United States had a chance to try their capacities in wider fields of executive leadership in industry. Must we always wait for war to give us opportunity? And must the pendulum always swing back in the busy world of work and workers during times of peace?”
—Mary Barnett Gilson (1877–?)
“Nature, we are starting to realize, is every bit as important as nurture. Genetic influences, brain chemistry, and neurological development contribute strongly to who we are as children and what we become as adults. For example, tendencies to excessive worrying or timidity, leadership qualities, risk taking, obedience to authority, all appear to have a constitutional aspect.”
—Stanley Turecki (20th century)
“A woman who occupies the same realm of thought with man, who can explore with him the depths of science, comprehend the steps of progress through the long past and prophesy those of the momentous future, must ever be surprised and aggravated with his assumptions of leadership and superiority, a superiority she never concedes, an authority she utterly repudiates.”
—Elizabeth Cady Stanton (1815–1902)