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Eric Doppstadt Becomes Chief Investment Officer of Ford Foundation

NEW YORK, 1 June 2009 — Eric W. Doppstadt today became vice president and chief investment officer of the Ford Foundation, the nation's second largest private foundation with an endowment of more than $9 billion. He is succeeding Linda B. Strumpf, who is retiring.

Mr. Doppstadt's appointment was approved by the foundation's board of trustees in January 2009 and was warmly welcomed by Ford Foundation President Luis A. Ubiñas.

"Eric's deep understanding of both the foundation's investment needs and its global mission make him the ideal leader for our endowment in these extraordinary times," Mr. Ubiñas said. "We are immensely fortunate to have Eric's considerable expertise and skill at a time when the economy demands so much of us—both in terms of our grant making and our investment strategy. Eric's performance in managing our private equity, hedge fund and venture capital portfolios over the last decade has been exceptional."

Ms. Strumpf announced in May 2008 that she would retire this year after 28 years of service, including 16 years as the foundation's chief investment officer.

Mr. Doppstadt has been with the Ford Foundation for nearly 20 years, most recently as director of private equity investments. He joined the foundation in 1989 as resident counsel to the investment team, later assuming senior positions managing the foundation's alternative investment portfolio. He has also served on the investment advisory boards of numerous leading private equity and venture capital funds.

"This is an exciting and challenging time to be heading the foundation's investment team," Mr. Doppstadt said. "The Ford Foundation and its grantees have an incredible record working on the frontlines of social change around the world, and the importance of that mission underlies everything I do."

Mr. Doppstadt received his undergraduate degree in social science from the University of Chicago, studied international economics at the Walsh School of Foreign Service at Georgetown University, and received a law degree from NYU School of Law. He also holds the Chartered Financial Analyst designation from the CFA Institute.

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The Ford Foundation is an independent, nonprofit grant-making organization. For more than half a century it has worked with courageous people on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. With headquarters in New York, the foundation has offices in Latin America, Africa, the Middle East, and Asia.