Hess Corporation (NYSE:HES) today announced that its Board of Directors
will appoint Terrence J. Checki, a Management Committee member at the
Federal Reserve Bank of New York, to the Company’s Board of Directors,
effective May 1, 2014.
Mr. Checki, 68, is stepping down from his post as one of the senior-most
officials at the New York Fed, sitting on its Management Committee and
playing a key role in the Federal Reserve’s efforts to keep markets and
financial institutions functioning during the 2008 financial crisis.
Prior to announcing his intention to retire from the Bank during the
first quarter of 2014, he served as executive vice president and head of
the Emerging Markets and International Affairs Group (EMIA). Mr. Checki
began his career at the New York Fed in late 1967 and was first named an
executive vice president in 1995. During his tenure, he held positions
in corporate, financial supervision and international affairs areas as
well as in the Office of the President.
Mark Williams, Non-Executive Chairman, said, “Terry has decades of
experience navigating complex domestic and international financial
issues for one of the world’s most important financial institutions. His
insights into the many factors influencing domestic economic
development, as well as those affecting many of the international
markets in which we operate, add a unique and important perspective to
our Board. We look forward to his contributions as Hess advances a plan
that the Board believes will continue to deliver strong, sustainable
returns to shareholders.”
Mr. Checki said, “I am honored to have the opportunity to join the world
class Hess Board. I look forward to working together with the Board and
management as the Company continues to successfully execute on its
strategy to drive growth and increase shareholder value.”
Mr. Checki will replace John Krenicki Jr., who intends to resign from
the Board effective May 1, 2014 due to other professional commitments as
a Partner of Clayton, Dubilier & Rice, LLC.
Mr. Krenicki said, “Hess has had a remarkable year since I joined its
Board and I am proud to have played a role in its success. I enjoyed my
time working alongside this outstanding group of directors, whom I wish
well. I have been, and remain, fully supportive of Hess’ strategic plan
and I am confident that the Company will continue to build on its strong
momentum in 2014 and in future years.”
Mr. Williams concluded, “John has been an invaluable Board member over
the past year, and on behalf of the Company and the entire Board, I want
to thank him for his service. We wish him all the best for the future.”
Hess Corporation is a leading global independent energy company engaged
in the exploration and production of crude oil and natural gas. More
information on Hess Corporation is available at http://www.hess.com.
Copyright Business Wire 2014