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RAY MABUS SIGNIFICANT POSITIONS Governor of Mississippi United States Ambassador to the Kingdom of Saudi Arabia Chairman, President and Chief Executive Officer of Foamex International GOVERNMENT United States Ambassador to the Kingdom of Saudi Arabia (1994 –1996) Managed one of the largest Embassies of the United States. Recognized by State Department as one of best managed Embassies in the world. Responded to terrorist attack on US Military installation. Awarded Department of Defense Distinguished Public Service Award and Department of the Army Distinguished Civilian Service Award for actions. These two awards are the highest for civilians that the Department of Defense and the Army give. Close working relationship with President, White House, Department of State, Department of Defense, Department of Commerce, several other government departments and agencies. Reduced Embassy budget and personnel without reducing mission or service. Served as forceful advocate for sale of American goods and services; more than $16 billion in contracts signed during tenure. Helped American businesses collect several hundred million dollars in past due accounts. Crisis with Iraq successfully deterred by working in close cooperation with United States Central Command and with United States military forces in Kingdom and at sea. Successfully urged Kingdom of Saudi Arabia to abandon secondary and tertiary boycott of American firms doing business with Israel. Engaged Saudi Government in all aspects of the peace process. Worked to reunite children of American mothers who had been kidnapped by Saudi fathers. (Wall Street Journal editorials concerning this and my role and United States House of Representatives hearings on this situation following my tenure). Governor, State of Mississippi (1988-1992) $5 billion plus state budget always balanced and no tax increases during term 28,000 state employees (not including educational employees) Selected Legislative Achievements Largest teacher pay raise in United States and largest percentage increase for higher education in United States One of the most comprehensive educational reform acts in United States--Mississippi’s B.E.S.T. (Better Education for Success Tomorrow) Complete rewrite of economic development laws First Governor to propose state budget and enacted first capital budget in State’s history Changed form of county government to reduce cost and corruption and passed largest restructuring of state government in Mississippi history Selected State Achievements Employment and Economic Development 90,000 net new jobs in four years First in new plants per million population and 4th in plant expansion per million population with $4 billion in new investments 5th largest drop in unemployment, 11th fastest per capita income gain in United States, 25th in nation in creation of new jobs and unemployment rate lowest in more than a decade Led five trade missions and established foreign offices in Japan, China, Taiwan, Korea, and Germany State became one of largest traders with Israel by concluding $300 Million contract to build ships for Israeli Navy Tourism increased 41% and exports increased 51% while growth in welfare cut 87% Education High school graduation rate increased by 5.7% while in national rate declined Developed Office for Literacy which Atlantic Monthly called “the most ambitious initiative in the nation to combat adult illiteracy” More financial resources for higher education: 21st in the nation (Mississippi is the poorest state in the nation) Initiated program of putting computer labs in every elementary school in the state Development of Mississippi 2000, using fiber optics to provide students the opportunity to participate in courses through interactive audiovisual communications Nation’s lead state in percentage of students taking upper level science classes Established parental involvement program in schools and school-to-work transition program Health Largest expansion of health care coverage and lowest infant mortality in State’s history Law Enforcement More drugs seized and more DUI arrests than ever in history of State Initiated Governor’s Youth Brigade, an anti-drug program Created State’s first full-time parole board Established Mississippi Prison Industries Program Environment Led the drive to save diminishing wetlands and decrease flooding in the Mississippi Delta Most comprehensive hazardous waste package in the nation Selected Positions and Accomplishments Youngest Governor in Mississippi in 150 years and youngest Governor in United States when elected President of Council of State Governments Chair: Southern Governors’ Association; Democratic Governors’ Association; Southern Regional Education Board; Southern Growth Policies Board; National Governors’ Association Economic Development and Technological Innovation Committee and NGA Foreign Market Task Force National Governors’ Association Executive Committee Negotiating team for Governors; President’s Education Summit Vice Chair of Lower Mississippi Delta Commission (then-Governor Bill Clinton was Chair) State Auditor of Mississippi (elected) Sued for and/or recovered $5 million with 32 people indicted or convicted Participated with FBI in very large sting operation “Operation Pretense” on official corruption. 57 indictments with 56 convictions or guilty pleas First ever Comprehensive Annual Financial Report for the State and Certificate of Achievement from Governmental Fiscal Officers Association POLITICAL Senior Advisor, Presidential Campaign of Senator Barack Obama (since April 2007) PRIVATE SECTOR Chairman, President and Chief Executive Officer of Foamex International 2006-2007 Foamex is the leading manufacturer of foam and foam products in North America. It has approximately $1.3 billion in yearly sales, approximately 4,000 employees and 40 facilities in North America and Asia. Foamex filed for Chapter 11 bankruptcy protection in late 2005 as a result of being overleveraged and suffering some business reversals. Chosen CEO in 2006 to lead Foamex out of bankruptcy. During my tenure as CEO Foamex: o Emerged from bankruptcy o Paid all creditors of every class 100 cents on the dollar, plus interest o Kept equity intact o Raised an additional $150 million in new equity through a rights offering o Significantly de-leveraged and emerged from bankruptcy with a far stronger balance sheet o Stock went from trading in the 1-3 cent range in early 2006 with 26 million shares outstanding to trading in the $4.75-$5.15 range in the first quarter of 2007 with 92 million shares outstanding o Market capitalization went from less than $1 million to over $400 million o EBITDA increased from approximately $85 million in 2005 to approximately $150 million in 2006 o Devised a business plan which provides for much higher capital expenditures and rapid pay down of debt o While CEO of Foamex, commuted from home in Jackson, Mississippi to Foamex headquarters in Linwood, Pennsylvania. When Foamex emerged very successfully from bankruptcy, resigned and returned to Mississippi. Chairman of Board, Foamex International 2004-2006 Board Member, Foamex International 2000-2004 Chair of Audit Committee Board Memberships Present: Enersys, Incorporated (Public, NYSE) 2007-present World’s largest producer of industrial batteries. Approximately $2 billion in sales. Audit Committee, Nominating and Governance Committee Hines Horticulture (Public, OTC) 2007-present Large producer of plants for customers such as Wal-mart, Lowe’s and Home Depot Audit, Governance and Compensation Committees. Governance Chair. Fusion Incorporated (Public, AMEX)) 1999-present Voice-over-internet protocol telecommunications company Compensation Committee Past member, Audit Committee Previous: Kroll Incorporated (public)1996-2005 Corporate restructuring, due diligence, forensic accounting company Audit Committee Chair Governance and Compensation Committees Board membership ended when Kroll sold to Marsh McLennan Several boards of private companies (present and previous) President and Chairman of Executive Committee, Frontline Global Resources (1998-2002) Consulting firm which helps Fortune 500 companies with human resource issues Of Counsel: Baker, Donelson, Bearman and Caldwell (1996- 2003) Consulting: Kissinger-McLarty (through 2001) Sikorsky, Incorporated (through 2002) Raytheon, Incorporated (through 2000) OTHER ACTIVITIES Owner, Family timber Business Distinguished Lecturer on the Middle East, University of Mississippi Selected Awards Jackson, Mississippi Clarion Ledger, Best Governor of the 20th Century Reader Poll Award Martin Luther King, Jr., Social Responsibility Award by the King Center in Atlanta, Georgia. National Wildlife Federation’s Conservation Achievement Award Mississippi Association of Educators’ “Friend of Education” Award Department of Defense Distinguished Public Service Award Department of the Army Distinguished Civilian Service Award King Abdul Aziz Award, Kingdom of Saudi Arabia International Security Leadership Award Fortune Magazine “Top Ten Education Governors” Selected Non-Profit Boards RAND Corporation Middle East Public Policy St. Andrew’s Episcopal School Piney Woods School B.B. King Foundation America-Mideast Educational and Training Services (Treasurer) Center for a Better South Advisory Board Help and Hope Foundation (to aid children affected by Hurricane Katrina) Founder Child Care Action Committee Planning Committee Member (Previous) The Children’s Health Fund Advisory Board (Previous) Jane Goodall Foundation Board (Previous) The Washington Institute Energy Task Force (Previous) Selected Other Cover story, New York Times Magazine Front page story, Wall Street Journal on time as State Auditor Appearances on various television programs, including “60 Minutes” and “Nightline,” as an expert on the Middle East Traveled to over 100 countries on six continents Participated at senior level in five Presidential campaigns EDUCATION Harvard Law School, J.D., Magna Cum Laude, 1976 The Johns Hopkins University, M.A., Political Science, 1970, Woodrow Wilson Fellow University of Mississippi, B.A., English and Political Science, 1969, Summa Cum Laude Public School, Ackerman, Mississippi MILITARY United States Navy, Lt.(jg), on board USS Little Rock, Guided Missile Cruiser, 1970-1972 PERSONAL Born in 1948 in Ackerman, Mississippi, Fourth Generation Mississippian Wife Lynne; daughters, Elisabeth, born 1990, Anne, born 1992, and Kate, born 2001 Member, Galloway United Methodist Church