FOR IMMEDIATE RELEASE
Contact: Lucas Held
Director of Communications
The Wallace Foundation
KEVIN W. KENNEDY NAMED CHAIR OF THE WALLACE FOUNDATION
NEW YORK, N.Y. August 24, 2007 – Kevin W. Kennedy, a managing director of Goldman Sachs, has been named chairman of the board of The Wallace Foundation, a national foundation based in New York City dedicated to supporting and sharing effective ideas and practices that expand learning and enrichment opportunities for all people.
Kennedy succeeds Walter V. Shipley, former chairman of Chase Manhattan Corp., who served on the Board from 1991 to 2007, and was chair since June 2002.
Kennedy joined The Wallace Foundation’s board of directors in 2004 and was elected chairman in June 2007. He is a managing director of Goldman Sachs, where he heads the human capital management division. He is also a member of the management committee and serves as co-chairman of the commitments committee and the partnership committee.
“I am honored to succeed Walter V. Shipley as chair of The Wallace Foundation,” said Kennedy. “Wallace has established a growing reputation as a source of innovative, useful ideas in the areas we work, and we are poised to do even more with our partners to contribute effective solutions to important problems in the areas we work.”
M. Christine DeVita, Wallace’s president, praised Kennedy, noting: “At a time when foundations are being asked to be accountable and transparent about their results, Kevin’s commitment to these ideals, and his expertise in how to achieve them, will be of enormous value to the foundation.”
Kennedy joined Goldman Sachs in 1974, served as head of corporate finance from 1988 until 1994 and then became head of the Americas group in the investment banking division. In 2001, he was appointed to head the firm’s newly formed human capital management division. He was named partner in 1984 and managing director in 1996.
Kennedy is a life trustee of Hamilton College and a former chairman of its board of directors. He is a managing director and secretary/treasurer of the board of the Metropolitan Opera, a trustee of the New York Public Library, and an honorary trustee of the Chewonki Foundation.
He earned an M.B.A. from Harvard University in 1974 and a B.A. in art from Hamilton College in 1970. He also served in the U.S. Army National Guard. Kennedy resides in New York with his wife, Karen, a pediatrician. They have two grown children, Coleman and Will.
The Wallace Foundation
The Wallace Foundation is an independent, national foundation dedicated to supporting and sharing effective ideas and practices that expand learning and enrichment opportunities for all people. Its three current objectives are: strengthening education leadership to improve student achievement; enhancing out-of-school learning opportunities; and expanding participation in arts and culture. The foundation maintains a Knowledge Center of free publications on what it has learned at www.wallacefoundation.org.