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THE WHITE HOUSE

Office of the Press Secretary


For Immediate Release December 18, 2000

PRESIDENT CLINTON NAMES CHARLES H. COLE AS CHAIR OF THE ADVISORY

COMMITTEE TO THE PENSION BENEFIT GUARANTY CORPORATION

President Clinton today announced his intent to designate Charles H. Cole as Chair of the Advisory Committee to the Pension Benefit Guaranty Corporation (PBGC).

Mr. Charles H. Cole, of Oakton, Virginia, is a retired Mobil Oil Corporation executive, having worked in human resources for for 38 years. From 1979 to 1996, Mr. Cole was Manager of Compensation, Benefits & Policy Development for Mobil's worldwide Exploration & Producing Division. From 1959 to 1979, he held a series of managerial and staff positions in human resources in the United States and abroad. Following his retirement from Mobil in 1996, Mr. Cole has been a full-time volunteer and a dedicated public servant.

A native of Magnolia, Arkansas, Mr. Cole graduated magna cum laude with a B.S. in Business Administration and a M.B.A. from the University of Arkansas.

The Advisory Committee advises the PBGC on its policies and procedures relating to the appointment of trustees in termination proceedings, investment of monies, schedules for the liquidation of terminated pension plans, and other issues that the PBGC may periodically request.

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