Ralph V. Whitworth
Mr. Whitworth is a Founder, Principal, and Investment Committee member of Relational Investors LLC ("Relational"), an investment fund specializing in strategic block investments.

Mr. Whitworth has served on the boards of nine public companies: Apria Healthcare Group Inc., Mattel, Inc., Sirius Satellite Radio, Inc., Tektronix, Inc., Waste Management, Inc., Sprint Nextel Corporation, Wilshire Technologies, Inc., United Thermal Corporation, and Sovereign Bancorp, Inc. During his tenure five of these companies were in the Fortune 500. Mr. Whitworth has chaired numerous committees and led searches for directors and executive officers. He served as Chairman of the board of Apria and Waste Management.

Mr. Whitworth is considered an expert on corporate governance. He has been invited to present his views on corporate governance and shareholder rights matters before the United States Senate and House of Representatives, the U.S. Securities and Exchange Commission, the New York Stock Exchange Board, and the New York Federal Reserve. He served on five national Blue Ribbon Commissions sponsored by the National Association of Corporate Directors regarding director compensation and corporate governance. He also served on a Joint Task Force assembled by the Council of Institutional Investors and the National Association of Corporate Directors to review and make recommendations for improving board-shareholder communications.

During 2007 and 2008, two of the most challenging years in U.S. banking history, Mr. Whitworth served as Chairman of Sovereign Bancorp’s (the nation’s largest savings and loan company) Credit and Risk Committee and its Capital Committee.

During 1999 Mr. Whitworth’s service as Chairman of Waste Management was as a major crisis management assignment in the midst of an accounting scandal, the breadth and magnitude of which were unprecedented. He was responsible for overall management of the company. He also led a 2,000 person strong, bottom-up audit of the company’s financial statements and led the recruitment effort to replace the company’s management team. During Mr. Whitworth’s tenure as a board member of Waste Management (1998 to 2004), BusinessWeek recognized Waste Management as one of the five “Most Improved Boards” in 2002.

From 1998 to 2005, Mr. Whitworth played a similar role at Apria Healthcare Group (the world’s largest home healthcare provider). During his tenure as Chairman of Apria (1998 to 2005), Apria’s board was twice named by BusinessWeek (2000 and 2002) as one of the ten “Best Boards in America.” Mr. Whitworth received prominent recognition when Institutional Shareholder Services selected Apria as the “Best Governed Company in North America” in 2000. Also, during his tenure Apria’s board was recognized in The Corporate Governance Advisor article (September 1998) titled, “Apria’s Designer Board May Be Model for Next Millennium.” Mr. Whitworth was named “Director of the Year” by the Corporate Directors Forum in 2004 for his work at Apria.

From 1986 to 1994, Mr. Whitworth was the President of United Shareholders Association (pro bono). In 1990 he authored the petition for rulemaking which in 1992 culminated in a major overhaul of the U.S. Securities and Exchange Commission's shareholder communication and compensation disclosure rules.

From 1989 to 1992, Mr. Whitworth served as President of Development at United Thermal Corporation, which at that time was the largest operator of district heating and cooling systems in the nation. Mr. Whitworth served on the company's board of directors until December 1993 when he chaired the board's special committee representing minority shareholders during a sale transaction.

From 1985 to 1988, Mr. Whitworth served as Assistant to the General Partner at Mesa Limited Partnership. During that time Mesa was the nation's largest independent oil and gas company. He managed the executive staff, served on the company's operating committee, and participated in the company's investments, acquisitions, and financing activities.

From 1981 to 1984, Mr. Whitworth served on the U.S. Senate Judiciary Committee staff of Senator Paul Laxalt.

Mr. Whitworth holds a juris doctor degree from Georgetown University Law Center.

David H. Batchelder
Mr. Batchelder is a Founder, Principal, and member of Relational Investors’ Investment Committee. He has over 25 years of financial management, mergers, and acquisitions experience. Mr. Batchelder has served as chairman of one public company, Mac Frugal’s Bargains•Close-Outs Inc., and as a director of ten others: Allwaste, Inc., Apria Healthcare Group Inc., ConAgra Foods, Inc., Intuit Inc., The Home Depot, Inc., ICN Pharmaceuticals, Inc., Mesa, Inc., Nuevo Energy Company, Santa Fe Pacific Gold Corporation, and Washington Group International, Inc. Five of these public companies were in the Fortune 500 during his service. He remains a director of The Home Depot, Inc. and Intuit Inc.

Mr. Batchelder’s experience as a board member of several public and private companies provided him a direct insight into corporate management and board dynamics. His perspective proves extremely valuable to Relational’s strategy of assisting portfolio companies' managements improve performance and unlock value.

From 1988 to 2005, Mr. Batchelder was also a Principal of Relational Advisors LLC, a financial advisory and investment banking firm, which he founded. He built the firm into a nationally recognized source of expertise for mergers, acquisitions, private financings, and shareholder matters.

Prior to founding Relational Advisors and Relational Investors, Mr. Batchelder held various executive positions with Mesa Petroleum Co. from 1978 to 1988, and in 1986 he was named President and Chief Operating Officer. He also served on Mesa’s board of directors from 1984 to 1987. During his affiliation with Mesa, Mr. Batchelder led the team responsible for Mesa’s investments, acquisitions, and financing activities. Prior to his affiliation with Mesa Petroleum Co., Mr. Batchelder was an Audit Manager with Deloitte & Touche LLP.

A 1971 graduate of Oklahoma State University, Mr. Batchelder holds a bachelor’s degree in accounting.

John A. Sullivan
Mr. Sullivan is a Principal and Senior Managing Director of Investments for Relational. He is also a member of the Investment Committee. Since joining the Firm in 1998, he has been integrally involved in Relational Investors’ Investment Committee’s decision process, communications with portfolio companies, and strategy development and implementation for each portfolio company. Prior to joining Relational Investors he was an investment banker for 12 years, most recently as an Associate at Relational Advisors, preceded by experience as a Senior Vice President at The Seidler Companies Inc., and served as an Associate at Kidder, Peabody & Co., Inc. He was a generalist across a broad range of industries and originated and executed numerous transactions including IPOs, secondary offerings, restructurings, mergers, acquisitions, and refinancings totaling over $2 billion.

Mr. Sullivan served on the board of directors of the FARR Company and American Coin Merchandising, Inc. He was appointed chairman of American Coin to lead the company in a crisis and turnaround situation culminating in a successful sale of the company.

Mr. Sullivan holds a master’s degree in management from the Massachusetts Institute of Technology and a bachelor’s degree in engineering from Loyola Marymount University.

Todd L. Leigh, CFA, CPA
Mr. Leigh joined Relational in July 2008 as a Principal and Managing Director of Research.  He is involved with Relational’s Investment Committee and co-leads the research team focusing on the Technology, Media, Telecommunications, and Energy sectors. Mr. Leigh is involved in all aspects of Relational’s research process and is active with the development and implementation of the engagement process with portfolio companies.

Prior to joining Relational, Mr. Leigh was with Credit Suisse for six years where he was responsible for the Buy-Side Insights Group’s efforts in the Technology, Media, and Telecommunication sectors.  Mr. Leigh was with HOLT Value Associates as a European Sales Director from 1996 until it was acquired in January 2002 by Credit Suisse.  While at HOLT Value Associates, he developed the European product and led the sales effort in several European markets. Mr. Leigh started his career as an accountant with PriceWaterhouse LLP. 

Mr. Leigh earned a bachelor’s degree in commerce from the University of Virginia.  He is a Certified Public Accountant and holds the professional designation of Chartered Financial Analyst.

Richard H. Moore
Mr. Moore joined Relational as a Managing Director in April 2009. He is involved in strategic planning, developing growth initiatives for the firm, and works with the Investment Committee on select engagements.

Prior to joining Relational, Mr. Moore served two terms as State Treasurer of North Carolina. He was the sole fiduciary, serving as the state’s banker and Chief Investment Officer and administering all of the state’s public pension plans. As Treasurer, Mr. Moore grew assets from $60 billion to $90 billion, and the pension fund was rated either the first or second best funded public system in the country over the last five years. He also oversaw the largest 401(k) public plan in the country with approximately $5 billion in assets. Mr. Moore was responsible for issuing billions of dollars in public debt while maintaining the state’s AAA rating status.

Mr. Moore has been a leader in the national movement to protect shareholder rights. In the wake of Enron and other Wall Street scandals, Mr. Moore authored investment and mutual fund protection principles that have been adopted by pension fund managers across the country to clean up business practices. As part of his efforts to promote corporate responsibility, Mr. Moore served two terms as the only elected official on the executive board of the New York Stock Exchange and now serves on the NYSE Regulation board. In 2004, Mr. Moore was honored as a Top Public Official of the Year by Governing Magazine for his national leadership on corporate accountability and guidance of the state’s pension fund.

For his expertise on corporate governance issues as well as investment management, Mr. Moore has been profiled in US News & World Report and regularly quoted in The New York Times and The Wall Street Journal. He has co-hosted CNBC’s popular morning show, Squawk Box, numerous times and has appeared on the evening news programs of all the major networks.

Mr. Moore is an honors graduate of Wake Forest University and its School of Law, and also holds a graduate degree in accounting and finance from the London School of Economics.

Glenn W. Welling
Mr. Welling joined Relational in July 2008 as a Principal and Managing Director of Research.  He is involved with Relational’s Investment Committee and leads the research team focusing on the Consumer, Healthcare, and Utilities sectors. Mr. Welling is involved in all aspects of Relational’s research process and is active in the development and implementation of the engagement process with portfolio companies.

Prior to joining Relational, Mr. Welling was with Credit Suisse for six years where he was a Managing Director and Global Group Head of the Investment Banking department’s advisory businesses. While at Credit Suisse, he built the Buy-Side Insights Group into one of the leading commercially-focused advisory businesses on Wall Street.  Prior to Credit Suisse, Mr. Welling was with HOLT Value Associates where he was a Partner and Managing Director from 1999 until it was acquired by Credit Suisse in 2002.  Before joining HOLT, Mr. Welling was the Managing Director of Valuad U.S. where he worked with senior management teams of large corporations to help them improve their organization’s decision-making capabilities.  Prior to leading Valuad U.S., he was a founding member of A.T. Kearney’s Asia strategy practice and leader of the Strategic Services Group in North America.  Mr. Welling started his career as a consultant with Marakon Associates, a strategic consulting firm.  

Mr. Welling earned a bachelor’s degree in economics from The Wharton School of the University of Pennsylvania.  He teaches executive education courses at The Wharton School of Business and The California Institute of Technology in Performance Measurement and Managing for Value.

H. Jay Winship, CFA, CPA
Mr. Winship is a Principal and Managing Director of Research for Relational. He is actively involved with Relational’s Investment Committee, including developing and executing Relational’s investment strategies. Mr. Winship leads the research team focusing on the Financials, Industrials, and Materials sectors. He participates in all aspects of Relational’s research process and is active in development and implementation of the engagement process with portfolio companies.

Mr. Winship joined Relational in early 2002. He was previously with Relational Advisors, where he was a Partner with broad responsibilities for mergers, acquisitions, and financings for a large number of public and private companies. Prior to becoming a Partner in Relational Advisors in 1999, he was an Associate and among other duties, provided research and analytical services to Relational Investors from 1996 to 1998. Prior to 1996, Mr. Winship was with Arthur Andersen LLP in Phoenix, Arizona where his expertise was focused on transaction-related engagements and equity offerings for public companies. Mr. Winship formerly served on the boards of Del Mar Database, Seaspan Containers Lines, Ltd., Seaspan Ship Management, Ltd., McKay Creek Technologies, Ltd, and Excel National Bank. 

A Magna Cum Laude graduate from the University of Arizona, Mr. Winship holds a bachelor's degree in finance and a master’s in business administration from the University of California, Los Angeles. He is a Certified Public Accountant and holds the professional designation of Chartered Financial Analyst.

Frank P. Hurst
Mr. Hurst joined Relational Investors in October 2007 as a Principal and Senior Managing Director responsible for Client Services, Marketing, and Strategic Planning. Over his 33 year business career he has spent the last 26 years in various executive, marketing, product development and administrative positions in the investment management industry.

Prior to Relational, he was President of Berkeley Capital Management LLC, a $5 billion multiple equity strategy investment manager responsible for marketing, product development and corporate acquisitions.

Mr. Hurst spent 15 years with Duncan-Hurst Capital Management as Co-Founder, President, Director of Marketing and Client Services and Chief Administrative Officer. During his tenure with Duncan-Hurst he was instrumental in growing the firm from a start-up single equity product firm to a multiple equity products firm with over $7 billion of domestic and international equity assets under management. Duncan-Hurst’s clients included public, corporate and Taft-Hartley retirement plans, endowments and foundations, family offices, onshore and offshore partnerships, sub-advisory relationships with insurance companies, mutual funds and investment banks, and high net worth individuals.

Additional experience includes senior sales and marketing positions with Scudder, Stevens and Clark, a global asset manager and Pacific Century Advisors, an investment management subsidiary of Security Pacific Corporation.

Mr. Hurst is a graduate of San Diego State University with a bachelor’s degree in economics.

David E. Demarest
Mr. Demarest is the Chief Administrative Officer for Relational Investors LLC. He has over 25 years of experience in the investment and financial services industry, most recently as the Executive Vice President, Operations and Chief Financial Officer for Freeman Associates Asset Management. He was responsible for finance, accounting, tax reporting, sales, human resources, operations, legal, and compliance, as well as being a member of the investment committee.

Prior to joining Freeman, Mr. Demarest was Senior Vice President and Chief Financial Officer at mPower.com, a start-up investment adviser which used proprietary software to provide individualized financial planning and investment advice over the internet. He was responsible for creating, staffing, and managing finance, legal, regulatory, and human resources functions. He was instrumental in raising $60 million in private financing to fund company operations. Additionally, Mr. Demarest gained valuable experience while serving in executive financial positions at Montgomery Asset Management, The Copeland Companies, Wells Fargo Bank and Peat Marwick Mitchell & Co.

A Magna Cum Laude graduate from Bradley University, Mr. Demarest holds a bachelor’s degree in accounting and a master's degree in business administration from New York University.