Press Release Archives - #571-96 John Chalsty Chairperson City Economic Development Corp.

Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: November 6, 1996

Release #571-96

Contact: Colleen Roche (212) 788-2958 or Deirdra L. Picou (212) 788-2958

MAYOR GIULIANI APPOINTS JOHN CHALSTY AS CHAIRPERSON OF THE CITY ECONOMIC DEVELOPMENT CORPORATION

Mayor Rudolph W. Giuliani announced that he has appointed John Steele Chalsty as a member and Chairperson of the New York City Economic Development Corporation.

"It is with great pleasure that I appoint John as Chairperson the City's Economic Development Corporation," said Mayor Giuliani. "His history of exemplary public service and commitment to New York City make him an excellent choice for the position. John understands the importance of protecting and enhancing the City's job and revenue base -- and he brings a great amount of commercial and industrial business experience to the post."

Mr. Chalsty is Chairman and Chief Executive Officer of the investment banking firm Donaldson, Lufkin & Jenrette, Inc. (DLJ). He had previuosly served as DLJ President and CEO since September 4, 1986. For twelve years prior to joining DLJ, Mr. Chalsty worked for Standard Oil of New Jersey (Exxon) in the United States and Europe. Among the positions he held there were: economic analyst; refinery engineer; Secretary, Board Investment Advisory Committee; Deputy General Manager of Standard Oil's marketing, transportation and distribution of natural gas throughout Europe; and Assistant General Manager of the company's worldwide supply and transportation operations.

Currently, Mr. Chalsty is a member of the Board of Directors of The Equitable Companies Incorporated, SDW Holdings Corporation and IBP, Inc. From 1990 to 1994, he served as Vice Chairman of the New York Stock Exchange. Mr. Chalsty was Director of the New York Stock Exchange from 1988 to 1994.

Mr. Chalsty is also a member, past President and Director of the New York Society of Analysts; a member and past Director of the Financial Analysts Federation; a member of the Board of Trustees of Columbia university, and a member of the Board of Overseers of the Executive Council on Foreign Diplomacy. In 1995, Mr. Chalsty was Chairman of the New York Host Committee for the 50th Anniversary of the United Nations.

In addition , Mr. Chalsty is a Director and Chairman of the Finance Committee of the Teagle Foundation, Inc.; a member of the Board of Directors and Chairman of the Executive Committee of Lincoln Center Theater; a member of the board of governors of the Hugh O'Brian Youth Foundation; and a member of the Board of Trustees of the Saint Barnabas Medical Center. Mr. Chalsty is Vice Chairman of the Business Committee of the Metropolitan Museum of Art.

Born in Port Elizabeth, South Africa in 1933, Mr. Chalsty became a naturalized U.S. citizen in 1964. He graduated from the University of Witwatersrand in Johannesburg where he earned a BS degree in Chemistry and Physics in 1952; a BSc degree with Honors in Chemistry in 1953; and a MSc degree in 1954. In 1957 he received an MBA with high distinction form the Harvard Business School where he was a Baker Scholar.

Mr. Chalsty's appointment is effective immediately. He fills a vacany with a term that commenced on October 16, 1996 and will expire in one year. The EDC Board is composed of a Chair and 32 other members appointed by the Mayor of New York City.