FOR IMMEDIATE RELEASE May 9, 2019
Linda Formella (202-565-3204)
Washington, D.C. – Today Kimberly A. Reed, a native of West Virginia, was sworn in as president and chairman of the board of directors of the Export-Import Bank of the United States (EXIM). The swearing-in ceremony took place at EXIM headquarters in Washington, D.C. Ms. Reed was sworn in by Joyce Stone, EXIM assistant corporate secretary. Ambassador Jeffrey D. Gerrish, formerly EXIM’s president and chairman (acting), held the Bible.
EXIM Chairman Reed was confirmed to EXIM’s top post by the U.S. Senate on May 8, 2019, by an overwhelming majority of votes.
“I am incredibly grateful to President Trump for this opportunity to execute his agenda by growing jobs and helping U.S. businesses prosper. I am committed to ensuring that American workers can compete on a fair playing field in international trade. It is a tremendous honor to be appointed by President Trump and confirmed by the U.S. Senate to lead this distinguished mission,” said Chairman Reed.
She added, “I believe that freedom, in the form of free-market principles, is the best way to foster economic opportunity for all Americans. As we work together to reopen EXIM, I am dedicated to implementing positive reforms in advance of congressional reauthorization. This will allow us to achieve great results for U.S. workers, exporters, and the American taxpayer.”
Chairman Reed will participate in a ceremonial swearing-in at a date to be determined.
In addition to Chairman Reed, two other EXIM board members, Spencer Bachus III and Judith DelZoppo Pryor, were confirmed on May 8 and will be sworn in at a later date. The three confirmed appointments restore the quorum on EXIM’s board of directors, returning the bank to full functionality, which includes the capacity to authorize financing for transactions of more than $10 million.
Senate action is pending on two additional individuals who have been nominated by President Trump to serve on the EXIM board: Paul Shmotolokha (nominated as EXIM first vice president) and Claudia Slacik (nominated as a board member).
ABOUT CHAIRMAN KIMBERLY REED:
Kimberly A. Reed is president and chairman of EXIM’s board of directors. She is a senior executive with a 23-year career that crosses a variety of sectors, leading efforts focused on job creation, trade, economic development, and government reform.
Reed most recently served as president of the International Food Information Council (IFIC) Foundation where she collaborated with the U.S. Departments of Agriculture and State to increase the acceptance of U.S. exports in emerging market countries. At the U.S. Department of Treasury, Reed headed the Community Development Financial Institutions Fund and also served as senior advisor to Treasury Secretaries John Snow and Henry Paulson. Reed focused on oversight and reform of federal agencies as counsel to three committees in the U.S. House of Representatives: Ways and Means, Government Reform and Oversight, and Education and Workforce Committees.
Originally from Buckhannon, West Virginia, Reed holds a J.D. from West Virginia University College of Law and a B.S. from West Virginia Wesleyan College.
ABOUT EXIM BANK:
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, 90 percent of the total number of the bank’s authorizations has directly supported small businesses. Since 2000, EXIM has sent $14.8 billion to the U.S. Treasury after paying for all of its administrative and program expenses.