President Biden Authorizes EXIM Board Transition Steps
WASHINGTON - Today, the Export-Import Bank of the United States (EXIM) announced several steps that President Joseph R. Biden, Jr. has authorized to transition the agency's acting Board of Directors leadership in accordance with the Federal Vacancies Reform Act.
First, following Monday's announcement that Judith Pryor has been nominated for First Vice President, President Biden has authorized EXIM's Senior Vice President for Policy Analysis and International Relations James C. Cruse to continue serving as Acting First Vice President and Vice Chair. Mr. Cruse has an esteemed 50-year career at the agency and has served in his current role since January 20, 2021.
Additionally, President Biden has authorized Senior Vice President for Small Business James Burrows to serve as Acting President and Chair of the EXIM Board of Directors. Mr. Burrows has more than 30 years of experience in financial services, with extensive leadership across commercial, retail, and investment banking. He joined EXIM in 2012 and has overseen the Office of Small Business (OSB) since 2013. Under his leadership, OSB has made significant progress in modernizing its small business customer experience through technology enhancements, expanded outreach and education to small and medium-sized enterprises, and increased the staff dedicated to minority and women-owned business program by over 600 percent.
Both actions are effective immediately and enable the agency to maintain the quorum on the Board of Directors in accordance with EXIM's Charter. The term of the third current board member, Spencer Bachus III, remains in effect until January 20, 2023.
The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.