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For immediate release: December 2, 2010

Herb Kelleher and Myron E. Ullman III to Lead Dallas Fed Board

DALLAS—The Federal Reserve Board of Governors has appointed Herb Kelleher as chairman and Myron E. (Mike) Ullman III as deputy chairman of the Federal Reserve Bank of Dallas board of directors for 2011.

Kelleher is cofounder and executive chairman emeritus of Southwest Airlines, serving as president and CEO from 1981 to 2001. He retired as executive chairman in 2008.

He was appointed to the Dallas board in 2007 and served as deputy chairman from 2009–10.

Kelleher has served on the boards of several civic and professional organizations and has received numerous awards, including the Wright Brothers Memorial Trophy, Inc. magazine’s U.S. Master Entrepreneur and the Bower Award for Business Leadership from the Franklin Institute.

Ullman is chairman and CEO of J.C. Penney Company, Inc., headquartered in Plano, Texas.

He was appointed to the Dallas board in 2008.

Before joining J.C. Penney, Ullman served as directeur général, group managing director of LVMH Moët Hennessy Louis Vuitton from 1999 to 2002. He previously served as group chairman and CEO of DFS Group Limited (1995–99) and as chairman and CEO of R.H. Macy & Co. Inc. (1992–95).

Ullman serves on the boards of Starbucks Coffee Company, the Retail Industry Leaders Association and FIRST, a charity that sponsors robotics competitions designed to motivate youth to pursue education and careers in science and technology. 

He also is chairman of the board of Mercy Ships International, a global medical and human services charity.

Each Federal Reserve Bank has a nine-member board of directors. Three members represent commercial banks, three represent the public and three are appointed by the Federal Reserve Board of Governors. Of the three latter appointees, one is designated chairman and another deputy chairman.


Media contact:
James Hoard
Phone: (214) 922-5307