For Immediate Release: Aug. 23, 2007

New BWC Board of Directors Gather for Inaugural Meeting

Columbus, Ohio – The new, 11-member Bureau of Workers’ Compensation (BWC) Board of Directors met for the first time this afternoon. The independent board of directors was sworn-in and immediately focused on ethics training, fiduciary responsibility and the Board’s organizational structure.

The Board was appointed by Governor Ted Strickland last month, with selections based on recommendations from the Workers’ Compensation Nominating Committee. The Board provides broad representation of the customers served by Ohio’s workers’ compensation system. Its core responsibilities include: working with BWC Administrator Marsha Ryan in developing the policy direction of the Agency; the development and enhancement of numerous reporting requirements designed to assure greater openness and accountability; and with Ryan, serve as fiduciaries of the BWC’s assets.

During today’s meeting, Chairman Bill Lhota stated, “The Ohio BWC Board of Directors is comprised of excellent and diverse talent. My goal as chairman is to fulfill every expectation the governor had when appointing me and my colleagues to this board.”

BWC Administrator Ryan added, “This board is a unique entity, designed to capture the best governance principles of the private-sector to help restore trust and confidence in Ohio’s BWC. Together, we have a responsibility to protect Ohio’s invested assets, which make workers’ compensation coverage available to more than 288,000 Ohio employers and provide more than $2 billion a year to our state’s injured workers.”

The BWC Board of Directors represent employees, employee organizations, employers and include investment and securities experts, a certified public accountant, an actuary and a member of the public.

During today’s inaugural meeting, the Board elected James Harris as its vice chairman. Members also nominated, approved and assigned individuals to the three existing committees and created an additional Board Governance Committee. The following board members will serve on the Investment Committee: David Caldwell, Alison Falls, James Harris, Larry Price and Robert C. Smith. Members serving on the Actuarial Committee include: Charles Bryan, James Hummel and Jim Matesich. Members of the Audit Committee include: Phillip Fulton, Kenneth Haffey and Bill Lhota. The first committee meetings will be held tomorrow, Aug. 24, 2007, at 8 a.m. at the William Green Building, located at 30 W. Spring Street in Columbus.

Click here for more information on the new BWC Board of Directors, including upcoming meeting dates and today’s meeting materials. For additional information on the Ohio Bureau of Workers’ Compensation, please visit www.ohiobwc.com.

Contact: Keary McCarthy
mccarthy.keary@bwc.state.oh.us

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BWC Board of Directors

Chairman William Lhota, SI Employers | Charles Bryan, Actuary | David Caldwell, Employee Organizations | Alison Falls, Investment & Securities | Philip Fulton, Employees | Kenneth Haffey, CPA | James Harris, Employee Organizations | James Hummel, Large Employers | Jim Matesich, Small Employers | Larry Price, Public | Robert Smith, Investment & Securities