EUGENE F. McCORMICK

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As a founding partner of the McCormick Jahncke Group, Mr. McCormick leads a team which provides international transportation expertise, utilizing the breadth of experience and worldwide network to generate practical solutions for the group's clients. Specialties include financing, operations, technology, business development and communications. Clients include railroads, ship owners and operators, multinational shippers, unions, shipbuilders, financial institutions, and port, terminal and stevedoring operators.

As President and Chief Operating Officer of America's third largest shipping company, he developed and implemented business plans that resulted in business growth of 300%. His innovative approach of developing long term strategic partnerships with customers, suppliers, stevedores, terminal operators, labor, and competitors resulted in maximized asset utilization, improved customer service, and reduced cost, as the fleet of 44 multipurpose vessels successfully transitioned to a modern, customer responsive fleet of container ships.

As Chief Financial Officer, Mr. McCormick was responsible for integrating the company's financial division with the new $8.0 billion parent. Mr. McCormick subsequently developed and implemented the business plan for repurchase and privatization of the company, securing LBO financing which was repaid from operating profits ahead of schedule. As CFO, Mr. McCormick negotiated over $2.0 billion in financing transactions with financial institutions worldwide.

During his career in the transportation industry, Mr. McCormick held various other management positions in pricing, traffic, operations, and marketing, and he sailed as a Deck Officer from 1964 to 1968.

Mr. McCormick holds a B.S. from the United States Merchant Marine Academy and an M.S. in Transportation from Northwestern University. Mr. McCormick serves on the Business Advisory Committee for the Transportation Center of Northwestern University.

During the past 10 years, Mr. McCormick has served as President and CEO of two non-for-profits, the Alumni Foundation of the U.S. Merchant Marine Academy and the Cabrini Mission Foundation.

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