The MasterCard Foundation Names Hutham Olayan to its Board of Directors

President and CEO of Olayan America Brings Financial Knowledge and Global Perspective

TORONTO, June 22 /CNW/ -- The MasterCard Foundation announced today the appointment of Hutham S. Olayan to its board of directors. Ms. Olayan brings considerable expertise in global finance and development, as well as deep knowledge of the Middle East.

"The board of directors of The MasterCard Foundation is distinguished by its global outlook and experience," said Lois Juliber, chairman of the board and retired vice chairman and chief operating officer of Colgate-Palmolive Company. "Hutham's perspective, influenced by her experience across multiple global markets, will be of tremendous value as the Foundation continues its work on microfinance and youth education worldwide. We are delighted to have her join the board."

Ms. Olayan is a principal and director of The Olayan Group, a private, multinational enterprise engaged in international investing as well as commercial and industrial businesses in Saudi Arabia and the wider Middle East. She has headed the group's U.S. operations for more than 20 years, overseeing all investment activity originating in the Americas. She is president and CEO of Olayan America and other U.S.-based affiliates of the group.

"I am impressed by The MasterCard Foundation's commitment to fighting poverty around the world through carefully targeted, high-impact initiatives that will transform the lives of countless individuals," said Olayan. "This is exciting work, and I am honored to be a part of it."

Ms. Olayan is a director of Morgan Stanley and Equity International, and is a member of the International Advisory Board of The Blackstone Group. She also serves on the boards of a number of not-for-profit organizations, including the Peter G. Peterson Institute for International Economics, the American University of Beirut, Georgetown University and Memorial-Sloan Kettering Cancer Center.

Ms. Olayan holds a bachelor's degree from the American University of Beirut and an MBA from Indiana University. She lives in New York with her husband and their three sons.

    
    About The MasterCard Foundation
    

The MasterCard Foundation believes that every person has the potential to transform their lives and to improve the lives of their families and their communities. By increasing access to microfinance and youth education to people in developing countries, the Foundation is enabling them to realize their potential and lift themselves out of poverty. The Foundation's vision is to make the economy work for everybody. It is an independent, private foundation based in Toronto, Canada and was established through the generosity of MasterCard Worldwide at the time of the company's initial public offering in 2006. For more information, see http://www.mastercardfdn.org/.

    
    The members of The MasterCard Foundation Board of Directors are:
    --  Lois Juliber, chair, retired vice-chair and chief operating officer
        of Colgate-Palmolive Company
    --  Phillip Clay, chancellor and professor of city planning at
        Massachusetts Institute of Technology
    --  David Johnston, president of the University of Waterloo in Ontario,
        Canada
    --  Hutham Olayan, principal and director of The Olayan Group
    --  Paul Ostergard, former chairman and chief executive officer of the
        Citigroup Foundation
    --  Marguerite Robinson, former professor, author, independent consultant
        on microfinance
    --  Nigel Wright, managing director of Onex Corporation
    

For further information: Victoria Baxter, [phone], [email protected], for the MasterCard Foundation Web Site: http://www.mastercardfdn.org/