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Management announced for the new Gordon and Betty Moore Foundation

March 7, 2001

The newly launched Gordon and Betty Moore Foundation announced the first five members of its management team today -- a group of senior professionals drawn from the foundation community, the high-tech industry, the financial world and corporate management.

Said Lew Coleman, President, "we've been very fortunate to be able to have people of this caliber leave what they were doing to join our team. They are experienced, creative, motivated and pragmatic. They give us an eclectic breadth of experience and knowledge that will be key to the sorts of opportunities we hope to uncover, and they bring the leadership qualities and enthusiasm we need to help turn those opportunities into realities."

The Foundation, a multi-billion dollar family foundation underwritten by Intel co-founder Gordon Moore and his wife Betty, was formed a little over three months ago (late November, 2000). Coleman, formerly Chairman of Banc of America Securities and before that Vice-Chairman of Bank of America, was named to lead the Foundation at its formation in November and formally assumed overall management responsibility at the beginning of February (2001).

In its start-up phase, the Foundation is assembling its staff and moving into temporary office space in San Francisco's Presidio. The new management team, which will report to Coleman, will direct the activities of a foundation with a worldwide reach and with special focus on education, science and the environment.

Coleman said the first group of new leaders is:

Suzanne Badenhoop, a former organizational and legal advisor to financial institutions and nonprofit organizations, a founding partner of the San Francisco law firm Badenhoop/Sakai and outside general counsel to the Bank of America Community Development Bank -- General Counsel.

Sherry Bartolucci, former Executive Vice President of Business Engineering Services for Bank of America, with extensive additional experience in operations management, leadership and human resources -- Chief Adminstrative Officer.

Alice Ruth, former Senior Managing Director and Co-Director of Equity Research for Nationsbanc Montgomery Securities and prior to that Senior Managing Director of Montgomery Securities -- Chief Investment Officer.

Ed Yoon, former Architectural Engineer, Microsoft Corporation and a former Microsoft Senior Technical Evangelist -- Chief Technology Officer.

As General Counsel, Suzanne Badenhoop has responsibility for all the legal affairs of the Foundation. In her 20 some years of legal practice, she developed special expertise in the areas of real estate and finance, including affordable housing and other Community Reinvestment Act investment and finance. Both prior to and during her legal practice, she advised nonprofit organizations, businesses and governmental agencies on organizational structure, planning and conflict resolution. She is a founding board member of Glide Community Housing and Glide Community Development and currently serves on the board of Bread and Roses. A Minnesota native and former member of the faculty at the University of Minnesota, she earned her J.D. degree at Hastings College of Law.

As Chief Administrative Officer, Sherry Bartolucci is responsible for the Foundation's adminstrative operations, including human resources, communications, facilities and security -- with a special charter to manage the Foundation's creation of its own special culture. A graduate of UCLA, she brings a variety of experience that includes international human resource management, manufacturing production, executive consulting and Peace Corps service in Peru. She has been involved with numerous nonprofit organizations, and has served on many of their boards. Bartolucci is currently owner of SLB Farms of Penn Valley, CA., which breeds, raises and shows world champion Morgan horses.

As Chief Investment Officer, Alice Ruth is managing the Foundation's investment portfolio. She brings to the job a strong reputation in finance, having been ranked by Institutional Investor and the Wall Street Journal among the country's top investment professionals. Alice holds an AB in economics from Dartmouth College.

As Chief Technology Officer, Ed Yoon is utilizing technology to advance the Foundation's programs and operations, is developing and refining systems and protocols inside the Foundation to achieve maximum speeds, reach and access, and is working with grant applicants, grantees and other organizations to develop standard data formats that can be used to share information broadly. Before joining Microsoft, Yoon was with Lotus as a Notes Engineer. Previously, he worked on various projects for the U.S. Government in Washington, D.C. Yoon did his undergraduate work at the University of Michigan.

Yet to be named are individuals to manage each of the Foundation's specific areas of interest. Procedures for grant submissions will be made available to all potential applicants via the Foundation's Web site, which is now in development and is expected to be in operation in May.

The Gordon and Betty Moore Foundation was established in September 2000 to create positive outcomes for future generations. The Foundation funds outcome-based grants and initiatives to achieve significant and measurable results. Grantmaking supports the Foundation's principal areas of interest: global environmental conservation, science, and the San Francisco Bay Area.