Ferry Appointed Catholic Education FoundationPresident; Korn/Ferry Chairman Welcomes Opportunity...

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Sept. 11, 2000

Korn/Ferry International Founder and Chairman Richard M. Ferry has been appointed president of the Catholic Education Foundation of Los Angeles by Archbishop of Los Angeles Cardinal Roger Mahony.

The Catholic

Education Foundation is the nation's largest nonprofit organization providing Catholic school tuition assistance to low-income children and families. During the 2000-2001 school year, CEF's record $4.5 million in tuition grants will enable 4,700 low-income children to attend Catholic schools in Los Angeles, Ventura and Santa Barbara Counties.

As founder and chairman of Los Angeles-based Korn/Ferry International, Ferry chairs the world's largest executive search firm with more than 70 offices in 40 countries. Ferry is also active in numerous civic and charitable activities, serving on the boards of the Performing Arts Center of Los Angeles County, the Music Center Foundation, Catholic Charities of Los Angeles, and the California Community Foundation.

Ferry said he welcomes the opportunity to make the benefits of a Catholic school education more available to low-income and disadvantaged children.

"I know from having served on the board of the Catholic Education Foundation for nearly 10 years how much this organization has contributed to the lives of young people," Ferry said. "For many children, the opportunity to attend a Catholic school has literally changed their lives, helping them to realize their dreams and become good citizens and productive members of our society. I look forward to helping the Foundation find creative ways to meet the needs of a whole new generation of children."

The Catholic Education Foundation was founded by Cardinal Mahony in 1988 and has awarded more than $28 million in scholarships to 37,000 children since its inception. Among the children receiving scholarships this year, more than 75% are Hispanic, 9% are African American, and 13% are non-Catholic. Families must meet specific income guidelines, which are based on the Federal School Lunch Program.