MBIA Inc. (NYSE: MBI) announced today that Theodore (Ted) Shasta (58)
was elected to MBIA’s board of directors and has been appointed to its
Audit Committee. Mr. Shasta is a former Senior Vice President and
Partner of Wellington Management Company, a global investment advisor
with over $400 billion in client assets under management. Mr. Shasta
joined Wellington Management Company in 1996 and specialized in the
financial analysis of publicly traded insurance companies, including
both property casualty and financial guarantee insurers.
Prior to joining Wellington Management Company, Mr. Shasta was a Senior
Vice President with Loomis, Sayles & Company where he was an industry
analyst with responsibility for the automotive, freight transportation
and insurance industries. Before that, he served in various capacities
with Dewey Square Investors and Bank of Boston. Mr. Shasta is a cum
laude graduate of Harvard College and is a Chartered Financial Analyst.
MBIA Chairman Daniel P. Kearney said, "Ted’s 36 years of financial
services experience and his extensive background in the analysis of
insurance companies make him an excellent addition to MBIA’s board. We
are pleased to welcome him to MBIA and look forward to the benefit of
his insight during our re-emergence as a leader in the financial
guarantee industry.”
Forward-Looking Statements
This release includes statements that are not historical or current
facts and are “forward-looking statements” made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. The words “believe,” “anticipate,” “project,” “plan,” “expect,”
“intend,” “will likely result,” “looking forward” or “will continue,”
and similar expressions identify forward-looking statements. These
statements are subject to certain risks and uncertainties that could
cause actual results to differ materially from historical earnings and
those presently anticipated or projected. MBIA cautions readers not to
place undue reliance on any such forward-looking statements, which speak
only to their respective dates.
