Bain & Company Expands Worldwide Director Group With Nine Promotions.

Business Editors

BOSTON--(BUSINESS WIRE)--Jan. 16, 2001

Bain & Company, the global strategy consulting firm, today announced the promotion of nine individuals to the position of director. The promotions were made in recognition of client achievements and contributions to the firm's continued growth.

The nine new directors, representing eight of Bain's worldwide offices, include: Luca Caruso (Stockholm); Denis Chabaneix (Paris); George Cogan (San Francisco); Alan Colberg (Atlanta); Dean Donovan (Johannesburg); Stephen Ellis (San Francisco); Mark Horwitch (Chicago); Charles Ormiston (Singapore); and Theodor Weimer (Munich).

"Each of these newly appointed directors has helped our clients to design practical strategies that have achieved results and made their companies more valuable," said John Donahoe, Worldwide Managing Director. "These individuals have contributed to both the intellect and character of Bain & Company, as well as to its global growth and success."

Additional background information on each director:

Luca Caruso is the Managing Partner in Bain's Stockholm office. He joined the firm in 1989 and was elected to the partnership in 1995. Mr. Caruso has worked extensively across industries in Europe and the U.S. including telecom, e-commerce, engineering, automotive, and aerospace. His specialties lie in strategy development, performance improvement, and acquisitions. Mr. Caruso earned an M.B.A. from INSEAD in France.

Denis Chabaneix joined the Bain Paris office in 1993. Since that time, he has played a leadership role in the development of the intellectual capital for the Financial Services Practice. He has worked on strategy projects for many industries such as banking, insurance, other financial services sectors, and utilities, with a special focus on corporate strategy, new business definition, distribution strategies and e-commerce/technology issues. He has regularly helped clients to create global strategies for financial institutions in Europe as well as in emerging countries (Africa, Asia) and has been a speaker at many conferences in Europe and Asia. Mr. Chabaneix earned an M.B.A. from Harvard Business School.

George Cogan joined Bain's San Francisco office in 1989. Over the years, he has developed extensive experience in strategy development and operational excellence while assisting a number of companies in growth and turnaround situations. He is a key member of the High Technology Practice and has focused his efforts primarily on technology-driven businesses such as semiconductor components, computer hardware, storage, peripherals, enterprise software, IT services, and telecommunications. He serves on the Board of Directors of the Exploratorium in San Francisco. Mr. Cogan earned an M.B.A from Stanford Graduate School of Business.

Alan Colberg is the Managing Partner of Bain's Atlanta office. He joined the firm in 1987. Since that time, he has focused on strategy, process innovation, and new business development. In so doing, he has helped clients create real change and superior results in industries, which include apparel, professional services, pharmaceuticals, health care, consumer products, banking, insurance, and computers. Mr. Colberg earned an M.B.A. from Harvard Business School.

Dean Donovan is a partner in Bain's Johannesburg, South Africa office. He joined the firm in 1989. While at Bain, he has helped general managers resolve a broad variety of business unit strategy issues. He has extensive experience in the airline, automotive, consumer goods, and financial services industries, and has specific expertise in banking crisis and distribution issues. From 1992-1995, Mr. Donovan helped pioneer Bain's Latin America Practice by helping local firms adjust to the newly competitive conditions and by helping multinationals make the best of liberalized market conditions. He earned his M.B.A. from the Wharton Business School at the University of Pennsylvania.

Stephen Ellis is the Managing Partner of Bain's San Francisco office. He joined the firm in 1993. Since that time, he has been a leader in the Technology and Telecommunications Practice and a pioneer in developing the firm's innovative approaches to driving results through strategy. He has worked in a variety of industries including, telecommunications, computer hardware and software, networking, financial services, gas and electric utilities, transportation, and real estate. He has led engagements addressing business and corporate strategy, customer loyalty, reengineering, acquisition valuation and merger integration. Mr. Ellis earned an M.B.A. from the Stanford Graduate School of Business.

Mark Horwitch joined Bain in 1980. He has served clients in the Boston, San Francisco and Chicago offices since that time. His areas of expertise include retail, consumer products, apparel, industrial, and mergers and acquisitions. Mr. Horwitch is currently the head of Bain's internal Knowledge Management activities. During his time at Bain, he chose to take an extended sabbatical where he served as Assistant to the Chairman of a leading financial services company and as CEO of five private companies in a diverse range of industries. Mr. Horwitch earned his M.B.A. from Harvard Business School.

Charles Ormiston works with a small set of senior executives on programs of major strategic and organizational change. With twelve year's working experience in Asia, he is a widely acknowledged expert on the issues facing Chief Executives in the Asia-Pacific region. In addition to client responsibilities, Mr. Ormiston has executive responsibility for Bain & Company's offices in Greater China and Southeast Asia and serves as the global head of Bain's merger integration practice area. In the year 2000 Bain & Company was directly involved in two of the five largest mergers globally, two of the five largest acquisitions in Japan, and the largest private equity transaction in Korea. Mr. Ormiston earned his M.B.A. Harvard Business School.

Theodor Weimer joined Bain's Munich office in 1995. The majority of his work has focused on clients in the European financial services industry; including retail banking, commercial banking, wholesale/investment banking, and insurance. He also has experience in the automotive, steel, and logistics industries. Functionally, his expertise lies in the areas of corporate strategy, globalization, organization, e-commerce, and pre/post merger management. Mr. Weimer earned a doctorate in Business Administration from Bonn University.

About Bain & Company, Inc.

Bain & Company is one of the world's leading global business consulting firms, serving clients across six continents. It was founded in 1973 on the principle that consultants must measure their success in terms of their clients' financial results. Bain's clients have out performed the stock market 3 to 1. With headquarters in Boston and offices in all major cities throughout the world, Bain has worked with over 2,000 major multinational and other corporations from every economic sector, in every region of the world. For more information visit www.Bain.com.