Continental Grain Names Michael J. Zimmerman Senior Vice President, Investments and Strategy.NEW YORK--(BUSINESS WIRE)--April 10, 1996--Continental Grain Company, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , today announced that Michael J. Zimmerman will join the company on May 1 as Senior Vice President, Investments and Strategy. This new position will focus on building the asset base of Continental in a variety of new directions in future years. Mr. Zimmerman will also serve as a member of the Company's Operating Committee and will report directly to Paul Fribourg, President of Continental. He also will become President of Conti-Investments, a new business unit of Continental that will manage investment portfolios in marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has , real estate, transportation and other financial investments related to the Company's core business activities. Mr. Zimmerman spent 20 years at Salomon Brothers
Salomon Brothers was a Wall Street investment bank. , where he was a Managing Director. During his time at Salomon, he held a variety of senior positions in investment banking, including, most recently, Chairman of the Global Screening and Capital Commitments Committees and, formerly, Co-Head of the Merger and Acquisition Group. His decision to join Continental was motivated by the challenge of a new and substantial opportunity in a completely different kind of business. Mr. Zimmerman received a B.A. Degree from Trinity College Trinity College, Ireland: see Dublin, Univ. of. Trinity College Private liberal arts college in Hartford, Conn., founded in 1823. It is historically affiliated with the Episcopal church, though its curriculum is nonsectarian. and an M.B.A. Degree from Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. . He is 45 years old and has spent his entire career at Salomon. Continental Grain is an international agribusiness and financial services concern based in New York. It maintains leading positions in commodity marketing, meat production and processing, feed and flour milling, and consumer and commercial finance. In a separate statement, Salomon Brothers has told Continental Grain that Mr. Zimmerman "is leaving with its regret and blessing, and with the full understanding of Mr. Zimmerman's desire to accept this new challenge with one of America's largest privately held companies privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. ." CONTACT: Daryl Natz 212/207-5578 |
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