FOUNDATION FOR THE MID SOUTH PRESIDENT ANNOUNCES PLANS TO STEP DOWN

The Foundation for the Mid South's president, Dr. George Penick, has told the Foundation's board of directors that it is his intention to step down as president in the next six-to-twelve months. Penick, 56, has served as the president for FMS since its founding in 1990.

"We have been fortunate to have had the vast experience and the visionary leadership that Dr. Penick brought to the Foundation for the Mid South since its inception," said Dr. Beverly Wade Hogan, Chair of the Foundation's board of directors. "Dr. Penick has made many outstanding contributions to the Foundation and to the field of philanthropy itself. Because of his work as the founding president of the Foundation, the states of Arkansas, Louisiana, and Mississippi are better places to live and work."

In his statement to the board, Penick said, "Although the current work of the Foundation is more exciting than at any stage in its history, I have made a difficult decision to step down as president." Penick continued, "My heart told me to stay, but my head urged me -- both for my sake and for the long-term future of the Foundation -- to explore other professional opportunities during the next stage of my career."

Penick reassured the board that he will continue in his present position while they conduct a national search for a replacement. "The board will take the time it needs to find the right person to assume the leadership role of the Foundation for the Mid South," commented Dr. Hogan. "We are grateful for Dr. Penick's commitment to FMS and his willingness to serve until his successor can be named."

A native of central North Carolina, Penick was recruited by former Mississippi Governor William Winter and former Clinton advisor Bob Nash of Arkansas to help develop the framework for FMS after serving as the executive director of the largest private foundation in the South. "When George came on board in 1990, our thoughts were not fully developed on how the Foundation would serve the region." William Winter explained. "Now after fifteen years of dedication and solid work, George will leave this outstanding organization in the hands of a strong board and a capable staff who share his commitment to bringing all people from the region together to improve the quality of life in the Mid South."

Under Penick's leadership, FMS received significant multi-year grants from major funders such as the Ford Foundation, W.K. Kellogg Foundation, the Walton Family Foundation, the Lilly Endowment, and the Pew Charitable Trusts to invest in Arkansas, Louisiana, and Mississippi. Over this time, the Foundation has been able to help attract more than $150 million in new resources for the region.

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