ICIC NAMES DAVID G. LATIMORE AS PRESIDENT AND CEO

Former Pension Management Expert and Community Leader
Takes Helm of National Non Profit
 
Porter: “This will take ICIC to a whole new level of national impact in
inner city economic development”

BOSTON, October 12, 2007 – The Initiative for a Competitive Inner City (ICIC) has named David G. Latimore as its new president and chief executive officer. Latimore takes over from Dorothy A. Terrell, who had served as ICIC’s President and CEO since 2004. Mr. Latimore will have overall responsibility for the broad execution and operational management of the organization, with a focus on further enhancing its profile and partnerships.

Harvard Business School Professor Michael E. Porter, the founder and Chairman of ICIC, will continue to be closely associated with the organization, focusing on research and external communications. Professor Porter said about the appointment, “I know that I speak for the Board in welcoming David G. Latimore to ICIC.  He is a passionate and gifted corporate and community leader with a proven ability to get things done. We are supremely confident that he will take ICIC to a whole new level of national impact in inner city economic development.”

With more than fifteen years of success in business and community development, Mr. Latimore brings a wealth experience to the position and has a background well suited to advance ICIC’s mission of transforming inner city communities through private sector engagement and business-led economic development. “I’m honored to be stepping into a role that promotes the economic opportunity of America’s inner cities,” Latimore said. “ICIC has been doing cutting-edge, significant work over the last twelve years; I look forward to being a part of that as we move forward and extend our revitalization efforts to cities across America.”

A native of St. Louis, Mr. Latimore graduated from Harvard University with a BA in Economics in 1990. He began his career as an Associate Consultant for Bain & Company, and then served as Chief Operating Officer of Emerging Manager Trust Group, a startup company based in New Orleans helping minority-owned asset management firms grow and prosper.

Mr. Latimore held a series of increasingly senior positions in the pension management field, serving as Vice President and Group Manager of Sales and Marketing for the Mercantile Bancorporation, Marketing Executive for The Vanguard Group, Director of Research and Sales at Hartford Life, and Managing Vice President of the ICMA Retirement Corporation. In 1996, the St. Louis Business Journal named him as one of the “Top 40 Business Leaders Under 40”.

Throughout his business career, Mr. Latimore remained dedicated to economic development and community activities. He served as Executive Assistant to the Mayor, and later Consultant for the St. Louis Development Corporation. He was Senior Pastor for a 200-member congregation at the Southern Union Baptist Church, and a volunteer in the St. Louis Public School system.

Recently, Mr. Latimore earned his Master’s in Divinity from the Duke University Divinity School. As part of his training, he served as the interim Senior Pastor for a 500-member congregation at the Mt. Carmel Baptist Church in Gainesville, Florida. In this role, he was responsible for a 100 unit low-income housing development, a life skills training program, and strategic partnerships with Santa Fe Community College and the City of Gainesville.

David is married to Tammie and has five children between the ages of four and twelve.

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About the Initiative for a Competitive Inner City
The Initiative for a Competitive Inner City (ICIC) is a national not-for-profit organization founded in 1994 by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector engagement that leads to jobs, income and wealth creation for local residents. ICIC brings together business and civic leaders to drive innovation and action, transform thinking and accelerate inner city business growth and investment.