Nomination of Craig A. Nalen To Be President of the Overseas Private Investment Corporation

The President today announced his intention to nominate Craig A. Nalen to be President of the Overseas Private Investment Corporation, United States International Development Cooperation Agency.

Mr. Nalen has been director of Barnett Bank of Palm Beach County, Fla., since 1978; director of Firan-Glendale Corp. of Ontario, Canada, since 1976; chairman of the board of the Griswold Companies of Minneapolis, Minn., since 1975; and director and founder of Children's World of Denver, Colo., since 1969.

In 1975-80 he was member, management committee, of Esmark, Inc., of Chicago, Ill. During that same period he was chairman, president, and director, STP Corp., Fort Lauderdale, Fla. In 1972-75 Mr. Nalen was chairman, president, and director, American Photograph Corp. He was divisional general manager, corporate vice president, and member of the executive council of General Mills, Inc., in 1964-72. He was marketing executive of Foremost-McKesson in 1962-64 and marketing executive at Proctor & Gamble in 1957-62.

Mr. Nalen served in the U.S. Navy in 1952-55. He was graduated from Princeton University (B.A., 1952) and Stanford University Graduate School of Business (M.B.A., 1957).

Mr. Nalen is married and has three children. He resides with his family in Ocean Ridge, Fla., and Wayzata, Minn. Mr. Nalen was born in Montclair, N.J., on April 17, 1930.