Ex-Im Bank Swears in Larry W. Walther as Member of the Board of Directors

WASHINGTON, Dec. 5, 2011 /PRNewswire/ -- Today, the Export-Import Bank of the United States (Ex-Im Bank) announced that Larry W. Walther has been sworn in as the newest and fifth member of the Ex-Im Bank's Board of Directors. Walther was nominated by President Obama on July 21, 2011 and confirmed by the Senate on November 1, 2011 for the term expiring January 20, 2013.

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Director Walther, a native of Louisiana and a Republican from Arkansas, served as the director of the U.S. Trade and Development Agency (USTDA) where he assumed his duties following his appointment by President George W. Bush in 2008. Director Walther applied his private sector expertise in helping to open commercial opportunities for U.S. firms overseas and in doing so facilitated mutually beneficial partnerships.

Prior to his service at USTDA, Director Walther served three years in Governor Mike Huckabee's cabinet as the Director of the Arkansas Department of Economic Development (ADED). At ADED, he was responsible for the overall direction of management of the Department and for representing the Governor and the State on all matters concerning statewide issues of economic development.  

"Director Walther's experience is invaluable to the Bank's board of directors," said Ex-Im Bank Chairman and President Fred P. Hochberg. "His extensive career in both the private and public sectors is a tremendous asset to the Bank in expanding awareness of its products and supporting the creation of American jobs."

Director Walther worked with SBC Communications, now AT&T, as well as Southwestern Bell Telephone Company prior to entering into the public sector. In 1989, he was chosen as one of the 20 private sector executives to serve a one-year appointment to the Bush Administration and was assigned to the U.S. Department of Treasury. Since 1992, he has served on the Board of Trustees of the College of the Ozarks in Point Lookout, Missouri and as the Chairman of the Board from 2001-2007.  Among many other organizations, Director Walther was a member of the Executive Board for Quapaw Area Boy Scouts and the University of Arkansas Walton School of Business Board of Visitors.  

About Ex-Im Bank:

Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers.

In the past six years, Ex-Im Bank has earned for U.S. taxpayers $3.7 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.

SOURCE Export-Import Bank of the United States