National Association of Corporate Directors New England Chapter Announces Director of the Year Award Winners

Raytheon Secures Board of the Year Honor, Highlights List Winners to be Honored at May 8(th) Event at Boston's Intercontinental Hotel

BOSTON -- The National Association of Corporate Directors (NACD) New England Chapter today announced the winners of the 2008 Director of the Year Awards. The awards dinner will be held on May 8, 2008, at Boston's Intercontinental Hotel to celebrate and honor some of New England's most engaged and dedicated corporate directors.

"This year's nominees represent a broad array of industries with a group of individuals who are leaders in their chosen fields and role models for good corporate governance," said Edward H. Pendergast, New England Chapter President. "We're proud as an organization to recognize the companies and individuals that support the NACD's vision of excellence in boardroom leadership."

"From Raytheon's exemplary corporate governance to the distinguished service that our lifetime Achievement Award recipient Neal Finnegan has given to corporate governance for nearly three decades, all of this year's award recipients are shining examples of good corporate governance," said Event Chair William A. Earon. "Our May 8th event, which once again will be emceed by well-known television personality Natalie Jacobsen, will be a wonderful evening to celebrate and recognize their accomplishments in supporting good corporate governance."

The following boardroom leaders of New England-based companies who have made outstanding contributions to New England's corporate community will be recipients of the New England region's Director of the Year awards:

Board of the Year: Raytheon. Raytheon Company's board of directors has set the tone at the top by driving a culture of integrity and high ethical standards. The Raytheon board has provided sound guidance to management in its efforts to resolve challenging regulatory, business and litigation issues; reduce debt and build a strong balance sheet; steer the company's strategic focus on technology, and on core, adjacent and international markets; divest non-core businesses; mitigate risks and support focused execution; and adopt best governance practices. The trusted partnership between board and management has resulted in strong financial performance for shareholders and a highly-regarded reputation for integrity and public accountability.

Lifetime Achievement Award: Neal Finnegan. With a professional resume that spans three decades of senior leadership posts in a dozen of Boston's most storied financial institutions, including U.S. Trust, Worcester Bancorp., Hanover Insurance, and Citizens Bank, Finnegan's achievements in the world of finance are self-evident. What most excites Finnegan, however, is his work with nonprofits. Neal has committed much of his time and talent to organizations that benefit young people and those in need. Be it the Boys and Girls Club, Junior Achievement, Catholic Charities, or his beloved Northeastern University where he served as Chairman of the Board for a decade, Finnegan has contributed greatly to the achievements of others.

Leadership in Public Corporate Governance Award: Dr. Sandra Moose, Presiding Director of Verizon Communications Inc. and Rohm and Haas Company; Director, AES Corporation; Chairman of the Board, Natixis Advisor and Loomis, Sayles Funds. Dr. Sandra O. Moose is experienced in corporate governance and has spoken at NACD and board leadership events on topics such as board evaluation and CEO succession. In addition to her public board service, she is president of Strategic Advisory Services. She also is a Senior Advisor at The Boston Consulting Group, after a 35 year career at the firm in which she served as a Senior Vice President and, for more than a decade, the Managing Partner of its New York office. An active leader in the non-profit world, Dr. Moose serves on the boards of the Alfred P. Sloan Foundation and the Boston Public Library Foundation and chairs the Harvard Graduate School Alumni Council. She is a director or trustee of other charitable organizations, including the Museum of Fine Arts in Boston, the Huntington Theatre, and the Museum of Science. Dr. Moose was the 1999 recipient of the American Economic Association's Carolyn Shaw Bell award, which is given annually to an individual who has furthered the status of women in the economics profession. She also received the Outstanding Corporate Director of the Year Award in 2004 presented by Board Alert.

Leadership in Private Corporate Governance Award: Wendell J. Knox, President & CEO, Abt Associates. Wendell Knox was named President and Chief Executive Officer of Abt Associates in 1992. He has responsibility for all research and consulting, marketing, and financial operations, as well as strategic direction of the Company. Mr. Knox joined Abt Associates in 1969 while attending Harvard University. His own applied research and consulting activities have included work in urban and regional economic development, minority business expansion, marketing strategy for financial services corporations and quality measurement for a variety of industries. Mr. Knox is active in civic affairs, including past or present board memberships with Brigham and Women's Hospital, The Greater Boston Chamber of Commerce, The Partnership, The Efficacy Institute, The Biomedical Sciences Career Program, The National Conference for Community and Justice, and the Dimock Community Foundation. He also serves on the boards of Eastern Bank and The Hanover Insurance Group, and served on the Board of Eastern Enterprises as well.

Leadership in Non-Profit Governance Award: Harold Hestnes, Former Partner, Wilmer Cutler Pickering Hale & Dorr, LLP. For more than 40 years, Hestnes practiced general litigation with an emphasis on public law issues, particularly antitrust and regulatory matters affecting the oil, gas and electric power industries. He retired from active practice in 2007. Mr. Hestnes is a prior chairman of the Greater Boston Chamber of Commerce, director and secretary of the Massachusetts Business Roundtable, and is past chairman and a member of the Boston Coordinating Committee. He has served as chairman of the Board of Selectmen for the Town of Weston, and as director and chairman of the Massachusetts Taxpayers Foundation. He is also the Chairman of the Board of Directors of CareGroup and a board member of MassINC.

About the National Association of Corporate Directors

The National Association of Corporate Directors (NACD) is a not-for-profit membership organization devoted exclusively to improving director and board effectiveness in fulfilling their obligation to ensure shareholder and stakeholder value. Founded in 1977, NACD conducts educational programs and standard-setting research and provides information and guidance on a variety of board governance issues and practices. NACD's 10,000 director members comprise both individual directors and entire boards ranging from the Fortune 100 to smaller public, private, and closely held companies. NACD is the publisher of Directors Monthly and provides governance information online at www.nacdonline.org.

For more information about the NACD New England Chapter's Director of the Year Awards Dinner, including a list of sponsors and ticket information, please visit www.nacdne.org.

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