Hilton Welcomes New Board Directors

1st Jun 2005

Hilton Hotels Corporation announced today that Barbara Bell Coleman and senior financial services executive Christine Garvey have joined the company’s Board of Directors. Ms. Coleman, 54, is president of BBC Associates, LLC, which provides consulting services to corporate and philanthropic organizations and manages a portfolio of projects for Van Beuren Management, a private financial entity. She recently served as a minority recruitment and retention consultant for PricewaterhouseCoopers and serves on the boards of City National Bank of New Jersey, Horizon Blue Cross Blue Shield of New Jersey and Caesars Entertainment. Active in public service in her home state of New Jersey, Ms. Coleman is also vice chair of the New Jersey Schools Construction Corporation, a subsidiary of the Economic Development Authority, which oversees the $8 billion effort to build new schools in that state’s districts with the greatest needs. Previously she served as chief of prevention services for the New Jersey Division of Narcotic and Drug Abuse Control and as president of the Boys & Girls Clubs of Newark.

Ms. Coleman earned her Masters in Public Health at Columbia University and is a graduate of Rutgers University, Newark College of Arts and Sciences, where she was inducted into the Hall of Distinguished Alumni in 2004. She also holds two honorary doctorate degrees in Humane Letters from Bloomfield College and Drew University. Her long history of service to the community includes involvement with several not-for-profit organizations including The MCJ Foundation, The New Jersey Performing Arts Center and the Boys & Girls Clubs of Newark. She is co-architect of the READY program (Rigorous Educational Assistance for Deserving Youth) and is volunteer chair for the Amelior Foundation in Newark.

Ms. Garvey, 59, is a senior financial services executive with recognition throughout the industry as a commercial real estate expert. She most recently served as the Global Head of corporate real estate and services for Deutsche Bank AG, where while headquartered in London, England, she managed a real estate portfolio of 32 million feet in 50 countries.

Previously, Ms. Garvey served in several senior level banking positions including Global Head of worldwide real estate and workplace resources for Cisco Systems; Group Executive Vice President and Head of commercial real estate services for Bank of America; Senior Vice President and Manager, OREO division for Security Pacific Bank; Senior Vice President and Manager, corporate real estate for Wells Fargo Bank, and real estate portfolio manager at First Interstate Bank. Prior to her career in banking, Ms. Garvey worked for several years as an attorney specializing in corporate and probate real estate.

Ms. Garvey earned her bachelor of arts degree from Immaculate Heart College in Los Angeles, California and received her juris doctor from Suffolk University Law School in Boston, Massachusetts. She is a member of the Massachusetts, Vermont and Federal Bar Associations, Massachusetts Broker’s License, Urban Land Institute and Corenet. She also serves on the board of directors of San Francisco-based Catellus REIT. She resides in Santa Barbara, California.


“We are pleased to have Barbara Bell Coleman and Christine Garvey join our Board of Directors. Their insights and experience will be valuable additions to our Board and our company, and we look forward to their active participation in the future of Hilton Hotels Corporation,” said co-chairman and CEO Stephen F. Bollenbach. “With the addition of these two experienced directors, we have increased the number of independent directors consistent with the board’s goal to do so.”

With the addition of Ms. Coleman and Ms. Garvey, the Hilton Board now comprises 14 members. An inside director who did not stand for re-election has gone off Hilton’s Board.

At Hilton’s annual meeting of shareholders held May 26, Hilton shareholders voted overwhelmingly to:

—Elect four current Directors whose terms are expiring - Stephen F. Bollenbach, Benjamin V. Lambert, John L. Notter and Peter V. Ueberroth - to three-year terms expiring in 2008, as well as the aforementioned election of Ms. Coleman. Each director received more than 91 percent of the votes.

—Ratify the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for 2005.

In addition, two shareholder proposals were voted on:

—A proposal that Director nominees be elected by the affirmative vote of the majority of votes cast at an annual meeting of shareholders (as opposed to a plurality vote) was rejected with only 43 percent of the votes cast being cast in favor of that proposal.

—A proposal urging the Board to seek shareholder approval for future severance agreements with senior executives that provide benefits in an amount exceeding 2.99 times the sum of the executive’s base salary plus bonus was approved with 55 percent of the votes cast being cast in favor of the proposal. The proposal did not require the Board to take such action, but simply urged the Board to do so. In response to the approval of this proposal, Hilton Hotels Corporation said: “Our Board of Directors will consider the proposal and discuss appropriate courses of action.”


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