FOR IMMEDIATE

RELEASE

16 March 2001

The Director of Central Intelligence (DCI), George J. Tenet, announced

today the appointment of A.B. "Buzzy" Krongard to serve as

Executive Director of the Central Intelligence Agency.

The Executive Director is the third ranking position within the CIA

and the incumbent functions essentially as the Chief Operating Officer

of the Agency. For the past three years Mr. Krongard has served as Counselor

to the DCI.

In announcing Mr. Krongard’s selection, Director Tenet said: "The

CIA and the nation are fortunate to have someone of Buzzy Krongard’s

experience willing to help ensure that the management and operation

of the Agency is as efficient and effective as possible. I have treasured

his wise counsel and ‘no-nonsense’ businesslike views on how to address

the challenges facing the Intelligence Community." Tenet added:

"Buzzy is the perfect individual to build upon the successes we

have had in recent years and to bring the management of the Agency to

the next level of performance."

A longtime consultant to DCIs, Mr. Krongard joined the Agency full

time in February, 1998 following an extraordinary 29-year business career.

During his private sector career he served as Chief Executive Officer

and Chairman of the Board of Alex.Brown Incorporated, the nation’s oldest

investment banking firm, and Vice Chairman of the Board of Bankers Trust.

Mr. Krongard received an A.B. degree with honors from Princeton University

and a Juris Doctor degree with honors from the University of Maryland

School of Law. He served three years of active duty as an infantry officer

with the United States Marine Corps.

Director Tenet also announced today the appointment of John O. Brennan

to serve as Deputy Executive Director. Mr. Brennan is currently Chief

of Staff to the DCI and has had an outstanding 21 year career in the

Agency’s Directorates of Intelligence and Operations including significant

postings overseas. In making the appointment, Tenet said: "John

Brennan will provide excellent breadth and depth of experience to complement

the unique skills that Buzzy Krongard brings to the ExDir’s office."

Mr. Krongard will succeed David W. Carey. Mr. Carey has been Executive

Director since July, 1997 and, as such, is the second-longest serving

Executive Director over the past two decades.

Director Tenet praised Carey’s performance as Executive Director. "Dave

has brought order, rationality, discipline and dedication to the job

of being the Agency’s Executive Director," Tenet said. "Much

of the success the Agency has achieved in strengthening our analytic

capabilities, restoring the vitality of our clandestine service, and

recruiting and retaining the best and brightest people for our Agency

family has been the result of Dave’s hard work," Tenet concluded.

Mr. Carey will undertake several special assignments for the Director

before moving on to another assignment.

As Deputy Executive Director, Mr. Brennan will succeed Ms. Regina A.

Genton, whose performance Director Tenet described as "superb."

She has recently been selected to head up a major office within the

Agency’s Directorate of Science and Technology.

Mr. Krongard will assume his new duties effective Monday March 26,

2001.

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