Statue of Liberty-Ellis Island Foundation
Completes Review and Releases Report
29 July 2004
Full Report posted at: http://www.statueofliberty.org
NEW YORK, July 29 /PRNewswire/ -- The Independent Review Committee of the Statue of Liberty-Ellis Island Foundation, Inc., chaired by former Attorney General Griffin B. Bell, today announced the completion of its review of issues raised in press coverage earlier this year. The Committee, with the assistance of lawyers from King & Spalding LLP, has prepared a comprehensive report that addresses the principal allegations discussed in the press. In conducting its review and preparing its report, the Committee benefited from the full cooperation of the Foundation staff and the Board of Directors. The Committee thanks the National Park Service and Department of Interior for their important assistance in conducting this review.
"In its review, the Independent Committee found the Foundation has played an important role in facilitating the re-opening of the Statue of Liberty and did not in any way delay re-opening or misuse endowment funds, as incorrectly reported by the media," said Bell. "We do recommend, however, that the Foundation reassess its mission, role, future and executive compensation structure and find ways to improve its corporate governance."
The report and supporting exhibits can be accessed at http://www.statueofliberty.org.
Contact:
Jessica Schnack
King & Spalding LLP
ph (212) 556-2226
jschnack@kslaw.com
SOURCE: http://www.statueofliberty.org
