March 20, 1987

The President today announced his intention to nominate John Shad, of the District of Columbia, as Ambassador of the United States of America to the Kingdom of the Netherlands. He succeeds L. Paul Bremer III.

Since 1981 Mr. Shad has been Chairman of the Securities and Exchange Commission in Washington, DC. He began his career in 1949 as a securities analyst with Arnold Bernhard & Co., New York City. From 1950 to 1953, he was an institutional account executive with Shields and Co., New York City. Mr. Shad then became an assistant to Norbert McKenna, Reynolds & Co., New York, 1953 - 1955, and then joined Textron, Inc., in New York, in corporate acquisitions. From 1957 to 1959, he was an associate with Shearson Hamill & Co. and became a partner, 1960 - 1962. From 1963 to 1967, Mr. Shad was vice president of E.F. Hutton & Co., New York City; 1968 - 1969, senior vice president; 1969 - 1970, executive vice president; and 1970 - 1981, vice chairman.

Mr. Shad graduated from the University of Southern California (B.S., 1947), Harvard Business School (M.B.A., 1949), and from New York University Law School (LL.B., 1959). Mr. Shad is married, has two children, and resides in Washington, DC. He was born June 27, 1923, in Brigham City, UT.