After 2.

5 years as CEO of the Port of Seattle, I resigned to return to my 30+ year

career leading companies in the private sector.

While at the Port, our airport, seaport and real estate portfolio posted record
results and the Port had its strongest financial performance in its 105-year
history.

We posted record passenger levels and air cargo tonnage, were the fastest
growing airport in the USA, launched over $2 billion in capital projects, achieved
record cruise passengers and achieved our highest occupancy rates in our
commercial real estate portfolio, 98%. In addition, we launched the NW Seaport
Alliance, a joint venture between the ports of Tacoma and Seattle to align
commercial and operational interests to compete in the global container cargo
industry. Our combined efforts made us the third largest seaport in North
America.

I brought private sector practices to a government entity and created a highly

effective public agency. It required a significant culture shift inside an
organization that constantly struggles to align its business goals and objectives
with the items that are important to its board of elected officials.

While transitioning out, the port came under scrutiny from the State Auditor for
an innovative Retention Pay Plan that the Commissioners (Board) suggested, I
supported, and the Commissioners approved for all of our salaried employees.

Once the media began reporting on the audit, my already-challenging relationship

with the Commission President got even more challenging. From my perspective,
the Commission President attempted to redirect blame for the Auditors Finding
onto me and to discredit me in the media. The media reported allegations from
an unsubstantiated draft copy of my performance review which contained false
perceptions and errors. As you can imagine, this was a very troubling and
disturbing outcome for me, which is why I abruptly resigned vs. serving out the
remainder of my contract.

Several months ago, I decided that it was time for me to return to the private
sector. I had accomplished most of the things I set out to do for the Port, and
every day, I realized more and more that I am a private sector person. I enjoy the
creativity, autonomy and risk-taking that comes with leading a private sector
organization, and for those reasons, I am excited about the next chapter in my
professional life.

I have learned a lot during my time at the Port, and I believe that knowledge will
be very helpful to me in my next endeavor. Combined with my proven track
record of successful leadership emphasizing dramatic growth, operational
excellence and talent development, I believe that I will continue to successfully
grow as a leader in building high performance work teams in manufacturing,
distribution and transportation companies.