Michael Schulhof Elected to Board of Trustees of Guggenheim Foundation

MICHAEL SCHULHOF ELECTED TO BOARD OF TRUSTEES OF GUGGENHEIM FOUNDATION


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(NEW YORK, NY – December 18, 2009)—Michael P. Schulhof, Chairman and Chief Executive Officer of GTI Group, was elected to the board of trustees of the Solomon R. Guggenheim Foundation at the December 16 meeting of the board. The announcement was made by William L. Mack, Chairman of the Board of the Guggenheim Foundation, who commented, “Michael’s business acumen and commitment to contemporary art will be a critical asset to the Guggenheim’s board of trustees. His parents, Hannelore B. and Rudolph B. Schulhof, both celebrated collectors of modern and contemporary art, have been deeply involved in and committed to the Guggenheim Foundation. To have the next generation come on board is indeed an honor.”

Mr. Schulhof’s late father, Rudolph B. Schulhof, was a trustee of the Solomon R. Guggenheim Foundation from 1993 until his death in 1999, while Mrs. Schulhof became a Charter (Founding) Member of the Peggy Guggenheim Collection Advisory Board in 1980 and is still today an Emeritus Member and an honorary trustee of the Guggenheim Foundation. The Schulhof were celebrated collectors of classic postwar Italian, European, and American art. In 2005, Mrs. Schulhof promised a gift of paintings, sculpture, and works on paper that will reside permanently at the Peggy Guggenheim Collection in Venice, the Italian branch of the Foundation and former home of Peggy Guggenheim. The collection will be known collectively as the Hannelore B. and Rudolph B. Schulhof Collection.

Michael P. Schulhof is the Chairman and Chief Executive Officer of GTI Group, a New York–based firm that specializes in private equity fund investments and advisory services. Sector activities include aerospace, health care, energy and media. The firm has interests in the United States, India, and Europe, with offices in New York and Bangalore.

Mr. Schulhof serves as a director on the boards of a number of companies in which he has investments, including J2Com, an internet-based unified messaging company, and GTI Group LLC. He serves on the Board of Trustees of NYU Langone Medical Center and is a member of the boards of the Brookings Institution, the National Center on Addiction and Substance Abuse at Columbia University, and the American Hospital of Paris Foundation. He is also a member of the Council on Foreign Relations.

Mr. Schulhof’s thorough understanding of the technology-driven media, communications, and entertainment industries is a result of his training as a scientist and his work with Sony’s Akio Morita in the development and implementation of business strategy for Sony that focused on technology-based consumer products and entertainment content. From 1990 to 1995, he was President and Chief Executive Officer of Sony Music Corporation, and from 1993 to 1995, he was President and Chief Executive Officer of Sony Corporation of America.

Mr. Schulhof received the prestigious Chevalier de la Legion d’Honneur from the French Republic in recognition of his work and efforts in promoting the growth of commerce and greater understanding between the U.S. and France.

Mr. Schulhof received a BA from Grinnell College (1964); an MS from Cornell University (1967); and a Ph.D. from Brandeis University (1970). He received an Honorary Degree as Doctor of Physics from Grinnell College.

Mr. Schulhof was born in Manhattan and raised in Great Neck, New York.

December 18, 2009

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FOR ADDITIONAL INFORMATION:
Betsy Ennis
Director, Media and Public Relations
Solomon R. Guggenheim Museum
Telephone: 212 423 3840
E-mail: bennis@guggenheim.org

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