Lawrence F. Probst, III Appointed Chairman of U.S. Olympic Committee

COLORADO SPRINGS, Colo. - An internationally respected business leader known for his expertise in interactive media, entertainment and marketing has been elected Chairman of the Board of Directors of the U.S. Olympic Committee (USOC). Lawrence (Larry) F. Probst, III (San Francisco, Calif.) was unanimously elected to the position for a four year term during a USOC Board of Directors conference call earlier today.

Probst, 58, was named to the USOC Board of Directors as an Independent Director in September and it is anticipated he will assume duties as Chairman during the 2008 U.S. Olympic Assembly in Orlando, Fla., Oct. 8-12.

"I am honored to have the opportunity to serve an organization and a movement that makes such a significant difference in our world today," Probst said. "This is a movement built upon the spirit and dedication of athletes, and the selfless commitment of volunteers. By working closely with my fellow Board members, the USOC staff and the greater Olympic family in our country, my goal as Chairman is to preserve and strengthen opportunities for all those who wish to participate in this important endeavor."

"As digital technology and advanced media increasingly shape the manner by which sport is marketed and consumed, we are extremely fortunate to welcome as our new Chairman someone with the expertise and perspective that Larry brings," outgoing USOC Chairman Peter Ueberroth said.  "Working with the Board of Directors and Management Team, I am confident Larry's proven business skills and experience will be invaluable as the USOC continues to shore up its revenue streams and expand the impact and reach of the Olympic Movement."

Probst is Chairman of the Board of Directors of Electronic Arts (EA), the world's leading developer and publisher of interactive entertainment. Probst joined EA in 1984 and served as the Vice President of Sales until 1986, followed by four years as Senior Vice President of the company's publishing division. He led EA as President from December 1990 to October 1997, and was named Chief Executive Officer in May of 1991 serving in that capacity until April 2007. Probst has been a Director of EA since January 1991 and was elected to the position of Chairman of the Board of Directors in July of 1994.

Under Probst, EA navigated multiple technology transitions and made strategic investments in new platforms such as mobile, online and other emerging markets. During his tenure as CEO, the company grew its annual revenue from $175 million in 1992 to roughly $3 billion in 2006 and expanded international operations to more than 75 countries.

Ueberroth will continue his service to the USOC as President in an honorary capacity - a non-voting, non-Board member position that will last for two years. He will focus primarily on the USOC's international relations efforts and cooperation with the International Olympic Committee, working closely with USOC First Vice President, International Bob Ctvrtlik and Chief Executive Officer Jim Scherr. Ueberroth's new role will also focus on the USOC's partnership with Chicago 2016 and bringing the Olympic and Paralympic Games back to the United States.   

Ctvrtlik's Board term expired following the 2008 Olympic Games. However, he remains an officer of the USOC as First Vice President, International for two additional years, though also in a non-voting, non-Board capacity.

"As the first Chairman under our new governance structure, Peter's leadership and vision has been instrumental in creating momentum and credibility for the Olympic Movement in the United States," Scherr said. "I look forward to working closely with Larry and the Board of Directors in building upon the foundation Peter has helped established and driving further success for our organization as we approach Vancouver and London."

For more information, please contact the USOC Media and Public Relations Division at 719-866-4529.