FROM THE OFFICE OF PUBLIC AFFAIRS

August 18, 2004
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Air Transportation Stabilization Board Names Mark Dayton Executive Director

The Air Transportation Stabilization Board (ATSB) announced today that it has named Mark Dayton as its new Executive Director. He is replacing Michael Kestenbaum, who has served as Executive Director since January of 2004. Mr. Kestenbaum is leaving the Board's staff to pursue an MBA at the Wharton School of the University of Pennsylvania.

Mr. Dayton is the Assistant Inspector General for Competition and Economic Analysis at the Department of the Transportation and will serve concurrently as the ATSB's Executive Director. He has been with the Department of Transportation since 1997 and has substantial experience in aviation matters. Previously, he held positions at the Congressional Budget Office, the Transportation Research Board of the National Academy of Sciences, and the School of Business at the University of Maryland.

The Chairman of the ATSB, Federal Reserve Board Governor Edward M. Gramlich, said "We are very pleased that Mark Dayton has agreed to take over as Executive Director. His background ideally positions him to play a vital role in the on-going work of the ATSB." Governor Gramlich also said "Michael Kestenbaum has made tremendous contributions to the ATSB over the past two and a half years. His analytical ability and leadership have been invaluable, and the ATSB wishes him well in his future endeavors."

Additional information on the ATSB is available on its Web site, www.treas.gov/atsb.

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