PSH-Annual-Report

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Annual Report Year Ended December 31, 2014DirectorsAnne Farlow(Chairman)Richard BatteyNicholas BottaJonathan KestenbaumMs Farlow, a Hong Kong resident, acts as an independent Director of theCompany and is an experienced private equity investment professional andnon-executive director. From 2000-2005, she was a director of ProvidenceEquity Partners in London, and was one of the partners responsible forinvesting a $2.8 billion fund in telecom and media companies in Europe. From1992-2000, she was a director of Electra Partners, and was based in Londonfrom 1992-1996 and Hong Kong from 1996-2000. Prior to working in privateequity, Ms Farlow worked as a banker for Morgan Stanley in New York, andas a management consultant for Bain and Company in London, Sydney andJakarta. Since 2005, she has been an active investor in and non-executivedirector of various unlisted companies. Ms Farlow graduated from CambridgeUniversity with a MA in engineering in 1986 and a MEng in chemicalengineering in 1987. She obtained a MBA from Harvard Business School in1991.Mr Battey, a Guernsey resident, acts as an independent Director of theCompany and also serves as a non-executive director of a number ofinvestment companies and funds, of which AcenciA Debt Strategies Limited,Juridica Investments Limited, Princess Private Equity Holding Limited, BetterCapital PCC Limited, Prospect Japan Fund Limited, and NB Global FloatingRate Income Fund Limited are listed. From 2005-2006, Mr Battey was chieffinancial officer of CanArgo Energy Corporation. Mr Battey also worked for theSchroder Group from 1977-2005, first in London with J. Henry Schroder Wagg& Co. Limited and Schroder Investment Management, then in Guernsey asfinance director and chief operating officer of Schroders (C.I.) Limited, andretired as a director of his last Schroder Group Guernsey company in 2008.Mr Battey received his Bachelor of Economics from Trent PolytechnicNottingham in 1973. Mr Battey is a chartered accountant having qualified withBaker Sutton & Co. in 1977.Mr Botta, a U.S. resident, acts as a Director of the Company. He is also aDirector of Pershing Square International, Ltd. and PS V International, Ltd. MrBotta is also the Investment Manager’s chief financial officer and worked ascontroller and then as chief financial officer of Gotham Partners from 2000-2003. From 1997-2000, Mr Botta was a senior auditor at Deloitte & Touche inits securities group. He was also a senior accountant from 1995-1997 forRichard A. Eisner & Co., LLP. Mr Botta received his Bachelor of Accountingfrom Bernard Baruch College in 1996. Mr Botta is a certified publicaccountant.Lord Kestenbaum, a U.K. resident, acts as an independent Director of theCompany. Lord Kestenbaum is currently the chief operating officer of RITCapital Partners plc and a member of its executive committee. He is also adirector of the company’s operating business, J Rothschild CapitalManagement. Lord Kestenbaum is a director of The Capital Holdings Fundsplc and a director of Windmill Hill Asset Management. He is a former chiefexecutive of the National Endowment for Science, Technology and the Arts(NESTA) and previously chief of staff to Sir Ronald Cohen, the chairman ofApax Partners. Lord Kestenbaum graduated from the London School ofEconomics before pursuing post graduate work at Cambridge University. Heearned a MBA with distinction from the Cass Business School, and is also agraduate of the Strategic Agility Programme at Harvard Business School. Hecompleted the cabinet office top management programme and is an adjunctprofessor at the Imperial College Business School. Jonathan Kestenbaum26 PERSHING SQUARE HOLDINGS, LTD.
Annual Report Year Ended December 31, 2014was created a life peer in November 2010 and became Lord Kestenbaum ofFoxcote in the county of Somerset. He was introduced in the House of Lordson January 26, 2011 and speaks in the Lords on Economic Affairs andInnovation. In December 2013, Lord Kestenbaum was appointed aschancellor of Plymouth University.William ScottMr Scott, a Guernsey resident, acts as an independent Director of theCompany. Mr Scott also currently serves as independent non-executivedirector of a number of investment companies and funds, of which AcenciADebt Strategies Limited and Invista European Real Estate Trust SICAF arelisted on the London Stock Exchange. He is also a director of SandbourneFund, and The Flight and Partners Recovery Fund Limited which are listed onthe Irish and Channel Islands Securities exchanges respectively in addition toa number of funds sponsored by Man Group which are listed on the ChannelIslands Securities Exchange (Absolute Alpha Fund PCC Limited, AHLStrategies PCC Limited, FRM Customised Diversified Fund Limited, FRMDiversified II Fund SPC, FRM Sigma Fund Limited and, MAN AHL DiversifiedPCC Limited). From 2003-2004, Mr Scott worked as senior vice president withFRM Investment Management Limited, which is now part of Man Group plc.Previously, Mr Scott was a director at Rea Brothers (which became part of theClose Brothers group in 1999) from 1989-2002 and assistant investmentmanager with the London Residuary Body Superannuation Scheme from1987-1989. Mr Scott graduated from the University of Edinburgh in 1982 andis a chartered accountant having qualified with Arthur Young (now E&Y) in1987. Mr Scott also holds the securities institute diploma and is a charteredfellow of the Chartered Institute for Securities & Investment. He is also achartered wealth manager.PERSHING SQUARE HOLDINGS, LTD. 27
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