The board of directors of American Ballet Theatre appointed Lewis S. Ranieri its Chairman yesterday at its annual meeting. He succeeds Gedalio Grinberg who has served as Chairman for the last 11 months and has been a board member for 16 years. Mr. Grinberg has been appointed Chairman Emeritus. Ms. Robin Neustein has been appointed President of the Board of Directors.

Mr. Ranieri is also a member of the board of The Metropolitan Opera. He is a founder of Hyperion Partners L.P. and Hyperion Partners II L.P., a leading capital management company specializing in real estate.

Ms. Neustein is Chairman of the Private Equity group and an Advisory Director of The Goldman Sachs Group, Inc., where she became a partner in 1990. She is a trustee of The Rockefeller University and Brown University and has been an ABT board member since 1997.

Mr. Ranieri had this to say, "Gerry Grinberg has done an amazing job guiding this magnificent dance company in a period of rejuvenation and growth. There are, of course, challenges ahead for us and not the least of which is further enhancing both our artistic brilliance and our highly successful education and outreach program, as well as sustaining our fiscal solidity.”

Mr. Grinberg remarked, "We have had a terrific run with ABT and my 16 years on the board has seen impressive artistic growth for the company. The ushering in of the era of Kevin McKenzie, our fabulous artistic director, has made my time at ABT a pleasure and has given the public tremendous performances. I move to emeritus status on the board with the satisfaction of knowing the company is in great shape and will flourish, I’m confident, under the leadership of Lew Ranieri."

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