MAIN NEWS HEADLINES
January 24 – January 31, 2008 Edition
Names Mick McGuire
to Board of Directors
ANN ARBOR, MI/1/18/08Borders Group, Inc. (NYSE: BGP) has announced that Richard Mick McGuire has been appointed to the companys Board of Directors, effective January 17. McGuire is a partner of Pershing Square Capital Management, L.P.
McGuire is the second new executive to join Borders' board within less than 60 days. Michael G. Archbold joined the company's Board of Directors, in December.
McGuire joined Pershing Square in 2005 and is one of five senior professionals responsible for managing approximately $6 billion in investor capital, a role that includes evaluating, initiating and monitoring investments across a wide range of industries including, among others, retail, consumer, business services and financial services. Prior to Pershing Square, he held positions at private equity funds J.H. Whitney & Co., and Stonington Partners, Inc. McGuire holds a masters degree in business administration (MBA) from Harvard Business School and a bachelors degree from Princeton University.
Mick brings substantial expertise, financial sophistication and fresh insights to the Borders Group Board, said Chief Executive Officer George Jones. We are pleased to welcome him and look forward to benefiting from his involvement. His addition, and our recent election of Mike Archbold, strengthen the Borders Group Board, reflecting our continued determination to pursue the best interests of our stockholders.
I am optimistic about the future of Borders and look forward to working with the Board and the management team as the company executes its strategic turnaround plan, McGuire said. The company has many near and long-term opportunities. The plan is a sound strategic roadmap and Im pleased to be part of a process designed to deliver value for all shareholders over the long-term.
Pershing Square Capital Management, L.P. owns approximately 18 percent of the common stock of Borders (excluding economic interests held through total return swap agreements).
About Borders Group, Inc.
Headquartered in Ann Arbor, Mich., Borders Group, Inc. is a $4.1 billion global retailer of books, music, movies, periodicals, and gift and stationery items. Through its subsidiaries, Borders Group employs more than 30,000 and operates over 1,100 stores worldwide primarily under the Borders(R) and Waldenbooks(R) brand names. Borders superstores carry up to 200,000 titles, and customers enjoy a comfortable shopping experience, as well as a host of popular events and community-centered activities when they visit their local Borders store. For more information about Borders Group, visit www.bordersgroupinc.com.