RAYMOND G. MURPHY has been a director since 2009.

Mr. Murphy was formerly senior vice president and treasurer of Time Warner, Inc., responsible for all U.S. and international corporate finance, project (real estate and film) finance, cash management, foreign exchange and interest rate risk management, public debt and equity financing, real estate financing, securitization financing, banking relationships and financings, and relationships with rating agencies, as well as corporate wide real estate activities and the property/casualty risk management program. Prior to joining Time Warner, Mr. Murphy held a variety of executive leadership roles, including as senior vice president and treasurer at America Online, Inc., as senior vice president for finance and treasurer at Marriott International, Inc. He also held executive positions at Manor Care, Inc., Ryder System Inc. and W R Grace & Company.

Since 2005, Mr. Murphy has been a member of the finance committee of the Advertising Council Inc. and was the chair of the committee from 2007 until 2009. He became a member of the Board of Directors of the Advertising Council, Inc. in 2004 and served on its executive committee.

Mr. Murphy received a B.S. from Villanova University and an M.B.A. from Columbia University Graduate School of Business.