October 11, 2000 - Marakon Associates, an international strategy consulting firm that advises some of the world's largest and most admired companies, has announced changes in its leadership team.

Ken Favaro has been elected its new chief executive. He succeeds Peter Kontes, a co-founder of Marakon who served as CEO for five years.

Other promotions include M. Scott Gillis to managing partner for Marakon's East Coast region, based in New York; Paul Favaro to managing partner for the Midwest region, based in Chicago; Michael Mankins to managing partner for the West Coast region, based in San Francisco; and Herman Spruit to managing partner for the UK, based in London. Brian Burwell will continue as managing partner for worldwide operations.

The appointments mark the first time that the 22-year-old consultancy will be led by a non-founder. "This step is an important milestone in the history of our firm," said Kontes. "It reflects the great confidence we have in Ken and the new leadership team."

Favaro, formerly managing partner in charge of the UK, has been with the firm for 16 years. He has been located in London for the last 12 years and plans to relocate to Marakon's New York office in the middle of next year.

Marakon works with top management to develop corporate strategies and capabilities that maximize shareholder value. Many of its current and former clients rank among the world's best performing and most admired companies. They include BankAmerica Corporation, The Boeing Company, The Coca-Cola Company, The Dow Chemical Company, Nordstrom, Inc. and The Walt Disney Company in the US; and The Boots Company PLC, BP Amoco plc, Cadbury Schweppes plc and Lloyds TSB in the UK. Based in Stamford, Connecticut, the firm has additional offices in New York, Chicago, San Francisco and London.

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For further information, or to arrange an interview with a Marakon partner, please contact David Fondiller at (212) 377-5016.