Chamber Elects Don Shepard Chair

 

Donald J. Shepard, who was elected U.S. Chamber chairman on June 11, 2008, has never been one to back down from a challenge--not growing up as the son of a police officer in Cedar Rapids, Iowa, and not as a leader of a global insurance company.

 

"Don is a competitor. He likes to win whether it's business or hunting," says J. Steven Hart, chairman and CEO of the Washington, D.C., law firm of Williams & Jensen.

 

U.S. Chamber President and CEO Tom Donohue agrees. "No matter who the challenger--trial lawyers, anti-globalists, or government regulators--Don fights for business because he believes in the good it does for our societies."

 

Shepard's competitive nature is balanced by humility and goodness, adds Donohue. "Don is quick to help other folks, and he doesn't take himself too seriously."

 

Shepard started his career in 1970 with Life Investors, Inc., a Dutch-owned company that would later become part of the Dutch life insurance giant AEGON N.V., one of the largest insurance companies in the world. He eventually became chairman and chief executive officer of AEGON's United States unit, which under his leadership experienced a tremendous growth spurt, acquiring such large insurance firms as Providian, Transamerica, and Monumental Life.

 

Shepard's success did not go unnoticed in the Netherlands. In 2002, he was appointed chairman of the Executive Board and chief executive officer of AEGON, becoming the first American CEO of a major European financial services company. In April 2008, Shepard stepped down from those roles in keeping with the mandatory retirement age for AEGON Executive Board members. However, he remains chairman of AEGON USA, which accounts for a majority of the parent company's earnings.

 

Throughout his career, Shepard has given his time freely to advance the interests of the larger business community. In the late 1990s, he helped the Chamber dramatically improve its financial situation, serving as the organization's treasurer for three years, ending in 2003. The Chamber has tripled its revenues since 1997. "He's on the short list of people who really stepped up when the going was tough," Donohue recalls.

 

Shepard, one of the architects of the Chamber's Institute for Legal Reform, intends to continue his work against lawsuit abuse as Chamber chairman. "It's a mistake to quantify lawsuit abuse simply by the number of lawsuits that are filed," he says. "The cost of frivolous and abusive lawsuits negatively impacts business expansion and formation."

 

Steve Bartlett, president and CEO of The Financial Services Roundtable, of which Shepard is a past chairman, says that Shepard's lobbying of a key senator broke the logjam on class action reform legislation in 2005. "He's got a certain charm about him," Bartlett says. "He's got a sweet smile but also sharp teeth. He's kind, caring, and grateful, but he expects results."

 

Shepard is also a vocal spokesman for fair trade. Having spent a career working for a foreign-owned company with operations in numerous countries, Shepard brings a unique perspective of American competitiveness. "The United States can continue to lead the world in entrepreneurship and productivity as long as the global playing field is level," he says.

 

Shepard serves on the boards of PNC Financial Services Group, Inc., and the CSX Corporation and is a trustee of Johns Hopkins University. He and his wife, Rosie, have two children and three grandchildren.