October 22, 2013
Honorable Members of the City Council
clo City Clerk City Hall, Room 395 Honorable Members: Subject to your confirmation, I have appointed Mr. Edward R. Renwick to the Board of Harbor Commissioners for the term ending June 30, 2017. Mr. Renwick will fill the vacancy created by Doug Krause, whom I removed effective November 30, 2013 or at the time Mr. Krause's successor is confirmed by the City Council. I certify that in my opinion Mr. Renwick is qualified for the work that will devolve upon him, and that I make the appointment solely in the interest of the City. Sincerely,
L t;-ff-' ERIC GARCETTI Mayor EG:dlg Attachment
200 N. SPRING STREET, ROOM 303 LOS ANGELES, CA 90012 MAYOR.LACITY.ORG
COMMISSION APPOINTMENT FORM Name: Commission: End of Term:
Edward R. Renwick Board of Harbor Commissioners June 30, 2017
Appointee Information 1. Race/ethnicity:
2. Gender: Male 3. Council district and neighborhood of residence: 11 - West Los Angeles 4. Are you a registered voter? Yes 5. Prior commission experience: 6. Highest level of education completed: JD, Harvard Law School; MPP, Harvard Kennedy School 7. Occupation/profession:
Partner, The Yucaipa Companies
8. Experience(s) that qualifies person for appointment:
See attached resume
9. Purpose of this appointment: Replacement 10. Current composition of the commission (excluding appointee):
Appointment Date 28-Sep-10
Krause, DOUQ Pirozzi, Anthony
Harbor West Los Anoeles Harbor
Sohn, SunQ Won
Caucasian Caucasian Asian Pacific Islander
Commissioner Arian, Alan David Castellanos, Patricia
Term Ends 30-Jun-14
EDWARD RAINEY RENWICK The Yucaipa Companies, LLC
Ed Renwick joined The Yucaipa Companies ("Yucaipa"), a $5 billion private equity fund in 1999 and was made a partner in 2000. At Yucaipa, Ed leads deal teams that oversee all aspects of the transaction process including deal sourcing, structuring and negotiation as well as portfolio company monitoring and exiting. Beginning in 2007, Ed became the CEO of Yucaipa's Global Fund, a $500 million private equity fund investing primarily in Greater China, Korea and India. In addition, to his work at Yucaipa, Ed co-founded and serves as CEO of Raineth Holdings, a $40 million real estate investment fund which has acquired and leased over 600 homes in the U.S. Midwest. Prior to joining Yucaipa, Ed was a consultant at The Boston Consulting Group ("BCG") where he was responsible for providing strategic and operational assistance to Fortune 500 companies. Prior to BCG, Ed was the Senior Vice President of Business Development at the Chongqing Wanli Storage Battery Company in Chongqing, China. Ed also worked as an analyst in the real estate investment banking division of Goldman Sachs. Ed serves/served as a Director of Current TV (a cable network in the US, UK and Italy), Delltrade (a UK and US jewelry brand and retailer) and EasyBill (a transaction processor in India). Ed is a member of the California Bar Association and received a BA in history from Stanford University, a JD from Harvard Law School and a Masters of Public Policy from Harvard's Kennedy School of Government. Ed is a member of the Bel Air Chapter of Young Presidents' Organization and serves an Advisory Board Member of Children Now, the leading advocate for child welfare in California. Ed lectures regularly on business strategy and M&A at Stanford University and U.C.L.A.
EDWARD RAINEY RENWICK
EXPERIENCE RAINETH HOUSING Los Angeles, CA; Chief Executive Officer and Chief Financial Officer
CEO and CFO of $40 million real estate private equity firm that acquires, rehabs, leases and manages single family homes in the Midwest United States. Raineth currently owns over 700 houses in St. Louis, Cincinnati and Kansas City and is acquiring over 75 houses per month. The firm acquires distressed homes in decent, working class neighborhoods and rents them at an affordable price to lower income, predominately single parent families with children providing these families with an attractive home in a safe neighborhood with decent schools.
THE YUCAIPA COMPANIES, LLC Los Angeles, CA, Partner; Chief Executive Officer of Global Fund Consultant
Partner in $5 billion private equity firm with a 20+ year history of investing in retail, logistics, distribution and media companies. The Firm has completed $30+ billion of transactions and has earned a 40+% IRK Chief Executive Office of $400+ million subsidiary fund targeting non-US investments. • Ledfundraising efforts for firm's first closed-endedfund. Historically, Yucaipa raised money on a deal-by-deal basis. In 2001, Yucaipa made the strategic decision to raise money on a fund basis, and I was asked to lead this effort. We raised $1.3 billion from some of the largest and most prestigious U.S. institutional investors. • Identified opportunity to leverage Yucaipa's domestic retail, logistics and media expertise into international fund. Raised $400+ million to invest primarily in Asia and serve as that fund's CEO. Developed and executed strategy to identify and acquire attractive companies in our core industry sectors. Lead teams of accountants, analysts, attorneys and consultants performing extensive due diligence and designing post-acquisition strategy. Responsible for negotiating and closing transaction. • Monitor and enhance portfolio companies by working closely with management. Constantly evaluate companies and their management making periodic decisions to further invest, sell or replace management. Responsible for ensuring effective execution. Serve as active board member guiding management of portfolio companies in setting and implementing strategy. Active in day-to-day operational tasks including creating marketing strategies, hiring management and negotiating with vendors.
EDWARD RAINEY RENWICK Resume, Page 2 THE BOSTON CONSULTING Los Angeles, CA, Consultant
1994 (Intern), 1996-98 Redesigned strategic planning process for major aerospace firm enabling client to compete in consolidated defense industry. Led client team of fonr middle and senior managers. Restructured pricing mechanism and executive compensation system for premier $1 billion+ financial services firm. Developed pricing, revenue and profit model for client's 50+ products and services in 150+ countries. Determined that existing pricing undermined client's growth strategy and implemented restructured mechanism. Determined existing compensation system rewarded counterproductive behavior and aligned compensation with client's key profit drivers. Reengineered production processes and compensation system for Fortune 500 industrial manufacturer. Cut aunual production costs by more than $28 million. Served as senior onsite consultant leading fonr, eight-member client teams and managed junior consultant. Provided financial modeling, statistical, management accounting and process reengineering expertise. Conceived, designed and assisted implementation of client's first incentive system for hourly employees. Helped launch BCG Los Angeles's successful drive into consumer products and retail consulting.
WANLI STORAGE BATTERY CO. Chongqing, China, VP of Strategy and Business Development
Advised CEO of China's third largest producer of car batteries, the only non-Chinese
employee in company history. Determined drivers of financial losses through extensive statistical, management accounting and operational analysis. Developed two-pronged strategy to improve profits. First, conceived and spearheaded successful effort to cut material costs through nationwide used-battery collection and recycling program. Second, led effort to identify and recruit foreign joint-venture partners. Represented Wanli. Persuaded China's equivalent of the SEC to reverse previous position and allow Wanli to make secondary stock offering on Shanghai stock exchange. Also represented company to major customers - Chinese automobile manufactnrers.
GOLDMAN, SACHS & CO. Los Angeles, CA, Financial Analyst
Financial Analyst on complex real estate transactions in the international debt, equity and leasing markets with total asset value exceeding $1 billion. Transactions included the sale of two premier office buildings and one hotel, the financing of two major shopping malls, and the sale of a $400 million real estate portfolio. Created solicitation presentations, transaction structures, in-depth financial projections, qualitative market analyses and offering memoranda. Designed financing, pricing, marketing and negotiation strategies.
EDWARD RAINEY RENWICK Resume, Page 3
CUSHMAN REALTY CORPORATION Market Analyst, Los Angeles,CA •
Researched and wrote marketing reports empowering businesses to make informed decisions in the leasing, sales, management and development of commercial properties. Met with clients and experienced brokers to assess options.
EDUCATION HARVARD LAW SCHOOL Cambridge, MA, JD (cum laude)
Focus: International Law. Honors: Received the nationally competitive Henry Luce Foundation Fellowship.
HARVARD KENNEDY SCHOOL Cambridge, MA, Masters of Public Policy (MPP)
Focus: International Relations. Honors: Received the Kennedy Fellowship, the Kennedy School's only merit scholarship.
STANFORD UNIVERSITY Palo Alto, CA, BA
Major: History. Honors: Graduated with Stanford's two highest academic awards (graduating with honors and with distinction).
OTHER Married with three daughters (ages 7, 6 and 2). Member of the California State Bar Association, Young Presidents' Organization, Advisory Board of Children NOW, MENSA, The Academy of Political Science, The American Finance Association and The American Economic Association. Conversational Mandarin. Lectures regularly at Stanford and UCLA on business strategy and M&A.
October 22, 2013
Mr. Edward R. Renwick
Dear Mr. Renwick: I am pleased to inform you that I hereby appoint you to the Board of Harbor Commissioners for the term ending June 30, 2017. In order to complete the process as quickly as possible, there are several steps that must be taken, many of which require visiting City Hall. If you require parking during these procedures, please call Caesar Cereceres in my Office at (213) 473-2387 to make arrangements for you. To begin the appointment process, please review, sign and return the enclosed Remuneration Form, Undated Separation Forms, Background Check Release and Information Sheet within one week of receiving this letter. These documents are necessary to ensuring the most efficient, open and accountable City government possible. Further, Mayor's Office policy requires you to be fingerprinted as part of the background check that is done on all potential Commissioners. To do so, please bring this letter to the Background Unit of Employment Services Division, Personnel Department Building, 700 East Temple Street, Room 235, Los Angeles, California 90012. The division phone number is (213) 473-9343. Fingerprints must be taken within three working days from the receipt of this letter. Under separate cover you will be receiving a packet from the City Ethics Commission containing information about the City's conflict of interest laws and a copy of the State Form 700/Statement of Economic Interests. You ate required to complete and return this form within 21 days of your nomination to the City Ethics Commission, 200 North Spring Street, City Hall, 24th Floor, Los Angeles, California 90012. Any inquiries regarding this form should be directed to Shannon Prior at the Ethics Commission at (213) 978-1960.
200 N. SPRING STREET, ROOM 303 LOS ANGELES, CA 90012 (213) 978-0600
Mr. Edward R. Renwick October 22,2013 Page 2 As part of the City Council confirmation process, you will need to meet with Mike Bonin, your Councilmember, and Councilmember Tom LaBonge, the Chair of the Trade, Commerce and Tourism Committee, to answer any questions they may have. You will be hearing from a City Council committee clerk who will let you know when your appointment will be considered by the Trade, Commerce and Tourism Committee. Some time thereafter, you will be notified by the committee clerk when your appointment will be presented to the full City Council for confirmation. Once you are confirmed, you will be required to take the oath of office in the City Clerk's Office in Room 395 of City Hall.: Julie Ciardullo with the Mayor's staff will assist you during the confirmation process if you have questions. Commissioners must be residents of the City of Los Angeles. If you move at any point during your term, have any changes in your telephone numbers, or in the future plan to resign (resignation must be put in writing), please contact my office immediately. Congratulations and thank you for agreeing to serve the people of Los Angeles. Sincerely,
L, t;--fI-~ ERIC GARCETTI Mayor EG:dlg
Attachment I Mr. Edward R. Renwick October 22,2013 Nominee Check List I.
Within three days: __
Get fingerprinted to complete a background check. No appointment is necessary. Bring the Mayor's letter to: Background Unit of Employment Services Division, Personnel Department Building, 700 East Temple Street, Room 235, Los Angeles, California 90012. Phone: (213) 473-9343.
Within seven days: Mail, fax or email the following forms to: Julie Ciardullo, Office of the Mayor, Office of External Affairs, City Hall, 200 N. Spring Street, Los Angeles, CA 90012 or fax: 213-978-0719 or email: [email protected]
Undated Separation Forms
Background Check Release
Within 21 days: File the following forms with the City Ethics Commission. If you are required to file, you will receive these forms in the mail from that office.
Statement of Economic Interest ("Form 700") IMPORTANT: The City Council will not consider your nomination until your completed form is reviewed by the Ethics Commission.
Residence Verification Form
As soon as possible, the Mayor's Office will schedule a meeting with you and: __
Your City Councilmember Mike Bonin (contact at 213-473-7011).
Councilmember Tom LaBonge, Chair of the Council Committee considering your nomination (contact at 213-473-7004).
Staff in the Mayor's Office of External Affairs will assist you with these arrangements.