The First Presidency has appointed Rodney H. Brady president and chief executive officer of Deseret Management Corp., the holding company that oversees the commercial businesses owned by the Church.
Brother Brady, 63, currently serves as president and chief executive officer of Bonneville International Corp., the Church-owned broadcasting and communications company with media outlets nationwide. He will continue serving there until his replacement is named, according to the First Presidency.President Gordon B. Hinckley will serve as chairman of Deseret Management Corp. board of directors. His counselors, President Thomas S. Monson and President James E. Faust, will serve as board vice chairmen. Three members of the Quorum of the Twelve and the three members of the Presiding Bishopric also will serve on the board.
Elder Merrill J. Bateman of the Seventy, recently named president of BYU, has been serving as president of Deseret Management.
In a statement issued March 21, the First Presidency said:
"We are confident that the appointment of Rodney H. Brady - a skilled, experienced and successful executive - as president and chief executive officer of Deseret Management Corp. will strengthen the management of DMC as a holding company. We are also confident that he will effectively coordinate the activities of the commercial enterprises owned by the Church."
Deseret Management Corp. companies include AgReserves Inc., Agri Northwest Inc., Beneficial Development Co., Beneficial Life Insurance Co., Bonneville International Corp., Deseret Book Co., Deseret News Publishing Co., Farm Management Corp., Hawaii Reserves Inc. and Zions Securities Corp.
The First Presidency expressed gratitude to Brother Brady "for the long and effective leadership he has provided to Bonneville International Corporation during a period of monumental changes and challenges in the broadcast industry. He has successfully guided Bonneville through these challenging times by clarifying and emphasizing Bonneville's mission and core values and building a committed, talented and motivated team of executives and associates. We are pleased that Mr. Brady's analytical, motivational and leadership skills will be available to us at the DMC level."
Brother Brady is nationally known for his abilities as a business, educational and government executive. He has worked as a senior executive of major companies in the broadcasting, communications, pharmaceutical, aerospace and management-consulting industries. He also served for seven years as president of Weber State College, and in the early 1970s as assistant secretary for administration and management in the U.S. Department of Health, Education and Welfare.
Brother Brady also has served in board leadership positions for many corporations, industry associations and national and local civic and community organizations. He holds bachelor's and master's degrees from the University of Utah, and a doctorate in business administration from Harvard University.
