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4:25 p.m., Oct. 6, 2008----Lawrence (Larry) F. Probst III, a University of Delaware graduate and an internationally respected business leader known for his expertise in interactive media, entertainment and marketing, has been elected chairman of the board of directors of the U.S. Olympic Committee (USOC).
Probst, 58, was unanimously elected to the position for a four-year term during a USOC Board of Directors conference call Thursday, Oct. 2. He was named to the board as an independent director in September and it is anticipated he will assume duties as chairman during the 2008 U.S. Olympic Assembly in Orlando, Fla., to be held Oct. 8-12.
Probst is a 1972 graduate of the University of Delaware with a bachelor's degree in business administration.
"I am honored to have the opportunity to serve an organization and a movement that makes such a significant difference in our world today," Probst said. "This is a movement built upon the spirit and dedication of athletes, and the selfless commitment of volunteers. By working closely with my fellow board members, the USOC staff and the greater Olympic family in our country, my goal as chairman is to preserve and strengthen opportunities for all those who wish to participate in this important endeavor."
"As digital technology and advanced media increasingly shape the manner by which sport is marketed and consumed, we are extremely fortunate to welcome as our new chairman someone with the expertise and perspective that Larry brings," outgoing USOC Chairman Peter Ueberroth said. "Working with the board of directors and management team, I am confident Larry's proven business skills and experience will be invaluable as the USOC continues to shore up its revenue streams and expand the impact and reach of the Olympic Movement."
Probst is chairman of the board of directors of Electronic Arts (EA), the world's leading developer and publisher of interactive entertainment. Probst joined EA in 1984 and served as the vice president of sales until 1986, followed by four years as senior vice president of the company's publishing division.
He led EA as president from 1990 to 1997, and was named chief executive officer in 1991, serving in that capacity until 2007.
Probst has been a director of EA since 1991 and was elected to the position of chairman of the board in 1994.
Under Probst, EA navigated multiple technology transitions and made strategic investments in new platforms such as mobile, online and other emerging markets. During his tenure as CEO, the company grew its annual revenue from $175 million in 1992 to roughly $3 billion in 2006 and expanded international operations to more than 75 countries.
Ueberroth will continue his service to the USOC as president in an honorary capacity. He will focus primarily on the USOC's international relations efforts and cooperation with the International Olympic Committee. His new role will also focus on the USOC's partnership with Chicago 2016 and bringing the Olympic and Paralympic Games back to the United States.