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News release: Deseret Management Corporation CEO Mark Willes to retire, Keith B. McMullin to replace

Published: Thursday, April 5 2012 9:49 a.m. MDT

Salt Lake City, UTAH April 5, 2012 — Deseret Management Corporation (DMC), a for-profit arm of The Church of Jesus Christ of Latter-day Saints, today announced the retirement of Mark Willes and the appointment of Keith B. McMullin as incoming CEO.

Mark Willes took the reins of DMC in 2009 and oversaw the transformation of the organization, positioning DMC to become more competitive during the industry-wide shift to digital media consumption. The organization also implemented a vision, mission and values statement that included expanding the reach of DMC companies nationally and internationally.

"I join the entire board of directors in expressing our deep gratitude for Mark's leadership. His contributions to DMC and its business units are far reaching," said Keith B. McMullin. "We look forward to building on the vital groundwork he has laid with continued innovation."

Keith B. McMullin served as a member of DMC's board of directors for more than 15 years and was involved in shaping DMC's strategies as a member of the board, and its management committee. He brings more than three decades of experience in building international relationships. Until last weekend, he served as the second counselor in the presiding bishopric of The Church of Jesus Christ of Latter-day Saints. As a member of the presiding bishopric, he participated in the improvement of local communities, including the City Creek Center, humanitarian and relief efforts for people around the world, and the business operations of The Church of Jesus Christ of Latter-day Saints.

"As the influence of our companies continues to grow, I am confident that Keith's proven leadership qualities and unique ability to forge international connections will facilitate further expansion to audiences worldwide," said Mark Willes.

For more information about Deseret Management Corporation, visit www.deseretmanagement.com.

About Deseret Management Corporation

Deseret Management Corporation was organized in 1966 to manage some of the commercial companies affiliated with The Church of Jesus Christ of Latter-day Saints. Today, it owns and oversees hospitality, media and insurance companies, including the Deseret News, Deseret Digital Media, KSL Television & Radio, Bonneville Communications, Okespanol, Deseret Book, Temple Square Hospitality and Beneficial Life.

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