Vanguard just added a non-fundster to its board. On Thursday the Valley Forge, Pennsylvania-based mutual fund firm revealed that Joe Loughrey is Vanguard's latest director.

Loughrey previously served as president and chief operating officer at Cummins, a manufacturer that specializes in diesel engines.

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Company Press Release

VALLEY FORGE, PA, October 1, 2009 – F. Joseph Loughrey has been named to the board of directors of The Vanguard Group and to the board of trustees of each of Vanguard’s mutual funds.

Mr. Loughrey is the former president and chief operating officer of Cummins Inc., where he held a variety of positions during his 35-year career. He stepped down as vice chairman of the board of directors for Cummins in April 2009.

“Joe Loughrey is a terrific addition to the boards of Vanguard and our funds. Shareholders will be well served by his experience, values, and perspective,” said Vanguard Chairman John J. Brennan.

Mr. Loughrey is active in the business community and serves as a director on a number of boards, including Sauer-Danfoss Inc., Hillenbrand, Inc., AB SKF, The Lumina Foundation for Education, and the Columbus Community Education Coalition.

He chairs two Indiana statewide initiatives—Conexus Indiana and the Energy Systems Network. In addition, he is chairman of the Advisory Council for the College of Arts & Letters and a member of the Kellogg Institute for International Studies Advisory Board at the University of Notre Dame.

Mr. Loughrey earned a B.S. in Economics and African Studies from the University of Notre Dame in 1971.

In addition to Mr. Brennan, Vanguard’s board includes F. William McNabb III, Charles D. Ellis, Emerson U. Fullwood, Rajiv L. Gupta, Amy Gutmann, JoAnn Heffernan Heisen, André F. Perold, Alfred M. Rankin, Jr., and Peter F. Volanakis.

About Vanguard

Vanguard, headquartered in Valley Forge, Pennsylvania, is one of the world’s largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages more than $1.24 trillion in U.S. mutual fund assets, including nearly $490 billion in retirement assets. Vanguard offers more than 150 funds to U.S. investors and more than 50 additional funds in non-U.S. markets. 

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