Fusion Power Associates
2 Professional Drive, Suite 248
Gaithersburg, MD 20879
phone: (301) 258-0545
fax: (301) 975-9869
e-mail: FusionPwrAssoc@aol.com
web: http://fusionpower.org


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FPN04-78

New Energy Secretary Nominated

December 11, 2004

On December 10, President Bush announced his decision to nominate Dr. Samuel W. Bodman as the next Secretary of the U. S. Department of Energy. Dr. Bodman is currently Deputy Secretary of the Department of the Treasury. Dr. Bodman previously served as Deputy Secretary of the Department of Commerce, from 2001 to 2003.

Born in 1938 in Chicago, he graduated in 1961 with a B.S. in chemical engineering from Cornell University. In 1965, he completed his ScD at Massachusetts Institute of Technology. For the next six years he served as an Associate Professor of Chemical Engineering at MIT and began his work in the financial sector as Technical Director of the American Research and Development Corporation, a pioneer venture capital firm. He and his colleagues provided financial and managerial support to scores of new business enterprises located throughout the United States.

From there, Deputy Secretary Bodman went to Fidelity Venture Associates, a division of the Fidelity Investments. In 1983 he was named President and Chief Operating Officer of Fidelity Investments and a Director of the Fidelity Group of Mutual Funds. In 1987, he joined Cabot Corporation, a Boston-based Fortune 300 company with global business activities in specialty chemicals and materials, where he served as Chairman, CEO, and a Director. Over the years, he has been a Director of many other publicly owned corporations.

Dr. Bodman has also been active in public service. He is a former Director of M.I.T.'s School of Engineering Practice and a former member of the M.I.T. Commission on Education. He also served as a member of the Executive and Investment Committees at M.I.T., a member of the American Academy of Arts & Sciences, and a Trustee of the Isabella Stewart Gardner Museum and the New England Aquarium.

In nominating Dr. Bodman, President Bush said, "Sam Bodman has shown himself to be a problem solver who knows how to set goals and he knows how to reach them. He will bring to the Department of Energy a great talent of management and the precise thinking of an engineer."