The Asia Foundation Announces Ken Krug as Chief Financial Officer

San Francisco, May 16, 2011 — The Asia Foundation, a non-governmental international development organization working across 18 Asian countries, announced today the appointment of Ken Krug as its Chief Financial Officer effective June 1, 2011. With more than 30 years of experience working for non-profit organizations, Mr. Krug will oversee all aspects of finance and administration for The Asia Foundation.

Mr. Krug succeeds John Croizat, who is retiring after 13 years of service managing the organization’s diverse funding sources. In 2010, The Asia Foundation provided more than $98 million in program support and distributed nearly one million books and journals valued at over $42 million.

The Asia Foundation’s President David D. Arnold noted, “We are pleased to welcome Ken to our team of international development experts. I am impressed by his respected financial background and effective management skills.  He will no doubt help us uphold the integrity and discipline of our financial operations while building new processes and structures that support our close partnerships across Asia.”

Most recently, Mr. Krug held the position of Executive Vice President, Chief Operating, and Financial Officer for the Jewish Federation Council of Greater Los Angeles. At the Jewish Federation Council from 2007 to 2010, Mr. Krug was responsible for finance and administration, technology, regulatory compliance, human resources, legal, facilities, and international operations. With the economic downturn in 2008, he spearheaded efforts to reduce spending at the Federation by $6.5 million.

Prior to joining the Federation, Mr. Krug worked at the RAND Corporation, a nonprofit public policy research and analysis organization, for 30 years. As Corporate Treasurer, he successfully led a $130 million tax-exempt financing to fund RAND’s new headquarters in California; implemented a new enterprise-wide Oracle financial system for RAND; and sourced and executed an internal audit function at the corporation. Mr. Krug has an extensive international background, having helped launch and operate RAND’s European and Persian Gulf subsidiaries.

“Well aware of The Asia Foundation’s strong reputation and unconventional approach in a changing Asia, I am thrilled to join this passionate and committed team of professionals,” said Mr. Krug. “I look forward to working closely with our offices in San Francisco, Washington D.C., and country and development specialists on the ground in Asia on The Asia Foundation’s financial, administrative, and operational needs.”

Mr. Krug received his B.A. in History and Urban Studies from Columbia College in New York City and his M.B.A. with a concentration in Finance and Economics from Stanford University Graduate School of Business in Palo Alto.

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