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Federal Trade Commission Chairman Robert Pitofsky today announced the resignation of Richard G. Parker, Director of the FTC's Bureau of Competition. Parker, who joined the Commission in February 1998 from the law firm O'Melveny and Myers, will leave the agency in January to return to private practice.

Pitofsky said, "The FTC's Bureau of Competition has prospered under the aggressive leadership of Rich Parker. Rich helped the Commission achieve significant victories for consumers in both the courtroom and at the negotiation table. We will miss his energy and his dedication to the public interest."

Pitofsky also announced he will ask Molly S. Boast, Deputy Director of the Bureau, to assume Parker's duties following his departure.

As Bureau Director since October, 1999, Parker has overseen historic efforts in litigation and enforcement. Over the past 15 months the Commission sought to enjoin five mergers in federal court, a near record, and simultaneously litigated three cases. In 12 other cases, transactions were abandoned when competitive concerns were raised, and an additional 25 mergers were resolved by consent agreements.

Key enforcement actions under Parker's stewardship include the investigations of the British Petroleum/Arco, Exxon/Mobil and America Online/Time Warner mergers. Parker also helped reinvigorate nonmerger enforcement (most recently in the case against Mylan pharmaceuticals, which brought an unprecedented $100 million in redress to consumers), bringing more than 15 enforcement actions involving critical pocketbook areas such as distribution restraints, pharmaceuticals and health care.

As Senior Deputy Director from February 1998 through October 1999, Parker led the Commission's successful challenge of two mergers in the drug wholesale industry, FTC v. Cardinal Health, as well as the Commission's successful challenge of anticompetitive conduct by Intel Corp.

Boast has been Senior Deputy Director of the Bureau since July 1999. She came to the Commission from private practice at the New York law firm of LeBoeuf Lamb, where she was a partner and Chair of the Litigation Department. In her work as Senior Deputy Director, she has had principal responsibility for the Commission's enforcement actions in the Exxon/Mobil and BP/Arco mergers. She is a member of the American Bar Association and a former member of the Council of the Section of Antitrust Law. She is also a Trustee of the Federal Bar Council and a member of the American Law Institute and the Association of the Bar of the City of New York.

Copies of FTC news releases, consumer education materials and other public documents are available from the FTC's web site at http://www.ftc.gov and also from the FTC's Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580; 877-FTC-HELP (877-382-4357); TDD for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.

MEDIA CONTACT:

Eric London

Office of Public Affairs

202-326-2180

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