OVERSIGHT BOARD WELCOMES APPOINTMENT OF NEW MEMBERS
Gonzalez and Rosa to be Reappointed; Ubiñas to be Appointed as New Member; Skeel Decided Not to Stand for Third Term
San Juan, PR – June 26, 2024 – The Financial Oversight and Management Board for Puerto Rico welcomes the announcement by President Joe Biden of his intention to reappoint Arthur J. Gonzalez and Dr. Betty A. Rosa, and the President’s intention to appoint Luis A. Ubiñas as a member of the Oversight Board.
Gonalez was first appointed to the Oversight Board at its initiation in 2016, Dr. Rosa was first appointed in December 2020. President Biden appointed Juan Sabater earlier this year. The Oversight Board’s Chair David Skeel informed Congress and the White House that he had decided not to stand for a third term.
“Serving on the Oversight Board to help Puerto Rico recover has been the most important work of my professional life,” Skeel said. “PROMESA has been an incredible opportunity for Puerto Rico, opening a legal path to reduce the debt and an opportunity, together with the Puerto Rico Government, to define and implement the reforms that provide stability and the foundation for growth and prosperity. When Senator McConnell nominated me and President Obama appointed me, I was honored to accept a three-year term. After nearly eight years on the Oversight Board, I decided it was time to step back.”
“I am delighted that President Biden reappointed Arthur and Betty, and I welcome the appointment of Luis. We are fortunate to have such an accomplished Educator as Betty, such a distinguished former judge as Arthur, and such a successful businessman and nonprofit leader as Luis on the board,” Skeel said.
- Luis Ubiñas has had a career across business, government, and the nonprofit sector. He served as President of the Ford Foundation, a senior partner at McKinsey & Company, and was appointed to both the Export-Import Bank and the International Trade Commission during the Obama-Biden Administration. Over the last several years, he has been an investor and advisor. Ubiñas is currently Chair of the Statue of Liberty-Ellis Island Foundation. He grew up in New York as the son of Puerto Rican parents.
- Arthur González is a Senior Fellow at New York University School of Law. Judge González served on the United States Bankruptcy Court for the Southern District of New York from 1995 to 2012, retiring as Chief Judge. During his tenure Judge Gonzalez presided over many large complex corporate reorganizations, including the Enron, WorldCom and Chrysler cases.
- Betty Rosa is the Commissioner of Education for the State of New York and the President of the University of the State of New York. Dr. Rosa, who is of Puerto Rican heritage, began her career as a teacher, became a senior superintendent of a New York school district, and Chancellor of the Board of Regents.
“I feel the Oversight Board is in good hands to continue our work, to complete our mandate, and to help create the opportunities the people of Puerto Rico deserve,” said Skeel. “Puerto Rico today is better off than in 2016, and I have no doubts we will continue to make progress to help Puerto Rico prosper.”