Dr. Barry Munitz Steps Down as President and CEO of J. Paul Getty Trust

LOS ANGELES--(BUSINESS WIRE)--Feb. 9, 2006--The Board of Trustees of the J. Paul Getty Trust announced today that Dr. Barry Munitz, President and CEO for the past eight years, has decided to resign, effective immediately.

In his letter, Dr. Munitz said that with the Getty's vision and strategic priorities clarified and supported, a new museum director in place, the Getty Villa reopened after an eight-year period, the Trust endowment in solid financial shape and talks underway to resolve issues surrounding the Getty's antiquities collection, his work at the Getty was complete.

“Presiding over the Getty has been challenging, exciting and at times difficult. But, throughout my tenure at the Getty, I've constantly been sustained by the brilliance and commitment of the people I've had the honor to work with”

"Presiding over the Getty has been challenging, exciting and at times difficult. But, throughout my tenure at the Getty, I've constantly been sustained by the brilliance and commitment of the people I've had the honor to work with," said Dr. Munitz.

He continued, "I will always be proud of my association with the Getty. I'm taking this action, after lengthy consideration, so both the institution and I can move forward."

Before joining the Getty, Dr. Munitz had been Chancellor of the California State University system, and he said he now plans to increase his commitment to new educational opportunities. In 2004, Dr. Munitz was named Chairman of California's new P-16 Education Council, which is tasked with advising the State Superintendent of Public Education on the articulation and coordination of educational reform from pre-school through college.

"Barry Munitz joined the Getty as CEO at a critical time. The Getty Center had just opened and Barry worked diligently to define our strategic priorities and expand collaboration among the Getty's four program areas. We wish him well in his new endeavor," said John Biggs, Chairman of the Board.

By resigning, Dr. Munitz acknowledged he would not receive a severance package. He will, without admitting any wrongdoing, pay the Getty Trust $250,000 in order to resolve any continuing disputes with him.

The Board plans to explore a full range of options as it considers Dr. Munitz's successor. Mr. Biggs said Dr. Deborah Marrow, Director of the Getty Foundation, has been asked to serve as interim President and CEO of the J. Paul Getty Trust.

Dr. Marrow, an art historian, joined the Getty in 1983 to launch a publications program that underwrote and published scholarly works on art history. She has served as director of the Grant Program, interim director of the Getty Research Institute and dean for external relations of the Getty Trust. Dr. Marrow currently serves as a trustee of the University of Pennsylvania, where she is a member of the executive committee and chairs the academic policy committee, among other responsibilities.