Mary Junck, Lee Enterprises chairman, president and chief executive officer, said Donovan's initial term will extend until the 2005 annual meeting of stockholders.
"Lee's board of directors provides strong corporate governance, so Nancy's strong background in marketing, finance and business makes her an outstanding fit," Junck said. "On top of that, she's a big fan of newspapers and understands our strengths and opportunities, as well as the unique and vital role we fill in the communities we serve. She's a great addition to our board, and we're delighted to gain her voice and insight."
Nancy is currently a partner in Circle Financial Group, LLC, in New York, a wealth advisory and private equity group for high net worth entrepreneurial women. She also is managing partner of Oakmont Partners, LLC, a private equity firm with a focus on early stage venture capital.
She previously held senior positions with Dean Witter and Morgan Stanley, where she was responsible for creating, designing and launching the Discover Card in 1986. From 1989 to 2001 she was president and chief operating officer of Morgan Stanley Credit Corporation in Riverwoods, Ill., restructuring it from a small auto financing operation into a full-service mortgage lender five times its original size, generating $5 billion in mortgages.
Earlier positions included serving as vice president for mergers and acquisitions at Dean Witter Reynolds, Inc., in New York from 1980 to 1982; senior vice president and director of corporate planning and new business at Dean Witter Financial Services, Inc., in New York, from 1982 to 1984; senior vice president and director of card marketing and merchant sales for Discover Card Services, Inc., in Riverwoods and New York, from 1984 to 1987; and executive vice president for marketing at Dean Witter, Discover & Company, New York, from 1987 to 1989. She began her financial career in 1975 at First Boston Corporation in New York, and from 1973 to 1974 served as a legislative assistant in the U.S. House of Representatives.
Among many industry honors, she received the American Financial Services Association Distinguished Service Award in 1995 and the Financial Women's Association Woman of the Year Award in 1997.
She graduated magna cum laude in 1971 with a degree in international affairs from Briarcliff College in New York, and graduated cum laude in 1973 from the Georgetown University School of Foreign Service in Washington., D.C. She received an MBA in 1979 from Columbia University in New York.
She is a member of the Lake Forest Hospital board of directors, the Lake Forest Health and Fitness Institute board of directors, and the Georgetown University board of regents.
Nancy is married and has two sons, ages 15 and 10. Her husband, David, runs the Private Wealth Division at Bank One. They reside in Lake Forest, Ill.
Lee Enterprises is based in Davenport, Iowa, and is the premier publisher of daily newspapers in midsize markets. Lee owns 38 daily newspapers and a joint interest in six others, along with associated online services. Lee also publishes more than 175 weekly newspapers, shoppers and classified and specialty publications. Lee stock is traded on the New York Stock Exchange under the symbol LEE. More information about Lee Enterprises is available at www.lee.net.