Schwab Elected Trustees’ Chairman

Nelson Schwab III ’67, co-founder of the Charlotte-based merchant banking firm Carousel Capital, will chair the UNC Board of Trustees for the next year, and Jean Almand Kitchin ’70 of Scotland Neck and Rusty Carter ’71 of Wilmington will serve as vice chair and secretary, respectively. The three were elected in late July by the 13-member Board of Trustees, which is responsible for governing the University.

Schwab was appointed to the board in 2001 and reappointed to a term ending in 2009. He succeeds Richard “Stick” Williams ’75 of Charlotte, the board’s chairman since 2003, who continues on the board until 2007.

Schwab identified five priority areas for the board in the year ahead: a continued focus on a high quality undergraduate experience, faculty retention, research competitiveness, athletic excellence and the funding model to support a great research university.

Schwab has served on the boards of visitors for both the University and Kenan-Flagler Business School. He also serves on the Carolina First Steering Committee. On the Board of Trustees, he has served as chair of the audit and finance committee, which oversees budget and finance administration and makes tuition recommendations to the board.

Kitchin is president and CEO of Almand’s Drug Stores in Rocky Mount. She has served as the board’s secretary and is the current chair of the General Alumni Association’s Board of Directors. She joined the board in 1999; her term ends in 2007. She serves on the Board of Trustees’ university affairs committee, which overseas issues related to academic programs, personnel, admissions and student financial aid, student services and student life and intercollegiate athletics.

Carter is president of Atlantic Corp., a paper and packaging distribution company. He was appointed to the board in 2001. His current term runs until 2009, and he has served on the trustees’ university affairs committee and audit and finance committee. He also is a member of the School of Journalism and Mass Communication’s Board of Visitors and has served on the Carolina First Campaign’s Steering Committee.

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