Margaret Keane, executive chair of the Board of Directors of Stamford”™s Synchrony, is the new co-chair of AdvanceCT, the state government”™s economic development entity.
Along with Jeff Sonnenfeld, senior dean for Leadership Studies at the Yale School of Management, she will replace Indra Nooyi and James Smith, who are stepping down as co-chairs after nearly three years of serving the state. Nooyi and Smith will remain AdvanceCT directors.
“Jim Smith and Indra Nooyi have stepped up to help usher in a new era of prosperity in Connecticut,” Gov. Ned Lamont remarked. “Our state is fortunate to have them as friends who only want to see our residents, businesses, and communities succeed.
“From assisting the state with the challenge of reopening from the Covid-19 crisis, to helping the state develop an economic development plan for the future, their work has made a difference and helped bring new corporate investment to our cities and towns,” Lamont added.
“Their leadership, counsel and hands-on engagement have been invaluable and an inspiration to all of us,” added AdvanceCT President and CEO Peter Denious. “Their continued service on the Board will allow for a seamless leadership transition.”
Highlights of Smith and Nooyi”™s tenure include repurposing, reorganizing and strengthening AdvanceCT to realize the governor”™s aim of establishing a private, market-facing business development organization working in partnership with the state to actively engage, retain, expand and attract businesses to Connecticut.
Nooyi also served as co-chair of the Reopen Connecticut Covid task force, of which Smith was a member.
The pair also helped to craft the Economic Action Plan developed in partnership with David Lehman and Glendowlyn Thames of the Department of Economic and Community Development, along with representatives of more than 50 statewide private sector organizations. That plan eventually became a central component of the Governor”™s American Rescue Plan Act spending strategy.
Keane is one of just four women in the U.S. to lead a major financial institution. From April 2011 to April 2021, she was CEO of Synchrony, overseeing the company”™s IPO in 2014, and subsequent separation from GE. She was named executive chair of Synchrony”™s Board of Directors earlier this year.
AdvanceCT has also elected Judy Marks, president & CEO, Otis Worldwide Corp., and Deepak Mishra, president, Americas Region, Philip Morris International, as members and directors.
