Nomination of Philip F. Johnson To Be a Commissioner of the Commodity Futures Trading Commission, and Designation as Chairman

The President today announced his intention to nominate Philip K Johnson to be Commissioner of the Commodity Futures Trading Commission. Upon confirmation the President intends to designate Mr. Johnson as Chairman for the term expiring April 13, 1984.

Mr. Johnson is a partner with the firm of Kirkland & Ellis of Chicago, Ill., where he has specialized in the Commodity Exchange Act and its regulations for 15 years. Mr. Johnson has been a speaker and a panelist at seminars and conferences on the Commodity Exchange Act sponsored by the Federal Bar Association, the Bureau of National Affairs, the American Law Institute, the Futures Industry Association, the Chicago Board of Trade, the American Bar Association, and other groups. He has served as a member of the Commodity Futures Trading Commission's Advisory Committee on the Definition and Regulation of Market Instruments and is a member of the CFTC Advisory Committee on State Jurisdiction and Responsibilities.

Mr. Johnson is a member of the governing council of the American Bar Association's Section of Corporation, Banking and Business Lave, the ABA's largest professional group, and has served as chairman of the ABA's Committee on Commodities Regulation since its creation in 1976.

Mr. Johnson has authored many articles on the Commodity Exchange Act. He serves as a member of the board of directors of the commodity industry's national trade association, the Futures Industry Association.

Mr. Johnson was graduated from Indiana University (A.B., 1959) and Yale Law School (LL.B., 1962). He resides in Chicago, Ill., and is 42 years old.