Chairman of the Board William Hagerman

Mr. Hagerman joined CEDAR’s board of directors in 2002 and was appointed chairman in 2004. Mr. Hagerman is also a Director and senior vice-president at Dunavant Enterprises, Inc., in Memphis, Tennessee. Dunavant is the world’s largest privately owned cotton merchant. Since 2000, Mr. Hagerman has managed Dunavant’s portfolio of U.S. and international real estate investments. He also serves on Dunavant’s executive management board and risk management committee.

Prior to joining Dunavant, Mr. Hagerman was founder and president of ETI Corporation, a leading consulting engineering firm specializing in industrial waste management. Mr. Hagerman has founded and advises a number of companies in addition to CEDAR. He serves as chairman of the board of advisors for Herff College of Engineering, University of Memphis, where he earned both an MSCE and BSCE. In the United States, he is a registered professional engineer in 14 states and his professional status is recognized in several other countries.