8/14/2019 Gifford Letter

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DearFriends,

ItiswithverymixedemotionsthatIwriteyoutodaytotellyouthatIamwithdrawingmycandidacyfor

Ward6AldermanatLarge. IhavebeenrecruitedtoserveasPresidentandChiefExecutiveOfficerof

AIGGlobalRealEstate,abusinesswithover300employeesand$24billioninrealestateassetslocated

in50

countries.

Both

the

travel

requirements

and

the

overall

demands

of

this

assignment

will

make

it

impossibleformetoserveeffectivelyasanAldermananddevotethefocusanddiligencetothisrole

thatNewtonresidentsdeserve.

Earlierthissummer,whileworkinghardonmycampaign,Iwasapproachedaboutthisopportunity.

FollowingextensivemeetingswithAIGseniormanagement,consultantsandofficialsoftheFederal

ReserveBankofNewYork,myemploymentarrangementswiththeCompanywerefinalizedonJuly30th.

DuetoAIGdisclosurerequirements,Iwasunabletosharethisnewspubliclyuntiltoday,August7th,

whenthecompanymadeitsannouncement.

Thedecisiontowithdrawmycandidacywasdifficultforme. Iwasveryexcitedaboutsteppingupmy

civicinvolvement

and

serving

on

the

Board

of

Alderman.

However,

as

Yogi

Berra

once

said:

When

you

cometoaforkintheroad,takeit. Onbalance,whenIlookedattheopportunityforlearning,

challenge,personalandprofessionalgrowth,aswellastheopportunitytodopublicserviceby

maximizingtherecoveryofU.S.taxpayerdollars,itwashardtosayNo. Theteamthathasbeen

recruitedtoleadtheAIGrestructuringeffortistopnotchinallregards:intelligence,workethic,

competenceandcharacter. Thischancetojointheminsolvingcomplexinvestmentandorganizational

issueswasonethatIcouldnotpassup.

Iamgratifiedattheendorsements,volunteerassistanceandencouragementIhavereceivedformy

candidacy.Iwanttopersonallythankallofyouwhomadeafinancialcommitmenttomycampaign,and

letyou

know

that

Iwill

be

returning

all

of

your

contributions

over

the

coming

weeks.

ClaireandIlovelivinginNewtonandremainverycommittedtopublicservicehere. Claireiscurrently

ViceChairoftheSchoolCommitteeandisrunninginacontestedraceforreelectionthisNovember.

ShehasbeenatirelessandeffectiveadvocatefortheNewtonPublicSchoolsandIhopethatyouwill

supporthercandidacyforreelection. Asanengagedcitizen,Iwillcontinuetosupporttheinitiatives

andcandidatesthatadvancethefourkeyprioritiesofmycampaign:i)closingNewtonschronic

operatingdeficit,ii)repairingourbuildingsandinfrastructure,iii)revitalizingourvillagecentersand

commercialareas,andiv)rebuildingtrustinCitygovernment.

OncemytourofdutyatAIGiscomplete,Ilookforwardtoonceagainhavingtheopportunitytoplaya

moreactiveroleinNewtonscivicaffairs. Thankyouagainforyoursupport.

Allthebest,