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FOR IMMEDIATE RELEASE: Wednesday, December 1, 2004

Passionate Arts, Community Philanthropist Ken Alhadeff Named 5th Avenue Board Chairman

New Officers and Members Named to The 5th Avenue Theatre's Board of Directors

SEATTLE — The 5th Avenue Theatre is proud to announce that former board President Ken Alhadeff took over as board Chairman on October 21, 2004. In addition three new officers were named and five new members joined the Board.

Under Alhadeff's leadership the Board plans to raise public awareness of The 5th Avenue Theatre's role as the region's premiere non-profit musical theatre company. In addition the Board will work to raise the necessary funds to meet the Seattle Foundation's challenge grant that was awarded earlier in 2004. Ken Alhadeff elaborated by saying, "The 5th Avenue Theatre is a vital piece of the greater Seattle community. I am honored to follow in the footsteps of the exceptional men and women who have led this magical theatre. As we secure the future of this Seattle treasure I am thrilled to continue the legacy my parents helped build as original founders of this wonderful theatre."

Ken Alhadeff has been a member of the Board of Directors since 2000 and represents the next generation of Alhadeff family members to contribute to both The 5th Avenue Theatre and Seattle's vibrant arts community.

A Seattle native, Ken Alhadeff, grew up in the Seward Park area, graduated from Franklin High School and continued his education at Washington State University. He is Chairman of Elttaes Enterprises and the Kenneth and Marleen Alhadeff Charitable Foundation, Presisdent and CEO of MiKen Properties and owner of the Majestic Bay Theatre in Ballard. He is a past President and current member of the Board of Regents for Washington State University and Board President of the Northwest School for Hearing-Impaired Children. He was a trustee of Cornish and has been inducted into Franklin High School's Hall of Fame. In addition he has received many awards over the last 30 years including Nordstrom's Cultural Diversity Award and The Alzheimer Association's Lasting Memory Award.

Norman B. Rice will take over as board president, William K. Blethen as treasurer, and Margaret Inouye as secretary. The theatre continues to increase its board size to accurately represent the current role the theatre plays in Seattle's arts community. As of October 21, 2004 the Board has grown to include 23 prominent business and arts community leaders. New board members include: Betsy A. Brooks, Gary J. Fuller, Stephen Koehler, Lonnie Pacelli and Sterling Wilson.

Norman B. Rice has served as president and CEO of the Federal Home Loan Bank of Seattle since 1999. From 1990 through 1997 Mr. Rice was Mayor of Seattle, president of the U.S. Conference of Mayors and a long-time city council member. Mr. Rice holds BA in communications and a Masters in public administration from the University of Washington as well as honorary doctorates from Seattle University, University of Puget Sound and Whitman College. Currently, Mr. Rice serves on the board of directors for the YMCA, Corporation for Supportive Housing, SAFECO Corporation and the Seattle Urban League. He is co-chair of the capital campaign for the University of Washington and YouthCare and Co-Chair of the United Way of King County's 2004-05 campaign.

William K. Blethen, Jr., a Seattle native, graduated from Lakeside High and received academic degrees from Stanford University and Dartmouth College. He is a Certified Public Accountant (CPA), has his Associate Degree in Risk Management (ARM), and is a Certified Treasury Professional (CTP). Mr. Blethen has served as the Treasurer and Corporate Risk Manager for the Seattle Times Company as well as a member of their Board of Directors. In addition, he has served as Trustee, Treasurer and President for The Seattle Times Fund for the Needy. Mr. Blethen is on the Board of Directors for Blethen Maine Newspapers, Yakima Herald-Republic and the Walla Walla Union-Bulletin. Previously he served on the Board of Trustees for the Center for Wooden Boats, The Steamer Virginia V Foundation, The Animal Care and Use Committee for The Fred Hutchinson Cancer Research Center.

Margaret Inouye, Partner at Preston, Gates & Ellis, LLP, is a corporate lawyer whose practice emphasizes mergers, acquisitions, and financings. Her practice also encompasses general corporate representations of publicly traded and privately held clients in various industries. She is a member of the ABA Business Section and the Asian Bar Association of Washington.

Betsy Brooks currently serves as Manager of Account Development for the Client Management/Establishment Services Division of the American Express Company. Responsibilities include managing large volume field-based accounts in Seattle and Boise, including Cutter & Buck, Onvia.Com, Consolidated Restaurants, MacKay Restaurant Group, and Cruise West. As a member of the American Express Pacific Northwest Client management team, Ms. Brooks represents the Western Region Employess ESAT/Diversity Team. She has held this position since November 2002. Ms. Brooks is a graduate of Iowa State University. Her management career also includes service with Procter & Gamble and Coca Cola.

Gary J. Fuller is the Vice President of Finance for Two Downtown, Ltd a Special Events Design and Interior Design company. Mr. Fuller joined Two Downtown, Ltd in 1998 and assumed his current position as Vice President of Finance in 2001. His current responsibilities include financial planning strategies, cost analysis and day-to-day financial operations for the 25-year old Seattle-based special events design firm. Mr. Fuller is a graduate of the University of Washington with a BA in Radio and Broadcasting. His affiliations include the Seattle Architectural Foundation, Seattle Theatre Group, ACT Theatre, Privacy Fund and Seattle Art Museum.

Steve Koehler is the President of Koehler & Company, a real estate development and management firm which incorporated in 1976. Notable projects include Elliott West, a three building, 300,000 SF high-technology office campus on Seattle's Northern waterfront; Westlake Center, a 460,000 SF urban, mixed-use project in Seattle's retail core; 110 Atrium Place, a 240,000 SF mid-rise office building in Bellevue's CBD; the rehabilitation of a 170,000 SF Safeway anchored neighborhood shopping center west of Tacoma; and two Class A suburban office buildings located in Seattle's Northgate market. Mr. Koehler received a Masters in Business Administration from Harvard ans a Bachelor of Science degree from the University of Washington. Mr. Koehler serves on the board of the Downtown Seattle Association (DSA) and is a past board member of BOMA. He is currently on the Advisory Council at the U of W Runstad Center for Real Estate Studies, and an Instructor, Certificate Program in Commercial Real Estate.

Lonnie Pacelli has over 20 years experience in projects as a project manager, developer, tester, analyst, trainer, consultant, and business owner. He has successfully implemented projects ranging from complex IT systems to process re-engineering to business strategies. During his 11 years at Accenture he consulted with many Fortune 500 companies including Motorola, Hughes Electronics, and Northrop-Grumman. During his nine years at Microsoft he headed up development of some of Microsoft's internal systems, led their Corporate Procurement group, managed their Corporate Planning group, and led company-wide initiatives on Continuous Fiscal Improvement and Training Process Optimization. He is also a co-owner in delBistro, a prepared entrees delivered-to-your-door service. His experience as a consultant, project manager, and business owner give him a unique perspective into managing successful projects.

Sterling Wilson is currently the Chief Operating Officer and a member of the Board of Directors of Qpass, Inc., a market leading mobile commerce infrastructure company. At Qpass, he is responsible for product development, product marketing, professional services and operations, finance and human resources. Prior to Qpass, he spent six-year as Chief Financial Officer and Executive Vice President of Operations at Concur, where he help grow the company from five employees to over 550 and led its IPO and secondary offerings. Sterling also served as Chief Financial Officer and Vice President of Operations at IntelliQuest, Inc., and as Chief Financial Officer at Contact Software International. Mr. Wilson holds a BBA in Accounting from California State University.

The 5th Avenue Theatre is Seattle's premier musical theater company. Unique in its Chinese-inspired design, the exquisite theatre opened in 1926 as a venue for vaudeville and film, and has provided entertainment to Northwest audiences for over 75 years. The resident 5th Avenue Musical Theater Company, established in 1989, is a non-profit organization dedicated to producing and presenting live musical theater for the cultural enrichment of the community. With its 24,000 season subscribers, it ranks among the nation's largest and most respected musical theatre companies. Under the leadership of managing director Marilynn Sheldon and producing artistic director David Armstrong, The 5th Avenue Theatre continues to achieve the highest standards in all aspects of artistic endeavors and facility operations, while preserving its unique artistic, architectural and historic legacy.

Board Member Photos are available upon request.