Eric Holoman Named New President Johnson Development Corporation

Earvin "Magic" Johnson, Chairman of Johnson Development Corporation has named Eric L. Holoman to the role of president effective immediately.

As president, Mr. Holoman will manage and direct the corporation's day-to-day operations including strategy, finance and business development. He will also expand the company's capital markets presence and oversee the organization's prestigious partnerships with Burger King Corporation, Canyon-Johnson Urban Fund, L.P., T.G.I.Friday's, Starbucks Coffee Company and Washington Mutual Home Loan Centers.

"We are very pleased that Eric Holoman will be joining Johnson Development Corporation as its president," said Earvin Johnson Jr., Chairman. "Eric brings with him a wealth of experience in business, finance and banking. He also has an extensive background in leading large, diverse organizations. His versatility and knowledge will serve him well as he leads the corporation forward, helping to shape important decisions related to urban investment and development."

Prior to joining Johnson Development Corporation, Mr. Holoman served as president of Holoman Food Services, Inc., overseeing the operation of multiunit fast food franchises in inner-city Los Angeles.
He later worked for Bank of America, first as a senior investment specialist and later as vice president of high net worth sales for the private bank. He went on to become senior vice president and regional sales manager of Wells Fargo Bank's Private Client Services Division and concluded his career at Wells Fargo as head of the private mortgage bank in Los Angeles.

Mr. Holoman was appointed to the Los Angeles City Employees'
Retirement System (LACERS) by Mayor Antonio Villaraigosa and currently serves as its President. He also holds several professional designations and licenses with the National Association of Securities Dealers (NASD). Mr. Holoman has a degree in Finance from the University of Southern California.

Source: Magic Johnson Enterprises