Southern Ute Indian Tribal Council confirmed the hiring of two new directors of the Tribe’s Growth Fund, the investment and diversification arm of the Tribe. The new directors, Albert Brown and Patrick Vaughn, will assume operations responsibilities for energy and non-energy businesses within the Growth Fund’s portfolio of companies, amid the retirement of longtime Operating Director, Bob Zahradnik. They will also join the Growth Fund Management Committee that has overseen the development of the Growth Fund since its inception in 2000.

The Growth Fund’s successful expansion into offshore energy investments and diverse real estate holdings led the Tribal Council to replace the position being vacated by Bob Zahradnik with two new positions, “Growth Fund Operating Director – Energy” and “Growth Fund Operating Director – Non-Energy.”

Albert Brown, who currently serves as President and Chief Operating Officer of Red Willow Production Company and its affiliates, will now become the Operating Director – Energy. The Energy Director will supervise energy-related Growth Fund activities and investments. Brown, who has been involved with the Growth Fund since 2004, previously served as Assistant to the Operating Director and as President of Red Cedar Gathering Company, a gas gathering and treating company operating within the Southern Ute Indian Reservation.

The new Operating Director – Non-Energy will be Patrick S. Vaughn, who has been with the Growth Fund since 2003 and currently serves as President and Chief Operating Officer of GF Properties Group, LLC. Vaughn has been instrumental in the development of Three Springs, a large, mixed-used project in Durango and in many other Growth Fund projects throughout the country. The Non-Energy Director will have primary responsibility and oversight of the non-energy investments and operational activities of the Growth Fund.

Tribal Chairman Clement J. Frost stated, “We are pleased to announce these management changes, which are part of the Growth Fund’s ongoing succession planning process.” He added, “The talent and experience of Albert and Patrick will enable us to move successfully into the future.”