For immediate release: August 7, 2018
Timothy P. Cost, president of Jacksonville University, has been appointed to the board of directors of the Federal Reserve Bank of Atlanta's Jacksonville Branch. Cost’s term began July 23, 2018, and runs through December 31, 2018. He is filling an unexpired term.
Cost has served in his current position at Jacksonville University since 2013. Before joining Jacksonville University, he served as executive vice president of global corporate affairs for PepsiCo Inc. from 2010 to 2013, chairman of global health care and executive vice president at APCO Worldwide Inc. in 2010, and senior vice president of corporate affairs at Wyeth LLC from 2007 to 2009. During his career, Cost also served as executive vice president of corporate affairs at Aramark Corporation, senior vice president of corporate affairs at Pharmacia, vice president of investor relations and corporate intelligence at Bristol-Myers Squibb, senior vice president of strategic operation at Centocor, and in various management positions at Eastman Kodak Company.
Cost serves as chairman of the boards of the Jacksonville Civic Council and JAXUSA Partnership, and he is vice chair of the board of directors of the Jacksonville Symphony Orchestra. He is a member of the boards of directors of the Atlantic Suns Presidents Council, Brooks Rehabilitation Hospital, Guidewell Mutual Holding Corporation, the Jacksonville Chamber of Commerce, the Jacksonville University Board of Trustees, JaxSports, the NCAA Presidential Forum, Stein Mart Inc., THE PLAYERS Council, WJCT, and Web.com.
Cost earned his MBA from the University of Rochester and his bachelor's degree from Jacksonville University. He was inducted into the Florida Council on Economic Education Business Hall of Fame in 2015 and was awarded Jacksonville University's Distinguished Alumni Award in 2006.
Federal Reserve Bank of Atlanta branch directors provide economic information from the branch territory to the Reserve Bank president and head office directors, who use the information in monetary policy deliberations and making discount rate recommendations. Cost was appointed to the board of directors of the Jacksonville Branch by the Federal Reserve Board of Governors in Washington DC. The Board of Governors appoints three of the Jacksonville Branch directors, and the Atlanta head office directors appoint four.