Mr. Terry L. Baxter has been an Independent Director of Fairholme Funds, Inc. since 2008 and has been a shareholder since inception. Mr. Baxter brings decades of executive and board level management experience to Fairholme, with areas of specialty spanning the crossroads of insurance and financial services, which is especially relevant in recent years as Fairholme has focused on companies in the financial services sector. 

Mr. Baxter's early career stints include television direction at PBS, as well as professional race car and stunt driving. Preferring to deal with accidents after they happen, he later embarked on a career at GEICO, where he spent 14 years in various management roles including Vice President of Corporate Relations. For both President Ronald Reagan (1985) and President George H.W. Bush (1989), Mr. Baxter served as Vice Chairman and General Manager of the Inaugural Gala. Between administrations, he served as Senior Vice President of the National Bank of Washington until President Bush appointed him Managing Director of the National Transportation Safety Board in 1990.

In 1993, Mr. Baxter joined White Mountains Insurance Group, Ltd. as President. Before retiring from White Mountains in 2002, he also served as Chairman for Source One Mortgage Services Corporation, a wholly owned subsidiary of White Mountains, and President of White Mountains Holdings.

Mr. Baxter is the author of November's Gladiators, as well as two acclaimed suspense novels, Hailstone and The Ursa Ultimatum.

Fairholme Funds, Inc.

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All investments are subject to inherent risk, including possible loss of the principal amount invested. There is no guarantee that the Funds will meet their objectives. Read about other risks of investing in Fairholme's Prospectus and SAI.

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