Altamonte Springs, Fla. (March 9, 2004) -- William G. Bishop III, president of the 90,000-member Institute of Internal Auditors, died suddenly on March 7 after suffering a heart attack while jogging near his Longwood, Fla., home. He was 65.

Bishop had served as the organization’s chief executive since 1992 and had announced  in December during the IIA’s mid-year meeting that he would retire in September 2004. He returned to the U.S. on March 5 from a trip to Kenya, where he had helped to implement a fraud prevention program in developing countries via a partnership between the IIA and the World Bank.

“This is a huge shock, and I am sure that we all are immensely saddened by his sudden passing,” said IIA chairman Robert N. McDonald. “This is a time to grieve for Bill, but it also is a moment to celebrate his life and the great memories we all have of a man who was more than the president of the IIA: Bill was a great friend to us all.”

Upon the announcement of Bishop's planned retirement, the IIA had engaged the executive search firm of Korn/Ferry to seek a replacement. An interim successor has not been named.

Prior to assuming the IIA presidency, Bishop served as general auditor for Shearson Lehman Brothers in New York City, where he directed a worldwide group of 90 auditors. Before joining Shearson in 1986, Bishop was vice president and general auditor of the American Express Co.

-- Bill Carlino

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