NEW YORK, New York (11 May 2001) - James Corcoran assumed the presidency of the Downtown Athletic Club on Friday 11 May. Corcoran succeeds William J. Dockery, whose three-year term in office expired on 11 May. Corcoran, a graduate of Georgetown University in Washinghton, D.C., is a Senior Vice President at Morgan Stanley in Manhattan. Robert Dorgan is the DAC's new vice president, replacing Corcoran. Philip Lerner remains as treasurer and Carol Pisano stays on as secretary. Six members were chosen to server three-year terms on the Board of Governors. They include Roger Daly, Edward Schreier, Maggie Politop, Glenn Jackson, Greg Tremboli and Marie Dooley. In a letter to DAC members shortly after taking office, Corcoran said: "My mission is simple -- to grow the DAC into a club worthy of being called, 'The Home of the Heisman'", and he called for DAC members to come forward to provide assistance in any way possible. "The lines of communication are hereby open." Corcoran wrote. "Every comment, idea and thought submitted to me in writing or verbally will be heard and responded to." Corcoran pointed to four key areas upon which his new team will concentrate: the refinancing of the DAC's existing $8 million mortgage by the middle of 2002; the elimination of the club's operrating deficit; exploring additional marketing revenue from the Heisman Trophy; and upgrading of the building and facilities.