Pennington most recently was the overseer of Whitman College in Walla Walla, Washington, his alma mater.

His background in financial leadership also includes serving as executive vice president for the stock brokerage Dean Witter Reynolds in the early 1980s before becoming president of Intercapital Investment Management, a New York firm. Pennington later served as president and director of Capital Guardian Trust Co., part of the Capital Group Cos. Inc.

He resides in Darien, Connecticut.