The Global Fund Board has decided that the newly appointed General Manager, Gabriel Jaramillo, will exercise all of the powers and functions of the Executive Director, including the power to execute agreements on behalf of the Global Fund. The Board took this decision by electronic vote on 2 February 2012. Earlier, Mr. Jaramillo (pronounced "Harameeyo") had been appointed to the temporary General Manager position for a one-year term that began on 1 February 2012. (See GFO article.) That appointment was made by the Board Leadership (i.e., the Chair and Vice-Chair), acting at the request of the Board. According to media reports, Mr Jaramillo will work for a nominal annual salary of $1. In its decision, the Board requests that the Board Leadership undertake periodic assessments of Mr Jaramillo's performance. In an interview with the Wall Street Journal, Jaramillo said that he will focus on "establishing a disciplined private-sector governance process" for managing grants, and will also improve risk management and strengthen the Fund's forecasting. Regarding fundraising, and responding in part to calls by some for an emergency fund-raising effort, Mr Jaramillo said he hopes to hold a fund-raising conference later this year.