Later Career
As of 2004, Lehman is chairman of the private equity investment firm J. F. Lehman and Company, as well as chairman of the Hawaii Superferry. Lehman is chairman of the board of OAO Technology Solutions Inc. He is also an honorary member of the First Troop Philadelphia City Cavalry. As of 2005, he is a member of a number of influential conservative American thinktanks, including the Project for the New American Century, the Heritage Foundation, the Foreign Policy Research Institute, the Center for Security Policy, and the Committee on the Present Danger.
After his work in the 9/11 Commission in 2002, there was increased speculation that Lehman might be named to a chief security post within the Bush Administration. Positions suggested included Director of Central Intelligence, Director of National Intelligence and Secretary of Defense (when Donald Rumsfeld stepped down). None of this speculation has proved accurate. He currently serves as Chairman of the Princess Grace Foundation-USA and as a director of the OpSail Foundation. He is also a member of the board of overseers of the School of Engineering at the University of Pennsylvania, and is a trustee of La Salle College High School. He has served on the board of directors of the Ball Corporation since 1987. Additionally, Lehman is an advisory board member for the Partnership for a Secure America, a not-for-profit organization dedicated to recreating the bipartisan center in American national security and foreign policy.
On June 26, 2012, Lehman revealed to the staff of the United States Naval Institute and in a speech given in Portsmouth, U.K., the Reagan Administration secretly offered the use of the amphibious assault helicopter carrier Iwo Jima as a replacement in case either of the two British carriers, the Hermes and the Invincible, had been damaged or destroyed during the 1982 Falklands War. This revelation made headlines in the United Kingdom, but except for the U.S. Naval Institute, not in the United States.
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