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Bugg is chairman and CEO of Southwest Bancshares and the Bank of San Antonio, among other leadership positions.
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Boyd is currently the chief of staff for the Governor’s Office, where he previously served as general counsel.
The state has offered the company $7.9 million through the Texas Enterprise Fund in exchange for the company’s commitment to create these new jobs in Texas.
Texas Secretary of State Hope Andrade resigned Tuesday. The resignation will take effect this Friday. She has served in the office since 2008.
The lunch was the first holiday event to occur at the Governor’s Mansion since it reopened earlier this year, following renovation after a fire caused by an arsonist.
A state exchange must be approved by the Obama Administration, and operate under specific federally mandated rules, many of which have yet to be disclosed, according to Perry’s office.
Cornyn said "Core Texas values like hard work, limited government, and individual liberty will continue to guide me in this new role. I look forward to working with the Conference to tackle the major hurdles before us, beginning with the looming fiscal cliff.”