Election of Directors

Election of Directors

Item 1 Election of Directors

“It has always been important that BlackRock’s Board of Directors functions as a key strategic and governing body that challenges our leadership team to be better and more innovative.”

Laurence D. Fink
Chairman and Chief Executive Officer

Director Nominees

Our Board has nominated 18 directors for election at this year’s Annual Meeting on the recommendation of our Governance Committee. Each director will serve until our next annual meeting and until his or her successor has been duly elected, or until his or her earlier death, resignation or retirement.

We expect each director nominee to be able to serve if elected. If a nominee is unable to serve, proxies will be voted in favor of the remainder of those directors nominated and may be voted for substitute nominees, unless the Board decides to reduce its total size.

If all 18 nominees are elected, our Board will consist of 18 directors, 15 of whom, representing approximately 83% of the Board, will be “independent” as defined in the New York Stock Exchange (the “NYSE”) listing standards.

Stockholder Agreement with The PNC Financial Services Group, Inc.

BlackRock’s stockholder agreement with The PNC Financial Services Group, Inc. (the “PNC Stockholder Agreement”) provides, subject to the waiver provisions of the agreement, that BlackRock will use its best efforts to cause the election at each annual meeting of shareholders so that the Board will consist of:

  • no more than 19 directors,
  • not less than two nor more than four directors who will be members of BlackRock management,
  • two directors who will be designated by PNC, and
  • the remaining directors being independent for purposes of the rules of the NYSE and not designated by or on behalf of PNC or any of its affiliates.

The PNC Financial Services Group, Inc. (“PNC”) has designated one member of the Board, William S. Demchak, Chairman, President and Chief Executive Officer of PNC. PNC has notified BlackRock that for the time being it will not designate a second director to the Board, although it retains the right to do so at any time in accordance with the PNC Stockholder Agreement. PNC has additionally been permitted to invite an observer to attend meetings of the Board as a non-voting guest. The PNC observer is Gregory B. Jordan, the General Counsel and Head of Regulatory and Governmental Affairs of PNC. Laurence D. Fink and Robert S. Kapito are members of BlackRock’s management team and are currently members of the Board. For additional detail on the PNC Stockholder Agreement, see “Certain Relationships and Related Transactions – PNC Stockholder Agreement” on page 40.

Majority Vote Standard for Election of Directors

Directors are elected by a majority of the votes cast in uncontested elections (the number of shares voted “for” a director nominee must exceed the number of shares voted “against” that director nominee). In a contested election (a situation in which the number of nominees exceeds the number of directors to be elected), the standard for election of directors would be a plurality of the shares represented in person or by proxy at any meeting and entitled to vote on the election of directors. Whether an election is contested is determined seven days in advance of when we file our definitive Proxy Statement with the SEC.

Director Resignation Policy and Mandatory Retirement Age

Under the Board’s Director Resignation Policy, any incumbent director who fails to receive a majority of votes cast in an uncontested election must tender his or her resignation to the Board. The Governance Committee would then make a recommendation to the Board about whether to accept or reject the resignation or take other action. The Board will act on the Governance Committee’s recommendation and publicly disclose its decision and rationale within 90 days from the date the election results are certified. The director who tenders his or her resignation under the Director Resignation Policy will not participate in the Board’s decision.

The Board has established a mandatory retirement age of 75 years for directors, as reflected in BlackRock’s Corporate Governance Guidelines.

Director Nomination Process

The Governance Committee oversees the director nomination process. The Committee leads the Board’s annual review of Board performance and reviews and recommends to the Board BlackRock’s Corporate Governance Guidelines, which include the minimum criteria for membership on the Board. The Governance Committee also assists the Board in identifying individuals qualified to become Board members and recommends to the Board a slate of candidates, which may include both incumbent and new director nominees, to submit for election at each annual meeting of shareholders. The Committee may also recommend that the Board elect new members to the Board to serve until the next annual meeting of shareholders.

Identifying and Evaluating Candidates for Director

The Governance Committee seeks advice on potential director candidates from current directors and executive officers when identifying and evaluating new candidates for director. The Governance Committee also may direct management to engage thirdparty firms that specialize in identifying director candidates to assist with its search. Shareholders can recommend a candidate for election to the Board by submitting director recommendations to the Governance Committee. For information on the requirements governing shareholder nominations for the election of directors, please see “Deadlines for Submission of Proxy Proposals, Nomination of Directors and Other Business of Shareholders” on page 92.

The Governance Committee then reviews publicly available information regarding each potential director candidate to assess whether the candidate should be considered further. If the Governance Committee determines that the candidate warrants further consideration, then the Chairperson (or a person designated by the Governance Committee) will contact the candidate. If the candidate expresses a willingness to be considered and to serve on the Board, then the Governance Committee typically requests information from the candidate and reviews the candidate’s accomplishments and qualifications against the criteria described below.

The Governance Committee’s evaluation process does not vary based on whether a candidate is recommended by a shareholder, although the Governance Committee may consider the number of shares held by the recommending shareholder and the length of time that such shares have been held.

Criteria for Board Membership

Director Qualifications and Attributes

The Governance Committee and the Board take into consideration a number of factors and criteria in reviewing candidates for nomination to the Board. The Board believes, that at a minimum, a director candidate must demonstrate, by significant accomplishment in his or her field, an ability to make a meaningful contribution to the Board’s oversight of the business and affairs of BlackRock. Equally important, a director candidate must have an impeccable record and reputation for honest and ethical conduct in his or her professional and personal activities.

In addition, nominees for director are selected on the basis of experience, diversity, knowledge, skills, expertise, ability to make independent analytical inquiries, understanding of BlackRock’s business environment and a willingness to devote adequate time and effort to the responsibilities of the Board.

Board Diversity

BlackRock and its Board believe diversity in the boardroom is critical to the success of the Company and its ability to create long-term value for our shareholders. The Board has and will continue to make diversity in gender, ethnicity, age, career experience and geographic location – as well as diversity of mind – a priority when considering director candidates. The diverse backgrounds of our individual directors help the Board better evaluate BlackRock’s management and operations and assess risk and opportunities for the Company’s business model. BlackRock’s commitment to diversity enhances Board involvement in our Company’s multi-faceted longterm strategy and inspires deeper engagement with management, employees and clients around the world.

Our Board has nominated 18 directors for election, 15 of whom are independent. The Board includes 5 women, 1 of whom is African American, and 6 directors who are non-U.S. or dual citizens. Several of our nominees live and work overseas in countries and regions that are key areas of growth and investment for BlackRock, including Mexico, Canada, the United Kingdom and Continental Europe.

As BlackRock’s business has evolved, so has its Board. Our Board consists of senior leaders (including 12 current or former company CEOs) with substantial experience in financial services, consumer products, manufacturing, technology, banking and energy, and several directors have held senior policy and government positions. To learn more about our Board, we encourage you to visit our website at http://ir.blackrock.com/board-of-directors. Core qualifications and areas of expertise represented on our Board include:

Senior Executive & Corporate GovernancePublic Company & Financial Reporting
Directors bring valuable senior executive experience on matters relating to corporate governance, management, operations and compensation.Directors have experience in the oversight of internal controls and reporting of public company financial and operating results.
Global BusinessPublic Policy & Government/Regulatory Affairs
Directors bring international business strategy, operations and substantive expertise in international matters relevant to BlackRock’s global business.Directors possess insight and expertise in managing governmental and regulatory affairs and their potential impact on BlackRock’s business operations.
Financial ServicesBranding & Marketing

Directors possess in-depth knowledge of the financial services industry or asset management and provide valuable perspectives on issues faced by BlackRock.Directors bring expertise in brand development, marketing and sales in local markets at a global scale relevant to BlackRock’s global business.
Risk Management & ComplianceTechnology
Directors have experience in risk management and compliance oversight
relevant to exercising corporate and fiduciary responsibilities.
Directors possess experience in the developing and embracing new technology as well as leading innovation initiatives at companies.

Board Tenure and Size

To ensure the Board has an appropriate balance of experience, continuity and fresh perspective, the Board considers, among other factors, length of tenure when reviewing nominees. The average tenure of BlackRock’s director nominees is approximately 7 years, while the average tenure for independent director nominees is approximately 5 years.

Six directors, comprising 33% of the Board, have served more than 10 years and bring a wealth of experience and knowledge concerning BlackRock. Five directors, comprising 28% of the Board, have served between 5 and 10 years.

Following the 2018 Annual Meeting of Shareholders, assuming all of the nominated directors are elected, there will be seven directors, comprising 39% of the Board, who have joined the Board within the past 5 years and bring fresh perspective to Board deliberations.

The Board has not adopted a policy that limits or sets a target for Board size and believes the current size and diverse composition of the Board is best suited to evaluate management’s performance and oversee BlackRock’s global strategy and risk management. As described in “Board Evaluation Process” on page 23, the Governance Committee and the Board evaluate Board and Committee performance and effectiveness on at least an annual basis and, as part of that process, ask each director to consider whether the size of the Board and its standing Committees are appropriate.

Compliance with Regulatory and Independence Requirements

The Governance Committee takes into consideration regulatory requirements, including competitive restrictions and financial institution interlocks, independence requirements under the NYSE listing standards and our Corporate Governance Guidelines in its review of director candidates for the Board and Committees. The Governance Committee also considers a director candidate’s current and past positions held, including past and present board and committee memberships, as part of its evaluation.

Service on Other Public Company Boards

Each of our directors must have the time and ability to make a constructive contribution to the Board as well as a clear commitment to fulfilling the fiduciary duties required of directors and serving the interests of the Company’s shareholders. BlackRock’s CEO does not currently serve on the board of directors of any other public company, and none of our current directors serve on more than four public company boards, including BlackRock’s Board.

Director Candidate Search

Consistent with BlackRock’s age-based retirement policy, at least 6 of BlackRock’s current directors will retire within the next 6 years, inclusive of Messrs. Al-Hamad and Grosfeld. In order to maintain a Board with an appropriate mix of experience and qualifications, the Governance Committee, with the help of management and an outside consultant, engages in a year-round process to identify and evaluate new director candidates in conjunction with its recurring review of Board and Committee composition. Consistent with our long-term strategic goals and the qualifications and attributes described above, search criteria include significant experience in financial services, the technology sector and consumer branding, as well as international experience. In March of this year, the Governance Committee selected William E. Ford, Margaret L. Johnson and Mark Wilson as director candidates with significant leadership and experience in asset management, technology and international financial services, respectively, and recommended each to the Board for consideration as director candidates for the Board. Ms. Johnson was recommended for consideration to the Governance Committee by a third-party search firm and Messrs. Ford and Wilson were referrals from our CEO. On March 15, 2018, following a review of the candidates’ qualifications and independence, the Board voted unanimously to elect each director candidate to our Board.

Board Recommendation

For this year’s election, the Board has nominated 18 director candidates. The Board believes these director nominees provide BlackRock with the combined depth and breadth of skills, experience and qualities required to contribute to an effective and wellfunctioning Board. The composition of the current Board reflects a diverse range of skills, qualifications and professional experience that is relevant to our global strategy, business and governance.

The following biographical information about each director nominee highlights the particular experience, qualifications, attributes and skills possessed by each director nominee that led the Board to determine that he or she should serve as director. All director nominee biographical information is as of March 29, 2018.

The Board of Directors recommends shareholders vote “FOR” the election of each of the following 18 director nominees.

Director Nominee Biographies

  • Mathis Cabiallavetta

  • Pamela Daley

  • William S. Demchak

  • Jessica P. Einhorn

  • Laurence D. Fink

  • William E. Ford

  • Fabrizio Freda

  • Murry S. Gerber

  • Margaret L. Johnson

  • Robert S. Kapito

  • Sir Deryck Maughan

  • Cheryl D. Mills

  • Gordon M. Nixon

  • Charles H. Robbins

  • Ivan G. Seidenberg

  • Marco Antonio Slim Domit

  • Susan L. Wagner

  • Mark Wilson

View by Qualification:

  • View All
  • Senior Executive & Corporate Governance

    • Charles H. Robbins
    • Cheryl D. Mills
    • Fabrizio Freda
    • Gordon M. Nixon
    • Ivan G. Seidenberg
    • Jessica P. Einhorn
    • Laurence D. Fink
    • Marco Antonio Slim Domit
    • Margaret L. Johnson
    • Mark Wilson
    • Mathis Cabiallavetta
    • Murry S. Gerber
    • Pamela Daley
    • Robert S. Kapito
    • Sir Deryck Maughan
    • Susan L. Wagner
    • William E. Ford
    • William S. Demchak
  • Financial Services

    • Mark Wilson
    • Susan L. Wagner
    • Marco Antonio Slim Domit
    • Gordon M. Nixon
    • Sir Deryck Maughan
    • Robert S. Kapito
    • William E. Ford
    • Laurence D. Fink
    • Jessica P. Einhorn
    • Pamela Daley
    • Mathis Cabiallavetta
    • William S. Demchak
  • Global Business

    • Mathis Cabiallavetta
    • Pamela Daley
    • William S. Demchak
    • Laurence D. Fink
    • Jessica P. Einhorn
    • William E. Ford
    • Fabrizio Freda
    • Gordon M. Nixon
    • Cheryl D. Mills
    • Charles H. Robbins
    • Marco Antonio Slim Domit
    • Margaret L. Johnson
    • Mark Wilson
    • Murry S. Gerber
    • Robert S. Kapito
    • Sir Deryck Maughan
    • Susan L. Wagner
  • Branding & Marketing

    • William S. Demchak
    • Fabrizio Freda
    • Margaret L. Johnson
    • Robert S. Kapito
    • Charles H. Robbins
    • Cheryl D. Mills
    • Ivan G. Seidenberg
  • Public Company & Financial Reporting

    • Mathis Cabiallavetta
    • Pamela Daley
    • Laurence D. Fink
    • William E. Ford
    • Murry S. Gerber
    • Sir Deryck Maughan
    • Ivan G. Seidenberg
    • Susan L. Wagner
    • Mark Wilson
    • Marco Antonio Slim Domit
    • William S. Demchak
  • Public Policy & Government/Regulatory Affairs

    • Ivan G. Seidenberg
    • Mark Wilson
    • Charles H. Robbins
    • Gordon M. Nixon
    • Cheryl D. Mills
    • Margaret L. Johnson
    • Laurence D. Fink
    • Pamela Daley
    • Jessica P. Einhorn
  • Risk Management & Compliance

    • Mathis Cabiallavetta
    • Jessica P. Einhorn
    • Laurence D. Fink
    • Murry S. Gerber
    • Fabrizio Freda
    • Robert S. Kapito
    • Sir Deryck Maughan
    • Gordon M. Nixon
    • Cheryl D. Mills
    • Marco Antonio Slim Domit
    • Susan L. Wagner
    • William S. Demchak
  • Technology

    • Fabrizio Freda
    • Murry S. Gerber
    • Margaret L. Johnson
    • Ivan G. Seidenberg
    • Charles H. Robbins
  1. Gender
  2. More Diversity

View by years of Tenure:

  • View All
  • 0-2

  • 3-5

  • 6-10

  • 11-15

  • 15+

View by Independence:

Independent ()
Non-Independent ()

View by Committee:

  • View All
  • Audit


    Number of meetings: 14
    Chair: Pamela Daley

    Audit Committee Financial Expert

    - Pamela Daley

    - Mathis Cabiallavetta

    - Murry S. Gerber

    - Sir Deryck Maughan

    - Ivan G. Seidenberg

    - Marco Antonio Slim Domit

    • Mathis Cabiallavetta
    • Pamela Daley
    • Murry S. Gerber
    • Ivan G. Seidenberg
    • Marco Antonio Slim Domit
    • Sir Deryck Maughan
  • Management Development & Compensation


    Number of meetings: 10
    Chair: Ivan G. Seidenberg

    • Murry S. Gerber
    • Gordon M. Nixon
    • Cheryl D. Mills
    • Ivan G. Seidenberg
    • Jessica P. Einhorn
    • Marco Antonio Slim Domit
  • Nominating and Governance


    Number of meetings: 6
    Chair: Ivan G. Seidenberg

    • Ivan G. Seidenberg
    • Fabrizio Freda
    • Mathis Cabiallavetta
  • Risk


    Number of meetings: 6
    Chair: Sir Deryck Maughan

    • Mathis Cabiallavetta
    • Pamela Daley
    • Jessica P. Einhorn
    • Gordon M. Nixon
    • Susan L. Wagner
    • William S. Demchak
    • Sir Deryck Maughan
    • Charles H. Robbins
  • Executive


    Number of meetings: 0
    Chair: Laurence D. Fink

    • Laurence D. Fink
    • William S. Demchak
    • Sir Deryck Maughan
    • Murry S. Gerber
    • Ivan G. Seidenberg
    • Pamela Daley
    • Gordon M. Nixon

View by Age:

  • View All
  • 0-45

  • 45-54

  • 55-64

  • 65-74

  • 75+

View by Leadership:

  • View All
  • Chairman and Chief Executive Officer


    Laurence D. Fink
    • Laurence D. Fink
  • President


    Robert S. Kapito
    • Robert S. Kapito
  • Lead Independent Director


    Murry S. Gerber
    • Murry S. Gerber
Close

Mathis Cabiallavetta

Former Chairman of UBS, Vice Chairman of Swiss Re Ltd. and Marsh & MacLennan Companies, Inc.


Age: 73
Director since: 2007
Independent: Yes
Board Committees:
Other Public Boards: Swiss Re Ltd. (2008 – present) (Vice Chairman from 2009 – April 2015)
Qualifications:

Mr. Cabiallavetta has served as a member of the board of directors of Swiss Re Ltd. since 2008 and as the Vice Chairman of its board between 2009 and 2015. Mr. Cabiallavetta retired as Vice Chairman, Office of the Chief Executive Officer of Marsh & McLennan Companies, Inc. and as Chairman of Marsh & McLennan Companies International in 2008. Prior to joining Marsh & McLennan Companies, Inc. in 1999, Mr. Cabiallavetta was Chairman of the board of directors of Union Bank of Switzerland (“UBS A.G.”).

Qualifications

As a former leader of Swiss Re Ltd. and Marsh & McLennan Companies, Inc. as well as UBS A.G., Mr. Cabiallavetta brings executive experience from these large and complex multinational businesses and provides substantial expertise in global capital markets, and, as a result, he offers unique insights to the Board’s oversight of BlackRock’s global operations and risk management.

Other Public Company Directorships (within the past 5 years)

  • Swiss Re Ltd. (2008 – present) (Vice Chairman from 2009 – 2015)
  • Philip Morris International Inc. (2002 – 2014)

Pamela Daley

Former Senior Vice President, General Electric Company Corporate Business Development and Senior Advisor to Chairman


Age: 65
Director since: 2014
Independent: Yes
Board Committees:
Other Public Boards: SecureWorks Corp. (2016 – present)
Qualifications:

Ms. Daley retired from General Electric Company (“GE”) in January 2014, having most recently served as a Senior Advisor to its Chairman from April 2013 to January 2014. Prior to this role, Ms. Daley served as Senior Vice President of GE’s Corporate Business Development from 2004 to 2013 and as Vice President and Senior Counsel for Transactions from 1991 to 2004. As Senior Vice President, Ms. Daley was responsible for GE’s mergers, acquisitions and divestiture activities worldwide. Ms. Daley joined GE in 1989 as Tax Counsel. Previously, Ms. Daley was a Partner of Morgan, Lewis & Bockius, where she specialized in domestic and cross-border tax-oriented financings and commercial transactions. Ms. Daley currently serves as a director of SecureWorks Corp. Ms. Daley previously served on the board of BG Group, an international oil and gas company traded on the London Stock Exchange, until it was acquired by Royal Dutch Shell, and Patheon N.V., until it was acquired by Thermo Fisher, Inc.

Qualifications

With over 35 years of transactional experience and more than 20 years as an executive at GE, one of the world’s leading multinational corporations, Ms. Daley brings significant experience and strategic insight to the Board in the areas of leadership development, international operations, transactions, business development and strategy.

Other Public Company Directorships (within the past 5 years)

  • SecureWorks Corp. (2016 – present)
  • Patheon N.V. (2016 – 2017)
  • BG Group (2014 – 2016)

William S. Demchak

Chairman, Chief Executive Officer and President, PNC Financial Services Group, Inc.


Age: 55
Director since: 2003
Independent: No
Board Committees:
Other Public Boards: PNC (2013 – present) (Chairman from April 2014 – present)
Qualifications:

Mr. Demchak has served as Chairman of the board of directors of PNC since April 2014, as Chief Executive Officer since April 2013 and as President since April 2012. Prior to that, Mr. Demchak held a number of supervisory positions at PNC, including Senior Vice Chairman, Head of Corporate and Institutional Banking and Chief Financial Officer. Before joining PNC in 2002, Mr. Demchak served as the Global Head of Structured Finance and Credit Portfolio for J.P. Morgan Chase & Co. and additionally held key leadership roles at J.P. Morgan prior to its merger with Chase Manhattan Corporation in 2000.

Qualifications

As the Chairman, President and Chief Executive Officer of PNC, a large, national diversified financial services company providing traditional banking and asset management services, Mr. Demchak brings substantial expertise in financial services, risk management and corporate governance to bear as a member of the Board. Mr. Demchak was designated to serve on the Board by PNC pursuant to the PNC Stockholder Agreement.

Other Public Company Directorships (within the past 5 years)

  • PNC (2013 – present) (Chairman from 2014 – present)

 

Jessica P. Einhorn

Former Dean of the Paul H. Nitze School of Advanced International Studies at The Johns Hopkins University and Former Managing Director, World Bank


Age: 70
Director since: 2012
Independent: Yes
Board Committees:
Other Public Boards: Time Warner, Inc. (2005 - present)
Qualifications:

Ms. Einhorn served as Dean of the Paul H. Nitze School of Advanced International Studies at The Johns Hopkins University from 2002 until June 2012. Prior to becoming Dean, she was a consultant at Clark & Weinstock, a strategic consulting firm. Ms. Einhorn also spent nearly 20 years at the World Bank, concluding as Managing Director in 1998. Between 1998 and 1999, Ms. Einhorn was a Visiting Fellow at the International Monetary Fund. Prior to joining the World Bank in 1978, she held positions at the U.S. Treasury, the U.S. State Department and the International Development Cooperation Agency of the United States. Ms. Einhorn currently serves as a Director of both the Peterson Institute for International Economics and the National Bureau of Economic Research. As of July 2012, Ms. Einhorn is resident at The Rock Creek Group in Washington, D.C., where she is a Senior Advisor and longstanding member of The Rock Creek Group Advisory Board.

Qualifications

Ms. Einhorn’s leadership experience in academia and at the World Bank, along with her experience in the U.S. government and at the International Monetary Fund, provides the Board with a unique perspective and an in-depth understanding of international finance, economics and public policy. Through her service with other public companies, Ms. Einhorn also has developed expertise in corporate governance and risk oversight.

Other Public Company Directorships (within the past 5 years)

  • Time Warner, Inc. (2005 – present)

Laurence D. Fink

Chairman and Chief Executive Officer, BlackRock


Age: 65
Director since: 1998
Independent: No
Board Committees:
Other Public Boards:
Qualifications:

Mr. Fink is founder, Chairman and Chief Executive Officer of BlackRock. He also leads the firm’s Global Executive Committee. He is responsible for senior leadership development and succession planning, defining and reinforcing BlackRock’s vision and culture, and engaging relationships with key strategic clients, industry leaders, regulators and policy makers. Mr. Fink co-founded BlackRock in 1988, and under his leadership, the firm has grown into a global leader in investment management, risk management and advisory services for institutional and retail clients.

Qualifications

As one of the founding principals and Chief Executive Officer of BlackRock since 1988, Mr. Fink brings exceptional leadership skills and in-depth understanding of BlackRock’s businesses, operations and strategy. His extensive and specific knowledge of BlackRock and its business enable him to keep the Board apprised of the most significant developments impacting the Company and to guide the Board’s discussion and review of the Company’s strategy.

Other Public Company Directorships (within the past 5 years)

  • None

William E. Ford

Chief Executive Officer of General Atlantic


Age: 56
Director since: 2018
Independent: Yes
Board Committees:
Other Public Boards: Axel Springer (2016 – present);
IHS Markit Ltd. (2010 – present)
Qualifications:

Mr. Ford is the Chief Executive Officer of General Atlantic, a position he has held since 2007. He also serves as Chairman of General Atlantic’s Executive Committee and is a member of the firm’s Investment and Portfolio Committees. Mr. Ford is actively involved with a number of educational and not-for-profit organizations. He is a member of the board of Rockefeller University, where he is Vice Chair, and serves on the board of directors of the National Committee on United States-China Relations, and is a member of The Council on Foreign Relations. He is also a member of the Steering Committee for the CEO Action for Diversity and Inclusion initiative. Mr. Ford has formerly served on the boards of First Republic Bank, NYSE Euronext, E*Trade, Priceline and NYMEX Holdings.

Qualifications

Mr. Ford brings to the Board extensive global investment management experience and financial expertise acquired over his 25 years at General Atlantic, one of world’s leading growth equity firms.

Other Public Company Directorships (within the past 5 years) 

  • Axel Springer (2016 – present)
  • IHS Markit Ltd. (2010 – present)

Fabrizio Freda

President and Chief Executive Officer, Estée Lauder Companies Inc.


Age: 60
Director since: 2012
Independent: Yes
Board Committees:
Other Public Boards: The Estée Lauder Companies Inc. (2009 - present)
Qualifications:

Mr. Freda has served as President and Chief Executive Officer of The Estée Lauder Companies Inc. (“Estée Lauder”) since July 2009 and is also a member of its board of directors. Mr. Freda previously served as Estée Lauder’s President and Chief Operating Officer from 2008 to July 2009. Estée Lauder is a global leader in beauty with more than 25 brands and over 40,000 employees worldwide. Prior to joining Estée Lauder, Mr. Freda held various senior positions at Procter & Gamble Company over the span of 20 years. From 1986 to 1988, Mr. Freda directed marketing and strategic planning for Gucci SpA.

Qualifications

Mr. Freda’s extensive experience in product strategy, innovation and global branding brings valuable insights to the Board. His chief executive experience at Estée Lauder, an established multinational manufacturer and marketer of prestige brands, provides the Board with unique perspectives on the Company’s marketing, strategy and innovation initiatives.

Other Public Company Directorships (within the past 5 years)

  • The Estée Lauder Companies Inc. (2009 – present)

Murry S. Gerber

Former Executive Chairman, Chairman, President and CEO of EQT Corporation


Age: 65
Director since: 2000
Independent: Yes
Board Committees:
Other Public Boards: U.S. Steel Corporation (2012 - present);
Halliburton Company (2012 - present)
Qualifications:

Mr. Gerber* has served as a member of the boards of directors of U.S. Steel Corporation since July 2012 and Halliburton Company since January 2012. Previously, Mr. Gerber served as Executive Chairman of EQT Corporation, an integrated energy production company, from 2010 until May 2011, as its Chairman and Chief Executive Officer from 2007 to 2010, and as its Chairman, President and Chief Executive Officer from 1998 to 2007.

Qualifications

As a former leader of a large, publicly traded energy production company and as a current or former member of the board of directors of three large, publicly traded companies, Mr. Gerber brings to the Board extensive expertise and insight into corporate operations, management and governance matters, as well as expert knowledge of the energy sector.

Other Public Company Directorships (within the past 5 years)

  • U.S. Steel Corporation (2012 – present)
  • Halliburton Company (2012 – present)

* The Board selected Mr. Gerber to serve as the Lead Independent Director effective as of May 25, 2017.

Margaret L. Johnson

Executive Vice President of Business Development of Microsoft Corporation


Age: 56
Director since: 2018
Independent: Yes
Board Committees:
Other Public Boards: Live Nation Entertainment (2013 – present)
Qualifications:

Ms. Johnson has been an Executive Vice President of Business Development at Microsoft Corporation since September 2014. She is responsible for driving strategic business deals and partnerships across various industries. Ms. Johnson joined Microsoft from Qualcomm Incorporated, where she served in various leadership positions across engineering, sales, marketing and business development. She most recently served as Executive Vice President of Qualcomm Technologies, Inc. and President of Global Market Development. Ms. Johnson is a Director of PATH and a Trustee of The Paley Center for Media.

Qualifications

Ms. Johnson brings to the Board substantive experience in the field of technology as well as business and strategic development expertise acquired over her 28 years at Microsoft and Qualcomm.

Other Public Company Directorships (within the past 5 years)

  • Live Nation Entertainment (2013 – present)

Robert S. Kapito

President, BlackRock


Age: 61
Director since: 2006
Independent: No
Board Committees:
Other Public Boards:
Qualifications:

Mr. Kapito has been President of BlackRock since 2007 and is a member of BlackRock’s Global Executive Committee and Chairman of the Global Operating Committee. Mr. Kapito co-founded BlackRock in 1988 and is also a director of iShares, Inc. He is responsible for the day-to-day oversight of BlackRock’s key operating units including Investment Strategies, Client Businesses, Technology & Operations, and Risk & Quantitative Analysis. Prior to 2007, Mr. Kapito served as Vice Chairman of BlackRock and Head of BlackRock’s Portfolio Management Group.

Qualifications

As one of our founding principals, Mr. Kapito has served as an executive leader of BlackRock since 1988. He brings to the Board industry and business acumen in addition to in-depth knowledge about BlackRock’s businesses, investment strategies and risk management, as well as extensive experience overseeing day-to-day operations.

Other Public Company Directorships (within the past 5 years)

  • None

Sir Deryck Maughan

Former Senior Advisor, Partner and Managing Director of Kohlberg Kravis Roberts & Co. L.P.


Age: 70
Director since: 2006
Independent: Yes
Board Committees:
Other Public Boards:
Qualifications:

Sir Deryck served as a Senior Advisor of Kohlberg Kravis Roberts & Co. L.P. (“KKR”) from January 2013 until December 2014. Previously, he was a Partner and Head of the Financial Institutions Group of KKR since 2009 and a Managing Director since 2005. He was Chairman of KKR Asia from 2005 to 2009. Prior to joining KKR, Sir Deryck served as Vice Chairman of Citigroup from 1998 to 2004, as Chairman and Chief Executive Officer of Salomon Brothers from 1992 to 1997 and as Chairman and Chief Executive Officer of Salomon Brothers Asia from 1986 to 1991. He also served as Vice Chairman of the NYSE from 1996 to 2000. Prior to joining Salomon Brothers in 1983, Sir Deryck worked at Goldman Sachs. He served in H.M. Treasury (UK Economics and Finance Ministry) from 1969 to 1979. Sir Deryck also served as a director of GlaxoSmithKline plc from 2004 to 2016 and Thomson Reuters from 2008 to 2014.

Qualifications

Sir Deryck’s internationally focused leadership positions at KKR, a global leader in private equity, fixed income and capital markets, and at Citigroup and Salomon Brothers provide the Board with a valuable perspective on international finance and global capital markets and extensive experience in assessing value, strategy and risks related to various business models.

Other Public Company Directorships (within the past 5 years)

  • GlaxoSmithKline plc (2004 – 2016)
  • Thomson Reuters (2008 – 2014)

Cheryl D. Mills

Founder and CEO of BlackIvy Group and former Chief of Staff to Secretary of State Hillary Clinton


Age: 53
Director since: 2013
Independent: Yes
Board Committees:
Other Public Boards:
Qualifications:

Ms. Mills is Founder and Chief Executive Officer of the BlackIvy Group, an investment company that grows and builds businesses in Sub-Saharan Africa. Previously, she served as Chief of Staff to Secretary of State Hillary Clinton and Counselor to the U.S. Department of State from 2009 to 2013. Ms. Mills was with New York University from 2002 to 2009, where she served as Senior Vice President for Administration and Operations and as General Counsel. She also served as Secretary of the University’s Board of Trustees. From 1999 to 2001, Ms. Mills was Senior Vice President for Corporate Policy and Public Programming at Oxygen Media. Prior to joining Oxygen Media, Ms. Mills served as Deputy Counsel to President Clinton and as the White House Associate Counsel. She began her career as an Associate at the Washington, D.C. law firm of Hogan & Hartson. Ms. Mills previously served on the boards of Cendant Corporation (now Avis Budget Group, Inc.) and Orion Power.

Qualifications

Ms. Mills brings to the Board a range of leadership experiences from government and academia, and through her prior service on the boards of corporations and non-profits, she provides expertise on issues concerning government relations, public policy, corporate administration and corporate governance.

Other Public Company Directorships (within the past 5 years)

  • None

Gordon M. Nixon

Former President, CEO and Director of Royal Bank of Canada


Age: 61
Director since: 2015
Independent: Yes
Board Committees:
Other Public Boards: BCE, Inc. (2014 - present);
George Weston Limited (2014 - present)
Qualifications:

Mr. Nixon was President, Chief Executive Officer and a member of the board of directors of Royal Bank of Canada from 2001 to 2014. He first joined RBC Dominion Securities Inc. in 1979, where he held a number of operating positions and served as Chief Executive Officer from December 1999 to April 2001. Mr. Nixon has served on the board of directors of BCE Inc. since 2014 and was named Chairman of the board upon his re-election in April 2016. He is also a director of George Weston Limited and is on the advisory board of Kingsett Capital.

Qualifications

With 13 years of experience leading a global financial institution and one of Canada’s largest public companies, Mr. Nixon brings extensive expertise and perspective to the Board on global markets and an in-depth knowledge of the North American market. His experience growing a diversified, global financial services organization in a highly regulated environment also provides the Board with valuable insight into risk management, compensation and corporate governance matters.

Other Public Company Directorships (within the past 5 years)

  • BCE Inc. (2014 – present)
  • George Weston Limited (2014 – present)

Charles H. Robbins

CEO and Director of Cisco Systems, Inc.


Age: 52
Director since: 2017
Independent: Yes
Board Committees:
Other Public Boards: Cisco Systems, Inc. (2015 – present)
Qualifications:

Mr. Robbins serves as the Chairman and Chief Executive Officer of Cisco Systems, Inc. (“Cisco”). Prior to assuming this role in July 2015, he was Senior Vice President of Cisco’s Worldwide Field Operations and led its Worldwide Sales and Partner Organization where he helped drive and execute many of Cisco’s investment areas and strategy shifts. He serves as Chairman of the U.S.-Japan Business Council, Chair of the IT Governors Steering Committee for the World Economic Forum and is a member of the International Business Council for the World Economic Forum and the Business Roundtable.

Qualifications

Mr. Robbins brings to the Board extensive experience in the fields of technology, global sales and operations acquired over his 19 years at Cisco, one of world’s leading information technology companies.

Other Public Company Directorships (within the past 5 years)

  • Cisco Systems, Inc. (2015 – present)

Ivan G. Seidenberg

Former Chairman and CEO of Verizon Communications Inc.


Age: 71
Director since: 2011
Independent: Yes
Board Committees:
Other Public Boards:
Qualifications:

Mr. Seidenberg retired as the Chairman of the board of directors of Verizon Communications Inc. in December 2011 and previously served as its Chief Executive Officer from 2002 to 2011. Prior to the creation of Verizon Communications Inc., Mr. Seidenberg was the Chairman and Chief Executive Officer of Bell Atlantic and NYNEX Corp. Mr. Seidenberg has been an Advisory Partner of Perella Weinberg Partners, a global independent advisory and asset management firm, since June 2012.

Qualifications

Mr. Seidenberg brings extensive executive leadership, technological and operational experience to the Board from his tenure at Verizon Communications Inc., one of the world’s leading providers of communications services. Through his extensive experience on the boards of public companies, he has developed an in-depth understanding of business and corporate governance.

Other Public Company Directorships (within the past 5 years)

  • Boston Properties, Inc. (2014 – 2016)

Marco Antonio Slim Domit

Chairman of Grupo Financiero Inbursa, S.A.B. de C.V.


Age: 49
Director since: 2011
Independent: Yes
Board Committees:
Other Public Boards: Grupo Carso, S.A.B. de C.V. (1991 – present);
Grupo Financiero Inbursa, S.A.B. de C.V. (Chairman from 1997 – present);
Impulsora del Desarrollo y el Empleo en América Latina, S.A.B. de C.V. (Chairman from 2012 – present)
Qualifications:

Mr. Slim has been Chairman of the board of directors of Grupo Financiero Inbursa, S.A.B. de C.V. since 1997 and previously served as Chief Executive Officer of Grupo Financiero Inbursa from 1997 until April 2012. Mr. Slim is also a member of the board of directors of Grupo Carso, S.A.B. de C.V. and Chairman of The Carlos Slim Health Institute and of Impulsora del Desarrollo y el Empleo en América Latina, S.A.B. de C.V. (IDEAL), an infrastructure company. Mr. Slim was a member of the board of directors of Teléfonos de México, S.A.B. de C.V. from 1995 until April 2014.

Qualifications

Mr. Slim’s experience at Grupo Financiero Inbursa provides the Board with knowledge and expertise in international finance, and particular insight into emerging and Latin American markets. In addition, as a member of the board of directors of several international companies that invest globally, Mr. Slim brings substantive expertise in developing new businesses in international markets, shareholder rights and business strategy and integration to the Board.

Other Public Company Directorships (within the past 5 years)

  • Grupo Carso, S.A.B. de C.V. (1991 – present)
  • Grupo Financiero Inbursa, S.A.B. de C.V. (Chairman from 1997 – present)
  • Impulsora del Desarrollo y el Empleo en América Latina, S.A.B. de C.V. (Chairman from 2012 – present)
  • Teléfonos de México, S.A.B. de C.V. (1995 – 2014)

Susan L. Wagner

Former Vice Chairman of BlackRock


Age: 56
Director since: 2012
Independent: Yes
Board Committees:
Other Public Boards: Apple Inc. (2014 - present);
Swiss Re Ltd. (2014 - present)
Qualifications:

Ms. Wagner retired as Vice Chairman of BlackRock after serving in that role from 2006 to 2012. Ms. Wagner also served as a member of BlackRock’s Global Executive Committee and Global Operating Committee. Ms. Wagner previously served as BlackRock’s Chief Operating Officer and as Head of Corporate Strategy. She currently serves as a director of Color Genomics, Apple Inc. and Swiss Re Ltd.

Qualifications

As one of the founding principals of BlackRock, Ms. Wagner has over 25 years of experience across various positions. Accordingly, she is able to provide the Board with valuable insight and perspective on risk management, operations and strategy, as well as a broad and deep understanding of the asset management industry.

Other Public Company Directorships (within the past 5 years)

  • Apple Inc. (2014 – present)
  • Swiss Re Ltd. (2014 – present)

Mark Wilson

Chief Executive Officer of Aviva plc


Age: 51
Director since: 2018
Independent: Yes
Board Committees:
Other Public Boards: Aviva plc (2013 – present)
Qualifications:

Mr. Wilson is the Chief Executive Officer of Aviva plc (“Aviva”), a multinational insurance company headquartered in the UK. Prior to joining Aviva, Mr. Wilson worked in Asia for 14 years, including as Chief Executive Officer of AIA Group Limited, a leading pan-Asian company. Mr. Wilson is recognized for his leadership on sustainability issues and is a member of the UN Business and Sustainable Development Commission. In addition, he is a member of the Development Board of the Royal Foundation for the Duke and Duchess of Cambridge, Prince Harry and Ms. Meghan Markle.

Qualifications

As Chief Executive Officer of Aviva, Mr. Wilson brings to the Board extensive experience in the Europe, Middle East and Africa (“EMEA”) region and his operational and executive expertise in the insurance industry and in international finance provides the Board with an experienced outlook on international business strategy, development and sustainability.

Other Public Company Directorships (within the past 5 years) 

  • Aviva plc (2013 – present)

 

 

 

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