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Annual and Societal Report

CEO LETTER

No one could have predicted the health, economic, and societal upheaval that lay ahead as we entered this year. But we now see that the 2019 initiatives of The Conference Board were powerful building blocks that laid the groundwork for helping our Members and the broader business community navigate 2020’s crises and better serve society.

In 2019, we expanded our global footprint and thought leadership role while continuing to provide the strong connections and space for candid and constructive conversations.

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On the international front, our newly launched Gulf Center in Kuwait began producing economic and business research that supports companies in growing their business and developing their people; and in the U.S. we created the ESG Center as a successor to our Governance Center, bringing together in one place our decades of expertise in governance, sustainability, and corporate citizenship. We also launched our Global Consumer Confidence Survey, which captures the pulse of consumers in more than 60 markets around the world. Moreover, we captured the sentiment of the world’s business leaders in our latest C-Suite Challenge report: executives said that a recession, trade issues, developing next-generation leaders, and retaining talent were among the biggest challenges they anticipated in the year ahead.

Our insights on the job market revealed widespread labor shortages in blue-collar occupations, a trend that challenged conventional thinking and made national headlines. And recognizing regulation’s impact on job creation and the overall prosperity of society, we published a book calling on policymakers to not necessarily adopt more or less regulation, but rather to have their approach be guided by the principles of smart regulation. Other timely research produced insights about the latest trends on boardroom composition, sustainable procurement, artificial intelligence for HR, and employee well-being and engagement.

We continued our commitment to hosting conferences that convened the best and brightest, who discussed the challenges and opportunities around some of the leading issues of our times. Flagship events included our Employee Health Care conferences, Diversity & Inclusion conference, and Public Policy conferences and briefings in Washington, DC, that brought together policymakers on both sides of the aisle. Our groundbreaking cross-functional conference on the Future-Ready Organization generated insights for what lies ahead in every aspect of business leadership, providing a 360-degree view. And we continued convening business executives in peer-to-peer gatherings, which included launching new Councils on executive compensation, sales compensation, and intelligent automation.

I want to mention our leaders who have served with distinction as trustees of The Conference Board: retiring board members Pat O’Doherty, Chief Executive, Electricity Supply Board; Josef Ackermann, former Chairman of the Management Board and Group Executive, Deutsche Bank; and Alan Dachs, President and CEO, Fremont Group. While we miss their contributions, we welcomed two newly elected trustees: Vicky Bailey, Principal, Anderson, Stratton Enterprises LLC, and Gabrielle Sulzberger, General Partner, Rustic Canyon/Fontis Partners L.P.

Finally, I'm pleased to report that our investments in societal initiatives supported a wide range of activities, from our renowned economic indicators to our portfolio of reports, webcasts, councils, conferences, and more. None of this work would be possible without the support of our Members. The insights our Members bring, share, and disseminate help business and society navigate an increasingly complex and difficult era.


Steve Odland
President and CEO

MISSION

YEAR IN REVIEW

As the nation and the world experience unprecedented disruption, The Conference Board is intensifying focus on our dual societal and business missions. Our aim: to help our Members and the global business community navigate our current health, economic, and social crises.

We do this by continuing the extraordinary societal and business progress we made in 2019, and which we detail in this annual report. That work, which included the launch of our Gulf Center, exciting new partnerships, and the creation and delivery of hundreds of insight-rich briefings, reports, and webcasts, put us in an excellent financial and leadership position not only to weather the crises of 2020, but to use our expertise and experience to help our Members do the same.

We did not expect the pivot that 2020 required us to make. We are profoundly grateful for the connections with and among our Members—connections that have helped us to inspire each other in ways we could not have imagined a year ago. This report highlights our recent work at the intersection of business and society—the current focal point of the world’s attention—and illustrates our ongoing mission: to provide, as always, Insights for What's Ahead, wherever the road may lead.

BY THE NUMBERS

394
Reports
65
Podcasts
41
Conferences
605
Expert Briefings
106
Councils
100
Webcasts
121,698
Unique Visitors
to COVID-19 HUB
300+ Companies
New
MEmbers

SOCIETAL IMPACT

As a nonpartisan, nonprofit entity operating in the public interest since 1916, The Conference Board offers a rich portfolio focused on the greater good. Our investments include our economic indicators, reports, meetings, webcasts, and Councils, and our overall work as a member-driven think tank that delivers trusted insights for what’s ahead. We deliver these insights to our member organizations and the broader business community in such areas as sustainability, corporate philanthropy, social responsibility, education, diversity and inclusion, and sustainable capitalism.

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OUR OFFICES

LETTER FROM THE CFO

Download Financial Report

The Conference Board completed its ninth consecutive year of revenue growth and sixth consecutive year of operating surplus in 2019. Total operating revenue increased $3.7 million, or 5.3 percent, during 2019 as the company continued to focus on improving and expanding its ongoing businesses. Operating expenses increased $1.4 million, or 2.0 percent, during the year to support growth in the recurring revenue base in 2019 and beyond. Operating surplus improved to $2.3 million from breakeven in 2018 behind the combination of growth initiatives and expense controls.

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The company’s recurring revenue grew $1.1 million, or 2.2 percent, to $49.0 million in 2019. In addition, the conference business grew $2.0 million, or 13.7 percent, in 2019 as a result of improved event planning, presentation, and marketing. Grants, contracts, and fee-based services increased $1.4 million in 2019, or 59.8 percent, behind the opening of the Gulf Center in Kuwait. All remaining revenue items were fundamentally unchanged in 2019.

The company continued to reduce risk in its defined benefit pension plan (the “Plan”) behind continued contributions and opportunistic buyout of pension obligations. During 2019, the company contributed $3.9 million to the Plan to increase Plan assets as it had done in 2018. In 2019, the Plan also purchased certain pension obligations from its Plan administrator, MetLife, totaling $15.7 million in exchange for $15.2 million of Plan assets to reduce total benefit obligations under the Plan. In December, the company also amended the Plan to provide for a lump sum buyout for inactive participants during the first half of 2020. The purchase of the obligations in 2019 resulted in a settlement charge of $6.1 million, which was offset by a corresponding increase in pension-related changes other than net periodic costs.

The company’s accumulated deficit improved in 2019 by $1.6 million, thanks to the net effect of the operating surplus and non-operating pension activities and investment returns. Overall liquidity remained strong as of December 31, 2019, as liquid assets totaling $30.7 million represented a 2.7 multiple of current cash obligations totaling $11.5 million.

Jim Slamp
Executive Vice President & CFO

TRUSTEES & ADVISORS

We draw on the support and advice of an extraordinary network of global business leaders. These individuals volunteer their time, their knowledge, and their insights to reinforce the charitable mission of The Conference Board, which is a member-driven think tank that delivers trusted Insights for What's Ahead. Founded in 1916, The Conference Board is a nonpartisan, not-for-profit entity holding 501(c)(3) tax-exempt status in the United States.

Our Board of Trustees is composed of a select group of these business leaders who dedicate themselves to overseeing the business and affairs of The Conference Board. Their function compares to the board of directors of a for-profit company.

Chairman

Ronald A. Williams
Chairman and CEO
RW2 Enterprises, LLC

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Ronald A. Williams

Vice Chairs

George S. Barrett
Former Executive Chairman
Cardinal Health, Inc.

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George S. Barrett

Ilene S. Gordon
Retired Chairman, President and CEO
Ingredion Incorporated

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Ilene S. Gordon

Harry M. Jansen Kraemer, Jr.
Executive Partner
Madison Dearborn Partners

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Harry M. Jansen Kraemer, Jr.

Robert E. Moritz
Chairman
PricewaterhouseCoopers International Limited

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Robert E. Moritz

Edward B. Rust Jr.
Chairman Emeritus
State Farm Mutual® Automobile Insurance Company

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Edward B. Rust Jr.

Susan C. Schwab
Ambassador
Former United States Trade Representative

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Susan C. Schwab

Trustees

Ellen R. Alemany
Chairwoman and CEO
CIT Group

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Ellen R. Alemany

Vicky A. Bailey
Principal
Anderson Stratton Enterprises LLC

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Vicky A. Bailey

Susan Black
President and CEO
The Conference Board of Canada

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Susan Black

Beth A. Brooke-Marciniak
Retired Global Vice Chair, Public Policy
EY

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Beth A. Brooke-Marciniak

Carl Camden
Retired President and CEO
Kelly Services, Inc.

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Carl Camden

Scott DeRue
Edward J. Frey Dean, Stephen M. Ross School of Business
University of Michigan

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Scott DeRue

Roger W. Ferguson, Jr.
President and CEO
TIAA

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Roger W. Ferguson, Jr.

Holly Gagnon
Co-Chief Executive Officer and Chairperson
Artemis Strategic Investment Corporation
President
HGC Hospitality Gaming Consulting

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Holly Gagnon

Pablo González Guajardo
Chief Executive Officer
Kimberly-Clark de México

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Pablo González Guajardo

Jack A. Hockema
CEO and Chairman
Kaiser Aluminum

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Jack A. Hockema

Stephanie Birrell Luedke
Head of Private Wealth Management
Neuberger Berman

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Stephanie Birrell Luedke

Beth E. Mooney
Retired Chairman and CEO
KeyCorp

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Beth E. Mooney

Ronald P. O'Hanley
President and CEO
State Street Corporation

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Ronald P. O'Hanley

Steve Odland
President and CEO
The Conference Board, Inc.

Read Bio

Steve Odland

Camille A. Olson
Partner
Seyfarth

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Camille A. Olson

Maria Sastre
Retired President and Chief Operating Officer
Signature Flight Support Corporation

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Maria Sastre

Liz Hilton Segel
Managing Partner
McKinsey & Company, North America

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Liz Hilton Segel

Gabrielle Sulzberger
Co-Founder and General Partner
Rustic Canyon/Fontis Partners L.P.

Read Bio

Gabrielle Sulzberger

Voting Members


Voting Members are comparable to shareholders in a for-profit organization, except they do not have an ownership interest in The Conference Board, which is a not-for-profit corporation. Most Voting Members are either the current or retired Chief Executive Officer of a member company. The Conference Board Voting Members support our corporate governance by participating in an annual proxy for our Board of Trustees. In accordance with Section 517(a) of the New York Not-for-Profit Corporation Law (NPCL), the Voting Members of The Conference Board shall not be personally liable for the debts, liabilities or obligations of the corporation.

Sanjiv Ahuja
Chairman and CEO
Tillman Global Holdings LLC

Sayid Khalid Bin Hamad Al-Busaidi
Chairman
Sabco Group LLC

Ellen R. Alemany
Chairwoman and CEO
CIT Group

Wayne W. Allen
Retired Chairman and CEO
Phillips Petroleum Company

Mukesh D. Ambani
Chairman and Managing Director
Reliance Industries Ltd.

Daniel P. Amos
Chairman and CEO
AFLAC Incorporated

Johan H. Andresen, Jr.
Owner and Chairman
Ferd Holding AS

C. Michael Armstrong
Retired Chairman and Director Emeritus
Comcast Corporation

Vicky Bailey
Principal
Anderson Stratton Enterprises LLC

Douglas M. Baker, Jr.
Chairman and CEO
Ecolab Inc.

Peter Bakker
President
World Business Council for Sustainable Development

Ajay Banga
President and CEO
MasterCard Worldwide

George S. Barrett
Former Executive Chairman
Cardinal Health, Inc.

Barbara Barrett
President and CEO
Triple Creek Ranch                                   

Alain J. P. Belda
Special Limited Partner
Warburg Pincus LLC

Vance Bell
Chief Executive Officer
Shaw Industries Group, Inc.

Stephanie Birrell Luedke
Head of Private Wealth Management 
Neuberg Berman Investment Advisers LLC

Andrew C. W. Brandler
Former Chief Executive Officer
CLP Holdings Ltd.

Beth A. Brooke-Marciniak
Former Global Vice Chair, Public Policy
EY

Lord Browne of Madingley
Executive Chairman
L1 Energy

Peter C. Browning
Chairman
Nucor Corporation

Kenneth Burdick
Former Chief Executive Officer
WellCare Health Plans, Inc.

Robert L. Burrus, Jr.
Chairman Emeritus
McGuire Woods LLP

Carl Camden
Retired President and CEO
Kelly Services, Inc.

Richard Cavanagh
Director and Senior Advisor
Fremont Group

Emmanuel Chirico
Chairman and CEO
PVH

David Chun
CEO and Founder
Equilar, Inc.

R. Kerry Clark
Director
Textron

Douglas R. Conant
Chairman
Conant Leadership

Ian M. Cook
Former Chairman, President and CEO
Colgate-Palmolive Company

François M.G. Cornélis
Chairman
Bpost

Yannis S. Costopoulos
Honorary Chairman
Alpha Bank

Roger Crandall
Chairman, President and CEO
MassMutual

Bruce Culpepper
Retired U.S. Country Chair and President
Shell Oil Company

Etienne François Davignon
Minister of State, Belgium, Former Vice President
European Commission

Ian E. L. Davis
Chairman
Rolls-Royce Holdings plc
Former Chairman and Worldwide Managing Director
McKinsey & Company

Bert De Graeve
Former Chairman
Bekaert

Roberto F. de Ocampo
Director and Founding Partner
Centennial Group Centennial Asia Advisors

Scott DeRue
Dean, Stephen M. Ross School of Business
University of Michigan

Suppiah Dhanabalan
Former Chairman
Temasek Holdings (Pvt) Ltd.

Samuel Di Piazza, Jr.
Retired Chairman
Mayo Clinic

Bülent Eczacibasi
Chairman
Eczacibasi Holding A.S.

Harald Einsmann
Senior Advisor
Trilantic Capital Partners 

Michael P. Esposito, Jr.
Former Chairman
Syncora Holdings Ltd.

Isidro Fainé Casas
Chairman
LaCaixa

Roger W. Ferguson, Jr.
President and CEO
TIAA

Fred Festa
Former Chairman and CEO
W.R. Grace & Co.

Niall FitzGerald
Chairman
Hakluyt & Company

Vincent A. Forlenza
Executive Chairman
BD

John D. Forsyth
Chairman and CEO
Wellmark, Inc.

Kenneth Frazier
Chairman and CEO
Merck & Co., Inc.

Jacob Frenkel
Former Chairman
JP Morgan Chase International

Daniel Fulton
Retired Chief Executive Officer
Weyerhaeuser

Victor K. Fung
Honorary Chairman
Li & Fung Limited

E. Gordon Gee
President
West Virginia University

Sefi Ghasemi
Chairman, President and CEO
Air Products and Chemicals, Inc.

Gary J. Goldberg
Former President and CEO
Newmont Mining Corporation

Pablo González Guajardo
Chief Executive Officer
Kimberly-Clark de Mexico, S.A.B. de C.V.

Tomás González Sada
Chairman of the Board
Cydsa, S.A. de C.V.

James H. Goodnight
Chief Executive Officer
SAS Institute

Ilene S. Gordon
Retired Chairman, President and CEO
Ingredion Incorporated

Alex Gorsky
Chief Executive Officer
Johnson & Johnson

Alan Greenspan
Former Chairman of
the 
Board of Governors
The Federal Reserve System

John Haley
CEO
Willis Towers Watson

Kathy Hopinkah Hannan
Retired National Managing Partner, Global Lead Partner and Former Vice Chair
KPMG

Richard J. Harshman
Former Chairman, President and CEO
Allegheny Technologies Inc.

Robert Henkel
Former President and CEO
Ascension Health

Zsolt Hernádi
Chairman and CEO
MOL Group

Frances Hesselbein
Chairman and Founding President
Frances Hesselbein Institute

Liz Hilton Segel
Managing Partner
McKinsey & Company

Jack Hockema
Chairman and CEO
Kaiser Aluminium

Ray R. Irani
Chairman and CEO
Ray Investments, LLC

Pablo Isla Alvarez de Tejera
Chairman and CEO
Inditex SA

Larry Jensen
President and CEO
Cushman & Wakefield, Commercial Advisors, LLC

Ole Johansson
Vice-Chairman
Konescrane plc

D. Bryan Jordan
Chairman, President and CEO
First Horizon National Corporation

Harry P. Kamen
Retired Chairman
Metropolitan Life Insurance Company

Gerard J. Kleisterlee
Chairman
Vodafone PLC

William I. Koch
President and CEO
Oxbow Carbon LLC

Richard M. Kovacevich
Retired Chairman and CEO
Wells Fargo & Company

Harry M. J. Kraemer, Jr.
Executive Partner
Madison Dearborn

Richard J. Kramer
Chairman, President and CEO
The Goodyear Tire & Rubber Company

Robert J. Kueppers
Partner
Sage Partners

Mikalel Lilius
Former Chairman
Wärtsilä Corporation and Huhtamäki Oyj

Oscar M. Lopez
Chairman Emeritus
Lopez Holdings

John A. Luke, Jr.
Chairman and CEO
MeadWestvaco Corporation

Antonio Madero
Executive Chairman and CEO
SANLUISRassini, S.A.B. de C.V.

Vikram Malhotra
Chairman of the Americas
McKinsey & Company

Robert E. Mercer
Retired Chairman and CEO
Goodyear Tire Rubber Company

Bhupendra Kumar Modi
Chairman
Smart Global

Beth E. Mooney
Former Chairman and CEO
KeyCorp

Robert Moritz
Chairman
PricewaterhouseCoopers International Ltd.

Stanley A. Motta
Chairman
COPA HOLDINGS, S.A.

Deanna M. Mulligan
President and CEO
Guardian Life Insurance Co.

N.R. Narayana Murthy
Chairman Emeritus
Infosys Limited

Joel Myers
Founder, President and Chairman
Accuweather

Thomas C. Nelson
Chairman, President and CEO
National Gypsum Company

Sir Bryan Nicholson
Retired Chairman
Financial Reporting Council

Lars G. Nordström
Chairman of the Board
Vattenfall AB

Steve Odland
President and CEO
The Conference Board, Inc.

Ronald P. O’Hanley
President & CEO
State Street Global Advisors

Hutham S. Olayan
Retired President and CEO
Olayan America Corporation

Gavin Patterson
Former Chief Executive Officer
BT Group plc

John B. Prescott, A.C.
Former Chairman
Aurizon Holdings Limited

Jason Providakes
President and CEO
MITRE Corporation

John B. Reid AO
Executive in Residence
QUT Business School

Patricia Russo
Chairwoman
Hewlett Packard Enterprise

Edward B. Rust, Jr.
Chairman Emeritus
State Farm Insurance Companies

Güler Sabanci
Chair and Managing Director
Haci Omer Sabanci Holding AS

Maria Sastre
Retired President and COO
Signature Flight Support Corporation

Henry B. Schacht
Special Limited Partner
Warburg Pincus

Susan C.  Schwab
Ambassador
Former United States Trade Representative

Sideh Sedgh Bina
Founding Partner
Insigniam

Scott Serota
President and CEO
Blue Cross and Blue Shield Association

Frederick W. Smith
Chairman and CEO
FedEx Corporation

Venu Srinivasan
Chairman 
TVS Group

Jane Stevenson
Vice Chair, Board and CEO Services
Korn Ferry

Gabrielle Sulzberger
Co-Founder and General Partner
Rustic Canyon/Fontis Partners L.P.

Teong Hean Tan
Chairman
Southern Capital Group Pte Ltd.

Inge Thulin
Chairman, President and CEO
3M Company

Anton van Rossum
Former Director
Crédit Suisse Group

Karel Vinck
Honorary Chairman
Umicore

Marcus Wallenberg
Chairman
SEB 

Miles D. White
Executive Chairman
Abbott Laboratories

Maggie Wilderotter
Retired Executive Chairman 
Frontier Communications Corporation

Keith E. Williams
Former President and CEO
UL

Ronald A. Williams
Chairman and CEO
RW2 Enterprises, LLC

Alexander R. Wynaendts
Chief Executive Officer
AEGON,N.V.

Marjorie Yang
Chairman
Esquel Group

Jaime Augusto Zobel del Ayala, II
Chairman and CEO
Ayla Corporation

Global Counsellors


The Conference Board draws on the support and advice of an extraordinary network of global business leaders. These individuals volunteer their time, their knowledge, and their insights to reinforce the charitable mission of The Conference Board, which is a member-driven think tank that delivers trusted insights for what's ahead.

Select region to jump down page

Asia | Europe | Latin America | Middle East | North America | South America

Asia

Australia

Linda Bardo Nicholls AO
Chairman
Yarra Trams 

John B. Prescott, A.C.
Former Chairman, Aurizon Holdings Limited
Non-Executive Director, Newmont Mining Corporation
Member, Commonwealth Remuneration Tribunal

John B. Reid, A.O.
Executive in Residence
The Australian Centre of Philanthropy and Nonprofit Studies
QUT Business School

Hong Kong SAR

Andrew C.W. Brandler
Chairman, The Kadoorie Family
Former CEO, CLP Holdings Ltd.

Victor K. Fung
Group Chairman
Fung Holdings Ltd.

Sir C K Chow
Former Chairman
Hong Kong Exchanges & Clearing Limited

Marjorie Yang
Chairman
Esquel Group

India

Mukesh D. Ambani
Chairman and Managing Director
Reliance Industries Ltd.

Malaysia

TH Tan
Chairman
Southern Capital Group Pte. Ltd.

Philippines

Roberto F. de Ocampo
Director and Founding Partner
Centennial Group
Chairman
Centennial Asia Advisors 

Oscar M. Lopez
Chairman Emeritus
First Philippine Holdings Corp.

Jaime Augusto Zobel de Ayala II
Chairman and CEO
Ayala Corporation

Thailand

Sukum Navapan
Group Chairman
Navatanee Group of Companies

Europe

Belgium

François M.G. Cornélis
Independent Director, the Board of Directors
BPOST

Etienne François Davignon
Minister of State
GDF Suez
Chairman
Brussels Airlines

Bert De Graeve
Former Chairman
Bekaert

Anton Van Rossum
Former Member of the Board of Directors, Crédit Suisse Group
Former Member of the Supervisory Board, Munich Re

Karel Vinck
Honorary Chairman, Umicore
Chairman, Cumerio

Denmark

Robert Mærsk Uggla
CEO
A.P. Møller Holding A/S

Finland

Ole Johansson
Chairman, Aker Artic Technology Inc.
Member of the Board, Svenska Handelsbanken AB
Chairman, Hartwall Capital

Mikael Lilius
Chairman of the Board, Wärtsilä Corporation
Chairman of the Board of Directors, Huhtamäki Oyj

France

Phillippe Camus
Chairman
Alcatel-Lucent

Germany

Roland Berger
Honorary Chairman
Roland Berger Strategy Consultants

Greece

Yannis S. Costopoulos
Honorary Chairman
Alpha Bank

Hungary

Zsolt Hernadi
Chairman and Chief Executive Officer
MOL Group

 Ireland

Padraig McManus
Chairman
Eircom Ireland

Netherlands

Hans Wijers
Chairman of the Supervisory Board
ING

Norway

Johan H. Andresen, Jr.
Owner and Chairman
Ferd Holding AS

Portugal

Luis Fernando de Mira Amaral
Chairman
Busy Angels, SCR, S.A.
Former President and CEO
Banco BIC Portugal S.A.

Spain

Pablo Isla Álvarez de Tejera
Chairman and CEO
INDITEX

Anna Patricia Botin
Executive Chairman
Banco Santander Central Hispano S.A.

Sweden

Tom Johnstone
Chairman of the Board
HusqvarnaGroup

Lars G. Nordström
Chairman of the Board
Vattenfall AB

Jonas Samuelson
President and CEO
Electrolux Group

Marcus Wallenberg
Chairman of the Board
Skandinaviska Enskilda Banken AB

Switzerland

Peter Bakker
President
World Business Council for Sustainable Development

Juergen Tinggren
Former Executive Member of the Executive Committee of the Board of Directors
Schindler Management Ltd.

Turkey

Bülent Eczacibasi
Chairman, Eczacibasi Holding Company
Chairman, Istanbul Foundation for Culture and Arts

Güler Sabanci
Chairman and Managing Director
Haci Ömer Sabanci Holding A.S.

United Kingdom

Sir Winn Bischoff
Chairman
Financial Reporting Council

Lord Browne of Madingley
Chairman
L1 Energy

Sir Howard Davies
Chairman
Royal Bank of Scotland 

Harald Einsmann
Member of the Advisory Board
Trilantic Capital Partners

Niall FitzGerald
Chairman
Hakluyt & Company Ltd.

Gerard Kleisterlee
Chairman
Vodafone PLC

Sir Bryan Nicholson
Former Chairman
Manpower Services Commission
The Post Office
BUPA
The Cookson Group plc
The Financial Reporting Council
Former President
The Confederation of British Industry

Latin America

Panama

Stanley A. Motta
Chairman
Copa Holdings

Middle East

Kuwait

Hisham Abdulrazzak Al-Razzuqi
Former Chief Executive Officer
Gulf Investment Corporation

Oman

Khalid Bin Hamad Al Busaidi
Chairman
Sabco LLC

North America

Mexico

Tomás González Sada
Chairman of the Board
Grupo Cydsa, S.A. de C.V.

Antonio Madero
Chairman of the Board and CEO
SANLUIS Corporacion S.A. de C.V.

United States

Sanjiv Ahuja
Chairman & CEO
Tillman Global Holdings LLC

Sideh Sedgh Bina
Founding Partner
Insigniam

Kenneth Burdick
Chief Executive Officer
WellCare Health Plans, Inc.

Emanuel Chirico
Chairman and CEO
PVH

Douglas R. Conant
Former Chairman, Avon
Chairman, Kellogg Leadership Institute
Founder and CEO, ConantLeadership
Former CEO, Campbell Soup Company

Robert E. Denham
Partner
Munger, Tolles & Olson LLP

Samuel A. DiPiazza, Jr.
Chairman, Mayo Clinic
Former CEO, PricewaterhouseCoopers
Former Vice Chairman, Citigroup

Jacob A. Frenkel
Chairman, JP Morgan Chase International
Former Governor, Bank of Israel
Former Chairman, Group of Thirty

Daniel Fulton
Retired Chief Executive Officer
Weyerhaeuser

Jeffrey E. Garten
Dean Emeritus
University School of Management

Christina A. Gold
Former President and CEO
Western Union Company

Rajiv L. Gupta
Executive Chairman, Avantor™ Performance Materials
Senior Advisor, New Mountain Capital, LLC

Kathy Hannan
Retired National Managing Partner, Global Lead Partner and Former Chair
KPMG

Larry Jensen
President and CEO
Cushman & Wakefield, Commercial Advisors, LLC

Robert J. Kueppers
Partner
Sage Partners

Mark Leiter
Chief Strategy Officer
Leiter & Company

Vikram Malhotra
Chairman of the Americas
McKinsey & Company, Inc.

Ellen R. Marram
President
Barnegat Group

Hutham S. Olayan
President and CEO
Olayan America Corporation

James W. Owens
Retired Chairman and CEO
Caterpillar Inc.

Henry B. Schacht
Managing Director and Senior Advisor
Warburg Pincus LLC

Anne M. Tatlock
Retired Chairman and CEO
Fiduciary Trust Company International 

Paul A. Volcker
Former Chairman of the Board of Governors
The Federal Reserve System

Maggie Wilderotter
Former Executive Chairman
Frontier Communications Corporation

South America

Brazil

Alain J.P. Belda
Managing Director
Warburg Pincus LLC

 



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