November 29, 1994
TO: BOARD OF GOVERNORS No. 120-94
RE: Nomination of Independent Directors to Serve on the Board
of Governors
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In the 1970Gs, the Board of Governors of the Institute
adopted a policy of having up to three "disinterested
directors" of member fund groups serve on the Board of
Governors. Nominees for "disinterested director" seats were
selected from among directors of groups represented on the
Board.
Last year the Board adopted a policy of limiting to two the
number of terms that a "disinterested director" could serve
so that Board service opportunities could be spread more
broadly among the membership. In order to accomplish the
objective of broader participation, the Nominating
Committee is soliciting member groups serving on the current
or immediate past Board for suggested nominees. Please send
to Dick Pogue, (ICI, 1401 H St., NW, Washington, DC 20005-
2148 or Fax: 202/326-5806) your suggestions for a
"disinterested director" for consideration by the Nominating
Committee. Please include with your suggested nominee
brief biographical information along with your thoughts
about the qualities that person would bring to the Board of
Governors.
These suggestions will be used by the Nominating Committee
when it formulates recommendations for Governor nominees to
be presented to the Board at its May meeting.
John F. Cogan
Chairman, Designate
1995 Nominating Committee