The NACD Directorship 100 Corporate Governance Hall of Fame was created in 2008 to recognize the outstanding achievements of select individuals who have had a lasting influence on corporate governance and the boardroom community. This year’s roster is comprised of boardroom, legal and business leaders who have made an indelible contribution to the advancement of good corporate governance. We salute them.
Ann M. Fudge
Ann M. Fudge’s rise through the corporate ranks made her one of the most influential— and one of the youngest— decision makers in American business. Her unique blend of business intelligence and respect for her personal life made her a mentor. Fudge began her career at General-Mills as a marketing assistant in 1977 and was a director of marketing by 1983. Moving to Kraft in 1986, she became known for reviving older brands. Fudge was promoted to executive vice president of the company, but retired in 2000 to devote more time to her family. Three years later, she returned to work as chairman and CEO of Young and Rubicam Brands before retiring in 2005. She now serves as an independent director on the boards of General Electric, Novartis AG and Unilever PLC and is an independent non-executive director of Unilever NV. She is slated to join the board of Infosys in October.
The NACD Directorship 100:
Governance Professionals and Institutions
NACD 2011 Public Company Director of the Year and B. Kenneth West Lifetime Achievement Award Winners
Norman (Norm) R. Augustine
To say that Norman (Norm) R. Augustine has made his mark would be a vast understatement. The retired chairman and CEO of Lockheed Martin Corp., the nation’s largest defense contractor, and a former under secretary of the Army, Augustine is recognized for his national leadership in technology. He also served as chairman and principal officer of the American Red Cross for nine years in addition to being on many boards of directors. Augustine has received more than 20 honorary degrees and was awarded the National Medal of Technology and the U.S. Department of Defense’s highest civilian award, the Distinguished Service Medal, which was given to him five times. In addition to Lockheed Martin, his current and former board service includes ConocoPhillips, Black & Decker and Procter & Gamble, and in the nonprofit sector, the NACD, and others too many to list.
Harvey L. Pitt
Now the founder and CEO of Kalorama & Partners, an international business advisory practice, and Kalorama Legal Services, Harvey L. Pitt served as the 26th chairman of the Securities and Exchange Commission from 2001-2003. During his tenure, he led the SEC in restoring the U.S. securities markets to full operations after the terrorist attacks of September 11th. Pitt also instituted a policy of “real-time enforcement” to make the SEC’s enforcements efforts more effective. He worked to reconcile the demands of accountants, financial services firms, public companies, institutional shareholders, legislators and stockholders with legislation such as the Sarbanes-Oxley Act. Prior to his tenure as chairman, he was a partner of Fried, Frank, Harris, Shriver & Jacobson.
John (Jack) F. Welch Jr.
Known for his unique and effective leadership style, John (Jack) F. Welch Jr. the legendary chairman and CEO of General Electric, began his career at GE as a junior chemical engineer in 1960, the same year he finished his PhD. He worked his way up the ranks to become CEO in 1981. Welch was known for firing the bottom 10 percent of his managers annually, while greatly rewarding the top 20 percent. During his tenure, the number of GE employees greatly decreased while annual revenue increased immensely. In 1986, with the acquirement of RCA, Welch shifted GE’s business from manufacturing to financial services through numerous acquisitions. When Welch left GE, the company’s recorded revenues were more than $410 billion, making it at the time the most valuable and largest company in the world. Now a bestselling author and special partner at Clayton Dubilier & Rice, Welch tweets and blogs about business and sports at The Welch Way, the website developed by he and his wife, Suzy Welch.
Warren E. Buffett, Charles (Charlie) T. Munger
Warren E. Buffett is a legend for his self-made success. The “Oracle of Omaha” showed interest in the stock market and making money from a young age. Shortly after graduating from Columbia where he was taught by the venerated value investor, Benjamin Graham, he founded the Buffett Partnership and his investment success, particularly in buying undervalued companies whose stocks began to rise, made him extremely wealthy. He later converted his fund into a public stock corporation and created one of the most established records of out-performing the S&P 500. Buffet is respected for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. In 2006, he announced that he would give 99 percent of his fortune to philanthropic causes, mostly to the Bill and Melinda Gates Foundation.
Charles (Charlie) T. Munger, the vice-chairman of Berkshire Hathaway, has been described by Buffett as “my partner.” Although Munger is better known for his work with Buffett, he ran an investment partnership of his own from 1962-1965. As the chairman of Wesco Financial Corp., now a wholly owned subsidiary of Berkshire Hathaway, he controls an equity portfolio of more than $1.5 billion. Munger is known as a generalist for whom investment is only one of a broad range of interests and does not involve himself in the day-to-day operations of Berkshire. An avid philanthropist, he also writes and speaks about business philosophy.
Class of 2010
H. Rodgin Cohen
Edward A. Kangas
Alan G. Lafley
Carol J. Loomis
Paul A. Volcker
Class of 2009
Jay W. Lorsch
Martin Lipton
Pearl Meyer
Thomas J. Neff
Class of 2008
John C. Bogle
William G. Donaldson
Arthur Levitt
Ira M. Millstein
Robert A. G. Monks
Paul Sarbanes
Michael Oxley
To register for the NACD Directorship 100 gala dinner and forum, please click here.