Board of Director Services

“I am usually only interested in serving on boards of companies that are in some type of critical transition; operational and/or financial distress is almost always a present element.”

I began serving on boards of directors after leaving Salomon Brothers and since then have served on 11 boards. I have served on the boards of both public and private companies and have been a member of various board committees including Executive, Strategic Planning, Audit, Corporate Governance, and Compensation committees. Nine of the boards I have served on were U.S. corporations; the other two were Canadian corporations.I take the responsibilities of corporate governance very seriously. I have found that board service in the context of distress is a time-consuming and intense enterprise. Accordingly, I try not to serve on more than two boards simultaneously (other than a limited amount of overlap occasioned in transition situations). I didn’t start out with this rule, but I’ve come to it from experience over the years.

A brief summary of my board experience:

  • Griffin Gaming & Entertainment. Casino gaming and hospitality. 11/93 to 12/96. (Company sold)
  • Cadillac-Fairview, Inc. Chairman. Commercial real estate. 9/94 to 8/95. (Company sold)
  • Color Tile, Inc. Retail flooring. 8/96 to 6/97. (Company liquidated)
  • Players International, Inc. Casino gaming and hospitality. 9/96 to 2/99. (Company sold)
  • Global Aqua-USA L.L.C. Salmon farming. 1/97 to 11/98. (Company liquidated)
  • Maidenform, Inc. Intimate apparel. 12/97 to 8/04. (Company sold)
  • Grand Union, Inc. Retail grocer. 8/00 to 3/01. (Company liquidated)
  • Algoma Steel, Inc. Integrated steel mill. 3/02 to 5/07. (Company sold)
  • Stockton Pacific Enterprises. Chairman. Pulp mill. 03/04 to 02/05. (Company sold)
  • Kinetics, Inc. Process engineering. Chairman. 12/04 to 04/05. (Assignment completed)
  • The Picture People, Inc. Studio photography. 10/05 to 2/11. (Company sold)