As chief financial officer of the National Association of Corporate Directors, Peter Gleason manages a rather small budget of roughly $10 million, most of which comes from member directors' dues. His more important role is arguably that of peacemaker, as he tries to help broker communication between corporate boards and their shareholders.
It won't be an easy task. Although increasingly empowered shareholders have been pressuring boards to meet with them on everything from say-on-pay to proxy access to global warming reforms, the historically closed-off boardroom has been tough to crack. Directors' worries about running afoul of Reg FD, which prohibits selective disclosure of potentially market-moving information, has only exacerbated the communication breakdown.
After performing the CFO job at NACD for seven years without having the title, Mr. Gleason was officially named CFO in January, in a move that reflects the organization's growth. Since he joined NACD in 2001, the non-profit has ballooned from 1,800 members to 10,000, including 600 full boards of directors.
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