NACDNE News

January 20, 2012

NACD New England Announces 2012 Director of the Year Award Recipients


NACD New England says honorees set the standard for excellence

BOSTON – January 20, 2012 – The National Association of Corporate Directors New England Chapter (NACDNE) today announced the recipients of the 2012 Director of the Year Awards. NACDNE is the leading source in New England for corporate governance information, education and training for directors and CEOs who are committed to raising standards and improving boardroom performance. Each year,  NACDNE recognizes board members and boards from public, private and nonprofit organizations who exemplify the leadership qualities of an excellent director. NACDNE will present the awards to the recipients at a formal recognition ceremony on March 29 at the Seaport Hotel in Boston.

This year, NACDNE is pleased to recognize three individual board members and two boards that uphold the highest professional standards for corporate governance while maximizing shareholder and customer value. In a time of ongoing economic uncertainty and in the wake of new boardroom regulations, implemented as a result of the Dodd-Frank legislation, high performing boards are more important than ever.

“NACDNE’s Director of the Year Awards honor champions of corporate governance who have shown they are the building blocks upon which the New England region’s success is based,” said William A. Earon, president of NACDNE. “In today’s ever-changing and challenging business environment, it is more important than ever to recognize those who provide effective oversight and strive to deliver exemplary board performance.”

More than 40 New England directors worked collaboratively to determine the slate of Honorees. This year’s honorees include:

− Lifetime Achievement Award: Terrence Murray, Retired Chairman and CEO of FleetBoston Financial Corporation; Director of CVS Corporation; former Director of A. T. Cross Company, Allmerica Financial Corporation, and Partners HealthCare Systems in Boston; and Honorary Trustee of the Museum of Fine Arts in Boston.

− Leadership in Public Corporate Governance Award: Basil Anderson, Retired Vice Chairman of Staples, Inc., Director of Becton, Dickinson & Company, Hasbro, Inc., Moody’s Corporation, and Staples, Inc.

− Leadership in Non-Profit Governance Award: Sandra Edgerley, Director, Boys and Girls Clubs of Boston, Horizons for Homeless Children, the United Way of Massachusetts Bay and Merrimack Valley, and Be The Change. Trustee, The Boston Foundation, The Meadowbrook School of Weston and Noble and Greenough School.

− Public Company Board of the Year: State Street Corporation, Joseph (Jay) L. Hooley, Chairman, President and Chief Executive Officer; Kennett F. Burnes, Lead Director; Peter Coym, Dame Amelia C. Fawcett, David P. Gruber, Linda A. Hill, Robert S. Kaplan, Charles R. LaMantia, Patrick de Saint-Aignan, Richard P. Sergel, Ronald L. Skates, Gregory L. Summe, and Robert E. Weissman.

− Private Company Board of the Year: Liberty Mutual Insurance Group, Edmund F. Kelly Chairman, David H. Long, President and Chief Executive Officer; Michael J. Babcock, Charles I. Clough, Jr., Gary L. Countryman, Nicholas M. Donofrio, Frank A. Doyle, III, John P. Hamill, Marian L. Heard, John P. Manning, Thomas J. May, Stephen F. Page, Ellen A. Rudnick, Martin P. Slark, William C. Van Faasen, and Annette M. Verschuren.

“We are delighted to receive this recognition from the NACD,” said Jay Hooley, Chairman, President and CEO of State Street Corporation. “Evolving regulations as well as volatile financial markets have united to create a new environment that makes the task of strategic planning more crucial than ever before. At State Street, we believe that within these challenges we can find opportunities to continue building the long-term value of our organization.”

“I’m honored to be among this distinguished group of award recipients who are being recognized for their focus on effective board leadership,” said Terry Murray, retired Chairman and CEO of FleetBoston Financial Corporation. “I believe a critical element of exemplary board governance is an individual’s ability to tap into unparalleled real world experience to provide wise observations about situations pertinent to the company’s overall performance, and to manage challenges that arise with a mature, business-focused mindset. In the face of new board challenges tied to the evolving business landscape, this proven quality will continue to stand the test of time.”

In addition to the board members and boards recognized at this year’s ceremony, NACDNE will honor distinguished philanthropist Myra H. Kraft, who passed away in 2011, with a special award. “This award is a special recognition for a very special person. Myra H. Kraft was the epitome of leadership by example,” said R. Robert Popeo, President Elect of NACDNE. “Her activities for the under privileged or underrepresented were exemplary and reflected how she lived her life and raised her family. She gave her wisdom, her wealth, and her energy to those who were most in need.”

The Sixth Annual NACD New England Chapter’s Director of the Year Awards event recognizes leadership and accomplishment of directors. This event is conducted by the only not-for-profit membership organization founded by and for corporate directors. Through the national presence in Washington, D.C. and more than 20 active regional chapters across the country, the NACD is the leading organization dedicated to enhancing corporate governance in the United States. The NACD Director of the Year Award has been presented nationally for over 20 years.

The National Association of Corporate Directors (NACD) is a not-for-profit membership organization devoted exclusively to improving director and board effectiveness in fulfilling their obligation to ensure shareholder and stakeholder value. With more than 2,500 directors and business leaders throughout New England, the New England Chapter of the NACD (NACDNE) remains among the most active in the country. Learn more about NACDNE membership and general governance information online at www.nacdne.org.