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New Governance Advisory Panel Named at The Nature ConservancyIndependent Panel to Develop Recommendations for Governance Best PracticesArlington, VA—September 29, 2003—The Nature Conservancy's Board of Governors today announced that a distinguished group of independent, outside experts had agreed to join a new Governance Advisory Panel. The Board in June decided to establish the panel to advise the Conservancy on how best to achieve the organization's goal of being a recognized non-profit sector leader in the areas of governance, transparency and accountability. "This is a panel of six highly-esteemed individuals," said Tony Grassi, the chair of the Conservancy's Board of Governors. "Throughout our recruiting process, we sought exceptional leaders who are experienced in governance, have reputations for integrity and are familiar with the not-for-profit sector. The Board is confident that the panel's recommendations will be of great value to the Conservancy specifically, and the non-profit sector more broadly." The panel will be chaired by Ira M. Millstein, a leader in the area of corporate governance. Support for the panel will be provided Mr. Millstein's firm, Weil, Gotshal & Manges LLP. The panel's first meeting was held late last week. Except for travel expenses, panel members are lending their time and expertise without compensation. "The Nature Conservancy's Board has given the panel wide latitude in determining the scope of our work," said Millstein. "While we will study past practices, the panel's focus will be on the future and producing a set of forward-looking recommendations. We look forward to working with The Nature Conservancy's Board to help establish the standard for non-profit governance, transparency and accountability best practices. This is an especially interesting assignment given the Conservancy's prominence and international scope." "By chartering this panel, The Nature Conservancy's Board is making a strong commitment to improving its governance, transparency, and accountability," said Deborah S. Hechinger, incoming President and CEO of BoardSource, a respected nonprofit organization dedicated to increasing the effectiveness of nonprofits by strengthening their boards of directors and governance structures. "As the backbone of the organization, the board is responsible for ensuring integrity and maintaining alignment to the mission – both fundamental to the public trust. I expect that the panel's recommendations will be of real interest to the nonprofit sector as it continues to define and refine best practices." "Effective governance and accountability to donors and the public are imperative for all nonprofit organizations today," said Diana Aviv, President, Independent Sector, a nonprofit, nonpartisan organization working to promote, strengthen, and advance the nonprofit and philanthropic community to foster private initiative for the public good. "Both require ongoing vigilance and a commitment to evaluation and best practice. We commend The Nature Conservancy's Board of Governors for undertaking this comprehensive review of policies and practices with advice from experts and stakeholders." The panel will make an interim report to the Conservancy's Board of Governors in January. A final set of recommendations will be presented to the Board next Spring. Following the Board's review, the panel's recommendations will be publicly released and posted on The Nature Conservancy's internet site, nature.org. The Governance Advisory Panel members are: Derek C. Bok: Mr. Bok, a former president of Harvard University and Dean of the Harvard School of Law, now serves Harvard as the Chair of the Hauser Center for the study of nonprofit organizations and philanthropy. He is the author of numerous books on higher education, government and executive and professional compensation. Claudine B. Malone: Ms. Malone is President of Financial & Management Consulting, Inc. She serves on the Boards of dozens of top companies, non-profit organizations and academic institutions. She is a former chairman of the Federal Reserve Bank of Richmond, Virginia. James R. McClure: Mr. McClure represented the state of Idaho in the U.S. Senate from 1973 – 1991, and in the U.S. House of Representatives from 1967-1973. During his time in the U.S. Senate, he served as chairman of the Committee on Energy and Natural Resources. Ira M. Millstein: Mr. Millstein is a senior partner of Weil, Gotshal & Manges LLP, an international law firm based in New York City. In addition to practicing law in the areas of government regulation and antitrust law, he has counseled numerous high-profile corporate boards on issues of corporate governance. Mr. Millstein serves as Chairman of the Private Sector Advisory Group to the Global Corporate Governance Forum founded by the World Bank and Organization for Economic Cooperation and Development (OECD), and as Special Advisor on Corporate Governance to the World Bank. He is the Chairman of the Board of Advisors of the International Institute for Corporate Governance at the Yale School of Management. Richard T. Schlosberg III: Mr. Schlosberg is president and CEO of the David and Lucile Packard Foundation, a position he has held since May 1999. Prior to joining the foundation, he served 23 years in the communications business and was publisher and chief executive officer of the Los Angeles Times and executive vice president of The Times Mirror Company. Thomas J. Tierney: Mr. Tierney is the former chief executive of Bain & Company, an international consulting firm, recognized as one of the premier strategy consulting firms in the world. He is also the founder and Chairman of The Bridgespan Group, an independent, non-profit affiliate of Bain & Company designed to provide high-quality consulting services to foundations and non-profit organizations. He currently serves as Chairman of this endeavor. For More Information about The Nature Conservancy’s Strengthened Governance:
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