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Wednesday, April 12, 2006

New Chair for Independent Directors Council

by: Marie Glancy

In a week when the role of independent directors has been much discussed, the Independent Directors Council announced Wednesday that it has elected a new chairman. Robert Uek, a trustee for the MFS family of funds, will assume the top role at the ICI-affiliated body, of which he has been a member since its inception.

Uek takes over from James Bodurtha, who has been chair of the IDC's governing council since the IDC was founded two years ago to facilitate education, communication and organized public policy input among the almost 3,000 independent fund directors of ICI member companies.

At an IDC meeting last week, Uek thanked Bodurtha for his "tireless efforts" as head of the organization. The council has produced several reports on implementing the independent chair rule and other issues relevant to fund oversight.

Uek is a former senior partner with the investment management unit of PricewaterhouseCoopers, and previously served as chair of the AICPA's committee on investment companies.  

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