Governance Committees

Governance advisory committee involvement is a key LAEDC member benefit available to those who are at the Industry Leader or above member level. The Committees oversee the performance of the Board and manage compliance to the organization's mission, and ensure the constant health and effectiveness of the Board and the work it performs.

For more information on Governance committees, please contact Eydie Galper at (213) 236-4828 or , or Gina Barro at (213) 236-4815 or

Audit

Assists in the supervision of the LAEDC’s internal operations, financial reporting, internal audit system and implementation, and information disclosure, to ensure transparency and accuracy, to enhance the company’s efficiency and to build confidence of the members in the quality of the financial reporting and systems.  The Committee is responsible for the selection of the independent external auditors and receipt of the audit results. Meeting frequency is three times per year.

Chair: Jim Siegfried, Pricewaterhouse Coopers

Finance

Ensures the long-term financial stability of the organization. The Committee is responsible for oversight of investments and management of property. This Committee works closely with the Chief Financial Officer of the LAEDC in making recommendations to the Board about asset management, investment, debt management, indemnification, and other aspects of risk management. Members of this Committee usually have experience in finance and can lend perspective to the organization in investment counseling, adherence to investment policy, and cost effectiveness of investment funds and programs.  Meeting frequency is quarterly with ad hoc meetings occasionally convened.

Chair: Lloyd Greif, Greif & Co.
Staff Lead: Susan Stel, CFO and Treasurer, LAEDC

Governance and Compensation

Oversees executive compensation as delegated by the Board of Directors which includes setting compensation for the Chief Executive Officer, recommending base salary, bonus and other remuneration for officers, and providing input to the CEO regarding equity compensation for senior management, all to ensure the attraction, retention and appropriate performance-based reward to executive officers and senior management. The Committee has the responsibility to periodically review the compensation strategy of the LAEDC in order to align organizational strategies, goals, and performance with appropriate compensation rewards for the Chief Executive Officer and executive management. The committee may recommend to the Board of Directors, as appropriate, new incentive plans, and amendments to existing plans. Meeting frequency is a minimum two times per year.

Chair: Ray Holdsworth, AECOM
Vice-Chair: Roy Hearrean, SWI Group

Nominating

Prepares a slate of candidates for membership and Board offices. Terms of membership are staggered, to enhance decision-making. The Committee has the responsibility of nominating; final appointment to the Board requires a full-Board vote. The Committee is responsible for the stewardship of members, assessing the mix of characteristics and constituency representations on the current Board and identifying future recruitment needs. Meeting frequency is a minimum four times per year.  

Chair: Ray Holdsworth, AECOM