Seen in an American Academy of Actuaries press release:
The American Academy of Actuaries announced that its members elected four new regular directors today at its annual meeting in Boston. The new regular directors will serve on the organization’s board of directors.
Mary D. Miller, a property/casualty actuary with the Financial Regulation Division of the Ohio Department of Insurance, David Neve, the vice president of corporate valuation for Aviva USA in Des Moines, Iowa, and Tom Wildsmith, a consulting actuary with the Hay Group in
Arlington, Va., were elected to three-year terms.Ron Gebhardtsbauer, who is the faculty-in-charge of the Actuarial Science Program at the Pennsylvania State University, was elected to serve a one-year term that was vacated by Art Panighetti on Oct. 20 when he was elected by the American Academy of Actuaries board of directors as the new vice president of its Life Practice Council.
So, what about the proxy battle?
Attendees reported at the Actuarial Outpost that the question of whether it was appropriate for the Board to unilaterally reduce the number of member-elected board seats by one position was ruled out-of-order. Tom Bakos’s name was placed into nomination. The Academy received approximately 1000 proxies, while supporters of Tom received approximately 300 proxies. Tom received votes from approximately half those in attendance, but that was insufficient to overcome the Board’s proxy collection.
The outcome isn’t surprising, but it did provide a venue for supporters of a petition drive to make their case for amending Academy Bylaws for contested, direct election of all members and officers.
I’ve shared my thoughts on that petition drive previously. In a nutshell, I think it is a good idea, and I would encourage Academy members to review the proposal and sign the petition.
