Summary by Futu AI
MSCI announced the appointment of Michelle Seitz as an independent director to its Board of Directors, effective August 5, 2024. Seitz will serve on the Board's Audit and Risk Committee, bringing the total board membership to 12 directors. As per the non-employee director compensation program, she will receive an annual retainer of $90,000 and restricted stock units worth $210,000, plus an additional $10,000 for committee service.Seitz brings extensive investment industry experience as the current Founder and CEO of MeydenVest Partners and former Chair and CEO of Russell Investments (2017-2022). Her prior experience includes leadership roles at William Blair, where she served as CEO of William Blair Investment Management and drove fivefold growth. She currently serves on the board of Sana Biotechnology and holds a CFA designation.The appointment follows an extensive search initiated last year, with MSCI Chairman and CEO Henry Fernandez highlighting Seitz's three decades of asset management experience and track record in driving transformational growth. The Board has confirmed her independence under both NYSE and SEC standards.