We expect our employees, officers and directors to conduct themselves according to the highest level of integrity and ethics. Implicit in this philosophy is the maintenance of sound corporate governance. Our Board of Directors provides strong and effective corporate oversight. All outside directors are independent and serve on the Boards of both Adams Diversified Equity Fund and Adams Natural Resources Fund.
The Board oversees the management of the business and affairs of the Funds in accordance with Maryland law and other applicable laws and regulations, in a manner consistent with the best interests of the Funds and their shareholders. In this oversight role, the Board serves as the ultimate decision-making body of the Funds, except for those matters reserved to or shared with the shareholders. The Board selects and oversees the CEO, who is charged by the Board with conducting the business of the Funds.
Ken Dale is a Senior Vice President and the Chief Financial Officer of The Associated Press, one of the largest news gathering organizations in the world. He oversees all corporate finance activities including accounting, financial planning and budgeting, treasury and internal audit. In addition, he is responsible for global real estate, administrative services and procurements as well as AP’s ENPS software business. Prior to joining AP, Mr. Dale was a Vice President in investment banking at J.P. Morgan Chase & Co., Inc., advising clients on mergers and acquisitions and corporate finance transactions.
Director since 2006
Rick Escherich is a Private Investor. During his career, Mr. Escherich was a Managing Director and the head of Mergers and Acquisitions Research and the Financial Advisory Department at J.P.Morgan & Co. Inc. Mr. Escherich’s responsibilities included evaluating numerous issues related to maximizing shareholder value and setting policies and procedures in connection with the valuation of companies, the assessment of various transaction types, analytical techniques and securities.
Director since 2020
Mary Chris Jammet is a Principal with Bristol Partners. She served as Senior Vice President and Portfolio Manager at global asset management firm Legg Mason, Inc. (now Franklin Templeton), where she was responsible for $20 billion in client assets before retiring in 2013. In 2014, she was elected to the Board of Directors of MGM Resorts International. Ms. Jammet is an Audit Committee Financial Expert and, in July 2020, she received a CERT Certificate in Cybersecurity Oversight from Carnegie Mellon University’s Software Engineering Institute. She currently serves as an Advisor to Loyola University Maryland’s Finance Department and is a member of the National Association of Corporate Directors, as well as the Women Corporate Directors Foundation.
Director since 2017
Lauriann Kloppenburg is a retired Chief Strategy Officer from Loomis, Sayles & Company, a privately-owned investment manager. During her 30 years with Loomis, Sayles, she served in a number of roles, including Director of Equity Research, Chief Investment Officer, and a member of the Board of Directors. She is currently a Board member for several entities in the Transamerica Funds group, an adviser to a private family office, and an Executive in Residence at Champlain College.
Director since 2003
Kathleen McGahran previously served as the Non-Executive Chair of the Board from March 19, 2013 to April 21, 2021. She is President Emeritus and the former CEO of Pelham Associates, Inc., an executive education provider. Dr. McGahran has served on the faculties of the Tuck School of Business at Dartmouth College, the Graduate School of Business at Columbia University, and the Stern School of Business at New York University. Dr. McGahran is a member of the Board of Directors for Scor Global Life Reinsurance and Scor Reinsurance of New York.
Director since 2021
Jane Nelson is a retired Managing Director for Cambridge Associates, a global asset manager for endowments, private wealth, and pension plans. She has more than 30 years of experience in traditional and alternative assets and has served in senior management roles at Bain Capital, ING Capital Advisors, and Eaton Vance. She is currently on the Board of Directors of First Eagle Alternative Capital BDC, Inc. and a director of Alcentra, an asset management subsidiary of BNY Mellon. She also advises private family foundations and trusts.
Interested Director
Director since 2013
Mark Stoeckle is the CEO of both Adams Diversified Equity Fund, Inc. and Adams Natural Resources Fund, Inc. Formerly, Mr. Stoeckle was the Chief Investment Officer, U.S. Equities and Global Sector Funds, at BNP Paribas Investment Partners. He has over 30 years of experience in financial services and asset management.
