On October 24, a member of the EFTF presented the trust agreement and reviewed investment management firms with the Board of Trustees. A summary of that discussion follows.
The Board spent the entire 45 minutes allocated to this topic, mainly focusing on questions about the trust document details. While the Board didn’t express significant concerns about the terms, they decided to take more time and continue the review in the November meeting.
Regarding the selection of an investment management firm, the Board agreed that it would be helpful to involve the three proposed trustees in the discussion. Further discussion took place about how to identify three appropriate initial trustees. It was suggested that the Nominating Committee be brought into this discussion.
At the end of the 45-minute discussion, the Board was okay with the structure of the trust agreement in principle. They expressed gratitude to the EFTF for bringing the recommendations to a stage where the Board can deliberate on them further.
Ron Oshima, EFTF member