William E. Ford
BlackRockAbout William E. Ford
William E. Ford (age 63) is an independent director of BlackRock, serving since 2018, and currently chairs the Management Development & Compensation Committee (MDCC); he also serves on the Nominating & Governance Committee (NGC) and the Executive Committee . He is Chairman and CEO of General Atlantic (since 2007), bringing three decades of global investment management expertise and financial acumen to BlackRock’s board . The Board determined he is “independent” under NYSE listing standards, with no material relationships with BlackRock .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| General Atlantic | Chairman & CEO | 2007–present | Led global growth equity investing; expertise across compensation, governance, financial reporting, strategy |
| IHS Markit Ltd. | Director | 2016–2022 | Not disclosed |
| Royalty Pharma plc | Director | 2020–2022 | Not disclosed |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Rockefeller University | Chair, Investment Committee | Not disclosed (current) | Oversees investment strategy |
| Council on Foreign Relations | Member | Not disclosed (current) | Policy/network expertise |
| Tsinghua Univ. School of Economics & Management | Advisory Board Member | Not disclosed (current) | Global academic advisory |
| Partnership for New York City | Executive Committee Member | Not disclosed (current) | Public-private engagement |
| Center for Strategic & International Studies | Trustee (former) | Not disclosed (prior) | Strategic policy oversight |
Board Governance
| Item | Detail | Evidence |
|---|---|---|
| Independence | Board determined Ford is “independent” under NYSE standards; no material relationships | |
| Committees | MDCC (Chair); NGC; Executive | |
| Committee Meetings (2024) | MDCC: 8; NGC: 6; Executive: 3 | |
| Board Meetings (2024) | Full Board met 10 times; each director attended ≥75% of Board and relevant committee meetings | |
| Annual Meeting Engagement | All directors serving and nominated in 2024 attended; MDCC Chair participated in Q&A on compensation | |
| MDCC Mandate | Oversees CEO/NEO pay, director pay review, clawbacks, human capital strategy, shareholder “say‑on‑pay,” consultant oversight | |
| NGC Mandate | Leads board refreshment, performance reviews, governance policies, related‑party oversight, shareholder engagement on governance/sustainability | |
| Executive Committee Role | Exercises Board powers between meetings; engaged with management on acquisition evaluations in 2024 | |
| Executive Sessions | Seven executive sessions held in 2024, led by Lead Independent Director |
Fixed Compensation (Director Pay) – 2024
| Component | Amount | Notes |
|---|---|---|
| Board Annual Retainer | $88,750 | Blended rate: $85k for first 3 quarters, $100k for Q4 |
| MDCC Chair Retainer | $30,000 | Committee chair fee |
| NGC Member Retainer | $15,000 | Committee member fee |
| Total Fees Earned or Paid in Cash | $133,744 | Ford elected to receive common stock in lieu of cash for $133,744 |
| Policy Update (effective Oct 1, 2024) | Board annual retainer increased to $100,000 | MDCC review with Semler Brossy; implemented changes |
Performance Compensation (Director Equity) – 2024
| Equity Award | Grant Date | Units | Grant Date Fair Value | Vesting & Settlement |
|---|---|---|---|---|
| Annual Equity Grant (Deferred Stock Units) | January 2024 | 300 DSUs | $240,000 | Vests upon election/re‑election at 2024 Annual Meeting; settles in stock generally on earlier of 3rd anniversary or board departure |
| Policy Update (from Jan 2025) | — | — | Annual DSU grant increased to $250,000 | Adopted by MDCC after market study |
Directors do not receive performance‑based bonuses or options; no explicit financial/ESG performance metrics are tied to director compensation beyond equity value alignment through DSUs .
Other Directorships & Interlocks
| Company | Role | Period | Interlocks/Related Notes |
|---|---|---|---|
| IHS Markit Ltd. | Director | 2016–2022 | None disclosed |
| Royalty Pharma plc | Director | 2020–2022 | None disclosed |
| MDCC Interlocks | — | 2024 | MDCC members (incl. Ford) had no interlocks/insider participation requiring disclosure; none were officers/employees of BlackRock |
Expertise & Qualifications
- Senior Executive & Corporate Governance; Financial Services; Global Business; Public Company & Financial Reporting; Risk Management & Compliance .
- Brings three decades of global investing experience as CEO/Chairman of General Atlantic, enhancing board oversight of compensation, governance, strategy, and financial reporting .
Equity Ownership
| Holder | Beneficial Shares | % of Outstanding | Deferred/Restricted Stock Units and Options | Total |
|---|---|---|---|---|
| William E. Ford | 15,409 | * | 873 | 16,282 |
- Directors must own shares valued at a minimum of $500,000 within five years of joining the Board; all directors have met or are on track to meet the guideline .
- Ford elected to receive annual retainers in common stock, further aligning with shareholders .
- Note: In the ownership table, “*” denotes less than 1% of common stock outstanding per proxy footnote .
Governance Assessment
-
Strengths
- Independent status affirmed; no material relationships; MDCC and NGC members designated independent .
- Chairs MDCC with robust remit (clawbacks, HCM oversight, shareholder say‑on‑pay), and authored the MDCC letter outlining pay‑for‑performance philosophy and shareholder engagement plans .
- Attendance/engagement signals: Board met 10 times in 2024; all directors attended ≥75% and the 2024 Annual Meeting; MDCC Chair addressed shareholder questions on compensation .
- Alignment: Retainers optionally taken in stock; annual DSU grants vest upon election; stock ownership guideline of $500,000 promotes skin‑in‑the‑game .
-
Potential Conflicts and Related‑Party Exposure
- Ford is CEO/Chairman of General Atlantic (private equity). The Board’s independence review considered relationships and found no material relationships; NGC oversees related person transactions via a formal policy and approves/ratifies as required .
- MDCC Interlocks: None reported; MDCC members were not BlackRock officers/employees and had no interlocking roles requiring disclosure .
-
Compensation Structure Signals
- Director pay tilted to equity (DSUs), with retainer increases to maintain competitiveness (retainer to $100k; DSU grant to $250k from 2025), maintaining emphasis on deferred equity alignment .
- No options or performance‑metric‑linked pay for directors; alignment is through equity ownership and DSU settlement features .
-
RED FLAGS
- None disclosed regarding low attendance, related‑party transactions involving Ford, hedging/pledging, tax gross‑ups for directors, or option repricing .
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Implications for Investor Confidence
- As MDCC Chair and Executive Committee member, Ford is central to pay governance and strategic transaction oversight, with independent status and equity‑aligned compensation supporting board effectiveness and shareholder alignment .
- Formal related‑party review framework and MDCC independence reduce conflict risk; ongoing shareholder engagement by the MDCC Chair is a positive governance signal .