Robert Agdern
About Robert D. Agdern
Independent director since 2015; birth year 1950; serves on the Nominating, Audit, Compensation, and Pricing & Valuation Committees, and is designated Compliance Liaison . Classified as a non‑interested (independent) director; the BWG board comprises eight directors with seven independent, chaired by independent director Eileen A. Kamerick .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kellogg Graduate School of Business, Northwestern University | Member, Advisory Committee of the Dispute Resolution Research Center | 2002–2016 | Governance/ethics advisory experience |
| BP PLC | Deputy General Counsel (western hemisphere matters) | 1999–2001 | Senior legal leadership in global energy |
| Amoco Corporation | Associate General Counsel (corporate, chemical, refining & marketing; special assignments) | 1993–1998 | Legal oversight; Amoco merged with BP in 1998 |
External Roles
| Organization | Role | Status |
|---|---|---|
| Franklin Templeton fund complex | Investment company directorships | Oversees 17 portfolios as BWG director (complex-wide) |
| Other public company boards (past five years) | — | None disclosed |
Board Governance
- Committee assignments: Nominating; Audit; Compensation; Pricing & Valuation; Compliance Liaison .
- Audit Committee membership; committee met five times in FY ended Oct 31, 2024; Nisha Kumar serves as audit chair and AC financial expert .
- Nominating Committee membership; seven meetings in FY 2024; chaired by Hillary A. Sale .
- Pricing & Valuation Committee membership; four meetings in FY 2024; chaired by Carol L. Colman .
- Compensation Committee membership; one meeting in FY 2024; chaired by Peter Mason .
- Attendance: each director attended at least 75% of board and committee meetings in FY 2024 .
- Governance structure: independent Chair (Eileen A. Kamerick); independent directors meet in executive session with independent counsel .
Fixed Compensation
| Component | FY Ended 10/31/2024 | CY 2024 (Fund + Fund Complex) |
|---|---|---|
| Aggregate compensation from BWG (cash) | $8,245 | — |
| Total compensation across Franklin Templeton fund complex | — | $466,000 |
| Directorships count (complex) | 17 | 17 |
| Pension/retirement benefits | None provided by BWG | — |
Performance Compensation
- No performance-linked director pay disclosed; Compensation Committee recommends independent director pay; no meeting-based variable pay disclosed; BWG does not provide pension/retirement benefits to directors .
Other Directorships & Interlocks
| Entity | Role | Notes |
|---|---|---|
| Franklin Templeton fund complex | Director across multiple registered investment companies | 17 investment company directorships; typical for complex governance; non‑interested (independent) status at BWG |
| External public companies | — | None disclosed |
| Adviser/affiliates interest | — | No interest in FTFA or entities under common control with Franklin Templeton as of Dec 31, 2024 |
Expertise & Qualifications
- Legal and compliance expertise from senior roles at BP and Amoco; experience in dispute resolution governance through Kellogg advisory committee .
- Active compliance oversight at BWG as Compliance Liaison; participates in audit oversight and signed the Audit Committee report recommending inclusion of audited financials .
Equity Ownership
| Holding | Amount |
|---|---|
| Dollar range of BWG fund shares | A = None |
| Aggregate dollar range across all related funds overseen | D = $50,001–$100,000 |
| Group beneficial ownership (directors & officers) | <1% of BWG common and preferred shares as a group |
| Pledging/related-party interests | No interest in adviser or affiliates; no pledging disclosed |
Governance Assessment
- Positives: Independent director; extensive legal/compliance background suited for risk oversight; active service across all key BWG committees; designated Compliance Liaison; participation in audit oversight (signatory to Audit Committee report) supports investor confidence .
- Watch items: No direct BWG share ownership (Dollar Range “A”), which may limit fund‑specific alignment despite broader complex holdings ($50k–$100k); high total complex compensation ($466k) and 17 concurrent fund directorships could raise time‑commitment questions; attendance threshold disclosure is “≥75%” rather than exact rate .