Diane Kenneally
About Diane Kenneally
Diane Kenneally is Chief Financial Officer and Treasurer of The European Equity Fund, Inc. (EEA), serving since 2018; she is 59 years old and a Director at DWS, currently Head of the Fund Administration Treasurer’s Office since 2024 and CFO/Treasurer and Controller of DBX ETF Trust since 2019, with prior tenure as Co-Head of DWS Treasurer’s Office from 2018–2024 . EEA’s proxy does not disclose education or operating performance metrics for officers, and the Fund states it has no employees and does not pay compensation to officers; performance metrics (TSR, revenue, EBITDA) for officer pay are not applicable in EEA’s filings . Kenneally reported no beneficial ownership of EEA securities on her initial Form 3 in 2018, and the 2025 proxy lists “None” for her beneficial ownership, indicating minimal direct equity alignment with the Fund .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DWS Group | Director; Co-Head, Treasurer’s Office | 2018–2024 | Leadership of treasury functions across DWS US registered investment companies |
| DWS Group | Director; Head, Fund Administration Treasurer’s Office | Since 2024 | Oversight of treasury administration and controls for fund complexes |
| EEA (The European Equity Fund, Inc.) | Chief Financial Officer and Treasurer | Since 2018 | CFO/Treasurer of EEA and sister funds; officer elections annually by Board |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DBX ETF Trust | Treasurer, Chief Financial Officer and Controller | Since 2019 | Treasury, financial reporting and control for ETF trust vehicle |
| Various DWS US registered investment companies | Chief Financial Officer and Treasurer | Since 2018 | CFO/Treasurer responsibilities across related DWS-advised funds |
Fixed Compensation
EEA does not compensate officers; they are employees of DWS. The Fund has no employees and therefore no compensation committee. Director fees are disclosed, but officer pay is not applicable for EEA.
| Item | EEA Disclosure | Notes |
|---|---|---|
| Officer compensation paid by EEA | No compensation paid to officers | Officers are compensated by DWS, not the Fund |
| Compensation committee | Not established | Fund has no employees; committee discontinued and not applicable |
Performance Compensation
Not disclosed for EEA officers; EEA pays no compensation to officers, so there are no Fund-level metrics, weightings, targets, payouts, or vesting tied to Diane Kenneally’s compensation in EEA filings .
Equity Ownership & Alignment
| Metric | Value | Date/Source |
|---|---|---|
| Beneficial ownership (shares) | None | May 16, 2025; DEF 14A |
| Initial statement of beneficial ownership | No securities beneficially owned | Form 3 filed 07/27/2018 |
| Officers/directors group ownership | 3,930 shares; <1% of outstanding | As of May 16, 2025 |
| Vested vs unvested shares | Not disclosed | Proxy does not provide officer breakdown |
| Options (exercisable/unexercisable) | Not disclosed | No options reported for officers in proxy |
| Pledging/hedging | Not disclosed | No pledging disclosures for officers in proxy |
| Ownership guidelines | Not disclosed | Fund-level ownership policies for officers not provided |
Employment Terms
| Term | Disclosure | Notes |
|---|---|---|
| Role start date | Since 2018 | CFO & Treasurer at EEA since 2018 |
| Officer election cadence | Officers elected annually by Board | Occurs at meeting following Annual Meeting |
| Employment contract term | Not disclosed | Officers are DWS employees; Fund does not disclose contracts |
| Severance/change-of-control | Not disclosed | No Fund-level severance or CoC economics disclosed for officers |
| Non-compete/non-solicit | Not disclosed | Not provided in proxy |
| Clawbacks/ownership policies | Not disclosed | Not provided in proxy |
Investment Implications
- Compensation alignment: EEA pays no compensation to officers; Kenneally’s pay, incentives, and vesting schedules are at DWS, with no Fund-level performance linkage disclosed—limiting direct pay-for-performance alignment signals for EEA investors .
- Insider pressure: No beneficial ownership reported for Kenneally in 2018 Form 3 and “None” in 2025 proxy, implying minimal insider selling pressure or option-driven timing considerations at the Fund level .
- Retention risk: Officer roles are elected annually by the Board, but employment terms are governed by DWS; absence of Fund-level severance/CoC terms suggests limited Fund exposure to executive contract economics, with continuity dependent on DWS human-capital decisions .
- Governance context: With no employees, EEA’s governance focus is on independent Board oversight and director compensation; officer functions are service-provider driven, making operational execution reliant on DWS infrastructure rather than individual officer incentives within EEA .