Holger Hatje
About Holger Hatje
Dr. Holger Hatje (age 66) is an independent director of The European Equity Fund, Inc. (EEA) and has served on the Board since 2020; he brings over three decades of European banking leadership, including CEO experience at a large German cooperative bank and senior roles at Dresdner Bank . He currently chairs the Nominating and Governance Committee and serves on the Audit and Advisory & Valuation Committees, and is deemed “independent” by the Board’s Nominating and Governance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Berliner Volksbank eG (Germany) | Chief Executive Officer; Executive Director | CEO 2006–2018; Exec Dir 2005 | Led one of Germany’s largest cooperative banks; operational and risk oversight |
| Oldenburgische Landesbank AG (Germany) | Executive Director | 2004–2005 | Executive management role at regional bank |
| Dresdner Bank AG (Germany) | Senior positions | 1987–2003 | Various senior leadership roles across a global bank |
| Hertha BSC GmbH & Co. | Supervisory Director | 2019–2023 | Governance oversight in major sports organization |
| Various German banking/charitable organizations | Supervisory Director | n/a | Additional governance experience in finance/nonprofit sectors |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| bank99 AG (Austria) | Chairman | Since 2019 | Retail bank governance leader |
| IDEAL Insurance Group (Germany) | Supervisory Board Member | Since 2021 | Insurance sector oversight |
| ABC Bank/ABC Finance/Bank II GmbH (Germany) | Supervisory Board Member | Since 2023 | Financial services oversight |
| The Central and Eastern Europe Fund, Inc. | Director | Since 2020 | SEC-reporting closed-end fund within same family |
| The New Germany Fund, Inc. | Director | Since 2020 | SEC-reporting closed-end fund within same family |
Board Governance
- Independence: The Nominating and Governance Committee concluded all directors other than Ms. Uzcan are independent; all members of Board committees are not “interested persons.” Hatje is therefore treated as independent .
- Committee assignments and chair roles (FY2024 governance year):
- Audit Committee: Member; committee deemed independent and financially literate; committee met 4 times .
- Advisory & Valuation Committee: Member; committee met 2 times .
- Nominating & Governance Committee: Chair; committee met 3 times .
- Board meetings and attendance: The Board held 4 regular meetings; every incumbent director attended at least 75% of Board and committee meetings except one director (Leoni) due to illness (i.e., Hatje met or exceeded the 75% threshold) .
- Declassification: Following a 2024 shareholder vote to declassify, the Board approved a charter amendment in May 2025 to eliminate the classified board over three years (completion targeted by 2028 if approved) .
Fixed Compensation
| Item | FY2023 Program (in effect for FY2024 compensation) | FY2024 Actual Paid (EEA) | FY2024 Total from Fund Complex | FY2025 Program (current) |
|---|---|---|---|---|
| Annual director fee (cash) | $8,000 annual + $1,167 per Board mtg + $917 per Committee mtg ($500 for A&V non‑members) | $12,100.50 (Hatje) | $50,470.11 (Hatje) | $16,333 annual; Chair retainers: Board & A&V $8,000; Audit Chair $1,333; N&G Chair $1,000 |
| Pension/retirement benefits | None provided | — | — | None provided |
Notes: The Fund pays cash retainers and meeting/committee fees (structure updated in 2025 to higher retainer and smaller chair stipends); no pensions or retirement benefits are provided to directors .
Performance Compensation
- The proxy discloses cash fees and chair retainers for directors; it does not disclose equity awards, options, or performance-linked metrics for directors. The Fund states no pension or retirement benefits for directors .
Other Directorships & Interlocks
| Company | Type | Role | Potential Interlock Consideration |
|---|---|---|---|
| The Central and Eastern Europe Fund, Inc. | Closed-end fund (SEC reporting) | Director (since 2020) | Same adviser/administrator family (DWS) as EEA; fund family “best practices” support service on multiple boards; not an “interested person” |
| The New Germany Fund, Inc. | Closed-end fund (SEC reporting) | Director (since 2020) | Same fund family; independence maintained per committee determination |
Expertise & Qualifications
- Financial expertise and governance: Long-tenured European banking executive/CEO; Audit Committee member deemed financially literate by the Board; Nominating & Governance Committee Chair .
- Regional knowledge: Multi-decade operating experience in European banking across Germany and Austria .
- Age and tenure: Age 66; EEA director since 2020 (Class II nominee for term to 2028, subject to declassification process) .
Equity Ownership
| Metric | Value |
|---|---|
| Shares beneficially owned (EEA) | 1,308 shares as of May 16, 2025 |
| Dollar range of holdings (EEA) | $10,001–$50,000 (valuation as of May 16, 2025) |
| Aggregate dollar range (EEA, CEE, GF family) | $50,001–$100,000 |
| Shares outstanding (EEA) | 6,725,724.50 as of May 16, 2025 |
| Ownership as % of outstanding | ≈0.02% (1,308 / 6,725,724.50) |
| Directors and officers as a group | 3,930 shares, <1% of outstanding, as of May 16, 2025 |
Additional note: The Fund elected to be subject to the German Investment Tax Act for FY2024 and encourages all directors (including German residents) to invest in the Fund, which supports alignment within regulatory constraints .
Governance Assessment
- Independence and roles: Hatje is an independent director, chairs Nominating & Governance, and serves on Audit and Advisory & Valuation—positions central to oversight, board refreshment, and valuation controls .
- Engagement: Met or exceeded the 75% attendance threshold; Board held 4 meetings; Audit met 4, Advisory & Valuation met 2, and Nominating & Governance met 3—indicating active committee cadence .
- Compensation structure evolution: Shift from meeting-based fees (2024) to a higher fixed retainer with modest chair retainers (2025) reduces incentives to add meetings and can better align pay with ongoing responsibilities .
- Ownership alignment: Personal holding of 1,308 shares (≈0.02% of EEA outstanding) provides some alignment, though absolute stake is modest given fund size; aggregate board/officer ownership is <1% .
- Interlocks: Concurrent directorships at CEE and New Germany Fund are within the same DWS-advised fund family; the Board’s N&G Committee affirms independence of non‑interested directors and notes best practices encourage multi-board service in fund complexes .
- Shareholder responsiveness: After shareholders approved declassification in 2024, the Board advanced a 2025 charter amendment to declassify over three years—improving director accountability and annual investor voice by 2028 if approved .
- Section 16 compliance: The proxy notes timely filings for required insiders with exceptions for certain individuals (not including Hatje); no delinquency cited for Hatje .
Potential risk indicators and red flags
- Low personal ownership relative to fund size (≈0.02%) may limit economic alignment, though fund directors are typically compensated in cash .
- Multiple fund boards within same complex can concentrate oversight within a sponsor ecosystem; independence is nevertheless affirmed by the Board .
Citations
- Director biography, age, holdings, other SEC-reporting boards:
- Committee memberships, meeting counts, independence conclusions, fee schedule (2025):
- Compensation paid (FY2024 actuals):
- Prior (FY2023 program used for FY2024 payments):
- Family of investment companies and director dollar ranges:
- Shares outstanding/record date:
- Board declassification shareholder action and 2025 charter amendment plan:
- Section 16 compliance note (no Hatje delinquency cited):
- German Investment Tax Act election and director investment encouragement: