George J. Gorman
Chairperson of the Board and Trustee at Eaton Vance Tax-Managed Global Diversified Equity Income Fund
Board
About George J. Gorman
George J. Gorman (born 1952) serves as Chairperson of the Board and independent Trustee of Eaton Vance Tax‑Managed Global Diversified Equity Income Fund (EXG). He has been a Trustee since 2014 and Chairperson since 2021, and is designated a noninterested (independent) Trustee under the Investment Company Act of 1940 . His background includes senior public accounting leadership as a former Senior Partner at Ernst & Young LLP and current Principal at George J. Gorman LLC (consulting) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ernst & Young LLP | Senior Partner | 1974–2009 | Public company audit leadership; qualifies as audit committee financial expert |
| George J. Gorman LLC | Principal | Current | Consulting; governance and oversight expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed in past five years |
Board Governance
- Board composition: ten noninterested (independent) Trustees; Gorman is the Board Chairperson, presiding over agendas and acting as liaison with service providers between meetings .
- Term/class: EXG Class II Trustee with current term expiring in 2026; Trustee since 2014; Chairperson since 2021 .
- Committee memberships: Audit Committee member; designated “audit committee financial expert” alongside Scott E. Wennerholm; Audit Chair is Wennerholm. All Audit Committee members are NYSE‑independent .
- Attendance: In FY ended Oct 31, 2024, each Trustee attended at least 75% of Board/Committee meetings on which they served; none of the Trustees attended the Funds’ 2024 Annual Meeting of Shareholders .
- Independence and retirement policy: All current Trustees are noninterested; retirement policy requires resignation by July 1 following 76th birthday or (with limited exception) by Dec 31 of the 20th year of service, subject to compliance needs .
Board and committee activity (FY ended Oct 31, 2024):
| Body | Meetings Held |
|---|---|
| Board of Trustees | 9 |
| Audit Committee | 10 |
| Contract Review Committee | 5 |
| Governance Committee | 4 |
| Portfolio Management Committee | 7 |
| Compliance Reports & Regulatory Matters Committee | 8 |
| Closed‑End Fund Committee / predecessor Ad Hoc Committee | 1 / 10 |
Audit oversight:
- Auditor: Deloitte & Touche LLP selected as independent registered public accounting firm; Audit Committee maintains pre‑approval policies for all audit and non‑audit services and annually reviews independence .
- EXG audit/non‑audit fees:
Period Audit Fees Audit‑Related Fees Tax Fees All Other Fees Total FY Oct 31, 2024 $81,200 $0 $0 $0 $81,200 FY Oct 31, 2023 $83,000 $0 $0 $1,000 $84,000
Fixed Compensation
Trustee compensation structure (retainer schedule across the Eaton Vance fund complex):
| Component | Amount |
|---|---|
| Annual Trustee Retainer | $325,000 |
| Additional Retainer – Chairperson of the noninterested Trustees | $150,000 |
| Committee Service Retainer | $82,500 |
| Additional Retainer – Serving on ≥4 Committees | $15,000 |
| Additional Retainer – Committee Chair | $35,000 (split if Co‑Chairs) |
| Out‑of‑pocket expenses | Reimbursed |
Compensation earned (calendar year ended Dec 31, 2024; fiscal amounts shown per fund):
| Fund | Compensation Earned |
|---|---|
| EXG (Tax‑Managed Global Diversified Equity Income Fund) | $13,665 |
| Total from Fund Complex | $545,000 |
Notes:
- Trustee compensation is cash retainer‑based; EXG does not disclose equity grants, options, or meeting fees for Trustees .
- Deferred compensation: footnotes indicate deferred amounts for certain Trustees; no deferred amounts noted for Gorman in EXG’s per‑fund lines .
Performance Compensation
- No performance‑based pay, stock awards (RSUs/PSUs), options, or formula‑based incentives are disclosed for EXG Trustees; compensation is fixed retainer with committee and chair adders .
Other Directorships & Interlocks
| Area | Disclosure |
|---|---|
| Other public company boards | None disclosed for past five years |
| Shared directorships with competitors/suppliers/customers | Not disclosed |
| Prior public company boards | Not disclosed |
Expertise & Qualifications
- Audit/accounting expertise: Former Senior Partner at Ernst & Young; designated audit committee financial expert by the EXG Board .
- Fund governance: Serves across the Eaton Vance fund complex (123 funds overseen as of May 27, 2025) as a noninterested Trustee, indicating breadth of investment company governance experience .
- Leadership: Board Chairperson role encompasses agenda setting, presiding, and liaison functions with management and service providers .
Equity Ownership
| Item | Amount |
|---|---|
| Beneficial ownership of EXG | None reported for Trustees other than Mr. Quinton; Gorman does not beneficially own EXG shares as of May 27, 2025 |
| Aggregate beneficial ownership in Eaton Vance family of funds overseen | Over $100,000 (may include deferred compensation units) |
| Pledged shares | Not disclosed |
| Compliance with stock ownership guidelines | Not disclosed (no guidelines disclosed) |
Governance Assessment
- Strengths:
- Independent Board Chair with deep audit background; designated audit committee financial expert, enhancing financial oversight quality .
- Robust committee cadence and formal Audit Committee charter with pre‑approval and independence controls; EXG incurred no non‑audit fees in FY2024, supporting auditor independence .
- All Trustees are noninterested (independent), and EXG’s governance framework includes a formal retirement policy to maintain Board refreshment .
- Alignment and engagement considerations:
- No personal EXG share ownership disclosed for Gorman; while common for investment company Trustees, this reduces visible “skin‑in‑the‑game” alignment specific to EXG (caution) .
- None of the Trustees attended the Funds’ 2024 Annual Meeting of Shareholders, which can be perceived as lower direct shareholder engagement (red flag) .
- Compensation structure signals:
- High, largely fixed cash retainer plus chair/committee adders ($545,000 total in 2024), with no performance metrics or equity at risk; appropriate for registered fund governance but offers limited pay‑for‑performance linkage (neutral signal for EXG) .
RED FLAGS
- No attendance at 2024 Annual Meeting by any Trustee .
- No EXG‑specific share ownership disclosed for Gorman (alignment caution) .
Neutral/Positive Signals
- Auditor independence preserved with zero non‑audit services to EXG in FY2024; Audit Committee structure and pre‑approval policies in place .
- Independent Chairperson with audit expertise; Board composed entirely of noninterested Trustees .