Peter Mason
About Peter Mason
Peter Mason (birth year 1959) is an independent Class I Director of Western Asset Global Corporate Opportunity Fund Inc. (NYSE: GDO), effective November 15, 2024, and serves as Chair of the Compensation Committee; he also sits on the Nominating, Audit, and Pricing & Valuation Committees . Mason is an arbitrator and mediator (since 2021) and formerly served as Global General Counsel of UNICEF (1998–2021); he oversees 17 portfolios across the Franklin Templeton fund complex, and is classified as a non‑interested (independent) director under the Investment Company Act and NYSE standards .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| UNICEF | Global General Counsel | 1998–2021 | Legal and managerial leadership in a global NGO |
| Self-employed | Arbitrator and Mediator | Since 2021 | Alternative dispute resolution practice |
External Roles
| Organization | Role | Start Year | Type |
|---|---|---|---|
| University of Sydney USA Foundation | Chairman | 2020 | Non-profit foundation board |
| Radio Workshop US, Inc. | Director | 2023 | Non-profit/media organization |
Board Governance
- Independence and composition: The Board has eight directors, seven of whom are Independent; committees (Audit, Nominating, Compensation, Pricing & Valuation) are composed entirely of Independent Directors and chaired by Independent Directors .
- Leadership: Eileen A. Kamerick (Independent) serves as Chair of the Board and leads executive sessions; Independent Directors regularly meet outside management and are advised by independent counsel .
- Committee assignments for Mason: Member—Nominating, Audit, Pricing & Valuation; Chair—Compensation Committee .
- Attendance: In FY ended Oct 31, 2024, the Board held four regular meetings and one special meeting; each Director (serving during FY2024) attended at least 75% of Board and committee meetings for which eligible; no Director attended the 2024 Annual Meeting. Mason’s Board service began November 15, 2024 (post‑FY) .
Committee Meetings – FY2024
| Committee | FY 2024 Meetings |
|---|---|
| Audit | 5 |
| Nominating | 7 |
| Pricing & Valuation | 4 |
| Compensation | 1 |
Fixed Compensation
| Component | FY 2024 (Fund) | CY 2024 (Fund Complex) |
|---|---|---|
| Aggregate compensation ($) | $0 | $32,989 |
- The Fund provides no pension or retirement benefits to Directors .
Performance Compensation
| Item | FY 2024 | Notes |
|---|---|---|
| Performance-based pay elements for Independent Directors | Not disclosed | Compensation Committee’s role is to recommend appropriate compensation for service on the Board and its committees; proxy provides totals rather than performance-linked metrics |
Other Directorships & Interlocks
| Company/Organization | Public Company? | Role | Overlap/Interlocks |
|---|---|---|---|
| University of Sydney USA Foundation | No | Chairman | None disclosed with GDO counterparties |
| Radio Workshop US, Inc. | No | Director | None disclosed with GDO counterparties |
Expertise & Qualifications
- Legal and managerial experience; former global general counsel; dispute resolution expertise (arbitration/mediation) .
- Oversight across 17 portfolios in the fund complex (broad governance exposure) .
Equity Ownership
| As of Dec 31, 2024 | Dollar Range in GDO | Aggregate Dollar Range across Funds Overseen |
|---|---|---|
| Peter Mason | A (None) | A (None) |
Note: Dollar ranges—A = None; B = $1–$10,000; C = $10,001–$50,000; D = $50,001–$100,000; E = Over $100,000 .
Insider Filings Compliance
| Item | Period | Status |
|---|---|---|
| Section 16(a) ownership/change filings | FY ended Oct 31, 2024 | All filing requirements met for the Fund’s directors and officers (Fund-wide) |
Governance Assessment
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Strengths
- Independent director with core committee roles; chairs Compensation Committee—aligns with governance best practice of independent oversight of director pay .
- Board governance framework features an Independent Chair, executive sessions, and independent counsel—supports effective oversight .
- Audit Committee chaired by an “audit committee financial expert” (Nisha Kumar) and composed entirely of Independent Directors—enhanced financial reporting oversight .
-
RED FLAGS / Watch-items
- No personal ownership in GDO as of 12/31/2024—limited direct economic alignment (“skin in the game”) at that date .
- No Director attended the 2024 Annual Meeting of Stockholders—signals lower formal engagement at annual meeting level, though Board/committee attendance exceeded 75% during FY2024 (Mason joined post‑FY) .
-
Conflicts/Related-Party
- The proxy states that Independent Directors (and immediate family members), to the Fund’s knowledge, had no interest in the Fund’s adviser or its controlled affiliates as of 12/31/2024—reducing related-party risk .