John Millette
About John Millette
John Millette (age 62) serves as Secretary of The New Germany Fund, Inc. (GF) and The Central and Eastern Europe Fund, Inc. (CEE) and is a senior legal executive at DWS Group. He has been an officer of the Funds since 2006 and Secretary since January 1, 2011, after serving as Assistant Secretary from July 14, 2006 to December 31, 2010 and as Secretary to the Funds from January 30, 2006 to July 13, 2006 . He is Associate General Counsel at DWS; Chief Legal Officer at DWS Investment Management Americas, Inc. since 2019; and holds multiple fund governance roles across DWS-affiliated vehicles (DBX Advisors LLC, DBX ETF Trust, Cayman Real Assets Fund, Cayman Commodity Fund II) . As of May 16, 2025, he owned no shares of GF or CEE .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DWS Investment Management Americas, Inc. | Chief Legal Officer | 2019–present | Leads Americas legal function supporting registered investment companies and governance processes . |
| DWS Group (Legal) | Associate General Counsel | Past 5+ years | Provides legal oversight across DWS US registered investment companies . |
| The New Germany Fund, Inc. | Secretary | Jan 1, 2011–present | Corporate secretary for GF; oversees board/process integrity; directs stockholder communications . |
| The New Germany Fund, Inc. | Assistant Secretary | Jul 14, 2006–Dec 31, 2010 | Supported fund governance and filings during prior tenure . |
| The Funds (CEE & GF) | Secretary to the Funds | Jan 30, 2006–Jul 13, 2006 | Early secretary responsibilities across fund complex . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DWS Trust Company | Director and Vice President | Since disclosed, current | Governance oversight at DWS trust entity supporting fund operations . |
| DBX Advisors LLC | Vice President | Since 2021 | Supports ETF advisory governance and filings . |
| DBX ETF Trust | Secretary | Since 2020 | Oversees ETF trust governance and regulatory compliance . |
| Cayman Real Assets Fund, Ltd. | Director | Since 2018 | Board oversight for Cayman investment vehicle . |
| Cayman Commodity Fund II, Ltd. | Director | Since 2018 | Board oversight for Cayman investment vehicle . |
| Various DWS US registered investment companies | Vice President and Secretary | Ongoing | Corporate governance and legal administration across the complex . |
Fixed Compensation
- No officer compensation is paid by GF or CEE; the proxy states “No compensation is paid by a Fund to Directors who are interested persons... or to officers.” As neither Fund has employees, officer pay from the Fund is not applicable .
Performance Compensation
- Not applicable; the Funds do not compensate officers, and no performance-based plans, metrics, or payouts for officers are disclosed by GF/CEE .
Equity Ownership & Alignment
| Metric | GF | CEE |
|---|---|---|
| Beneficial ownership (shares) | 0 (None) | 0 (None) |
| Ownership % of shares outstanding | 0.00% of 16,179,779.95 GF shares | 0.00% of 6,458,365.50 CEE shares |
| Vested vs. unvested shares | Not disclosed | Not disclosed |
| Options (exercisable/unexercisable) | Not disclosed | Not disclosed |
| Shares pledged as collateral | Not disclosed | Not disclosed |
| Stock ownership guidelines | Not disclosed for officers | Not disclosed for officers |
Notes:
- As of May 16, 2025, all Directors, nominees and executive officers as a group owned 6,236 GF shares and 2,250 CEE shares (<1% of each Fund) .
Employment Terms
| Item | Disclosure |
|---|---|
| Officer status | Secretary (GF/CEE), elected annually by the Board after the Annual Meeting . |
| Start dates | Secretary since Jan 1, 2011; Assistant Secretary Jul 14, 2006–Dec 31, 2010; Secretary to the Funds Jan 30, 2006–Jul 13, 2006 . |
| Employer | The Funds have no employees; roles are provided via DWS entities (he is a DWS Director/Associate General Counsel/Chief Legal Officer) . |
| Contract term, severance, change-of-control | Not disclosed for officers; no compensation committee due to no employees . |
| Non-compete / non-solicit / garden leave | Not disclosed . |
| Clawbacks / tax gross-ups | Not disclosed . |
| Section 16 compliance | Filings for the period were timely except for specified late filings (Kircher Form 3; Koepp Form 4); no issues noted for Millette . |
| Board/Shareholder communications channel | Stockholders communicate via Secretary at DWS IMA, 100 Summer Street, Suite 800, Boston, MA 02110 . |
Performance & Track Record
- Governance continuity: Continuous officer service since 2006, with Secretary role since 2011, spanning periods of audit, valuation and nominating committee activity; he facilitates board processes and shareholder communications as Secretary .
- No personal TSR/operating metrics are applicable; GF is a closed-end fund overseen by an independent Board with DWS as investment adviser/administrator .
Compensation Committee Analysis
- No compensation committee exists because the Funds have no employees; thus, officer pay structures, peer groups, or say‑on‑pay votes are not applicable .
Risk Indicators & Red Flags
- Hedging/pledging: No disclosures indicating hedging or pledging by Millette .
- Related party transactions: Officer roles are within DWS/DWS-affiliated entities, consistent with fund complex governance; no related-party transaction disclosures specific to Millette beyond standard affiliations .
- Section 16: No delinquency noted for Millette; specified late filings pertained to other individuals .
Investment Implications
- Alignment: Zero beneficial ownership of GF/CEE suggests limited direct “skin‑in‑the‑game” at the Fund level, which may modestly reduce alignment with outside shareholders; however, his fiduciary duties as Secretary and DWS leadership roles emphasize governance and compliance over incentive pay .
- Retention/selling pressure: No Fund-paid compensation or equity grants to officers means no vesting or insider selling pressure tied to GF/CEE awards; retention is tied to DWS employment, not Fund contracts .
- Governance quality: Long tenure in Secretary role and clear Board committee infrastructure (Audit, Advisory & Valuation, Nominating & Governance) provide procedural robustness; no compensation committee is standard given no employees .