Elizabeth Bogan
About Elizabeth C. Bogan
Independent Trustee of GAMCO Global Gold, Natural Resources & Income Trust (GGN) since March 25, 2021, with current term continuing until the 2026 Annual Meeting; year of birth 1944. Former Senior Lecturer in Economics at Princeton University (1992–2020); previously Chair of Economics & Finance at Fairleigh Dickinson University and member of its College of Business Administration Executive Committee. Education: BA in Economics (Wellesley College), MA in Quantitative Economics (University of New Hampshire), PhD in Economics (Columbia University). Oversees 12 portfolios within the Gabelli Fund Complex; classified as an Independent Trustee under the Investment Company Act of 1940.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Princeton University | Senior Lecturer in Economics | 1992–2020 | Academic leadership and curriculum; economics expertise applied to oversight roles |
| Fairleigh Dickinson University | Chair, Economics & Finance Department; Executive Committee Member (College of Business Administration) | — | Department leadership; governance/administrative experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Gabelli Fund Complex (other registered funds) | Serves on committees for other funds | — | Cross-fund committee participation; broader fund governance exposure |
Board Governance
- Independence: Classified as Independent Trustee; none of the Independent Trustees (with noted exceptions unrelated to Bogan) nor their families had interests in the Adviser or affiliates as of December 31, 2024.
- Committee assignments at GGN (2024): Audit Committee composed of Enright (Chair), Fahrenkopf, Zizza; Nominating Committee composed of Colavita (Chair), Melarkey, Zizza; Lead Independent Trustee is Conn. Bogan is not listed among Audit or Nominating Committee members in 2024.
- Board meetings and attendance: Board met 4 times in 2024; each Trustee then serving attended at least 75% of Board meetings and of any committee meetings of which they were members.
- Shareholder annual meeting engagement: Fund does not expect Trustees to attend; no Trustee or nominee attended the May 13, 2024 annual meeting.
- Tenure: Trustee since 2021; term continues to 2026 Annual Meeting.
Fixed Compensation
| Component | 2024 Schedule/Amount | Notes |
|---|---|---|
| Annual retainer (Independent Trustee) | $15,000 | Cash |
| Board meeting fee (per meeting) | $2,000 | 4 meetings in 2024 |
| Committee meeting fee (per meeting) | $1,000 | Applies to committee members |
| Audit Committee Chair annual fee | $3,000 | Not applicable to Bogan (not Chair) |
| Nominating Committee Chair annual fee | $2,000 | Not applicable to Bogan (not Chair) |
| Lead Independent Trustee annual fee | $2,000 | Not applicable to Bogan (role held by Conn) |
| Aggregate compensation from GGN (FY2024) | $23,000 | Consistent with retainer + 4 meeting fees |
Year-over-year Fund vs. Fund Complex pay:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate compensation from GGN ($) | $23,000 | $23,000 |
| Aggregate compensation from Fund Complex ($) | $153,000 | $152,000 |
Performance Compensation
| Item | Disclosure |
|---|---|
| Equity awards (RSUs/PSUs/DSUs), stock options, performance-based director pay | Not disclosed; proxy details cash retainers/meeting fees and committee chair fees only; no director equity programs cited. |
No performance metrics (TSR, revenue, EBITDA, ESG) tied to director compensation are disclosed for Trustees.
Other Directorships & Interlocks
| Company/Organization | Role | Tenure | Notes |
|---|---|---|---|
| Public company directorships (past 5 years, excluding Gabelli-managed funds) | — | — | None reported in Trustee table for Bogan. |
Expertise & Qualifications
- Economics expertise spanning academia and quantitative training; PhD in Economics (Columbia), MA Quantitative Economics (UNH), BA Economics (Wellesley).
- Fund governance exposure across 12 portfolios in the Gabelli Fund Complex and committee participation in other funds.
- Not designated as Audit Committee Financial Expert at GGN (designation held by Enright).
Equity Ownership
| Item | Value |
|---|---|
| Beneficial ownership (GGN Common) | 0 shares; less than 1% of outstanding. |
| Dollar range of equity securities held in GGN | A (None). |
| Aggregate dollar range in Family of Investment Companies | E (Over $100,000). |
No disclosures of pledged shares, hedging, or Section 16(a) reporting delinquencies for Bogan; the Fund states covered persons complied with Section 16 filings in 2024.
Governance Assessment
- Strengths: Independent status; deep economics/quantitative background; broad fund complex governance experience (12 portfolios) enhances oversight capacity.
- Committee influence: Not listed on GGN’s core Audit or Nominating Committees in 2024, limiting direct influence on financial reporting oversight and board composition.
- Attendance/engagement: Board met quarterly; each Trustee attended ≥75% of meetings. Annual shareholder meeting attendance is not expected and none attended in 2024.
- Alignment: Holds no GGN shares while holding over $100,000 across the broader Gabelli family of funds; lack of GGN-specific ownership is a potential alignment gap for closed-end fund investors focused on “skin in the game.”
- Conflicts: No related-party interests disclosed for Bogan in Adviser-controlled entities; independence affirmed, with noted family/affiliate exceptions applying to other trustees (not Bogan).
- RED FLAGS:
- No GGN share ownership disclosed (Dollar Range A = None).
- Not on Audit/Nominating committees at GGN in 2024 (reduced direct governance leverage).
- Shareholder meeting attendance: none attended in 2024, consistent with fund stance; may be viewed as low direct engagement with retail holders.
Overall: Bogan brings strong economics and governance credentials from academia and cross-fund committee work, but her absence from GGN’s core committees and lack of GGN share ownership may temper investor confidence in direct accountability and alignment.