Nisha Kumar
About Nisha Kumar
Independent Director of HYI since 2019; Chair of the Audit Committee; member of the Nominating, Compensation, and Pricing & Valuation Committees. Birth year 1970. Prior roles include CFO and CCO at Greenbriar Equity Group (2011–2021), CFO/CAO at Rent the Runway (2011), and EVP/CFO of AOL LLC (2007–2009). Recognized as an Audit Committee Financial Expert by HYI’s Board; member of the Council on Foreign Relations; oversees 21 portfolios across the Franklin Templeton fund complex as of 2025 (16 in 2024) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Greenbriar Equity Group, LP | Managing Director; Chief Financial Officer; Chief Compliance Officer | 2011–2021 | Finance and compliance leadership |
| Rent the Runway, Inc. | Chief Financial Officer; Chief Administrative Officer | 2011 | Financial operations |
| AOL LLC (Time Warner subsidiary) | Executive Vice President; Chief Financial Officer | 2007–2009 | Corporate finance oversight |
| Council on Foreign Relations | Member | Not specified | External policy network |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Stonepeak-Plus Infrastructure Fund LP | Director | Since 2025 | Current directorship |
| Birkenstock Holding plc | Director | Since 2023 | Current directorship |
| The India Fund, Inc. | Director | Since 2016 | Current directorship |
| Aberdeen Income Credit Strategies Fund | Director | 2017–2018 | Former directorship |
| The Asia Tigers Fund, Inc. | Director | 2016–2018 | Former directorship |
Board Governance
- Committee assignments: Chair, Audit Committee; member, Nominating, Compensation, and Pricing & Valuation Committees .
- Independence: Non‑interested director; committees are entirely independent under NYSE standards; HYI board has a super-majority of independent directors .
- Audit expertise: Determined by the Board to be an “audit committee financial expert” .
- Attendance: Each director attended at least 75% of Board and applicable committee meetings in FY2024 and FY2025 .
- Board leadership: FY2025 Chair is Eileen Kamerick (Independent); previously Jane E. Trust served as Chair with a Lead Independent Director structure .
- Director term: Nominated as a Class II director to serve until the 2028 Annual Meeting .
Committee Meeting Frequency
| Committee | FY 2024 Meetings | FY 2025 Meetings |
|---|---|---|
| Audit Committee | 5 | 6 |
| Nominating Committee | Not disclosed | 5 |
| Pricing & Valuation Committee | 4 | 4 |
| Compensation Committee | 1 | 3 |
Board Meetings
| Period | Regular Meetings | Special Meetings | Attendance Statement |
|---|---|---|---|
| FY 2024 | 4 | 2 | Each director ≥75% |
| FY 2025 | 4 | 3 | Each director ≥75% |
Fixed Compensation
HYI reports director compensation in aggregate; no pension or retirement benefits are provided to directors .
Aggregate Compensation from HYI (Fund) by Fiscal Year
| Director | FY 2024 ($) | FY 2025 ($) |
|---|---|---|
| Nisha Kumar | 15,299 | 15,661 |
Total Compensation from Fund Complex by Calendar Year
| Director | CY 2023 ($) | CY 2024 ($) |
|---|---|---|
| Nisha Kumar | 435,000 | 486,000 |
- Notes: Compensation reflects service across HYI and other Franklin Templeton-advised investment company boards/committees (16 directorships in 2024; 21 in 2025) .
Performance Compensation
HYI’s proxy presents director compensation as aggregate amounts; it does not disclose any performance-linked metrics or equity grants for directors .
| Metric | Definition | Target | Assessment |
|---|---|---|---|
| Director performance-based pay | Metrics such as revenue/EBITDA/TSR tied to director pay | Not disclosed | No performance-based compensation disclosed in HYI proxy |
Other Directorships & Interlocks
| Company | Relationship to HYI | Potential Interlock/Conflict Consideration |
|---|---|---|
| The India Fund, Inc. | Another Franklin Templeton-advised fund | HYI’s nominating criteria evaluate affiliations that could impair independence; committee composed entirely of independent directors . |
| Birkenstock Holding plc | Consumer company board | No related-party interest with HYI’s adviser reported for independent directors as of 12/31/2024 . |
| Stonepeak-Plus Infrastructure Fund LP | Infrastructure investment vehicle | External directorship; independence and workload monitored via nominating criteria . |
Expertise & Qualifications
- Deep financial and accounting experience as CFO/CCO across private equity and operating companies; explicitly designated “audit committee financial expert” .
- Oversees 21 portfolios in the Franklin Templeton fund complex (16 in 2024), supporting broad fund governance experience .
- Council on Foreign Relations membership; diversified network and policy exposure .
Equity Ownership
| Measure (as of 12/31/2024) | Value |
|---|---|
| Dollar range of HYI equity held by Nisha Kumar | A = None |
| Aggregate dollar range across funds overseen (family of investment companies) | E = Over $100,000 |
- Group ownership: Directors and officers as a group beneficially owned less than 1% of HYI’s outstanding shares at 3/19/2025 and 8/29/2025 .
- Section 16 compliance: HYI believes all filing requirements were met in FY2024 based on reviews of submitted forms .
Governance Assessment
- Strengths: Independent director with audit chair role and “financial expert” designation; robust committee activity (Audit met 6× in FY2025) and satisfactory attendance; committees composed entirely of independent directors under NYSE standards .
- Alignment: Personal HYI share ownership marked “None,” but significant aggregate holdings across funds overseen; compensation appears cash-based and transparent across fund complex; no pension benefits .
- Conflicts: HYI reports no interests by independent directors (or immediate family) in the adviser or its controlling affiliates as of 12/31/2024; nominating criteria explicitly screen for relationships that might impair independence .
- Workload signal: Oversees 21 fund portfolios and holds multiple external directorships—beneficial for oversight breadth but implies a high governance workload; continued attendance ≥75% mitigates bandwidth concerns .
- RED FLAGS: None disclosed regarding related-party transactions, hedging/pledging, tax gross-ups, or option repricing; no equity or performance-linked director compensation disclosed; committee leadership and independence structure are clear and active .