Rahn Porter
About Rahn Porter
Rahn K. Porter is an Independent Director of The India Fund, Inc. (IFN), appointed June 11, 2024, and nominated as a Class I director with a term expiring at the 2027 Annual Meeting; he serves as Chair of the Audit Committee and has been designated the Board’s “audit committee financial expert.” Porter’s background spans executive finance leadership (CFO, Treasurer) and board audit chair roles across public and private entities; he is currently Principal of RPSS Enterprises (since 2019). Year of birth: 1954. He is independent under NYSE standards and not an “interested person” of the Fund’s adviser.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Colorado Health Foundation | Chief Financial & Administrative Officer | 2013–2021 | Senior finance leadership for large nonprofit health foundation |
| Telenet | Chief Financial Officer | Not disclosed | Executive finance leadership |
| Nupremis | Chief Financial Officer | Not disclosed | Executive finance leadership |
| Qwest Communications | Treasurer | Not disclosed | Corporate treasury leadership |
| MediaOne Group | Treasurer | Not disclosed | Corporate treasury leadership |
| BlackRidge Financial Inc. | Board Member; Audit Chair | 2004–2019 | Led audit oversight as chair |
| Community First Bancshares, Inc. | Board Member; Audit Chair | Not disclosed | Led audit oversight as chair |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| RPSS Enterprises | Principal | Since 2019 | Consulting and advisory firm lead |
Board Governance
- Structure and term: Classified board; Porter is Class I, serving since 2024 with term expiring at the 2027 Annual Meeting (standing for stockholder election following his June 2024 appointment).
- Independence: Board committees (Audit, Nominating) are composed entirely of independent, non-interested directors under NYSE standards; Porter is independent (the one interested director is an abrdn officer).
- Committee assignments and chair roles: Chair, Audit Committee; Member, Nominating Committee (Nominating Committee chaired by Nancy Yao).
- Financial expertise: Designated “audit committee financial expert” by the Board.
- Meetings and attendance (FY 2024): Board held five regular and two special meetings; Audit convened five times; Nominating met three times; each director attended at least 75% of Board/committee meetings.
- Fund complex board scope: Oversees 6 registrants consisting of 23 portfolios within the abrdn Fund Complex (indicative of experience and workload).
- Overboarding policy: Audit Committee charter caps service at three public company audit committees, counting multiple committees within the same fund complex as one (mitigates “overboarding” risk for fund boards).
Fixed Compensation
The proxy reports director pay as retainers and meeting fees; no pension/retirement benefits are provided to directors. Porter joined mid-year 2024, resulting in partial-year Fund compensation and higher Fund Complex compensation reflecting broader complex board work.
| Metric (FY 2024) | Amount |
|---|---|
| Aggregate Compensation from IFN | $26,337.91 |
| Total Compensation from IFN and Fund Complex | $293,386.83 |
| Notes | Porter appointed June 11, 2024 (partial year) |
| Pension/Retirement Benefits | None provided to directors |
Performance Compensation
- Equity and options: The proxy describes director compensation as retainers and meeting fees and does not list RSUs, PSUs, or option awards for directors. No performance metrics tied to director compensation are disclosed.
| Component | Disclosure (FY 2024) |
|---|---|
| RSUs/PSUs | Not disclosed in proxy |
| Options (strike/expiry/vesting) | Not disclosed in proxy |
| Performance metrics (TSR, EBITDA, ESG, etc.) | Not disclosed in proxy |
| Clawbacks / COI provisions for directors | Not disclosed (Fund notes Board oversight of conflicts) |
Other Directorships & Interlocks
| Company/Organization | Role | Tenure | Notes |
|---|---|---|---|
| CenturyLink Investment Management Company | Independent Director | 2006–2024 | Ended 2024; investment management subsidiary role (not IFN-related) |
| BlackRidge Financial Inc. | Director (Audit Chair) | 2004–2019 | Former role |
| Community First Bancshares, Inc. | Director (Audit Chair) | Not disclosed | Former role |
| Fund Complex oversight | Director across abrdn fund registrants | Current | Oversees 6 registrants/23 portfolios in abrdn complex |
Expertise & Qualifications
- Executive finance and governance: CFO roles (Telenet, Nupremis); Treasurer roles (Qwest, MediaOne); chief financial and administrative officer (The Colorado Health Foundation, 2013–2021).
- Audit leadership: Multiple audit chair roles historically; designated “audit committee financial expert” at IFN; current Audit Committee Chair.
- Fund governance experience: Oversight across 6 registrants and 23 portfolios in abrdn Fund Complex.
Equity Ownership
| Holding | Porter Disclosure |
|---|---|
| Dollar Range of IFN Shares (as of Apr 1, 2025) | $10,001 – $50,000 |
| Aggregate Dollar Range across Aberdeen family funds | Over $100,000 |
| Ownership concentration | No director or officer individually >1% of IFN shares |
| Holdings in adviser or its affiliates | No holdings by independent directors or immediate family in abrdn Asia or its control affiliates |
Insider Trading and Section 16 Compliance
- Section 16(a) filings: Based on the Fund’s review, all Reporting Persons (including directors) timely filed required reports for FY 2024.
| Item | FY 2024 Status |
|---|---|
| Director Section 16(a) filings (Fund-wide) | Timely filed, per Fund review |
Governance Assessment
-
Strengths:
- Audit Committee Chair with formal “audit committee financial expert” designation—strong financial oversight signal.
- Independent standing and service on fully independent committees under NYSE standards.
- Reasonable attendance benchmark achieved (≥75%); Board and key committees were active (Board 7 total meetings; Audit 5; Nominating 3).
- Multi-entity fund governance exposure (6 registrants/23 portfolios) adds depth.
-
Potential risks/considerations:
- Workload/overboarding optics from multiple fund boards in the same complex; however, the Audit Committee charter treats multiple audit committees within one fund complex as a single committee for the “no more than three” guideline.
- Ownership alignment is disclosed as a dollar range ($10,001–$50,000 in IFN), which may be perceived as modest; no stock ownership guidelines are disclosed for directors.
- Investor engagement: the Fund does not have a formal policy on director attendance at Annual Meetings, and no directors attended the 2023 Annual Meeting.
- Conflicts: No director holdings in the adviser or its control affiliates; no related-party transactions with Porter are disclosed.
-
Red flags observed:
- None explicit in filings; no pledging/hedging, related-party transactions, or Section 16 deficiencies disclosed for directors.
- Monitoring area: breadth of fund-complex service and meeting load.
Notes on Data Sources
- Principal biographical, governance, compensation, and ownership data are from IFN’s 2025 DEF 14A dated April 14, 2025; prior-year governance practices and meeting attendance policy are from the 2024 DEF 14A dated April 8, 2024.