Joseph E. Obermeyer
About Joseph E. Obermeyer
Joseph E. Obermeyer (born 1957) is an Independent Trustee and, since January 2025, the independent Chairperson of the Board for Voya Emerging Markets High Dividend Equity Fund (IHD) and the other Voya closed‑end funds covered by this proxy. He has served on the Voya funds boards since May 2013; he is retired and formerly was President of Obermeyer & Associates, Inc., a financial and economic consulting firm (Nov 1999–Dec 2024). He oversees 131 funds within the Voya fund complex and holds no other public company board positions.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Obermeyer & Associates, Inc. | President | Nov 1999 – Dec 2024 | Led financial and economic consulting services business prior to retirement. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Other public company boards | — | — | None disclosed. |
Board Governance
- Independence and leadership: The IHD Board has six members, all Independent Trustees; Joseph E. Obermeyer currently serves as the independent Chairperson of the Board. Duties include setting agendas with management, presiding at meetings, and acting as liaison among trustees, fund officers, and counsel. The Chair role does not add liabilities beyond those of any trustee.
- Committee assignments: Obermeyer serves on the Compliance Committee (members: Pressler, Boyer, Obermeyer). He is not on the Audit Committee (members: Baldwin, Gavin, Sullivan; Chair: Gavin).
- Meeting cadence and attendance: The Board holds eight regular meetings per year (multi‑day sessions) with additional special meetings as needed; for FY ended Feb 28, 2025, no Trustee attended fewer than 75% of aggregate Board and committee meetings of which they were a member.
- Committee scope: Audit oversees financial statements, auditors, controls, valuation; Compliance oversees regulatory compliance, CCO, cybersecurity, proxy voting, brokerage oversight, and liquidity risk management.
Fixed Compensation
Fee structure (paid pro‑rata by each Voya fund based on relative net assets) and FY25 actuals:
| Component | Amount | Notes |
|---|---|---|
| Annual retainer (Independent Trustees) | $270,000 | Paid by fund complex, pro‑rated across funds. |
| Additional retainer – Board Chair (Obermeyer) | $100,000 | For service as independent Chairperson. |
| Committee Chair retainers | $30,000–$65,000 | Not applicable to Obermeyer; current committee chairs: Baldwin ($30k), Pressler ($65k), Boyer ($30k), Gavin ($60k), Sullivan ($30k). |
| Regular meeting fees | $10,000 per meeting | For four quarterly, two auxiliary, two annual contract review meetings. |
| FY25 Total Compensation from Voya Fund Complex (paid to Obermeyer) | $380,000 | For fiscal year ended Feb 28, 2025. |
| FY25 Compensation deferred by Obermeyer | $38,000 | Deferred under the trustee plan. |
| FY25 Aggregate compensation from IHD (pro‑rata share) | $452.53 | IHD’s share of Obermeyer’s FY25 compensation. |
Performance Compensation
| Performance‑linked element | Metric(s) | Target/Outcome | Notes |
|---|---|---|---|
| None disclosed | — | — | The proxy describes cash retainers and meeting fees; no equity or performance‑based awards for trustees. |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None. |
| Interlocks with competitors/suppliers/customers | None disclosed. |
Expertise & Qualifications
- Professional background: Decades of financial and economic consulting experience as President of Obermeyer & Associates prior to retirement, aligning with oversight responsibilities on a complex of 131 funds.
- Governance credentials: Independent Board Chair; member of the Compliance Committee overseeing regulatory compliance, CCO reporting, cybersecurity, proxy voting, brokerage practices, and liquidity risk management.
- Audit “financial expert” designation: Audit Committee members (Baldwin, Gavin, Sullivan) are designated financial experts; Obermeyer is not on the Audit Committee.
Equity Ownership
| Security | Dollar Range Owned | Notes |
|---|---|---|
| IHD | $0 | As of Feb 28, 2025. |
| IAE, IGA, IGD, IDE | $0 each | As of Feb 28, 2025. |
| Aggregate across all registered investment companies overseen | Over $100,000 | Includes indirect interests via trustee deferred compensation and/or 401(k) plan. |
| Ownership of Investment Adviser/Underwriter or their affiliates by Independent Trustees or immediate family | None | To the best of the Funds’ knowledge as of May 1, 2025. |
Governance Assessment
-
Positives for investor confidence
- Fully independent board with an independent Chair enhances oversight and reduces potential sponsor influence.
- Robust committee architecture with clear scopes (financial reporting, valuation, compliance, cybersecurity, liquidity risk).
- Meeting cadence is frequent; all trustees met 75%+ attendance threshold in FY25, supporting engagement.
- Compensation is transparent, cash‑based, and pro‑rated across the complex; deferral option used by Obermeyer aligns part of pay with fund complex outcomes via plan investments.
-
Watch items / potential alignment considerations
- No direct holdings in IHD (and in the four sister CEFs cited), though aggregate exposure across the complex exceeds $100,000 largely via deferred comp/401(k) vehicles; some investors prefer direct ownership in the specific fund for tighter alignment.
- Not designated as an Audit Committee Financial Expert (appropriate given committee assignments), placing emphasis on the Audit Chair and members for financial reporting oversight.
-
Compliance signals
- Section 16(a) ownership reporting: based on filings and representations, Reporting Persons (including trustees) complied with applicable filing requirements during FY25.
Notes on voting and tenure policies
- Trustees stand for election on a staggered basis; independent trustee retirement policy requires retirement at year‑end when age 75 is reached, with limited extension mechanics to avoid triggering special shareholder meetings.
Appendix references: Compensation detail and ownership ranges appear in Appendix C and Appendix D of the proxy; current trustees’ biographies and roles are in Appendix B.