Rebecca W. Rimel
About Rebecca W. Rimel
Independent Board Member of DWS Municipal Income Trust (ticker: KTF), born 1951, serving on the DWS Funds Board since 1995; current term is Class III through the 2026 annual shareholder meeting. Core credentials include decades of leadership at The Pew Charitable Trusts (President/CEO 1994–2020; Senior Advisor 2020–2021) and executive experience at The Glenmede Trust Company (1983–2004), with prior public company directorships at Becton Dickinson and Company and BioTelemetry, Inc.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Pew Charitable Trusts | President, CEO, Director; Senior Advisor | 1994–2020; 2020–2021 | Led a major public charity, broad public policy agenda |
| The Glenmede Trust Company | Executive Vice President | 1983–2004 | Investment trust/wealth management leadership |
| Investor Education (charitable org.) | Board Member | 2004–2005 | Governance role |
| Philadelphia Chamber of Commerce | Trustee, Executive Committee | 2001–2007 | Regional business policy and governance |
| Thomas Jefferson Foundation | Trustee | 1994–2012 | Nonprofit board service |
| Viasys Health Care (public) | Director | Jan–Jun 2007 | Short-term public company directorship |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| The Bridgespan Group (nonprofit) | Director | Since Oct 2020 | Current role |
| Washington College | Directorship | Since July 2023 | Current role |
| Becton Dickinson and Company (public) | Director | 2012–2022 | Medical technology company |
| BioTelemetry, Inc. (public) | Director | 2009–2021 | Acquired by Royal Philips in 2021 |
| Viasys Health Care (public) | Director | Jan–Jun 2007 | Medical technology/health care |
Board Governance
- Independence: Classified as an Independent Board Member; all standing committees (Audit, Nominating & Governance, Operations) consist entirely of independent members under NYSE closed-end fund standards .
- Committee assignments: Chair, Nominating & Governance Committee; Member, Operations Committee. The Audit Committee members are Catherine Schrand (Chair), Jennifer S. Conrad (Vice Chair), and Keith R. Fox .
- Attendance: In calendar year 2024, the Board held five regular and one special meeting; each Board Member attended at least 75% of Board and applicable committee meetings .
- Term and tenure: Class III Board Member through the 2026 annual meeting; on DWS Funds Board since 1995 .
| Committee | Role | Meetings in CY 2024 | Notes |
|---|---|---|---|
| Nominating & Governance | Chair | 5 | Oversees nominations, board operations; charter posted on fund website |
| Operations | Member | 5 | Reviews administrative operations, compliance matters |
| Audit | Not a member | 6 | Oversight of financial reporting, valuation; independent-only membership |
Fixed Compensation
- Structure: Independent directors receive cash compensation (retainer fees plus specified amounts for committee service and chair roles). No employee benefits (e.g., pensions, retirement benefits, health insurance) from the Funds .
| Component | Amount | Period | Notes |
|---|---|---|---|
| Fund-level cash compensation (KTF) | $2,527 | Most recent fiscal year (ended Nov 30, 2024) | Exhibit C; independent director compensation |
| Total cash comp from DWS fund complex | $340,000 | CY 2024 | Compensation across 67 funds; includes $25,000 for chairing a non-Audit Board Committee |
Performance Compensation
- No equity grants, options, or performance-linked pay disclosed for Independent Board Members; compensation consists of retainers and committee/chair fees (cash), with no pension/retirement benefits from the Funds .
Other Directorships & Interlocks
| Company | Type | Role | Tenure | Potential Interlock/Conflict |
|---|---|---|---|---|
| Becton Dickinson and Company | Public | Director | 2012–2022 | No direct KTF supplier/customer linkage disclosed |
| BioTelemetry, Inc. | Public | Director | 2009–2021 | Acquired by Royal Philips (2021); no KTF linkage disclosed |
| Viasys Health Care | Public | Director | Jan–Jun 2007 | Limited tenure; no KTF linkage disclosed |
| The Bridgespan Group | Nonprofit | Director | Since Oct 2020 | Advisory nonprofit; no KTF linkage disclosed |
| Washington College | Academic | Directorship | Since July 2023 | Educational institution; no KTF linkage disclosed |
Expertise & Qualifications
- Governance rationale: Committee notes emphasize her broad public policy leadership from a major public charity and experience as a director of several public companies .
- Complementary Board skills: Board cites diverse backgrounds (finance, accounting, legal, policy) across members; Rimel’s policy and public company experience supports board composition aims .
Equity Ownership
- As of August 1, 2025, Board Members and officers collectively owned less than 1% of KTF shares outstanding .
| Fund | Dollar Range Beneficially Owned | Number of Shares |
|---|---|---|
| DWS Municipal Income Trust (KTF) | $0 | 0 |
| Aggregate Dollar Range Owned in All DWS Funds Overseen | Status |
|---|---|
| All DWS funds | Over $100,000 |
Governance Assessment
- Strengths:
- Committee leadership: Chair of Nominating & Governance; active member of Operations, indicating engagement in board composition, governance oversight, and operational compliance .
- Attendance threshold met: At least 75% of Board and committee meetings in 2024; Board met five regular and one special session, committees met 5–6 times, suggesting consistent engagement .
- Independence: Committees comprised solely of independent members; adherence to NYSE closed-end fund independence standards .
- Alignment risk indicators:
- Zero direct ownership of KTF shares (dollar range $0; shares 0), which may signal limited direct fund-level alignment; offset by aggregate ownership across DWS funds over $100,000 .
- Compensation considerations:
- Cash-only structure (retainer and committee/chair fees) with no disclosed performance linkage or equity; chair premium ($25,000) embedded in total complex compensation, consistent with governance responsibilities rather than pay-for-performance .
- Conflicts/related party:
- No related-party transactions or pledging/hedging disclosed in the proxy for Rimel; prior public company roles do not indicate direct KTF conflicts based on available disclosures .
Overall: Rimel brings seasoned nonprofit leadership and public board experience, chairs a key governance committee, and meets attendance and independence standards. The principal investor alignment watchpoint is zero direct ownership in KTF, partially mitigated by aggregate DWS fund exposure; pay is cash-based and tied to role/committee service rather than fund performance, typical for closed-end fund boards .