J. Phillip Holloman
About J. Phillip Holloman
Independent director of BlackRock MuniHoldings California Quality Fund, Inc. (MUC). Born 1955; board service since 2021. Core credentials: former President and COO of Cintas (2008–2018) and currently Interim Executive Chairman, President and CEO of Vestis Corporation (since 2025); oversees 66 BlackRock-advised registered investment companies comprising 101 portfolios, indicating deep operating and oversight experience across complex organizations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cintas Corporation | President and Chief Operating Officer | 2008–2018 | Senior operating leader at a scaled industrial services company |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Vestis Corporation | Interim Executive Chairman, President and CEO | Since 2025 | Also listed as a public company directorship in the proxy |
Board Governance
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Structure and independence
- Board size: 10; Independent directors: 8; Holloman is listed among Independent Board Members .
- Chair: R. Glenn Hubbard (since 2022); Vice Chair: W. Carl Kester (since 2022) .
- Holloman tenure on MUC board: since 2021 .
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Committees, chair roles, and attendance
- Committee assignments and meeting attendance for individual directors are not disclosed in this special proxy for preferred shareholders; such details typically appear in the annual joint proxy statement/prospectus sent to common shareholders .
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Activism/engagement context (Fund-level)
- Standstill agreements with Karpus Management (effective until 2027 window) and Saba Capital (effective until 2027 window), committing them to certain standstill covenants and board-recommended voting during the period, signaling an active governance environment around the funds .
Fixed Compensation
- Not disclosed in this Proxy Statement for preferred shareholders; director compensation details are typically presented in the annual proxy sent to common shareholders .
Performance Compensation
- Not disclosed for directors; closed-end fund independent director pay is generally retainer/meeting-fee based and not performance-based; this special proxy does not include such tables .
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Vestis Corporation | Public | Interim Executive Chairman, President & CEO; Director | No disclosed transactional ties to MUC; sector (uniforms/facilities services) unrelated to muni fund investments |
Expertise & Qualifications
- Operating excellence: Former President/COO of Cintas brings large-scale operations, cost discipline, and risk management experience to the board .
- Multi-fund oversight: Oversees 66 RICs/101 portfolios in the BlackRock Fund Complex—beneficial for cross-fund governance consistency, though it may pose bandwidth considerations .
Equity Ownership
| Holder | MUC Common Shares | BFZ Common Shares | Aggregate in Supervised Funds |
|---|---|---|---|
| J. Phillip Holloman | None | None | None |
- As of July 31, 2025, all board members and officers as a group owned less than 1% of outstanding shares of each fund they oversee .
Governance Assessment
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Strengths
- Independent director with extensive operating leadership (Cintas) and current CEO-level role at Vestis—useful for oversight of leverage, expense, and risk controls in a leveraged closed-end fund .
- Board led by independent Chair and Vice Chair, with majority independence (8 of 10), supporting robust governance structure .
- Awareness of shareholder alignment and discount control at the fund level, evidenced by broader governance actions (e.g., activist standstill agreements) that can stabilize governance and execution during the reorganization period .
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Potential concerns / RED FLAGS
- Ownership alignment: Holloman reported no holdings in MUC, BFZ, or across supervised funds as of 12/31/2024—signals limited “skin in the game” for closed-end fund governance (common among fund boards but still an alignment drawback) .
- Capacity risk: Oversight of 66 RICs/101 portfolios suggests heavy workload; while it enhances experience, it can pressure individual engagement unless attendance and committee workloads are demonstrated to be strong (attendance not disclosed in this document) .
- Committee transparency: Committee assignments and attendance are not presented in this special proxy, limiting investors’ ability to evaluate board effectiveness at the individual director level; investors should review the annual proxy to validate Audit/Governance committee roles and attendance .
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Conflicts/related-party exposure
- No related-party transactions or conflicts involving Holloman are disclosed in this special proxy; Vestis’s business appears unrelated to MUC’s municipal bond mandate -.
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Bottom line
- Holloman brings seasoned operating leadership and broad fund oversight experience to an independent board with strong top-level governance. The principal gap is ownership alignment (no shares reported) and lack of committee/attendance disclosure in this document; these should be validated in the annual proxy to fully assess board effectiveness and engagement .