Glenn Goodstein
About Glenn Goodstein
Glenn Goodstein is an Independent Director of The Mexico Equity and Income Fund, Inc. (MXE), serving since 2001 and classified as “not an interested person” under the 1940 Act; he is independent under NYSE standards for closed-end funds . He is a registered investment adviser with over 20 years of investment management experience and previously held various management and executive roles at Automatic Data Processing until 1996 . He was listed as age 61 in the Class III director slate for the 2024 proxy and has a birth year of 1963 in the 2025 proxy .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Investment House, LLC | Investment Advisor Representative | Principal occupation (past five years) | Not disclosed |
| Automatic Data Processing (NYSE: ADP) | Management and executive positions | Until 1996 | Not disclosed |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| None | — | — | No other directorships held in past 5 years |
Board Governance
- Independence: Independent Director (not an “interested person”); Audit, Nominating, and Valuation Committees comprise independent directors under NYSE standards .
- Committee memberships: Audit Committee member; Nominating Committee member; Valuation Committee member .
- Chair roles: Not disclosed for Goodstein; Board Chairman is Phillip Goldstein; Audit Committee Chairman is Rajeev Das .
- Attendance: At least 75% attendance at Board and committee meetings in FY2025; Board met 4 times in FY2025 . At least 75% attendance in FY2024; Board met 4 times . At least 75% attendance in FY2023; Board met 5 times .
- Committee activity: Audit Committee met 2 times in FY2025 and FY2024; Valuation Committee did not meet but ratified fair-value decisions at quarterly Board meetings in FY2025 and FY2024; Nominating met 1 time in FY2025 and FY2024; Nominating did not meet in FY2023 .
| Governance Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Board meetings held | 5 | 4 | 4 |
| Goodstein attendance | ≥75% | ≥75% | ≥75% |
| Audit Committee meetings | 2 | 2 | 2 |
| Nominating Committee meetings | 0 | 1 | 1 |
| Valuation Committee meetings | 0; actions taken at quarterly Board meetings | 0; actions taken at quarterly Board meetings | 0; actions taken at quarterly Board meetings |
| Committee memberships (Goodstein) | Audit; Nominating; Valuation | Audit; Nominating; Valuation | Audit; Nominating; Valuation |
| Chair positions (Goodstein) | Not disclosed | Not disclosed | Not disclosed |
Fixed Compensation
- Structure: Annual fee of $30,000 for each independent director, plus $500 per special telephonic meeting; additional annual fees: Chairman $3,750; Audit Committee Chairman $2,250; Valuation Committee Chairman $2,250; Nominating Committee Chairman $1,500 .
- FY2025 aggregate: $31,500 (Goodstein) .
- The Fund does not have a bonus, profit sharing, pension or retirement plan for directors; travel and out-of-pocket expenses reimbursed .
| Component | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Annual retainer (policy) | $30,000 | $30,000 | $30,000 |
| Special telephonic meeting fee (policy) | $500 per meeting | $500 per meeting | $500 per meeting |
| Goodstein aggregate compensation | $31,500 | $31,500 | $31,500 |
| Chair fee amounts (policy) | Chair $3,750; Audit Chair $2,250; Valuation Chair $2,250; Nominating Chair $1,500 | Chair $3,750; Audit Chair $2,250; Valuation Chair $2,250; Nominating Chair $1,500 | Chair $3,750; Audit Chair $2,250; Valuation Chair $2,250; Nominating Chair $1,500 |
| Bonus/profit sharing/pension plan | None | None | None |
Performance Compensation
- No director bonus, profit sharing, pension, or retirement plan is disclosed; no performance-linked metrics for director compensation are disclosed .
| Performance Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Annual cash bonus | None disclosed | None disclosed | None disclosed |
| Stock awards (RSUs/PSUs) | Not disclosed | Not disclosed | Not disclosed |
| Option awards | Not disclosed | Not disclosed | Not disclosed |
| Performance targets (TSR, EBITDA, ESG) | Not disclosed | Not disclosed | Not disclosed |
| Clawback provisions on director pay | Not disclosed | Not disclosed | Not disclosed |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Other public company boards (Goodstein) | None in past five years |
| Board composition context | Chairman Phillip Goldstein (Bulldog Investors/Ryan Heritage) and Rajeev Das (Bulldog Investors/Ryan Heritage) are independent directors with investment adviser affiliations noted in their bios, indicating ties to Bulldog-affiliated entities among other directors; Goodstein’s principal occupation is with The Investment House, LLC . |
Expertise & Qualifications
- Registered investment adviser with over 20 years of investment management experience .
- Prior operating experience in management and executive roles at ADP, providing corporate process and systems exposure .
- Long-tenured closed-end fund governance experience (director since 2001) .
Equity Ownership
- Management ownership overall: Directors and officers, as a group, owned less than 1% of the Fund’s shares as of 2025 and 2024 .
- Goodstein’s ownership in the Fund: None (dollar range: None) as of October 20, 2025 and October 28, 2024 .
| Ownership Metric | As of Oct 28, 2024 | As of Oct 20, 2025 |
|---|---|---|
| Dollar range of equity securities in MXE | None | None |
| Aggregate dollar range across family of investment companies | None | None |
| Shares pledged as collateral | Not disclosed | Not disclosed |
Governance Assessment
- Strengths:
- Independence and committee participation across Audit, Nominating, and Valuation; all committees comprised of independent directors under NYSE standards .
- Consistent attendance ≥75% across FY2023–FY2025 with regular Board meeting cadence; Audit Committee met twice annually; Nominating active annually (except FY2023) .
- Audit Committee oversight documented with independent auditor discussions and independence assessments (PCAOB Rule 3526); committee collectively recommended inclusion of audited financials .
- Risks and potential red flags:
- No personal ownership in the Fund reported by Goodstein in 2024 and 2025, which may signal lower direct alignment with shareholders for a closed-end fund board seat (ownership guidelines not disclosed) .
- Valuation Committee did not hold standalone meetings in FY2023–FY2025, relying on ratifications at quarterly Board meetings—adequate but less formalized cadence for fair-value oversight .
- Conflicts/related-party exposure:
- Directors (including Goodstein) and immediate family reported no >$120,000 interests in the Adviser or affiliates; no transactions >$120,000 with Adviser/affiliates in last two fiscal years, mitigating related-party concerns .
- Compensation alignment:
- Cash-only director compensation disclosed (retainer and fees) with no performance-based elements; predictable structure supports independence but lacks explicit pay-for-performance linkage for directors .
Note: Chair roles for Goodstein are not disclosed; Audit Committee Chair is Rajeev Das; Board Chair is Phillip Goldstein .