Monica Enand
Northwest Natural HoldingAbout Monica Enand
Independent director of Northwest Natural Holding Company (NWN); Founder and former CEO of Zapproved, Inc. Age 53; director since 2019. Technology operator with prior roles at Avnera (semiconductors), IBM, and Intel; B.S. in Computer Engineering (Carnegie Mellon) and MBA (University of Portland). Current committee assignments: Finance (Chair), Governance, and Public Affairs & Environmental Policy . The Board classifies her as independent (as of Feb 27, 2025) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Zapproved, Inc. | Founder & CEO | 2008–Feb 2023 | Built enterprise SaaS for corporate legal; exited to Exterro |
| Avnera Corporation | Director, Business Dev & Marketing | — | Semiconductor GTM leadership |
| IBM | Sales & Marketing | — | Enterprise technology commercial roles |
| Intel | Program Manager, Compiler & Architecture Group | — | Technical program management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Oregon Community Foundation | Director | — | Non-profit board service |
| Oregon Business Council | Fellow | — | Civic engagement |
| Auth0 | Chair (prior) | — | Prior tech board leadership (company later acquired) |
| Technology Association of Oregon | Chair (prior) | — | Industry association leadership |
| Oregon Growth Board; Oregon Innovation Council; Oregon Investment Council | Member (prior) | — | State economic/innovation bodies |
Board Governance
- Independence: Board determined Enand is independent (11 of 13 directors independent) .
- Attendance: In 2024, the Board met 6 times with executive sessions each meeting; no director attended fewer than 75% of aggregate Board and committee meetings .
- Board structure: Independent Chair separate from CEO; committees have independent chairs and are majority/fully independent per committee .
| Body | Role | 2024 Meetings |
|---|---|---|
| Board of Directors | Director | 6 |
| Finance Committee | Chair | 3 |
| Governance Committee | Member | 5 |
| Public Affairs & Environmental Policy Committee | Member | 2 |
Fixed Compensation (Non‑Employee Director Pay)
| Component (2024) | Amount |
|---|---|
| Fees earned/paid in cash | $237,500 |
| Above‑market deferred comp earnings | $238 |
| Total | $237,738 |
Director pay structure (reference): Directors serve on both NW Holdings and NW Natural boards; 2024 annual retainers were $20,000 (Holdings) and $180,000 (NW Natural), with additional cash retainers for committee chairs/members and modest per‑meeting fees for unscheduled meetings beginning with the second such meeting .
Performance Compensation
| Item | Details |
|---|---|
| LTIP equity grants to non‑employee directors (2024) | None granted; none expected for 2025 |
| Director stock ownership guideline | Must own NW Holdings shares valued at least $450,000 within 5 years of joining the Board |
| Guideline compliance status (Feb 2025 review) | All directors have achieved or are making adequate progress toward the guideline |
| Hedging/pledging policy | Directors/officers prohibited from hedging/shorting; restrictions on pledging and non‑recourse margin |
Other Directorships & Interlocks
- Current public company directorships: None disclosed for Enand .
- Compensation Committee interlocks/insider participation: None requiring disclosure in 2024 .
Expertise & Qualifications
- Technology and cybersecurity leadership from founding and scaling Zapproved; prior technical/commercial roles at Intel and IBM .
- Strategic, M&A, business development, change management, and customer experience expertise relevant to utility diversification and digital initiatives .
- Education: B.S., Computer Engineering (Carnegie Mellon); MBA (University of Portland) .
Equity Ownership
| Ownership (as of 12/31/2024) | Shares | Notes |
|---|---|---|
| Beneficial ownership | 1,453 | Includes 1,453 shares credited under DCP; “<1%” of outstanding |
| Total ownership (incl. deferred/unvested where applicable) | 14,550 | Supplemental total provided by company |
| Pledged shares | None disclosed; pledging restricted by policy | |
| Ownership guideline | $450,000 within 5 years; directors achieving or on track (as of Feb 2025) |
Governance Assessment
- Strengths: Independent director; chairs Finance Committee (overseeing capital structure, dividend policy, IR/credit agency relationships, hedging, regulatory finance strategy); adds technology/cyber and growth expertise; no related‑party transactions disclosed involving Enand; anti‑hedging/pledging protections and robust ownership guideline support alignment .
- Engagement: No director fell below 75% attendance in 2024; Board held executive sessions at each meeting; committee workload aligns with her finance/governance/public affairs focus .
- Shareholder signals: Say‑on‑pay support exceeded 96% in 2024, indicating broad investor support for compensation governance; Board maintains independent Chair and fully/majority independent committees .
RED FLAGS: None disclosed specific to Enand (no related‑party transactions; no attendance shortfalls; no hedging/pledging; no compensation committee interlocks) .