Marc Kole
About Marc M. Kole
Independent Trustee nominee for QQQ (Invesco QQQ Trust), long-serving trustee across the Invesco ETF Trusts since 2006 and Chair of the Audit Committee since 2008; recognized by the ETF Board as an “audit committee financial expert” under SEC rules. Year of birth: 1960. Career spans senior finance leadership roles (CFO/CAO) in healthcare and managed care and prior Audit Partner at Arthur Andersen, aligning with deep audit and financial reporting oversight expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Invesco ETF Trusts (Trust I, Trust II, India Trust, Active Trust, Commodity Trust, Self-Index Trust) | Trustee; Chair, Audit Committee | Trustee since 2006/2007/2008/2014/2016 by trust; Audit Chair since 2008 (Trust I, II, India, Active), 2014 (Commodity), 2016 (Self-Index) | SEC-designated “audit committee financial expert” |
| By The Hand Club for Kids | Managing Director of Finance; Senior Director of Finance | 2015–2021 | Not-for-profit finance leadership |
| Hope Network | Chief Financial Officer | 2008–2012 | Enterprise CFO for social services organization |
| Priority Health | Assistant Vice President & Controller | 2005–2008 | Health insurance finance oversight |
| United Healthcare | Regional Chief Financial Officer | 2004–2005 | Regional finance leadership |
| Oxford Health Plans | Chief Accounting Officer; SVP Finance | 2000–2004 | Public-company senior finance and accounting leader |
| Arthur Andersen LLP | Audit Partner | 1996–2000 | Public company audit leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Thornapple Evangelical Covenant Church | Financial Secretary; Treasurer; Finance Committee Member; Audit Committee Member | Financial Secretary 2025–present; Treasurer 2018–2021; Finance 2015–2021, 2024–present; Audit 2015 | Ongoing fiduciary/financial oversight in nonprofit setting |
| NorthPointe Christian Schools | Board & Finance Committee Member; Treasurer | Board/Finance 2009–2017; Treasurer 2010–2015, 2017 | School governance and treasury oversight |
Board Governance
- Independence and roles: Independent Trustee nominee; Chair, Audit Committee; Member, Nominating & Governance Committee. Audit Committee (all independent) currently: Marc M. Kole (Chair), Gary R. Wicker, Donald H. Wilson, and Joanne Pace. Nominating & Governance Committee membership includes Mr. Kole among other independent trustees .
- Tenure and workload: Trustee across Invesco ETF Trusts since 2006 (varies by trust) overseeing 218 portfolios in the fund complex, indicating substantial scope of oversight .
- Attendance/engagement: Each Trustee Nominee attended at least 75% of board and committee meetings for the most recently completed fiscal year of each Invesco ETF Trust .
- Financial expertise: ETF Board determined Mr. Kole qualifies as an SEC “audit committee financial expert,” reinforcing audit oversight credibility .
- Board leadership context: ETF Board chaired by an Independent Chair with committee chairs acting as liaisons; newly constituted QQQ board anticipated to follow the same structure if proposals are approved .
Fixed Compensation
- Structure: Independent Trustees are paid a complex-wide fee set by the ETF Board; fees are allocated half pro rata and half by average net assets across funds. For funds with a unitary “all-in” advisory fee, Invesco pays board compensation from its fee; if QQQ’s conversion is approved, QQQ trustee compensation would be paid similarly out of Invesco’s unitary fee. No pension or retirement benefits accrued .
Trustee compensation reported for Mr. Kole (aggregate/complex totals by fiscal groups):
| Period | Total Compensation from Invesco Fund Complex ($) |
|---|---|
| Fiscal years ended Aug 31, 2024 | 398,333 |
| Fiscal years ended Oct 31, 2024 | 401,667 |
| Fiscal years ended Apr 30, 2025 | 413,333 |
Additional per-trust aggregates (illustrative excerpts):
- Aug 31, 2024: Trust II $120,766; Self-Index Trust $56,135
- Oct 31, 2024: Trust II $29,993; Active Trust $15,148; India Trust $1,158; Commodity Trust $6,957
- Apr 30, 2025: Trust I $174,304
Deferrals: Footnotes identify which trustees deferred compensation; Mr. Kole is not listed among deferrers in these tables .
Performance Compensation
- No performance-based or equity-linked compensation components are disclosed for Independent Trustees; proxy tables present aggregate trustee fees only (no RSUs/PSUs/options, metrics, or meeting fees schedule) .
Other Directorships & Interlocks
- Public company boards: None disclosed for Mr. Kole in the past five years; listed “Other Directorships” are nonprofit/academic roles (church and school) .
- Interlocks: No public-company interlocks or roles with suppliers/customers disclosed .
Expertise & Qualifications
- Audit and financial reporting: Former Audit Partner (Arthur Andersen), CAO/SVP Finance (Oxford Health Plans), CFO roles (Hope Network), controller/AVP (Priority Health), regional CFO (United Healthcare); SEC “audit committee financial expert” designation .
- ETF governance experience: Multi-decade trustee service with Invesco ETF Trusts; Audit Chair since 2008 across major trusts .
Equity Ownership
- Beneficial ownership (as of June 30, 2025):
- QQQ (the Trust): Dollar range “Over $100,000”
- Aggregate in Invesco fund complex: “Over $100,000”
- Ownership concentration: Each Trustee Nominee and executive officer individually owned less than 1% of QQQ’s outstanding shares as of June 30, 2025 .
Governance Assessment
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Strengths
- Proven audit oversight: Long-standing Audit Committee Chair and SEC “audit committee financial expert,” supporting strong financial reporting oversight .
- Engagement: Attended at least 75% of board/committee meetings, meeting a key governance threshold .
- Alignment: Holds “Over $100,000” in QQQ and “Over $100,000” aggregate across the complex, signaling meaningful personal exposure to fund outcomes .
- Breadth of oversight: Oversees 218 portfolios, bringing cross-fund perspective on control and process rigor .
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Potential risks / red flags to monitor
- Structural conflict consideration: Under a unitary fee model, the adviser (Invesco) pays trustee compensation allocated to QQQ, which can raise perceived independence questions despite formal independence status .
- Tenure: Very long service (since 2006) can, in some governance frameworks, prompt independence-refresh discussions; however, he remains classified as independent and retains audit expert designation .
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No material integrity concerns disclosed
- No material legal proceedings involving Mr. Kole within the past 10 years were disclosed .