Bruce E. Ware
About Bruce E. Ware
Bruce E. Ware, age 49, is an independent director of Seneca Foods, serving since August 2023. He is Chairman, CEO, and Founder of One America Bancorp, and previously spent 15 years at DaVita Inc., retiring as Corporate Vice President; he began his career as an investment banker at Donaldson, Lufkin & Jenrette. He holds an MBA from Harvard Business School, an MA from the University of Texas at Austin, and a BBA from the University of Mississippi .
Past Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| DaVita Inc. | Corporate Vice President; prior roles with increasing responsibility | 15 years (ended prior to current roles; dates not disclosed) | Led JV growth initiatives and corporate finance matters |
| Donaldson, Lufkin & Jenrette | Investment Banker (M&A and corporate finance) | Not disclosed | Advised on corporate finance and M&A |
External Roles
| Organization | Role | Tenure | Committees / Focus |
|---|---|---|---|
| One America Bancorp | Chairman, Chief Executive Officer, and Founder | Current | Banking leadership, corporate finance |
| AAON, Inc. (public) | Director | Current | Audit Committee; Compensation Committee |
| University of Mississippi Foundation | Board Member | Current | Endowment oversight |
Board Governance
| Item | Detail |
|---|---|
| Independence status | Independent director under NASDAQ standards; Board determined seven of nine directors (including Ware) are independent |
| Committees | Audit Committee member; designated “audit committee financial expert” alongside Woodward and Nelson |
| Other committee roles | Corporate Governance & Nominating Committee member |
| Committee activity | Audit Committee met 4x in FY ended Mar 31, 2025; Corporate Governance & Nominating met 1x |
| Board attendance | Board held 4 meetings; each director attended every Board and applicable committee meeting (100% attendance) |
| Executive sessions | Board holds regularly scheduled executive sessions of non-management directors |
Fixed Compensation (Director)
| Component | FY2025 Amount |
|---|---|
| Cash retainer (quarterly $20,000) | $80,000 (annual) — Ware received $80,000 |
| Committee membership fees | None disclosed |
| Committee chair fees | Not applicable (Ware is not a chair) |
| Meeting fees | None disclosed |
| Equity awards | None disclosed for directors in FY2025 |
Performance Compensation (Director)
| Element | Metric(s) | FY2025 Detail |
|---|---|---|
| Performance-based cash | — | Not disclosed/applicable for non-employee directors |
| Performance equity (PSUs/RSUs) | — | Not disclosed/applicable for non-employee directors |
Other Directorships & Interlocks
- Current public company board: AAON, Inc.; committees: Audit and Compensation .
- Compensation Committee interlocks: Company discloses none over the past three years (no reciprocal executive/comp committee relationships) .
Expertise & Qualifications
- Financial expertise: Designated audit committee financial expert at Seneca .
- Corporate finance/M&A: DLJ investment banking; DaVita corporate finance leadership .
- Leadership/operations: Founder-CEO of bank holding company; senior operator in healthcare services .
- Education: MBA (Harvard), MA (UT Austin), BBA (Univ. of Mississippi) .
Equity Ownership
| Holder | Security | Shares Beneficially Owned | % of Class |
|---|---|---|---|
| Bruce E. Ware | Class A Common | — (no holdings reported) | * (<1%) |
| Bruce E. Ware | Class B Common | — (no holdings reported) | * (<1%) |
| Bruce E. Ware | Preferred (6%, 10% Series A, 10% Series B) | — (no holdings reported) | * (<1%) |
Governance Assessment
-
Strengths
- Independent director with dual committee service (Audit; Corporate Governance & Nominating), and designated audit committee financial expert — enhances oversight of financial reporting and governance processes .
- Perfect attendance at Board and committee meetings in FY2025 indicates engagement and reliability .
- Additional public company board experience (AAON) on financially material committees (Audit, Compensation) broadens perspective and benchmarking capability .
- Board overall maintains independent-majority structure and holds executive sessions of non-management directors, supporting independent oversight .
-
Watch items / alignment considerations
- Director compensation is entirely cash ($80,000) with no disclosed equity retainer; Ware reported no beneficial ownership as of June 13, 2025. The absence of equity holdings may limit long-term alignment versus boards that deliver a portion of pay in equity .
- Multiple external responsibilities (Founder-CEO of a bank; AAON board) could raise time-allocation considerations; however, no attendance issues were observed in FY2025 .
- No related-party transactions involving Ware were disclosed; broader related-party items involve other directors/executives (e.g., My-T Acres supply; certain family employment), which the Audit Chair reviewed/approved as arm’s length — not directly a Ware risk but part of the governance context investors monitor .
- Company-level say-on-pay support previously exceeded 99% (2023), indicating shareholder confidence in compensation governance at that time; continued monitoring warranted as the company’s environment evolves .