Anne Kritzmire
About Anne Kritzmire
Anne W. Kritzmire is the Lead Independent Trustee of Thornburg Income Builder Opportunities Trust (TBLD), serving since the Trust’s inception in 2020 and classified as an Independent Trustee under the 1940 Act . Her background spans 20+ years in investment management, including senior leadership at Nuveen Investments; she holds a B.S. in Electrical Engineering (Notre Dame) and an MBA (Kellogg) and previously held FINRA Series 7, 24, 65 registrations . Year of Birth: 1962, with bylaws requiring independent trustee retirement by age 75 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Nuveen Investments | Head of Multi-Asset/Solutions Marketing | 2018–2020 | Led solutions marketing across asset classes |
| Nuveen Investments | Managing Director, Closed-End Funds | 2012–2018; 2005–2010 | Oversaw CEF strategy, support, education |
| Nuveen Investments | Managing Director, Channel Marketing | 2011–2012 | Distribution/channel initiatives |
| AW Kritzmire Consulting | Principal (business and leadership consulting) | Since 2021 | Advisory/consulting leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Advisors Series Trust | Trustee/Director | Sep 2024–present | Public registered investment company oversight |
| Lake Forest Graduate School of Management | Business Leader Faculty | Since 2021 | Executive education |
| Village of Long Grove | Trustee and Finance Commissioner | Not disclosed | Municipal finance oversight |
| Closed-End Fund Association | President | Not disclosed | Industry leadership (closed-end funds) |
| Chicago Public Media (WBEZ) | Director | Not disclosed | Non-profit media governance |
Board Governance
- Board composition and leadership: 4 trustees as of Nov 6, 2024 after the board reduced from five; Benjamin D. Kirby resigned Oct 1, 2024. Chair is an interested trustee (Nimish S. Bhatt); independent trustees chair both standing committees; Kritzmire serves as Lead Independent Trustee .
- Independence: Kritzmire is an Independent Trustee; all members of Audit and Nominating & Corporate Governance Committees are independent per NASDAQ standards .
- Engagement: Audit Committee held 4 meetings; Nominating & Corporate Governance held 3 meetings in the last fiscal year; the Trust does not require trustees to attend annual shareholder meetings .
| Committee | Members | Chair | Meetings FY last year |
|---|---|---|---|
| Audit | Anne Kritzmire; Dina Tantra; Brian Wixted | Brian Wixted | 4 |
| Nominating & Corporate Governance | Anne Kritzmire; Dina Tantra; Brian Wixted | Dina Tantra | 3 |
Fixed Compensation
- Structure (current): Independent Trustees receive $50,000 annual retainer; Lead Independent receives $8,000; Audit and Nominating Chairs receive $6,000 each; other committee members receive $1,500 per committee annually. Interested trustees/officers receive no compensation from the Trust .
- Structure (prior to Jan 1, 2023): Retainer $20,000; per-meeting fee $2,500; Lead Independent $3,500; committee chairs $2,500; members $1,500 .
| Metric | FY 2022 (ended Sep 30, 2022) | FY 2023 (ended Sep 30, 2023) | FY 2024 (ended Sep 30, 2024) |
|---|---|---|---|
| Aggregate Compensation from Trust (Anne Kritzmire) | $38,000 | $54,875 | $61,000 |
| Role-linked cash fees (Lead Independent premium) | Included in above | Included in above | Included in above |
| Equity/Options (directors) | None disclosed | None disclosed | None disclosed |
Performance Compensation
- No performance-based compensation for directors (no bonus, stock awards, options, or performance metrics disclosed for trustees). Compensation is cash-based retainers and committee fees .
| Performance Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Target bonus % | Not applicable (directors) | Not applicable (directors) | Not applicable (directors) |
| Stock awards (RSUs/PSUs) | None disclosed | None disclosed | None disclosed |
| Option awards | None disclosed | None disclosed | None disclosed |
| Performance metrics tied to pay | None disclosed | None disclosed | None disclosed |
Other Directorships & Interlocks
| Company/Entity | Type | Role | Start | Relevance/Interlock |
|---|---|---|---|---|
| Advisors Series Trust | Registered Investment Company | Trustee/Director | Sep 2024 | Industry peer; no disclosed conflict with TBLD |
| Lincoln Variable Insurance Products Trust | Registered Investment Company | Wixted Trustee/Chair Audit (peer on TBLD board) | 2019–present | Shared service expertise across fund boards (not Kritzmire’s role) |
Expertise & Qualifications
- Industry: Strategic marketing, closed-end funds, multi-asset solutions; President of Closed-End Fund Association; senior roles at Abbott and IBM; municipal finance leadership .
- Education: B.S. Electrical Engineering, University of Notre Dame; MBA, Kellogg School of Management; prior FINRA Series 7, 24, 65 registrations .
Equity Ownership
| As of Date | Dollar Range of TBLD Equity Beneficially Owned (Anne Kritzmire) | Aggregate Dollar Range across family RICs |
|---|---|---|
| Dec 31, 2022 | None | None |
| Dec 31, 2023 | $1–10,000 | $1–10,000 |
| Dec 31, 2024 | $10,000–25,000 | $10,000–25,000 |
- Additional ownership/conflict check: As of Dec 31, 2024 and Dec 31, 2023, trustees and immediate family members did not beneficially own any class of securities of the investment adviser or principal underwriter or their affiliates .
Governance Assessment
- Board effectiveness: Kritzmire’s role as Lead Independent Trustee and membership on both standing committees supports independent oversight; committees are fully independent and meet regularly (4 Audit, 3 Nominating in last fiscal year) .
- Independence and conflicts: Independent classification affirmed; no adviser/underwriter ownership by trustees/families; no related-party transactions disclosed involving Kritzmire .
- Compensation and alignment: Director pay is entirely cash-based with no equity or options, limiting direct market alignment; however, Kritzmire’s personal TBLD holdings increased to the $10,000–25,000 range by 2024, up from none in 2022 and $1–10,000 in 2023 .
- Engagement signals: The Trust does not require trustees to attend annual shareholder meetings; independent trustees meet with counsel and auditors absent management/interested trustees; board reduced size in late 2024, potentially increasing workload per trustee .
- Red flags to monitor:
- No director equity compensation or ownership guidelines disclosed; alignment relies on voluntary share ownership .
- Board chair is an interested trustee, though mitigated by independent committee chairs and a Lead Independent Trustee structure .
- No explicit meeting attendance rates disclosed for individual trustees; only committee meeting counts are provided .