Constantine D. Tseretopoulos
About Constantine D. Tseretopoulos
Independent Director of Templeton Dragon Fund, Inc. (TDF) since 1998; born 1954. A physician by training, he is the Chief of Staff and owner/operator of Lyford Cay Hospital (since 1987), with prior roles as Cardiology Fellow (University of Maryland, 1985–1987) and Internal Medicine Resident (Greater Baltimore Medical Center, 1982–1985). He oversees 17 portfolios within the Franklin Templeton fund complex and serves on the Fund’s Audit Committee as an independent director under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lyford Cay Hospital | Physician; Chief of Staff; Owner/Operator | 1987–present | — |
| University of Maryland | Cardiology Fellow | 1985–1987 | — |
| Greater Baltimore Medical Center | Internal Medicine Resident | 1982–1985 | — |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Various nonprofit organizations | Director | Not disclosed | Specific entities not listed |
Board Governance
- Independence and committee assignment: Member of the Audit Committee; all members of the Audit Committee (including Tseretopoulos) are independent under NYSE listing standards .
- Tenure on TDF Board: Director since 1998 .
- Board structure: Majority independent Board, with a Lead Independent Director (Edith E. Holiday) who presides at independent director sessions before each scheduled Board meeting .
- Meeting cadence and attendance: In FY2024 there were 5 Board meetings, 4 Audit Committee meetings, and 2 Nominating Committee meetings; each Director in office attended at least 75% of the aggregate of Board and applicable committee meetings. No Directors attended the last annual shareholders’ meeting on May 23, 2024 .
| Governance Metric | FY2024 Value | Notes |
|---|---|---|
| Board meetings held | 5 | — |
| Audit Committee meetings held | 4 | — |
| Nominating Committee meetings held | 2 | — |
| Individual attendance threshold met (≥75%) | Yes (each Director) | Aggregate measure across Board+committees |
| Annual meeting attendance | None attended (May 23, 2024) | — |
Fixed Compensation
- Independent Director fee schedule (complex-wide, with a portion allocated to TDF): annual retainer $220,000; $10,000 per regularly scheduled Board meeting; Audit Committee annual retainer up to $10,000 and $3,000 per Audit Committee meeting; Audit Committee Chair additional $25,000; Lead Independent Director supplemental $50,000 .
- Reimbursement: Independent Directors are reimbursed for Board meeting expenses .
| Compensation Element | Amount | Source |
|---|---|---|
| Annual retainer (Independent Directors) | $220,000 | Complex-wide fees; portion allocated to TDF |
| Per regularly scheduled Board meeting | $10,000 | — |
| Audit Committee retainer | Up to $10,000 | — |
| Audit Committee meeting fee | $3,000 per meeting | — |
| Audit Committee Chair additional retainer | $25,000 | — |
| Lead Independent Director supplemental retainer | $50,000 | — |
| Expense reimbursement | Yes | — |
| Name | Aggregate Compensation from TDF (FY2024) | Total Compensation from Franklin Templeton Fund Complex (12 months ended 12/31/2024) | Number of Boards within Franklin Templeton Fund Complex |
|---|---|---|---|
| Constantine D. Tseretopoulos | $3,267 | $281,400 | 10 |
Performance Compensation
- No performance-linked metrics (e.g., revenue/EBITDA targets or TSR-based awards) are disclosed for Independent Directors; compensation is paid via fixed retainers and meeting fees as outlined above .
Other Directorships & Interlocks
| Category | Company/Institution | Role | Period |
|---|---|---|---|
| Public company boards | None | — | — |
Expertise & Qualifications
- Medical leadership and operating experience as founder/Chief of Staff of a hospital .
- Audit Committee service implies Board-determined financial literacy consistent with Audit Committee charter requirements (committee members must be financially literate and committee includes an audit committee financial expert) .
Equity Ownership
| Holding Metric | TDF | Franklin Templeton Fund Complex (all U.S.-registered funds) |
|---|---|---|
| Dollar range of equity securities | None | Over $100,000 |
- Director investment/ownership policy: Board members must invest one-third of fees annually in Templeton funds until holdings equal/exceed three times annual retainer and regular meeting fees; all current Board members, including nominees, are compliant with this policy .
Governance Assessment
- Board effectiveness: Long-serving independent director (since 1998) with consistent committee service on Audit Committee; independence affirmed under NYSE standards .
- Alignment: While no TDF shares are disclosed for Tseretopoulos, he reports over $100,000 aggregate fund complex holdings and is compliant with the director investment policy requiring significant fund holdings—supporting alignment with shareholders across the complex .
- Engagement: Each Director met the ≥75% attendance threshold for Board/committee meetings in FY2024; however, no Directors attended the 2024 annual shareholders’ meeting, which may be viewed as a modest engagement gap .
- Conflicts/interlocks: No public company directorships are listed for Tseretopoulos; primary occupation is outside the asset management complex, reducing interlock/conflict risks. Audit Committee composition is fully independent, and auditor independence processes are documented in the charter .
RED FLAGS
- No directors attended the most recent annual shareholders’ meeting (May 23, 2024), potentially signaling limited direct shareholder engagement at the meeting level .