Harris J. Ashton
About Harris J. Ashton
Harris J. Ashton (year of birth: 1932) is an Independent Director of Templeton Dragon Fund, Inc. (TDF) and has served on the Board since 1994, overseeing 115 portfolios in the Franklin Templeton fund complex as of 2024–2025 . His core credentials include prior service as President, Chief Executive Officer, and Chairman of General Host Corporation and director roles at RBC Holdings, Inc.; he is described by the Nominating Committee as a former chief executive of NYSE-listed public corporations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| General Host Corporation | President, Chief Executive Officer, Chairman | Until 1998 | Not disclosed |
| RBC Holdings, Inc. | Director | Until 2002 | Not disclosed |
| Bar-S Foods | Director | 1981–2010 | Not disclosed |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| None disclosed | — | — | Proxy lists historic roles (e.g., Bar-S Foods 1981–2010), but no current public company directorships for the past five years are disclosed for Ashton . |
Board Governance
- Independence and tenure: Ashton is an Independent Director serving since 1994, listed among Independent Directors with portfolio oversight of 115–118 fund portfolios across the complex .
- Committee assignments: He is not a member of the Audit Committee (members: Niemiec (Chair), Bates, Checki, Luttig, Tseretopoulos) and not a member of the Nominating Committee (members: Holiday (Chair), Luttig, Thompson) .
- Board structure: At least 75% of Board members are Independent; the Board is chaired by an Interested Director and supported by a Lead Independent Director (Edith E. Holiday) .
- Meetings and attendance: FY 2024 had five Board meetings, four Audit Committee meetings, and two Nominating Committee meetings; FY 2023 had six Board, five Audit, and two Nominating Committee meetings. Each Director then in office attended at least 75% of the aggregate meetings of the Board and committees on which they served .
- Annual meeting engagement: No Directors attended the Fund’s last annual shareholder meeting (May 23, 2024) .
Fixed Compensation
- Structure across Templeton funds: Independent Directors receive an annual retainer of $220,000 and $10,000 per regularly scheduled Board meeting; Audit Committee members receive up to a $10,000 annual retainer plus $3,000 per Audit Committee meeting; Audit Committee Chair receives an additional $25,000; Lead Independent Director receives an additional $50,000. Portions of these fees are allocated to TDF; Interested Directors are not compensated by the Fund. No pension or retirement benefits are accrued as Fund expenses .
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate Compensation from TDF (cash) | $4,752 | $3,132 |
| Total Compensation from Franklin Templeton fund complex | $650,849 | $630,000 |
| Number of Franklin Templeton Boards Served | 35 | 34 |
Performance Compensation
| Compensation Element | FY 2023 | FY 2024 |
|---|---|---|
| Target bonus % | Not disclosed; director pay structured as retainers/meeting fees | |
| Stock awards (RSUs/PSUs): grant date, shares, fair value | Not disclosed | |
| Option awards: strike, expiration, vesting | Not disclosed | |
| Performance metrics tied to pay (e.g., revenue, EBITDA, TSR, ESG) | Not disclosed | |
| Vesting schedules | Not disclosed | |
| Severance/change-of-control terms | Not disclosed | |
| Clawbacks/tax gross-ups | Not disclosed |
Note: Director compensation disclosure for TDF emphasizes cash retainers and meeting fees; no director equity awards, bonuses, options, or performance metrics are described in the proxy statements .
Other Directorships & Interlocks
| Company | Type | Role | Period |
|---|---|---|---|
| Bar-S Foods | Meat packing | Director | 1981–2010 |
| RBC Holdings, Inc. | Bank holding company | Director | Until 2002 |
| General Host Corporation | Retail (nursery and craft centers) | President/CEO/Chairman | Until 1998 |
- Potential conflicts: No related-party transactions or interlocks with TDF’s investment manager are disclosed for Ashton; independence assessments are overseen by the Nominating Committee .
Expertise & Qualifications
- Former chief executive of NYSE-listed public corporations; extensive leadership and governance experience highlighted by the Nominating Committee .
- Long-tenured independent director with oversight across 115–118 portfolios in the fund complex, evidencing capacity for cross-fund governance .
- Past roles in financial and operating leadership at General Host Corporation and director experience at RBC Holdings and Bar-S Foods .
Equity Ownership
| Metric | As of Mar 11, 2024 | As of Mar 10, 2025 |
|---|---|---|
| Dollar Range of Equity Securities in TDF | $1–$10,000 | $1–$10,000 |
| Aggregate Dollar Range across Franklin Templeton funds | Over $100,000 | Over $100,000 |
- Ownership alignment policy: Board members must invest one-third of director fees (excluding committee fees) in Templeton funds annually until the value of such investments equals or exceeds three times the annual retainer plus regular Board meeting fees; all current members are compliant .
- Ownership concentration: Directors and officers as a group owned less than 1% of outstanding TDF shares; no individual Director owned ≥1% .
Governance Assessment
- Independence: Ashton is clearly classified as an Independent Director, not an Interested Director, and is outside the investment manager’s affiliates—supports board effectiveness and shareholder alignment .
- Committee influence: Not serving on the Audit or Nominating Committees limits his direct involvement in financial reporting oversight and director nomination processes, reducing committee-level influence versus peers on those committees .
- Workload and capacity: Serving on 34–35 Franklin Templeton boards raises potential workload considerations; however, the complex asserts benefits from shared director experience and modest per-fund costs .
- Attendance: At least 75% attendance on Board/committee meetings indicates baseline engagement, but absence at the annual shareholder meeting in 2024 may be viewed negatively by some investors on engagement optics .
- Pay and alignment: Director compensation is cash-based and relatively modest at the Fund level, with a strong ownership policy requiring fee reinvestment—positive alignment signal; no pension accrual from Fund expenses .
- RED FLAGS: Not attending the annual shareholder meeting (May 23, 2024) is a soft red flag on shareholder-facing engagement; lack of committee roles (Audit/Nominating) limits direct governance influence; high multi-board commitments may dilute focus depending on meeting cadence .