Constantine Tseretopoulos
About Constantine D. Tseretopoulos
Independent Trustee at TEI and member of the Audit Committee; deemed “independent” under NYSE standards. Born in 1954; physician, founder and Chief of Staff of Lyford Cay Hospital (1987–present); formerly Cardiology Fellow (1985–1987) and Internal Medicine Resident (1982–1985). Serves across the Franklin Templeton fund complex and oversees 10 boards as of the latest proxy.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lyford Cay Hospital | Founder, Owner/Operator, Chief of Staff | 1987–present | Executive medical leadership; operational oversight |
| University of Maryland | Cardiology Fellow | 1985–1987 | Clinical specialization |
| Greater Baltimore Medical Center | Internal Medicine Resident | 1982–1985 | Core clinical training |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| None | — | — | No other public company directorships disclosed |
Board Governance
- Committee assignments: Audit Committee member at TEI; also serves on audit committees at other Franklin Templeton funds (e.g., TDF).
- Independence: Classified as an Independent Trustee under NYSE standards at TEI and EMF.
- Attendance: In FY 2024, TEI held 5 Board meetings, 4 Audit Committee meetings, and 2 Nominating Committee meetings; each Trustee attended at least 75% of aggregate Board and committee meetings.
- Years of service context: Franklin Templeton proxies show service dating back to at least 1998/1999 across the complex (TDF/EMF), indicating long-tenured governance experience; TEI’s proxy does not state his specific TEI start date.
- Family relationships/conflicts: TEI disclosed family relationship only between Rupert H. Johnson, Jr. and Gregory E. Johnson; “There are no other family relationships among the Trustees,” which reduces related-party conflict risk for Dr. Tseretopoulos.
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual Retainer (Independent Trustees across Franklin Templeton) | $220,000 | As of Mar 1, 2023; paid across the complex; allocated to TEI pro rata |
| Regular Board Meeting Fee | $10,000 per meeting | For each regularly scheduled Board meeting |
| Audit Committee Member Retainer | Up to $10,000 annually | Plus $3,000 per Audit Committee meeting attended |
| Audit Committee Chair Supplemental | $25,000 annually | In lieu of member retainer for the chair |
| Lead Independent Trustee Supplemental | $50,000 annually | Paid across investment companies; allocated pro rata |
| Individual Compensation Summary (FY/Calendar as specified) | Amount |
|---|---|
| Aggregate Compensation from TEI (FY ended Dec 31, 2024) | $3,553 |
| Total Compensation from Franklin Templeton Fund Complex (12 months ended Dec 31, 2024) | $281,400 |
| Number of Boards Served within Franklin Templeton Fund Complex | 10 |
Performance Compensation
- No performance-based director compensation (e.g., PSUs, options, TSR-linked awards) disclosed for TEI’s Trustees; TEI does not accrue pension/retirement benefits as part of fund expenses.
Other Directorships & Interlocks
| Company | Role | Overlap/Interlock |
|---|---|---|
| None | — | No other public company boards disclosed; service concentrated within Franklin Templeton fund complex |
Expertise & Qualifications
- Healthcare leadership and operating experience as hospital founder/Chief of Staff, providing risk oversight and operational discipline.
- Long-standing independent governance across multiple Franklin Templeton funds; TEI Audit Committee experience enhances financial reporting oversight.
- The TEI/Franklin Templeton proxies emphasize trustees’ ability to critically analyze materials and fulfill fiduciary obligations; Dr. Tseretopoulos is cited for executive healthcare experience.
Equity Ownership
| Holding Category | Value/Range | Notes |
|---|---|---|
| TEI fund shares | None | Dollar range reported as “None” |
| Aggregate Dollar Range across Franklin Templeton Funds | Over $100,000 | Complex-wide holdings |
| Ownership Alignment Policy | Invest one-third of fees annually into Templeton funds until holdings ≥ 3× annual retainer/meeting fees | All current Board members compliant per TEI proxy |
Governance Assessment
- Strengths: Independent status and active Audit Committee role; complex-wide governance experience; Board attendance threshold met; formal ownership alignment policy requiring investment into Templeton funds. These support investor confidence in oversight quality.
- Potential watchouts: TEI-specific TEI share ownership is “None,” which may signal limited fund-level “skin-in-the-game,” though complex-wide holdings exceed $100k and policy mandates ongoing investment. Heavy service across multiple funds (10 boards) may necessitate monitoring of time commitments and committee workloads.
- Conflicts: No disclosed related-party ties for Dr. Tseretopoulos; TEI notes family relationships only among Johnsons and “no other family relationships,” lowering perceived conflict risk.
RED FLAGS
- None identified in TEI’s proxy regarding hedging/pledging, related-party transactions, or attendance shortfalls for Dr. Tseretopoulos; TEI reports ≥75% attendance for all Trustees. Continue monitoring future proxies and any Form 4s for changes.