Kathleen Goetz
About Kathleen Goetz
Independent Trustee of abrdn World Healthcare Fund (THW) since 2021; year of birth: 1966. Professional background includes Independent Consultant (since 2020) and senior commercial roles at Novartis Pharmaceuticals: Vice President & Head of Sales (2017–2019) and Executive Director, Strategic Account Management (2015–2016). Current term for THW expires in 2025 (2028 if re-elected), with staggered terms across the fund complex; oversees four registrants and portfolios in the complex. Education not disclosed in the proxy; independence confirmed under the 1940 Act/NYSE standards via nomination as “Independent Trustee.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Novartis Pharmaceuticals | Vice President and Head of Sales | 2017–2019 | Led commercial sales; relevant to healthcare domain oversight |
| Novartis Pharmaceuticals | Executive Director, Strategic Account Management | 2015–2016 | Strategic accounts leadership; stakeholder engagement |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Self-employed | Independent Consultant | Since 2020 | Advisory capacity; details not disclosed |
| Other public company boards | None disclosed | N/A | “Other Directorships” column blank for Goetz |
Board Governance
| Dimension | Details |
|---|---|
| Board classes/terms | Three classes with 3-year terms; THW Board held 8 meetings in FY2024 |
| Independence | Identified as “Nominee for Independent Trustee” and not an “interested person” |
| Attendance | Each incumbent Trustee attended at least 75% of Board and applicable Committee meetings in FY2024 |
| Committee memberships | Audit Committee (Member); Nominating & Corporate Governance Committee (Member); Private Venture Valuation Committee (Member) |
| Committee chairs | Audit: C. William Maher (Chair, Audit Financial Expert); Nominating: Todd Reit (Chair); PV Valuation: Jeffrey Bailey (Chair) |
| Committee | Role | Chair | FY2024 Meetings | Attendance Statement |
|---|---|---|---|---|
| Board of Trustees (THW) | Trustee | Chair of Board: Todd Reit | 8 | ≥75% attendance by incumbents |
| Audit Committee | Member | C. William Maher | 3 | ≥75% attendance by incumbents |
| Nominating & Corporate Governance | Member | Todd Reit | 1 | ≥75% attendance by incumbents |
| Private Venture Valuation (PV Valuation) | Member | Jeffrey Bailey | 4 | ≥75% attendance by incumbents |
The PV Valuation Committee determines valuations of venture capital securities and milestone holdings subject to Board review; meets at least quarterly to update pricing. Goetz serves alongside Bailey and Maher.
Fixed Compensation
| Trustee | Fund | Aggregate Compensation (FY ended 9/30/2024) |
|---|---|---|
| Kathleen Goetz | HQH | $22,708 |
| Kathleen Goetz | HQL | $22,708 |
| Kathleen Goetz | THQ | $22,708 |
| Kathleen Goetz | THW | $22,708 |
| Trustee | Total Compensation from Fund Complex (FY ended 9/30/2024) |
|---|---|
| Kathleen Goetz | $90,832 |
- None of the Funds have any bonus, profit sharing, pension or retirement plans. Meeting fees/retainer components and chair fees not separately disclosed in the proxy.
Performance Compensation
| Compensation Metric | Used in THW Director Pay? | Notes |
|---|---|---|
| Cash bonus (annual/target/actual) | No | No bonus plans for Trustees disclosed |
| Equity awards (RSUs/PSUs/Options) | Not disclosed | Proxy presents aggregate cash; no equity grant detail disclosed |
| Performance metrics (TSR, revenue, EBITDA, ESG) | Not applicable | No performance-linked trustee compensation structure disclosed |
| Severance/CoC/Clawbacks/Gross-ups | Not disclosed | Not discussed for Trustees in the proxy |
Other Directorships & Interlocks
| Individual | Current Public Company Boards | Prior Public Boards | Interlocks/Shared Directorships |
|---|---|---|---|
| Kathleen Goetz | None disclosed | Not disclosed | Serves across HQH, HQL, THQ, and THW within abrdn fund complex (not external interlocks) |
Expertise & Qualifications
- Healthcare commercial leadership (Novartis sales and strategic accounts) aligns with THW’s sector mandate; supports oversight on valuation and governance committees.
- Audit Committee service with financial literacy requirement; Committee’s designated financial expert is Maher (not Goetz).
- By-Laws emphasize candidates must have substantial expertise relevant to Fund business; independence requirements under the 1940 Act and NYSE are applied via the Nominating Committee charter.
Equity Ownership
| Fund | Beneficial Ownership Dollar Range (as of April 1, 2025) |
|---|---|
| HQH | $10,001 — $50,000 |
| HQL | $10,001 — $50,000 |
| THQ | $10,001 — $50,000 |
| THW | $10,001 — $50,000 |
| Aggregate Dollar Range across all Funds Overseen | Value |
|---|---|
| All funds in Aberdeen family overseen by Goetz | $50,001 — $100,000 |
- As of April 1, 2025, Trustees and officers in aggregate owned less than 1% of each Fund’s outstanding equity securities; none of the Independent Trustees or their immediate family members owned shares of the Investment Adviser or its control affiliates (mitigates related-party conflicts).
Governance Assessment
- Board effectiveness: Goetz contributes healthcare domain expertise and serves on key committees (Audit, Nominating/Gov, PV Valuation). The PV Valuation role is material to investor confidence given venture holdings; quarterly price reviews and Board ratification enhance valuation discipline.
- Independence and engagement: Classified as Independent Trustee; attendance at least 75% across Board and committee duties in FY2024—adequate but not exemplary; precise attendance not disclosed.
- Compensation alignment: Modest, fixed cash compensation across the four funds ($22,708 each; $90,832 total) with no performance pay, options, or pension—reduces pay-for-performance concerns but offers limited equity alignment beyond personal holdings.
- Ownership skin-in-the-game: Personal holdings in each fund are in the $10k–$50k range; aggregate $50k–$100k suggests some alignment but remains small relative to fund scale; aggregate insider ownership under 1% is typical for closed-end funds.
RED FLAGS
- Late Section 16 Form 4: One-day late filed for Goetz’s open-market purchases in HQH/HQL/THQ/THW due to an Adviser administrative oversight—minor compliance lapse; monitor for recurrence.
Risk Mitigants
- Independence safeguards: No ownership of the Investment Adviser by Independent Trustees or their immediate family members; Committee structures and charters in place (Audit and Nominating/Gov).
Open Items (not disclosed)
- Detailed director compensation components (retainer vs meeting/chair fees), equity grants, clawbacks, severance/CoC provisions, and education degrees are not disclosed in the proxy; no other public boards identified.