Rose DiMartino
About Rose DiMartino
Independent Trustee of abrdn World Healthcare Fund (NYSE: THW) since 2023; year of birth 1952. Retired attorney—formerly Partner (1991–2017) and Senior Counsel (2017–2019) at Willkie Farr & Gallagher LLP. Serves on THW’s Audit Committee and Nominating & Corporate Governance Committee; she is not a committee chair. THW has a staggered board; DiMartino is a Class B Trustee with the THW term expiring in 2026; the Board Chair is independent (Todd Reit).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Willkie Farr & Gallagher LLP | Partner | 1991–2017 | Corporate/legal governance expertise |
| Willkie Farr & Gallagher LLP | Senior Counsel | 2017–2019 | Corporate/legal governance expertise |
| — | Retired | Since 2019 | — |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships reported |
Board Governance
- Independence: Listed as a nominee/Trustee in the “Independent Trustee” category. The THW Board consists of six trustees, five of whom are independent; Board Chair is independent (Todd Reit).
- Committee assignments (THW): Audit Committee (member); Nominating & Corporate Governance Committee (member). She is not on the Private Venture Valuation Committee (PVVC). Chairs: Audit—C. William Maher; Nominating—Todd Reit.
- Attendance and engagement: In FY 2024, THW’s Board met 8 times; Audit Committee met 3 times; Nominating & Corporate Governance met 1 time; PVVC met 4 times. Each incumbent Trustee attended at least 75% of Board and applicable committee meetings.
- Structure: Staggered board; THW Class B term ends 2026.
Fixed Compensation
| Metric | FY 2024 HQH | FY 2024 HQL | FY 2024 THQ | FY 2024 THW | Total from Fund Complex |
|---|---|---|---|---|---|
| Aggregate Trustee Compensation ($) | 22,208 | 22,208 | 22,208 | 22,208 | 164,772 |
| Plan features | colspan=5 | The Funds report no bonus, profit sharing, pension or retirement plans for Trustees |
Notes:
- Officers are paid by the adviser; Trustee compensation is paid by the Funds. No bonus or pension plans are maintained by the Funds for Trustees. The proxy does not specify a separate retainer/meeting fee schedule or equity grants for Trustees.
Performance Compensation
| Component | Disclosure |
|---|---|
| Annual bonus/short-term incentive | None; Funds report no bonus plans for Trustees |
| Equity awards (RSUs/PSUs/options) | Not disclosed; compensation table lists only cash aggregates |
| Long-term performance metrics (TSR, EBITDA, ESG) | Not disclosed/applicable for Trustees |
| Clawback provisions | Not disclosed for Trustees in the proxy |
| Change-in-control/severance | Not disclosed for Trustees in the proxy |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None reported |
| Committee roles at other issuers | None reported |
| Interlocks/shared directorships with competitors/suppliers/customers | None reported |
Expertise & Qualifications
- Legal and governance expertise from a multi-decade career at Willkie Farr & Gallagher LLP (Partner and Senior Counsel).
- Service on Audit and Nominating & Corporate Governance Committees indicates focus on financial reporting oversight, board self-assessment, nominations, and governance processes.
- The Boards emphasize Trustees’ ability to critically review, evaluate, and exercise independent judgment, supported by education and professional training/experience.
Equity Ownership
| Holding | Dollar Range Owned | Note |
|---|---|---|
| THW | $10,001 — $50,000 | Dollar range as of Apr 1, 2025; percent ownership not determinable from range |
| HQH | $10,001 — $50,000 | |
| HQL | $10,001 — $50,000 | |
| THQ | $10,001 — $50,000 | |
| Aggregate across Fund family | $50,001 — $100,000 | Trustees/officers in aggregate own <1% of each Fund’s shares |
| THW shares outstanding (Record Date) | 39,849,957.6 | Context for scale; individual share count not disclosed |
Additional alignment and conflicts context:
- As of Apr 1, 2025, none of the Independent Trustees or their immediate family members owned any shares of the Investment Adviser or entities controlling/controlled by it (reduces related-party exposure).
- Section 16(a) compliance: The proxy cites late filings for certain individuals (Alan Goodson; one-day late for Kathleen Goetz). No late filings are attributed to Rose DiMartino.
Governance Assessment
-
Strengths
- Independent Trustee with deep legal/governance background; sits on Audit and Nominating & Governance—key levers for board effectiveness and oversight.
- Attendance threshold met (≥75%) amid a robust meeting cadence (8 Board; 3 Audit; 1 Nominating in FY 2024).
- Personal investment across all four related funds ($10k–$50k each), signaling alignment; aggregate Trustee/Officer ownership remains small (<1%), typical for closed-end funds.
- No other public company boards and no Adviser share ownership by Independent Trustees—reduced interlocks and related-party ties.
-
Watch items
- Staggered board structure (THW Class B term ends 2026) can entrench governance but is standard for many CEFs.
- Trustee pay is cash-only per disclosure; absence of equity-based retainers may modestly limit alignment, though dollar-range share ownership offsets this. The proxy does not disclose equity awards or detailed fee schedules.
- An “Interested” Trustee (Christian Pittard, employed by the Adviser) sits on the Board, though the Board majority and Chair are independent, and committee memberships are entirely independent.
-
Red flags
- None specific to Rose DiMartino identified in the proxy: no related-party transactions, no delinquent Section 16(a) filings noted for her, no pledging disclosed.