Avedick B. Poladian
About Avedick B. Poladian
Avedick B. Poladian (born 1951) is an Independent Trustee of Western Asset Premier Bond Fund (NYSE: WEA), serving since 2007. His core credentials include extensive business, finance, and accounting expertise gained as a Partner at Arthur Andersen LLP (1974–2002) and as Executive Vice President and Chief Operating Officer of Lowe Enterprises, Inc. (2002–2016), followed by Director and Advisor roles at Lowe Enterprises since 2017 .
Past Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| Arthur Andersen LLP | Partner | 1974–2002 | Senior accounting/assurance leadership; Board cites his finance and accounting expertise |
| Lowe Enterprises, Inc. | EVP & COO | 2002–2016 | Operational leadership at a real estate and hospitality firm |
| Lowe Enterprises, Inc. | Director & Advisor | Since 2017 | Ongoing strategic advisory capacity |
External Roles
| Company | Role | Tenure | Notes |
|---|---|---|---|
| Public Storage | Director | Since 2010 | Current public company directorship |
| Occidental Petroleum Corporation | Director | Since 2008 | Current public company directorship |
| California Resources Corporation | Director | 2014–2021 | Former public company directorship |
Board Governance
- Independence: Poladian is an Independent Trustee (not an “interested person”) and sits on all four standing committees that are composed entirely of Independent Trustees (other than Performance, which includes interested Trustees). He is not listed as a committee chair .
- Committee memberships: Audit; Governance & Nominating; Executive & Contracts; Investment & Performance .
- Attendance: Each Trustee attended at least 75% of Board and applicable committee meetings in the most recent fiscal year .
| Governance Element | FY 2024 (meetings held) | Notes |
|---|---|---|
| Board | 8 | Independent Trustees >75% of Board; Chairperson is Independent (William E. B. Siart) |
| Audit Committee | 6 | Chair: Robert Abeles, Jr.; members include Poladian |
| Governance & Nominating Committee | 3 | Chair: Jaynie Miller Studenmund; members include Poladian |
| Performance Committee | 5 | Chair: Susan B. Kerley; members include Poladian |
| Executive & Contracts Committee | 2 | Chair: William E. B. Siart; members include Poladian |
| Trustee Attendance | ≥75% | Each Trustee attended ≥75% of Board/committee meetings |
Fixed Compensation
Director compensation is structured as an annual retainer plus per-meeting fees, with additional compensation for Board and committee chairs; Independent Trustees are reimbursed for out-of-pocket meeting expenses .
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate Compensation from WEA ($) | 1,875 | 1,134 |
| Total Compensation from Fund Complex ($) | 334,000 | 347,000 |
| Pension/Retirement Benefits | 0 | 0 |
| Estimated Annual Benefits Upon Retirement | 0 | 0 |
| Chair Fees Received | Not applicable (not a chair) | Not applicable (not a chair) |
Performance Compensation
- No performance-based compensation, stock option awards, RSUs/PSUs, or equity-linked director compensation is disclosed for Trustees; compensation consists of cash retainers/meeting fees, with chair premiums where applicable .
Other Directorships & Interlocks
| Company | Relationship to WEA | Interlock / Potential Conflict Notes |
|---|---|---|
| Public Storage (PSA) | External board | No related-party transactions with WEA disclosed in proxy; meets Governance Committee cap of ≤5 public boards |
| Occidental Petroleum (OXY) | External board | No related-party transactions with WEA disclosed; time-commitment monitored by Governance & Nominating Committee |
| California Resources (CRC) | Former external board | No ongoing interlock; tenure ended 2021 |
Expertise & Qualifications
- The Board cites Poladian’s business, finance, and accounting expertise, including experience as a board member of various businesses and as a partner of a multinational accounting firm (Arthur Andersen) .
- Professional background includes senior operating roles in real estate and hospitality (Lowe Enterprises) .
Equity Ownership
| Date | Dollar Range of Equity Securities in WEA | Aggregate Dollar Range in Franklin Templeton “Family of Investment Companies” |
|---|---|---|
| Dec 31, 2023 | None | Over $100,000 |
| Dec 31, 2024 | None | None |
- As of Dec 31, 2024, Trustees and officers as a group beneficially owned less than 1% of WEA shares .
Governance Assessment
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Strengths
- Broad committee participation (Audit, Governance, Contracts, Performance) supports board effectiveness and risk oversight; committees are chaired by Independent Trustees, and Independent Trustees constitute >75% of the Board .
- Board-level processes (charters, pre-approval policies, independent counsel, and periodic risk reports) indicate robust governance practices .
- Attendance met ≥75% threshold in FY 2024, supporting engagement .
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Watch items
- Year-over-year increase in total compensation across the fund complex ($334,000 in FY 2023 to $347,000 in FY 2024) should be assessed against workload/meeting cadence and committee scope to ensure pay-for-service alignment .
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RED FLAGS
No direct WEA share ownership as of both Dec 31, 2023 and Dec 31, 2024, which may weaken “skin-in-the-game” alignment for investors focused on director ownership .
Multiple external public company directorships (PSA and OXY) increase time-commitment complexity; while permitted under bylaws (≤5 boards), monitoring is warranted to avoid overboarding risks .
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No related-party transactions or conflicts involving Poladian are disclosed in WEA proxies; committees and independent leadership structure are designed to address conflicts where they arise .