Avedick B. Poladian
About Avedick B. Poladian
Avedick B. Poladian (born 1951) is an Independent Trustee of Western Asset Inflation-Linked Income Fund (WIA) and a Class I nominee with service on the Fund’s board since 2007; if re-elected in 2025 his term runs to the 2028 annual meeting . His core credentials include business, finance, and accounting expertise built over senior operating roles in real estate and a prior partnership at Arthur Andersen .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lowe Enterprises, Inc. (private real estate & hospitality) | Executive Vice President & Chief Operating Officer | 2002–2016 | Senior operating oversight |
| Lowe Enterprises, Inc. | Director and Advisor | 2017–present | Strategic advisory |
| Arthur Andersen LLP | Partner | 1974–2002 | Finance and accounting leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Public Storage | Director | Since 2010 | Current board service |
| Occidental Petroleum Corporation | Director | Since 2008 | Current board service |
| California Resources Corporation | Director | 2014–2021 | Former board service |
Board Governance
- Committee memberships: Audit; Executive and Contracts (“Contracts”); Governance and Nominating (“Governance”); Investment and Performance (“Performance”). Poladian is a member of all four standing committees .
- Committee chairs (signals of influence): Audit—Robert Abeles (Chair); Governance—Jaynie Studenmund (Chair in 2025; previously Anita DeFrantz in 2024); Contracts—William E.B. Siart (Chair); Performance—Susan Kerley (Chair). Poladian does not hold chair roles, suggesting contributory rather than agenda-setting influence .
- Independence: The Fund’s board is majority independent (>75%), and Poladian is an Independent Trustee (not an “interested person” under the 1940 Act) .
- Attendance: In FY ended Nov 30, 2024, the Board held 8 meetings; Audit 6, Governance 3, Performance 5, Contracts 2. Each Trustee attended at least 75% of meetings of the Board and committees on which they served; Trustees did not attend the 2024 annual shareholder meeting (consistent with prior-year disclosure) .
- Election outcome (investor support signal): At the May 16, 2025 meeting, Poladian received 12,153,376 “FOR” votes and 9,250,082 “WITHHELD” votes (0 abstain); he was duly elected to serve until 2028 .
Fixed Compensation
| Metric | FY Ended Nov 30, 2023 | FY Ended Nov 30, 2024 |
|---|---|---|
| Aggregate compensation from WIA (Fund) ($) | $1,308 | $1,337 |
| Pension/retirement benefits accrued ($) | $0 | $0 |
| Estimated annual benefits upon retirement ($) | $0 | $0 |
| Total compensation from Fund Complex (calendar year) ($) | $334,000 (year ended Dec 31, 2023) | $347,000 (year ended Dec 31, 2024) |
Notes:
- Independent Trustees are paid an annual retainer plus meeting fees; additional compensation is paid to committee and board chairs (Poladian is not a chair) .
Performance Compensation
| Item | Disclosure |
|---|---|
| Equity awards (RSUs/PSUs/Options) | Not applicable; Independent Trustees receive cash retainers/meeting fees; no equity awards disclosed |
| Performance metrics tied to pay (e.g., TSR, EBITDA) | None disclosed for Trustees; compensation is not performance-based |
| Clawbacks / COI-related pay modifiers | None disclosed for Trustees |
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Conflict Consideration |
|---|---|---|
| Public Storage | Director | No WIA service-provider link disclosed; low direct conflict risk based on proxy |
| Occidental Petroleum | Director | No WIA service-provider link disclosed; WIA is a fixed-income inflation-linked fund, reducing direct business conflict likelihood |
| California Resources (former) | Former Director | No current interlock |
Context:
- The proxy discloses certain relationships relevant to other Trustees (e.g., Cascade/Gates investments overseen by Michael Larson; Pacific Mutual affiliate arrangements), but no specific related-party exposure is disclosed for Poladian vis-à-vis WIA .
Expertise & Qualifications
- Business, finance, and accounting expertise; prior partnership at a multinational accounting firm (Arthur Andersen); service as EVP/COO at a private real estate and hospitality firm; extensive public company board experience .
- Meets Governance Committee qualifications (education/experience thresholds; director-limit under bylaws; no disqualifying regulatory history) .
Equity Ownership
| Metric | As of Dec 31, 2023 | As of Dec 31, 2024 |
|---|---|---|
| Dollar range of WIA equity securities beneficially owned | None | None |
| Aggregate dollar range across family of investment companies | Over $100,000 | None |
Notes:
- Trustees and officers as a group owned <1% of WIA outstanding shares as of each record date .
Insider Trades (Other Boards)
| Date | Company | Filing Type | Note |
|---|---|---|---|
| Apr 2, 2025 | Occidental Petroleum (OXY) | Form 4 | Recent insider report filed by Poladian |
| May 7, 2025 | Occidental Petroleum (OXY) | Form 4 | Recent insider report filed by Poladian |
| 2025 (index) | Occidental Petroleum (OXY) | SEC index | SEC EDGAR entry for Poladian Form 4 series |
Governance Assessment
- Board effectiveness and engagement: Poladian participates across all key oversight committees (Audit, Governance, Contracts, Performance), reinforcing broad involvement in financial reporting, policy, contractual oversight, and performance review; however, he does not hold chair roles, limiting agenda-setting leverage .
- Independence and conflicts: Classified as Independent; no related-party transactions or conflicts disclosed for Poladian. The proxy details certain relationships for other trustees and service provider affiliations, but none implicate Poladian directly .
- Attendance and engagement: Board and committee workload is material (8/6/3/5/2 meetings respectively in FY 2024), with ≥75% attendance met; Trustees did not attend the shareholder meeting, which is typical in this fund’s prior-year disclosure and not a red flag in isolation for closed-end funds .
- Ownership alignment: Poladian reported no beneficial ownership in WIA in both 2023 and 2024; aggregate holdings across the fund family declined from “Over $100,000” (2023) to “None” (2024), which may be perceived as weaker alignment with WIA investors despite broad oversight responsibilities .
- Investor confidence signal: Re-elected in 2025 with 12.15M votes “FOR” vs. 9.25M “WITHHELD” (0 abstain), indicating meaningful support but also a notable withheld vote block, warranting continued monitoring of shareholder sentiment .
RED FLAGS
- Zero direct ownership in WIA across consecutive years; aggregate family holdings also fell to “None” in 2024—potentially negative for perceived skin-in-the-game .
- No disclosed performance-based compensation or equity-based awards for Trustees; while standard for closed-end fund governance, it removes direct financial alignment mechanisms tied to fund performance .
Mitigants
- Broad committee participation across audit, governance, contracts, and performance oversight functions; strong board independence structure (>75%) and independent legal counsel .
- Clear committee charters and pre-approval policies for audit services; external auditor independence oversight processes in place .