Peter J. Taylor
About Peter J. Taylor
Peter J. Taylor (born 1958) is an Independent Trustee of Western Asset Inflation-Linked Opportunities & Income Fund (NYSE: WIW), serving since 2019 and nominated for re-election to a term expiring at the 2028 Annual Meeting. He is retired; previously President of ECMC Foundation (2014–2023) and Executive Vice President & Chief Financial Officer for the University of California system (2009–2014), bringing business and finance expertise to the Board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ECMC Foundation | President | 2014–2023 | Led a nonprofit foundation; finance and grantmaking oversight |
| University of California system | EVP & Chief Financial Officer | 2009–2014 | Enterprise finance leadership at a large public institution |
External Roles
| Organization | Role | Tenure | Notes / Interlocks |
|---|---|---|---|
| Edison International | Director | Since 2011 | Public company board service |
| Pacific Mutual Holding Company | Director | Since 2016 | Affiliates receive compensation from FTFA or its affiliates for services to certain registered investment companies advised by Western Asset or affiliates (potential interlock) |
| Ralph M. Parson Foundation | Director | Since 2015 | Non-profit board service |
| 23andMe, Inc. | Director (former) | 2021–2024 | Public company board service concluded in 2024 |
| California State University | Trustee (former) | 2015–2022 | Governance experience in higher education |
| Kaiser Family Foundation | Director (former) | 2012–2022 | Health policy nonprofit governance |
Board Governance
- Independence: Taylor is an Independent Trustee; the Board’s Chair (William E.B. Siart) and all committee chairs are Independent Trustees; Independent Trustees constitute more than 75% of the Board .
- Committees: Audit; Governance & Nominating; Executive & Contracts; Investment & Performance (member on each; not a chair) .
- Audit Committee independence: All members (including Taylor) meet NYSE independence standards .
- Engagement and attendance: In FY2024, each Trustee attended at least 75% of Board/committee meetings; Trustees did not attend the Fund’s 2024 annual shareholder meeting. FY2023 attendance similarly ≥75%; Trustees did not attend the 2023 annual meeting .
- Executive sessions: Independent Trustees regularly meet outside management’s presence and are advised by independent legal counsel .
Meetings held (oldest → newest):
| Committee | FY 2023 | FY 2024 |
|---|---|---|
| Board | 6 | 8 |
| Audit | 5 | 6 |
| Governance | 3 | 3 |
| Investment & Performance | 5 | 5 |
| Executive & Contracts | 2 | 2 |
Fixed Compensation
- Structure: Independent Trustees receive an annual retainer plus meeting fees; additional compensation applies to chair roles (Taylor is not a chair). Trustees are reimbursed for out-of-pocket meeting expenses; officers receive no remuneration from the Fund .
Director compensation (oldest → newest):
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate Compensation from WIW (USD) | $3,648 | $5,981 |
| Total Compensation from WIW Fund Complex (USD) | $337,000 | $350,000 |
Performance Compensation
- No variable/performance-based compensation is disclosed for Trustees (no stock awards, options, PSUs, or performance metrics tied to pay; compensation consists of cash retainer and meeting fees) .
Other Directorships & Interlocks
| Company | Type | Role | Interlock/Conflict Notes |
|---|---|---|---|
| Edison International | Public | Director | None disclosed with WIW service providers |
| Pacific Mutual Holding Co. | Private mutual | Director | Affiliates of Pacific Holdings receive compensation from FTFA or its affiliates for services to registered investment companies advised by Western Asset/affiliates (monitor for related-party dynamics) |
| 23andMe, Inc. | Public | Director (former) | Ended 2024 |
Expertise & Qualifications
- Board lists Taylor’s “business and finance expertise” and experience as CFO, president, and board member across business and nonprofit organizations .
- Qualifications across Board emphasize risk oversight, effective interaction with the Investment Adviser/Subadvisers, and independent judgment .
Equity Ownership
- Beneficial ownership in WIW: None as of December 31, 2023 and December 31, 2024 .
- Aggregate holdings across family of investment companies overseen: Over $100,000 as of December 31, 2023 and December 31, 2024 .
Ownership (oldest → newest):
| Metric | As of Dec 31, 2023 | As of Dec 31, 2024 |
|---|---|---|
| Dollar Range of Equity Securities in WIW | None | None |
| Aggregate Dollar Range across Family of Investment Companies | Over $100,000 | Over $100,000 |
Governance Assessment
- Strengths: Independent Trustee with deep finance leadership (UC CFO) and nonprofit executive experience; member of all key committees; Board structure emphasizes independent leadership and executive sessions; audit committee independence consistent with NYSE standards .
- Alignment concerns: No WIW share ownership disclosed (as of end-2023 and end-2024), limiting direct “skin-in-the-game” alignment with fund shareholders .
- Engagement signal: Trustees did not attend the 2023 or 2024 annual shareholder meetings, which may be viewed negatively by some governance-focused investors despite ≥75% committee/Board meeting attendance .
- Potential conflict/interlock: Taylor’s directorship at Pacific Mutual Holding Company, where affiliates receive compensation from FTFA or its affiliates related to registered investment companies advised by Western Asset/affiliates, merits monitoring for any related-party transaction exposure or perceived influence over service-provider economics; Board disclosure addresses this relationship .
- Compliance: Fund reported Section 16/30(h) filing compliance for Trustees in FY2023, noting one late Form 3 for a different individual (Michael C. Buchanan), with no issues attributed to Taylor .
RED FLAGS to monitor
- No WIW share ownership by Taylor (alignment) .
- Board’s non-attendance at annual shareholder meetings in consecutive years (engagement optics) .
- Interlock via Pacific Mutual Holding Company affiliates receiving compensation from FTFA/affiliates for services to funds advised by Western Asset/affiliates (related-party exposure risk) .