Sheryl Pressler
About Sheryl K. Pressler
Independent Trustee of the Voya fund complex since 2006; born in 1950 and anticipated to retire at year-end 2025 under the Board’s age-75 retirement policy. Former CIO of CalPERS and CEO of Lend Lease Real Estate Investments, with earlier retirement plan leadership at McDonnell Douglas; active governance contributor as long-time Chair of the Contracts Committee. Education: B.A. (Webster University) and M.B.A. (Washington University).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lend Lease Real Estate Investments, Inc. | Chief Executive Officer | 2000–2001 | Led real estate investment management and mortgage servicing operations. |
| California Public Employees’ Retirement System (CalPERS) | Chief Investment Officer | 1994–2000 | Oversaw investment strategy and governance for state pension fund. |
| McDonnell Douglas Corporation | Director of Retirement Funds Management | 1981–1994 | Managed corporate retirement fund investments and policies. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Centerra Gold | Director | May 2008–May 2025 | Public company board service concluded May 2025. |
| Stillwater Mining Company | Director | May 2002–May 2013 | Former public company directorship. |
| Financial Consultant | Consultant | May 2001–Present | Independent financial consulting. |
Board Governance
- Independence: Not an “interested person”; classified as an Independent Trustee under the 1940 Act.
- Committees and chair roles:
- Contracts Committee – Chair (all Independent Trustees); meets ~5x/year.
- Compliance Committee – Member; Chair: John V. Boyer; meets ~4x/year.
- Investment Review Committee F (IRC F) – Member; Chair: Christopher P. Sullivan; meets ~5x/year.
- Attendance and engagement:
- Board meets regularly eight times per year; no Board member attended fewer than 75% of Board and committee meetings in the most recent fiscal year.
- Tenure and transition: Trustee since 2006; anticipated retirement at end of 2025 per age policy (75).
- Board leadership: Joseph E. Obermeyer serves as Board Chair (Independent).
Fixed Compensation
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual retainer (Independent Trustee) | $270,000 | Paid quarterly; each Fund pays pro rata by average net assets. |
| Committee chair retainer (Contracts Committee) | $65,000 | Chair retainers vary by committee; Pressler’s committee chair retainer is $65,000. |
| Meeting fees | $80,000 | $10,000 per attendance at eight regularly scheduled meetings (4 quarterly, 2 auxiliary, 2 annual contract reviews). |
| Total compensation from Funds (FY ended Oct 31, 2024) | $415,000 | As reported; matches retainer + chair + meetings math. |
| Deferred compensation election | $15,000 | Amount Pressler deferred in FY ended Oct 31, 2024. |
| Future Payment (retirement benefit) | 2× annual compensation (see cap) | Payable at retirement/death/disability; capped to annual retainer as of May 9, 2007; payable by relevant Voya funds; lump sum or three installments. |
Performance Compensation
| Element | Disclosure |
|---|---|
| Equity awards (RSUs/PSUs/options) | None described for Independent Trustees in this proxy. |
| Bonus/variable pay | Not described; Independent Trustee compensation structured as retainers and meeting fees. |
| Performance metrics tied to pay | Not applicable; director pay not linked to TSR/EBITDA/etc. in this proxy. |
Other Directorships & Interlocks
| Company | Sector | Role | Overlap/Interlocks |
|---|---|---|---|
| Centerra Gold | Metals & Mining | Director (2008–2025) | No interlocks disclosed with Voya funds’ service providers in proxy. |
| Stillwater Mining Company | Metals & Mining | Director (2002–2013) | No interlocks disclosed with Voya funds’ service providers in proxy. |
As of the record date, none of the Independent Trustees (or immediate family) owned interests in securities of the Adviser, Principal Underwriter, or entities controlling/controlled by common control—reducing related-party exposure.
Expertise & Qualifications
- Institutional investment leadership: CIO at CalPERS; CEO at Lend Lease Real Estate Investments.
- Retirement plan governance and operations expertise from McDonnell Douglas tenure.
- Longstanding fund governance experience; Contracts Committee Chair since 2007.
- Academic credentials: B.A. (Webster), M.B.A. (Washington University).
Equity Ownership
| Fund | Beneficial Ownership Range |
|---|---|
| Voya Large Cap Value Fund | Over $100,000. |
| Voya Multi-Manager Emerging Markets Equity Fund | $50,001–$100,000. |
| Aggregate across Voya fund family | Over $100,000. |
Independence/affiliates: As of record date, Independent Trustees and immediate family members held no interests in the Adviser, Principal Underwriter, or affiliated control entities.
Governance Assessment
-
Strengths
- Independent status with deep institutional investment and retirement fund experience; adds rigor to advisory contract reviews and oversight.
- High engagement: serves as Chair of the Contracts Committee and member of Compliance and IRC F; meets Board attendance threshold.
- Alignment: material personal investments in select Voya funds; no financial interests in Voya’s advisory or distribution affiliates.
-
Risks / Red Flags
- Future Payment retirement benefit equal to 2× annual compensation (capped to historical retainer) may create perceived entrenchment or reduce pay-for-performance linkage.
- Near-term succession risk given anticipated retirement at year-end 2025; committee leadership transitions (Contracts Committee) warrant monitoring.
- Compensation structure is fully cash-based retainers/meeting fees without explicit performance metrics—limited direct linkage to fund outcomes.
-
Additional context
- Board meets eight times annually; Compliance typically 4×, Contracts 5×, IRC F 5×—supports ongoing oversight cadence.