The New Jersey Chapter of the National Association of Corporate Directors will recognize three board members and two boards at its second annual Director of Year Awards this spring.
Former Johnson & Johnson Chairman and Chief Executive Officer William Weldon, Hewlett Packard Enterprise Chairman Patricia Russo, former Campbell Soup Co. Chairman and CEO Douglas Conant, and the boards of NJM Insurance Group and PSEG will be honored by NACD NJ on May 11 at the Pleasantdale Chateau in West Orange.
“Best-in-class governance is critical to the long-term growth and sustainability of our corporate community. New Jersey has a rich history of significant contributions to our nation and the world at large, from technology to life sciences and more, and we are very excited to celebrate these leaders in governance,” Thomas Fuller, president and CEO of NACD NJ, said in a prepared statement.
New Jersey has a rich history of significant contributions to our nation and the world at large, from technology to life sciences and more, and we are very excited to celebrate these leaders in governance.
Weldon will receive 2020’s Lifetime Achievement in Governance award, which recognizes retired or sitting independent directors participating in one of more corporate or nonprofit boards for “integrity and leadership at the highest levels over an extended career.” The former J&J chair currently sits on the boards of CVS Health Corp., Exxon Mobil Corp., HeartFlow Inc., and the Mountain Mission School. He is the chairman of the board of trustees at Quinnipiac University and a member of the Horatio Alger Association, NACD NJ said.
Russo – the former chairman and CEO of Lucent Technologies and then CEO of Alcatel-Lucent – will receive the Leadership in Public Corporate Governance award, celebrating an independent director who is recognized by their peers for leadership, and currently contributes in a public company boardroom. Russo presently serves on the boards of General Motors, Merck and KKR; and is chairman emeritus for the board of national nonprofit, Partnership for Drug-Free Kids. Russo has been recognized as part of the Most Powerful Women by “Fortune,” and as one of “Time’s” 100 Most Influential People.
The Nonprofit Leadership Award recognizes directors who are leaders in the community, and currently contribute to a nonprofit boardroom. Conant serves as CEO and chairman of Chief Executives for Corporate Purpose, a Paul Newman-founded organization that “empowers corporations to be a force for good in society.” He is also board director of the National Organization on Disability and the Partnership for Public Service.
This year’s Private Company Board of the Year award, recognizing the demonstration of independence and leadership through a period of extraordinary growth, crisis or other major development, will go to NJM Insurance, with offices in West Trenton, Parsippany and Hammonton. The insurer currently boasts 2,500 employees.
Newark-based PSEG will receive the Public Company Board of the Year award, honoring public, corporate board directors that have significantly protected or enhanced value for stakeholders, while also guiding a company through a period of “extraordinary growth, crisis, or other major developments.”
Nominations for the event come from NACD NJ directors and are considered by a selection committee constituted of past Director of the Year honorees, in addition to what the organization called “other noted authorities on governance.”
“This second annual event will bring the New Jersey corporate and civic communities together, across all sectors, showcasing a commitment to businesses and nonprofits thriving in the state and in neighboring communities,” said Trish Oelrich, event chair and NACD NJ board director, in a prepared statement. “We’re proud to honor innovators who exemplify the leadership qualities of an excellent director and company board.”