Three for the file
Financial dossiers on a few other UC regents point to conflict potential
Sherry Lansing
University of California regent
chairwoman of Health Services Committee
Professional bio:
Sherry Lansing was the first woman to lead a major film studio, when she became president of production of 20th Century Fox in 1980. From 1984 to 1990, she ran independent production companies, working on films such as Fatal Attraction and Indecent Proposal. In 1992, she was hired as chairwoman of Paramount Pictures; under her watch, the studio produced six of its 10 highest-grossing films, including Forest Gump and Titanic. In 1996, she became the first female studio exec to receive a star on the Hollywood Walk of Fame. She remained at Paramount until 2005. After leaving, she started The Sherry Lansing Foundation, a nonprofit that focuses on cancer research, education, art and culture.
Dates of term as regent:
First term: March 11, 1999 to March 1, 2010
Second term: March 1, 2010 to March 1, 2022
Duly noted:
Since September 2006, Lansing has been a member of Qualcomm’s board of directors. She received $135,000 in director’s fees from Qualcomm in 2008, as well as $256,443 in stock options, and an additional $50,000 for a total of $441,443. According to U.S. Securities and Exchange Commission filings, in 2009, Lansing received $133,500 in director’s fees from Qualcomm, as well as $301,752 worth of stock options and $50,000 in additional compensation for a total of $485,252.
Lansing’s economic disclosure statement states that she owns “more than $1 million” in Qualcomm stock options (no upper limit is specified), but she has a less than 1 percent interest in the company.
Documents released by the treasurer show that, through its external investment managers, UC has quadrupled its investment in Qualcomm, putting $397 million into stock of the information technology firm since Lansing joined its board.
Russell Gould
University of California regent
chairman of the board
Professional bio:
As president of Gould Financial Consulting, Russell Gould provides fiscal policy advice to corporations, government and not-for-profit entities on issues related to the state budget, investment and tax policy.
Gould also worked as a financial management adviser to CRHMFA Homebuyers Fund, which is a government-sponsored joint powers authority that issues tax-exempt and taxable bonds to create affordable single-family mortgage loan programs.
Before entering the private sector, Gould served under Gov. Pete Wilson as secretary of health and human services and as the director of finance. As director, he was responsible for preparing and managing the state budget as well as serving on the Governor’s Council of Economic Advisors. Gould previously worked as assistant state treasurer with oversight over California’s then-$20 billion investment portfolio.
Dates of term as regent:
First term: September 13, 2005 to March 1, 2017
Previously served as a regent in 1998
Duly noted:
Gould served as senior vice president at Wachovia Bank from 2004 until he retired in 2009. He led business development and strategic partnerships in California as senior managing director of Wachovia Portfolio Services, formerly Metropolitan West Securities, which he joined in 1996. At Metropolitan West, Gould also served as executive vice president of the J. Paul Getty Trust, where he was responsible for the investments of the trust’s $5.5 billion in assets.
In 2005, the year Gould became a regent, UC’s endowment and retirement portfolio held about $28 million in Wachovia bonds. That amount gradually reduced, falling to about $2.4 million in 2009.
Monica Lozano
University of California regent
chairwoman of Finance Committee
chairwoman of Governance Committee
Professional bio:
Monica Lozano has worked since 1985 at the La Opinión, which was started by her family in 1926. From 1999 to 2001, she was a member of the California State Board of Education, serving as its president from 2000 to 2001. She was also a member of the California Postsecondary Education Commission. Lozano has served on a number of corporate and nonprofit boards, and is a trustee at the University of Southern California.
Dates of term as regent:
First term: September 21, 2001 to March 1, 2013
Duly noted:
In 2008, while Lozano served on the board of Bank of America and Walt Disney, the UC General Endowment Pool owned about $5 million in Bank of America bonds and $530,000 in Walt Disney bonds, while the UC retirement plan held $99 million in Bank of America bond investments and $8.5 million in Walt Disney bonds.
Also, in 2008, Lozano served on the board of the California HealthCare Foundation, a philanthropic organization, which gave hundreds of thousands of dollars to the regents. The foundation also granted tens of millions of dollars to other university programs. It also supports private universities, private research and community programs.