As most of you know, Westwood is guided by the expert advice of a group of experienced senior business and professional leaders who advise the management team, establish long term goals and objectives and hold us accountable for ethical corporate conduct and achieving sustainable financial goals. This Board meets quarterly to review important aspects of the company’s current activities and challenges and are compensated for their counsel, direction and oversight. They are also a key resource of mine throughout the year on various challenges we encounter, are a great networking resource and directly guide the succession planning process for the company’s future.
As a reminder, our current Advisory Board is made up of the following individuals:
- Robert Benda, CEO, Westwood Contractors, Inc.
- Michael Bennett, CEO, Bennett + Benner Partners, Architects
- Chris Leathers, P.E., Freese & Nichols Consulting Engineers
- Heidi Leathers, Manager of Lawyer Recruiting, Hunton Andrews Kurth Law Firm
- William Latham, General Counsel, Risk Manager, Acme Brick Co., a Berkshire Hathaway Co.
- Nathan Robinett, Chairman (retired), Frost Bank Shares Dallas-Fort Worth Market
I wanted to share with you that this group of independent Directors have voluntarily and unanimously determined to forego their Director’s Fees for 2020 in response to the current financial challenges facing Westwood presented by the Coronavirus and the government’s response. As with the senior management team who have all taken significant reductions in their salaries, this group has shown their commitment to the long-term success of Westwood through this generous gesture and all deserve our heartfelt thanks! Additionally, they have specifically instructed us to reallocate those funds in some way which will directly benefit members of the Westwood team whose employment or income might be directly impacted in a negative way by these challenges. Please know as we continue to analyze the best path forward for the continued success of the company that we are committed to the preservation of jobs and the safety of our team, partners and clients as our foremost concerns. As always let me know if you have questions or comments.