Trustee spotlight: Dave Braden.

• Position: The Researchforum

David Braden had just finished his term as Twin Cities Chapter president in 2003 and was casting around for a different way to stay involved with FEI. Luckily, Braden quickly found a new niche as a trustee for (FERF), despite, in his own words, "needing some education" about the foundation. Quickly becoming intrigued by his new role, he saw it as "a chance to influence a key product of the organization and to work with an impressive group of people from around the country whom I otherwise would never have encountered."

In the past few years, Braden has witnessed some profound changes in FERF's overall mission and strategy. In 2005, the newly formed strategic planning committee, under the "capable leadership of George Boyadjis, helped guide the board to a vibrant new strategy, which continues to pay dividends," says Braden. The most significant of these changes was revising the FERF revenue model, which now provides FERF research free to all U.S. FEI members, while asking members and chapters for support through contributions.

"We also have become more deliberate about seeking financial support from research sponsors," Braden explains, As for the strength of FERF's financial condition, he says he's "very gratified."

He defines FERF's mission this way: "To bring value to FEI members by producing relevant research that helps their decision-making," and he believes it's been largely successful in meeting that goal.

As an FEI member and assistant treasurer at Cargill Inc., Braden brings the perspective and concerns of a private-company financial executive to bear on his role as a FERF trustee. "As the country's second largest privately held company, Cargill benefits from not having to manage quarterly earnings or submitting to the constant gauntlet of equity analysts," he reflects. "At the same time, we must compete in the financial markets with public companies and therefore 'act public' in terms of financial disclosure and substantial adherence to regulatory standards, such as SOX [Sarbanes-Oxley]."

Of course, he adds, private companies also face their own unique concerns regarding such business issues as management succession and preservation of capital; determining the appropriate level of financial disclosure to the company's various stakeholders; the anticipated competition for scarce human capital, including effective management of benefit obligations; and developing and maintaining appropriate risk controls at a manageable cost.

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