Hawaiian Electric Industries

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Jeffrey N. Watanabe Independent Director
HEI Chairman of the Board
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Constance H. Lau President and CEO, HEI
Executive Committee Member
Chairman, Hawaiian Electric Company (HEI subsidiary)
Chairman, American Savings Bank (HEI subsidiary)
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Richard J. Dahl, Independent Director View Bio
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Admiral Thomas B. Fargo, USN (Retired) Independent Director View Bio
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Peggy Y. FowlerIndependent Director View Bio
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Keith P. Russell Independent Director View Bio
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James K. Scott, Ed.D. Independent DirectorView Bio
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Kelvin H. TaketaIndependent Director View Bio
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Barry K. TaniguchiIndependent Director View Bio
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Jeffrey N. Watanabe

Independent Director
HEI Chairman of the Board
HEI Executive Committee Chair
Compensation Committee Member

  • 76
  • 1987
  • 2006
  • Managing Partner, Watanabe Ing & Komeiji LLP (1972-2007)

EXPERTISE

  • LEGAL
  • GOVERNMENT AND REGULATION
  • INVESTING
  • CORPORATE GOVERNANCE
  • COMMUNITY RELATIONS
  • ENTREPRENEURSHIP

Mr. Watanabe has been one of the most influential figures in Hawaii’s business community over the past four decades. His strategic counsel is widely sought by Hawaii’s business, political and nonprofit leaders, as well as by global businesses seeking to do business in Hawaii.

Mr. Watanabe has a long personal history in environmental protection and public service. He was instrumental in assisting the National Park Service in dramatically expanding Volcanoes National Park through the acquisition of over 100,000 acres on the Big Island of Hawaii. He assisted with and oversaw the acquisition of the Palmyra Atoll, currently used as an international research center. Both were accomplished through the Nature Conservancy.

PROFESSIONAL EXPERIENCE
35 years at Watanabe Ing, LLP
PAST PUBLIC COMPANY BOARDS
Matson Inc. (2012-2018)
Alexander & Baldwin, Lead Independent Director (2012-2015), Director (2003-2015)
American Classic Voyages (1998-2003)
Cheap Tickets (2001)
OTHER POSITIONS
Director, Hawaiian Electric Company, Inc. (HEI subsidiary)
Director, American Savings Bank (HEI subsidiary)
Director, ASB Hawaii (HEI subsidiary) (2016)
Board member and Chair, Nature Conservancy of Hawaii (1988-2006)
Board of Governors, Nature Conservancy (1997-2003)
Chair, Child and Family Service (1984-1988); Consuelo Foundation (1991-2016); Blood Bank of Hawaii (1993-1994); Sesame Workshop (2000-2004); University of Hawaii Foundation (1996-1998)
Board member, Rehabilitation Hospital of the Pacific (1982-2000); Queen’s Health System and Medical Center (1989-2000); Punahou School (1998-2018); First Insurance of Hawaii Foundation; Child & Family Service-Philippines (1988-2016); Hawaiian Electric Industries Charitable Foundation
EDUCATION
Juris Doctor, George Washington University
Bachelor of Arts, University of California Berkeley

Constance H. Lau

President and CEO, HEI
Executive Committee Member
Chairman, Hawaiian Electric Company (HEI subsidiary)
Chairman, American Savings Bank (HEI subsidiary)

  • 67
  • 2001 (except from 2004-2006)
  • President and Chief Executive Officer, HEI (since 2006)

EXPERTISE

  • ENERGY, UTILITIES
  • INFRASTRUCTURE
  • CYBER SECURITY
  • FINANCE AND ACCOUNTING
  • BANKING
  • LEADERSHIP
  • CORPORATE TRANSFORMATION
  • STRATEGIC & OPERATIONAL MANAGEMENT

Ms. Lau has deep industry and operational expertise having served in leadership capacities spanning several functions across HEI and its subsidiaries. Ms. Lau’s expertise and leadership have been recognized nationally, leading her to be named Chair of the National Infrastructure Advisory Council, and to be named as a clean energy ambassador for the U.S. Department of Energy Clean Energy Ministerial C3E Initiative. Ms. Lau is also recognized as a transformational leader, having been identified by the US Banker List of Most Powerful Women in Banking in 2004, 2005, 2006 for transforming ASB into a full-service community bank.

Signing the groundbreaking Hawaii Clean Energy Initiative with the Governor of State of Hawaii also secured Ms. Lau the Women in Clean Energy & the Environment, Woman of the Year award, 2011.

PROFESSIONAL EXPERIENCE
Chair, National Infrastructure Advisory Council (since 2012)
President and Chief Executive Officer, American Savings Bank (2001-2006)
Chief Operating Officer, ASB (1999-2001)
Treasurer, HEI (1989-1999)
Treasurer, Hawaiian Electric and Assistant Treasurer, HEI (1987 - 1989)
Assistant Corporate Counsel, Hawaiian Electric Company (1984-1987)
PUBLIC COMPANY BOARDS
Matson Inc. (since 2012)
PAST PUBLIC COMPANY BOARDS
Alexander & Baldwin (2004-2012)
OTHER POSITIONS
Board Member, Edison Electric Institute
Former Board Member, Electric Power Research Institute
Board Member, Associated Electric & Gas Insurance Services
Board Member, Hawaii Business Roundtable
Board Member, Foundation for Asia-Pacific Center for Security Studies
Member of Federal Electricity Subsector Coordinating Council
Member of the Federal Reserve Bank of San Francisco’s Twelfth District Community Depository Advising Council (2011-2014)
Chairman, Consuelo Foundation
Director, ASB Hawaii (HEI subsidiary)
Trustee, Punahou School
EDUCATION
Master of Business Administration, Stanford Graduate School of Business Juris Doctor, Hastings College of the Law, University of California
Bachelor of Science in Administrative Sciences, Yale College

Richard J. Dahl

Independent Director
Audit Committee Member

  • 67
  • 2017
  • Former President and Chief Executive Officer, James Campbell Company LLC (2010-2016)

EXPERTISE

  • STRATEGIC & OPERATIONAL MANAGEMENT
  • CORPORATE TRANSFORMATION
  • FINANCE AND ACCOUNTING
  • CORPORATE GOVERNANCE
  • BANKING
  • ENERGY, UTILITIES
  • LEADERSHIP
  • RISK MANAGEMENT
  • AUDIT

Mr. Dahl has significant leadership, strategy, audit and risk-management expertise. He has in-depth experience in corporate transformation and restructuring, and in driving improved corporate governance and shareholder engagement. His experiences working in Hawaii and on the U.S. mainland, and in banking and the electric utility industry, bring valuable perspective to the Board.

Under Mr. Dahl’s leadership, Dole Food Company invested in a number of sustainability initiatives that secured external recognition. Dole was named one of the World’s Most Ethical Companies by Ethisphere Magazine, and undertook a carbon offset program to secure a carbon neutral operating footprint.

PROFESSIONAL EXPERIENCE
Interim Chief Executive Officer, Dine Brands Global, Inc. (formerly known as DineEquity) (3/1/17 – 9/15/17) (franchisor of over 3000 Applebee’s and IHOP restaurants)
President and Chief Operating Officer (2004-2007) and Chief Operating Officer (2002-2004), Dole Food Company
President and Chief Operating Officer, Bank of Hawaii Corporation (1981-2002)
Ernst & Young (1973-1981)
PUBLIC COMPANY BOARDS
Dine Brands Global, Inc. (formerly known as DineEquity) (since 2004); Non-Executive Chairman (since 2017)
IDACORP (since 2008) (currently decommissioning/divesting ownership of its coal plants)
PAST PUBLIC COMPANY BOARDS
Non-Executive Chairman, International Rectifier Corporation (2008-2015) (leading manufacturer and distributor of power management semi-conductors and researcher in battery storage)
OTHER POSITIONS
Non-Executive Chairman, James Campbell Company, LLC (privately held real estate investment and development company), Executive Chair, President and CEO (2010-2016)
Director, Hawaiian Electric Company, Inc. (HEI subsidiary)
EDUCATION
Bachelor of Science, University of Idaho

Admiral Thomas B. Fargo, USN (Retired)

Independent Director
Compensation Committee Chair
Nominating and Corporate Governance Committee Member

  • 70
  • 2005
  • Chairman, Huntington Ingalls Industries (military shipbuilder) (NYSE: HII)

EXPERTISE

  • CRITICAL CUSTOMERS
  • RISK MANAGEMENT
  • CORPORATE GOVERNANCE
  • LEADERSHIP
  • STRATEGIC PLANNING
  • FINANCE AND ACCOUNTING

In addition to extensive leadership expertise, Admiral Fargo brings to the Board deep knowledge of the U.S. military, a major customer of HEI’s electric utility subsidiary and a key driver of Hawaii’s economy. He has extensive leadership, strategic planning and financial and non-financial risk assessment skills developed over 40 years of leading nine organizations ranging in size from 130 to 300,000 people and managing budgets up to $8 billion.

PROFESSIONAL EXPERIENCE
Owner, Fargo Associates LLC (since 2005) (defense and homeland/national security consultancy)
Commander of the U.S. Pacific Command (retired)
PUBLIC COMPANY BOARDS
The Greenbrier Companies (since 2015) (rail manufacturing & licensing services)
Huntington Ingalls Industries (since 2011) (military shipbuilder)
Matson Inc. (since 2012) (transportation & logistics)
PAST PUBLIC COMPANY BOARDS
Northrop Grumman Corporation (2008-2011)
Hawaiian Holdings, Inc. (2005-2008) (Hawaiian Airlines holding company)
Alexander & Baldwin (2010-2011)
OTHER POSITIONS
Vice Chairman, United Services Automotive Association
Adivsory Board Member, National Bureau of Asian Research
Director, AtHoc (until 2016)
Director, GTA Teleguam (until 2017)
Senior Advisor, SKAI Ventures
Director, Hawaiian Electric Company, Inc. (HEI subsidiary) (2005-2016)
EDUCATION
Bachelor of Science, United States Naval Academy
Executive and business training - Harvard University; Stanford University

Peggy Y. Fowler

Independent Director
Nominating and Corporate Governance Committee Chair
Compensation Committee Member

  • 67
  • 2011
  • Former Chief Executive Officer (2000-2008), Portland General Electric Company (PGE)

EXPERTISE

  • LEADERSHIP
  • ENERGY, UTILITIES
  • RENEWABLES
  • ENVIRONMENTAL MANAGEMENT
  • CORPORATE GOVERNANCE
  • FINANCIAL OVERSIGHT
  • REGULATORY COMPLIANCE

Ms. Fowler’s position as Chief Executive Officer of a NYSE-listed public utility company imparts significant industry, operations, leadership and management expertise to the Board.

Ms. Fowler has deep environmental and renewable energy expertise. During Ms. Fowler’s tenure as CEO, PGE made the strategic decision to reduce use of oil and coal, and has been ranked #1 on multiple occasions for selling more renewable power to residential customers than any other U.S. utility. Under Ms. Fowler’s leadership, wind and solar projects were constructed and integrated into the PGE grid.

PROFESSIONAL EXPERIENCE
35 years of executive leadership, senior officer and operating positions, PGE
PUBLIC COMPANY BOARDS
Umpqua Holdings Corp. (since 2009, Chairman 2012-present) (bank holding company)
PAST PUBLIC COMPANY BOARDS
Portland General Electric (2006-2012)
OTHER POSITIONS
Director and committee member, Cambia Health Solutions (not-for-profit health insurer) (since 2005)
Director, PGE Foundation (since 1997)
Director, Portland Branch of Federal Reserve Bank of San Francisco (2007-2011)
EDUCATION
Public Utility Executive Program, University of Idaho and University of Michigan
Bachelor of Science, Chemistry and Bachelor of Science, Math, George Fox University

Keith P. Russell

Independent Director
Audit Committee Member

  • 73
  • 2011
  • President, Russell Financial (since 2001)

EXPERTISE

  • RISK MANAGEMENT
  • FINANCE AND ACCOUNTING
  • BANKING
  • LEADERSHIP
  • STRATEGIC PLANNING
  • CORPORATE GOVERNANCE

Within three major financial institutions, Mr. Russell served as an executive and/or Director and held domestic and international positions in all areas of banking, finance, capital markets and risk management. He has served on numerous panels on corporate governance and strategic direction.

Mr. Russell’s years of executive leadership experience in financial service operations, particularly as an executive officer of a major lender to the electric utility industry, contribute invaluable expertise to the Board. His prior service as Chief Risk Officer of a large financial institution strengthens the Board’s risk management capabilities.

PROFESSIONAL EXPERIENCE
Vice Chair/Chief Risk Officer, Mellon Financial Corp (1991-2001)
President and Chief Operating Officer, Glendale Federal Bank (1983-1991)
Senior Vice President, Security Pacific Corporation (1974-1983)
PUBLIC COMPANY BOARDS
Sunstone Hotel Investors (since 2003)
PAST PUBLIC COMPANY BOARDS
Nationwide Health Properties (2002-2011)
OTHER POSITIONS
Director, KBS Growth and Income REIT
Director, American Savings Bank (HEI subsidiary)
Director, ASB Hawaii (HEI subsidiary) (2014-2016)
EDUCATION
Master of Arts, Northwestern University
Bachelor of Arts, University of Washington

James K. Scott, Ed.D.

Independent Director
Nominating and Corporate Governance Committee Member

  • 67
  • 1995
  • President, Punahou School (since 1994)

EXPERTISE

  • LEADERSHIP
  • COMMUNITY RELATIONS
  • GOVERNMENT AND REGULATION
  • EXECUTIVE MANAGEMENT

Dr. Scott is a well-respected leader in the state of Hawaii. His extensive knowledge, contacts and relationships within Hawaii’s business community, nonprofit community and local governmental agencies contribute significantly to the Board’s understanding of Hawaii’s unique cultural and business environment.

Dr. Scott has overseen various transformational environmental and social programs at Punahou School. These include implementing a need-blind student admission policy and securing a $300m endowment to support a need-based financial aid program; making a commitment to become a Net Zero Energy campus by 2025; developing an environmental sustainability curriculum and becoming a laptop technology campus; and securing Apple Distinguished School status.

Under Dr. Scott’s leadership, Punahou School has been named the Greenest School in America by the Green Guide.

OTHER POSITIONS
Director, Hawaii Association of Independent Schools
Trustee, Barstow Foundation
Member, Advisory Board of the Klingenstein Center of Teachers College, Columbia University
Trustee, National Association of Independent Schools
Director, American Savings Bank (HEI subsidiary)
EDUCATION
Master’s Degree and Doctorate in Education, Harvard University
Master of Arts, University of San Francisco
Bachelor of Arts, Stanford University

Kelvin H. Taketa

Independent Director
Nominating and Corporate Governance Committee Member

  • 64
  • 1993
  • President and Chief Executive Officer, Hawaii Community Foundation (retired)

EXPERTISE

  • COMMUNITY RELATIONS
  • ENVIRONMENTAL CONSERVATION
  • EXECUTIVE MANAGEMENT
  • RISK ASSESSMENT
  • STRATEGIC PLANNING
  • ORGANIZATIONAL LEADERSHIP

Mr. Taketa is a highly respected leader who brings deep understanding of Hawaii’s distinctive cultural and business environment to the Board. He also brings extensive knowledge of environmental issues having served as executive director of the Asia/Pacific Region of The Nature Conservancy. Mr. Taketa has dedicated his career to environmental conservation and sustainable community development. He has been nationally recognized by the Nonprofit Times on three occasions (2010, 2015, 2016) as one of the most powerful and influential people in the Nonprofit and Philanthropic Sector in the US, and with the US Department of Interior Conservation Service Award and the Chevron Corporation Conservation Award.

PROFESSIONAL EXPERIENCE
President (1998-2015) and Chief Executive Officer (1998-2017), Senior Fellow (2017-2018) Hawaii Community Foundation
Founder and Executive Director, Asia Pacific Region, The Nature Conservancy (1989-1998)
Founder and Managing Partner, Sunrise Capital (private equity company focused on the sustainable aquaculture industry in Hawaii) (2005-2009)
OTHER POSITIONS
Board member, Feeding America
Board member, Stupski Foundation
Board member, Hawaii Leadership Forum
Director, Hawaiian Electric Company, Inc. (HEI subsidiary)
Director, Elemental Excelerator
Director, Center for Effective Philanthropy
EDUCATION
Juris Doctor, University of California Hastings College of Law
Bachelor of Arts, Colorado College

Barry K. Taniguchi

Independent Director
Audit Committee Chair
Executive Committee Member

  • 71
  • 2004
  • Chairman (since 2014) and Chief Executive Officer (since 1989), former President (1989-2014), KTA Super Stores (largest grocery store chain on island of Hawaii)

EXPERTISE

  • FINANCE AND ACCOUNTING
  • GOVERNMENT AND REGULATION
  • COMMUNITY RELATIONS
  • LEADERSHIP
  • AUDIT

Mr. Taniguchi brings to the Board considerable experience as a proven business leader in Hawaii, with extensive knowledge of the business climate and significant contacts and relationships within the business community and local governmental agencies. His extensive business and community service have earned him numerous awards for leadership.

Under Mr. Taniguchi’s leadership, KTA Super Stores are investing in environmental and social innovations including electric vehicle infrastructure investments, PV system installation, sourcing from locally owned and produced businesses and supporting their marketing and expanded distribution, and philanthropic programs with direct community impact.

PROFESSIONAL EXPERIENCE
President and Director, K. Taniguchi Ltd. (since 1989) (real estate lessor)
OTHER POSITIONS
Trustee, Public Schools of Hawaii Foundation
Director, Hawaii Food Industry Association
Director, ASB Hawaii (HEI subsidiary) (2015-2016)
Director, American Savings Bank (HEI subsidiary)
EDUCATION
Bachelor in Business Administration, University of Hawaii