Board of Directors

Hawaiian Electric Industries

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Jeffrey N. Watanabe
Chairman,
Hawaiian Electric Industries, Inc.
Retired Founder,
Watanabe Ing LLP
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Constance H. Lau
President and
Chief Executive Officer,
Hawaiian Electric Industries, Inc.

Chairman,
Hawaiian Electric Company, Inc.
Chairman,
American Savings Bank, F.S.B.
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Richard J. Dahl,
Chairman,
James Campbell Company, LLC
Retired President and Chief Executive Officer,
James Campbell Company, LLC
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Admiral Thomas B. Fargo, USN (Retired)
Chairman,
Huntington Ingalls Industries, Inc.
Former Commander of the
U.S. Pacific Command
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Peggy Y. Fowler
Chairman,
Umpqua Holdings Corporation
Retired President and
Chief Executive Officer,
Portland General Electric Company
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Keith P. Russell
President,
Russell Financial, Inc.
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James K. Scott, Ed.D.
President,
Punahou School
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Kelvin H. Taketa
Chief Executive Officer,
Hawaii Community Foundation
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Barry K. Taniguchi
Chairman and Chief Executive Officer,
KTA Super Stores
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Hawaiian Electric Company

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Micah A. Kāne
President and Chief Operating Officer,
Hawaii Community Foundation
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Bert A. Kobayashi, Jr.
Managing Partner,
BlackSand Capital, LLC
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Alan M. Oshima
President and
Chief Executive Officer,
Hawaiian Electric Company, Inc.
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Timothy E. Johns
Chief Consumer Officer,
Hawaii Medical Service Association
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The following HEI directors are also directors of Hawaiian Electric Company, Inc.

American Savings Bank

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James A. Ajello
Retired Executive Vice President
and Chief Financial Officer,
Hawaiian Electric Industries, Inc.
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Shirley J. Daniel, Ph.D., C.P.A.
Professor of Accountancy,
Shidler College of Business,
University of Hawaii at Manoa
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Bert A. Kobayashi, Sr.
Chairman and
Chief Executive Officer,
Kobayashi Development Group LLC
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Richard F. Wacker
President and
Chief Executive Officer,
American Savings Bank, F.S.B.
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The following HEI directors are also directors of American Savings Bank, F.S.B.

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Jeffrey N. Watanabe


HEI, Hawaiian Electric and ASB Director
HEI Chairman of the Board
HEI Executive Committee Chair
HEI Compensation Committee Member
ASB Executive Committee Member
ASB Risk Committee Member

Business experience and other public company and HEI affiliate directorships

  • Managing Partner, Watanabe Ing & Komeiji LLP, 1972-2007 (retired)
  • Director, Nominating and Corporate Governance Committee Chair and Compensation Committee Member, Matson, Inc., since 2012
  • Director since 1988 and Executive and Risk Committee Member, ASB (HEI subsidiary)
  • Lead Independent Director, 2012-15, and director 2003-15, Alexander & Baldwin, Inc. (A&B)
  • Director, Hawaiian Electric (HEI subsidiary), 1999-2006, 2008-2011 and since 2016

Skills and qualifications for HEI Board service

  • Broad business, legal, corporate governance and leadership experience from serving as Managing Partner of the law firm he helped found, advising clients on a variety of business and legal matters for 35 years and from serving on more than a dozen public and private company and nonprofit boards and committees, including his current service on the Matson Nominating and Corporate Governance and Compensation Committees and past service on the A&B Nominating & Corporate Governance Committee.
  • Specific experience with strategic planning from providing strategic counsel to local business clients and prospective investors from the continental United States and the Asia Pacific region for 25 years of his law practice.
  • Recognized by a number of organizations for his accomplishments, including by the Financial Times-Outstanding Directors Exchange, which selected him as a 2013 Outstanding Director.
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Constance H. Lau


President and Chief Executive Officer,
Hawaiian Electric Industries, Inc.
Chairman, Hawaiian Electric Company, Inc.
Chairman, American Savings Bank, F.S.B.

Ms. Lau was named president and chief executive officer of Hawaiian Electric Industries (HEI) in May 2006. She also serves as chairman of Hawaiian Electric Company and chairman of American Savings Bank. Born and raised in Honolulu, Ms. Lau joined the HEI companies in 1984, serving first as assistant corporate counsel and treasurer of Hawaiian Electric Company, then as treasurer of HEI. In 1999, she became a director and senior executive vice president and chief operating officer of American Savings Bank, rising to president and chief executive officer in June 2001. She also served as an HEI director from 2001 through 2004, and has been serving as an HEI director since May 2006.

Ms. Lau is a director and Audit Committee chair and Nominating and Corporate Governance Committee Member of Matson, Inc. (NYSE: MATX), the major shipping carrier to Hawaii. Ms. Lau is a nationally recognized leader in the fields of critical infrastructure, resilience and physical and cyber security, banking and energy. Since 2012, Ms. Lau has chaired the National Infrastructure Advisory Council (NIAC), which advised President Barack Obama through the Department of Homeland Security on the security of the 16 critical infrastructure sectors and their information systems, including both the energy and financial services sectors. In energy, Ms. Lau was named 2011 Woman of the Year by the Women's Council on Energy and the Environment in Washington, D.C., and serves on the boards of the Electric Power Research Institute, the Edison Electric Institute, and the Associated Electrical & Gas Insurance Services. In banking, Ms. Lau is a member of the Federal Reserve Bank of San Francisco's Twelfth District Community Depository Institutions Advisory Council, and was one of U.S. Banker's 25 Most Powerful Women in Banking for 2004, 2005, and 2006 when she headed American Savings Bank.

In Hawaii, Ms. Lau was named Pacific Business News (PBN)'s 2004 Hawaii Business Leader of the Year, and in 2013, she was named one of PBN's 10 to Watch for her leadership in clean energy and transportation. Ms. Lau also serves on the boards of the Hawaii Business Roundtable, the Asia-Pacific Center for Security Studies, Punahou School, and the Consuelo Foundation, which helps women, children and families in Hawaii and the Philippines. She served as a trustee for Kamehameha Schools Bishop Estate from 1999 to 2007.

Ms. Lau graduated from Yale College with a B.S. in administrative sciences. She earned a juris doctor from the University of California Hastings College of the Law and a master's in business administration from Stanford Graduate School of Business. She is married to Russell Lau, vice chairman of Finance Enterprises, Ltd., and has three children.

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Richard J. Dahl


HEI and Hawaiian Electric Director
HEI Audit Committee Member
Hawaiian Electric Audit Committee Member

Business experience and other public company and HEI affiliate directorships

  • Chairman and Interim CEO, DineEquity, Inc. Since 2017
  • Chairman, James Campbell Company LLC (privately held real estate investment and development company), since 2010
  • Chairman, President and CEO, James Campbell Company LLC, 2010-16
  • Director and Audit Committee Member, Hawaiian Electric (HEI subsidiary), since 2017
  • Director since 2008, Audit Committee Chair and Executive Committee Member, IDACORP, Inc./Idaho Power Company
  • Lead Independent Director 2010-2017, former Audit Committee Chair and Director since 2004, DineEquity, Inc.
  • Chairman, International Rectifier Corporation, 2008-15

Skills and qualifications for HEI Board service

  • Broad leadership and strategic and operational management experience from serving as a senior executive for private and publicly traded companies, including as Chairman, President and CEO of James Campbell Company LLC, President, Chief Operating Officer and Director of Dole Food Company, Inc., and President, Chief Operating Officer and Director of Bank of Hawaii Corporation.
  • In-depth understanding of the two industries in which HEI operates from his senior executive roles at Bank of Hawaii Corporation and his current service as a director of IDACORP, Inc. and its principal subsidiary, Idaho Power Company.
  • Audit, risk management and financial expertise from his chairmanship of the IDACORP, Inc., audit committe, prior chairmanship of the DineEquity,Inc. audit committee, previous work experience with accounting firm Ernst & Young, and prior licensure as a Certified Public Accountant and Certified Bank Auditor.
  • Substantial governance and board leadership experience from his public company board service, including through his prior role as Lead Independent Director of DineEquity, Inc. and through leading the International Rectifier, Inc. board through a successful corporate turnaround.
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Admiral Thomas B. Fargo
USN (Retired)

HEI Director
HEI Compensation Committee Chair
HEI Nominating and
Corporate Governance Committee Member

Business experience and other public company and HEI affiliate directorships

  • Chairman of the Board and Compensation and Governance Committee Member, Huntington Ingalls Industries (military shipbuilder), since 2011
  • Owner, Fargo Associates, LLC (defense and homeland/national security consultancy), since 2005
  • Director and Compensation and Nominating and Corporate Governance Committee member, The Greenbrier Companies, since 2015
  • Director and Audit Committee Member, Matson, Inc., since 2012
  • Director, Alexander & Baldwin, Inc., 2011-12
  • Director, Northrop Grumman Corporation, 2008-11
  • Director, Hawaiian Electric (HEI subsidiary), 2005-16

Skills and qualifications for HEI Board service

  • Extensive knowledge of the U.S. military, a major customer of HEI's electric utility subsidiary and key driver of Hawaii's economy.
  • Leadership, strategic planning and financial and nonfinancial risk assessment skills developed over 39 years of leading 9 organizations ranging in size from 130 to 300,000 people and managing budgets up to $8 billion.
  • Experience with corporate governance, including audit, compensation and governance committees, from service on several public and private company boards, including as chairman of Huntington Ingalls Industries.
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Peggy Y. Fowler


HEI Director
HEI Compensation Committee Member

Business experience and other public company and HEI affiliate directorships

  • Co-CEO, Portland General Electric Company (PGE), 2009
  • President and CEO, PGE, 2000-08
  • Lead Independent Director since 2017, Chairman of the Board 2012-16, Chair of the Risk and Governance and Executive Committees and director since 2009, Umpqua Holdings Corp. (publicly traded bank holding company)
  • Director and Audit Committee Member, Hawaiian Electric (HEI subsidiary), 2009-16
  • Director, PGE, 1998-2012

Skills and qualifications for HEI Board service

  • 35 years of executive leadership, financial oversight and utility operations experience from serving at PGE in senior officer positions, including Chief Operating Officer, President and CEO.
  • Environmental and renewable energy expertise from managing PGE's environmental department, overseeing initiatives that improved fish passage on multiple Oregon rivers, supervising the construction and integration into PGE's grid of wind and solar projects, and leading PGE to be ranked #1 by the National Renewable Energy Laboratory for selling more renewable power to residential customers than any other utility in the U.S. for several years during her tenure as PGE's CEO.
  • Proven management, leadership and analytical skills, including crisis management, risk assessment, strategic planning and public relations skills.
  • Expertise in financial oversight, regulatory compliance and corporate governance gained from serving as President (1997-2000), CEO (2000-08) and Chair (2001-04) of PGE, as a past director for the Portland Branch of the Federal Reserve Bank of San Francisco, and as a director and committee member for several private and public companies, including Umpqua Holdings Corporation, where she previously served as Chairman and currently serves as Lead Independent Director, and Cambia Health Solutions, a not-for-profit BlueCross Blueshield health Insurer, where she chairs the investment committee and serves on the audit and executive committees.
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Keith P. Russell


HEI and ASB Director
HEI Audit Committee Member
ASB Audit Committee Member
ASB Risk Committee Chair

Business experience and other public company and HEI affiliate directorships

  • President, Russell Financial, Inc. (strategic and financial consulting firm), since 2001
  • Vice Chair/Chief Risk Officer, Mellon Financial Corp., then Chairman, Mellon West, 1991-2001
  • Senior Executive Vice President, then Director, President and Chief Operating Officer, GLENFED/Glendale Federal Bank, 1983-91
  • Director, ASB Hawaii (HEI subsidiary), 2014-16
  • Director and Audit Committee Member since 2010 and Risk Committee Chair since 2012, ASB (HEI subsidiary)
  • Director since 2004, Audit Committee chair since 2011 and Nominating Committee Member 2003-11 and since 2015, Sunstone Hotel Investors
  • Director, Nationwide Health Properties, 2002-11
  • Director, Audit Committee Chair and Conflicts Committee Member, KBS Growth and Income REIT, since 2016

Skills and qualifications for HEI Board service

  • Ten years of executive leadership, financial oversight, risk management and strategic planning experience from serving as Vice Chairman/Chief Risk Officer for Mellon Financial Corporation and Chairman of Mellon's West Coast operations. Mellon was a major lender and capital provider to the electric utility industry.
  • Eight years of executive and corporate governance experience from serving as Director, President and Chief Operating Officer of GLENFED/Glendale Federal Bank.
  • Nine years of banking industry experience serving as Senior Vice President and Deputy Administrator for Security Pacific National Bank, with direct responsibility for a wide breadth of operations, including leasing, consumer and commercial finance, mortgage banking, venture capital, cash management and trust business.
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James K. Scott

HEI and ASB Director
HEI Nominating and
Corporate Governance Committee Member

Business experience and other public company and HEI affiliate directorships

  • President, Punahou School (K-12 independent school), since 1994
  • Director, ASB (HEI subsidiary), since 2008
  • HEI Audit Committee member, 1997-2011

Skills and qualifications for HEI Board service

  • Recognized leadership and executive management skills as President of Punahou School.
  • More than three decades of experience developing and executing strategic plans as the chief executive at two independent schools, including overseeing fundraising programs and admissions/marketing and finance functions.
  • Keen understanding of Hawaii's communities and governance and board leadership experience from his current positions as director and former Chair of the Hawaii Association of Independent Schools, trustee of the Barstow Foundation, member of the Advisory Board of the Klingenstein Center of Teachers College at Columbia University and trustee of the National Association of Independent Schools.
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Kelvin H. Taketa

HEI and Hawaiian Electric Director
HEI Nominating and
Corporate Governance Committee Chair

Business experience and other public company and HEI affiliate directorships

  • CEO, Hawaii Community Foundation (statewide charitable foundation), since 2016
  • President and CEO, Hawaii Community Foundation, 1998-2015
  • Director, Hawaiian Electric (HEI subsidiary), since 2004

Skills and qualifications for HEI Board service

  • Executive management experience with responsibility for overseeing more than $500 million in charitable assets through his leadership of the Hawaii Community Foundation.
  • Proficiency in risk assessment, strategic planning and organizational leadership as well as marketing and public relations from his current position at the Hawaii Community Foundation and his prior experience as Vice President and Executive Director of the Asia/Pacific Region for The Nature Conservancy and as Founder, Managing Partner and Director of Sunrise Capital Inc.
  • Knowledge of corporate and nonprofit governance issues gained from his prior service as a director for Grove Farm Company, Inc. and the Independent Sector, his current service on the boards of Feeding America, the Stupski Foundation and the Hawaii Leadership Forum, and through publishing articles and lecturing on governance of tax exempt organizations.
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Barry K. Taniguchi


HEI and ASB Director
HEI Audit Committee Chair
HEI Executive Committee Member
ASB Audit Committee Chair
ASB Executive Committee Member

Business experience and other public company and HEI affiliate directorships

  • Chairman and CEO since 2014 and President and CEO 1989-2014, KTA Super Stores (grocery store chain)
  • President and Director, K. Taniguchi Ltd. (real estate lessor), since 1989
  • Director, ASB Hawaii (HEI subsidiary), 2015-16
  • Director since 2002 and Audit Committee Chair, ASB (HEI subsidiary)
  • Director, 2001-11 and Audit Committee Chair, Hawaiian Electric (HEI subsidiary)
  • Director, Maui Electric Company, Limited (Hawaiian Electric subsidiary), 2006-09
  • Director, Hawaii Electric Light Company, Inc. (Hawaiian Electric subsidiary), 1997-2009

Skills and qualifications for HEI Board service

  • Current knowledge of and experience with the business community on the island of Hawaii, which is served by one of HEI's utility subsidiaries, Hawaii Electric Light Company, Inc., from his chief executive roles for the last 27 years.
  • Accounting and auditing knowledge and experience gained from obtaining a public accounting certification and from his prior work as an auditor and as a controller.
  • Extensive corporate and nonprofit board and leadership experience, including service as a director and former chair of the Hawaii Island Economic Development Board and from having served as a director of Hawaii Community Foundation, and as a former director and Chair of both the Hawaii Island Chamber of Commerce and the Chamber of Commerce of Hawaii.
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Don E. Carroll

Hawaiian Electric Director
Hawaiian Electric Audit Committee Member
Hawaiian Electric Non-voting Representative to
HEI Compensation Committee

Business experience and other public company and HEI affiliate directorships

  • Retired Chairman, Oceanic Time Warner Cable Advisory Board, since 2004
  • Director, HEI (parent company of Hawaiian Electric), 1996-2011
  • Director, ASB (Hawaiian Electric affiliate), 2004-2011

Skills and qualifications for board service

  • 38 years of executive and finance management experience, including service as President and Vice President, Finance of Oceanic Cable.
  • Experience with oversight of executive compensation, compensation programs and finance matters from current or past service as Chair of the Compensation Committee for Island Insurance Company, Ltd., as a member of the Compensation Committees of HEI and Pacific Guardian Life, and as a member of the ASB Audit Committee.
  • In-depth knowledge of issues facing Hawaiian Electric gained from 15 years as a director for Hawaiian Electric's parent company, HEI.
  • Strong understanding of concerns of the communities Hawaiian Electric serves from his lengthy career with Oceanic Cable, which serves the same communities.
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Micah A. Kane


Hawaiian Electric Director

Business experience

  • President and Chief Operating Officer, Hawaii Community Foundation, since 2016
  • Chief Operating Officer, Pacific Links Hawaii LLC (golf course owner, developer and operator), 2011-2015
  • Principal, The KANE Group LLC (Hawaii-based company focused on land and financing matters for planned community infrastructure and general business development), since 2010
  • Trustee, Kamehameha Schools ($10 billion Native Hawaiian trust with more than 397,000 acres of land holdings in Hawaii), since 2009

Skills and qualifications for board service

  • Executive management, leadership and strategic planning skills from prior service as Chief Operating Officer of Pacific Links Hawaii and Trustee of Kamehameha Schools and from prior role as Chairman/Director of the Department of Hawaiian Home Lands.
  • Finance and investment expertise gained through oversight of $10 billion asset portfolio as Trustee of Kamehameha Schools and through spearheading bond transactions as Chairman/Director of Department of Hawaiian Home Lands.
  • Experience managing complex capital expenditure programs from overseeing development of master planned communities and from managing annual $150 million capital improvement budget for the Department of Hawaiian Home Lands.
  • Skilled in government affairs, policy development, public relations and crisis management from prior service as Chairman/Executive Director of the Hawaii Republican Party.
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Alan M. Oshima

President and Chief Executive Officer,
Hawaiian Electric Company, Inc.

Director,
Hawaiian Electric Company, Inc.

Alan M. Oshima is president and chief executive officer of the Hawaiian Electric Company, Inc.

Under Alan’s leadership, Hawaiian Electric has accelerated its company-wide transformation initiative, reorganizing its processes to become more nimble, innovative and customer focused and building an employee culture that readily adapts to change. Hawaiian Electric has been nationally recognized for its progress in replacing fossil fuel generation with renewable resources.

Alan first joined Hawaiian Electric in 2008 as a member of the board of directors. In 2011, he left the board to serve at HEI, Hawaiian Electric’s parent company, as executive vice president for corporate and community advancement and president of the HEI Charitable Foundation. He was named to his current position in 2014.

Alan was senior vice president, general counsel and corporate secretary of Hawaiian Telcom from 2005 to 2008 and later was a senior adviser and director helping the company successfully emerge from reorganization in 2010. Alan founded the law firm Oshima Chun Fong & Chung in Honolulu and, prior to that, practiced law with the Honolulu firm of Carlsmith Ball. With his significant experience with electric, telecommunications and transportation companies, as well as water and sewer resources in Hawai‘i, Alan was regularly recognized as one of “America’s Best Lawyers” in the field of public utilities.

Alan has been recognized by numerous professional and community organizations for his leadership and volunteerism, especially his work to improve public education.

Alan received a degree in business administration from Northwestern University and a law degree from the University of California, Hastings College of the Law. He also served as a Supply Corps officer with the U.S. Navy and, among other places, was stationed at Pearl Harbor and San Diego.

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Timothy E. Johns


Hawaiian Electric Director
Hawaiian Electric Audit Committee Chair

Business experience

  • Chief Consumer Officer, Hawaii Medical Service Association (HMSA) since 2011
  • President and CEO, Bishop Museum, 2007-2011

Skills and qualifications for board service

  • Executive management, leadership and strategic planning skills developed over three decades as a businessperson and lawyer and currently as Chief Consumer Officer of HMSA.
  • Business, regulatory, financial stewardship and legal experience from his prior roles as President and CEO of the Bishop Museum, Chief Operating Officer for the Estate of Samuel Mills Damon (former private trust with assets valued at over $900 million prior to its dissolution), Chairperson of the Hawaii State Board of Land and Natural Resources, Director of the Hawaii State Department of Land and Natural Resources and Vice President and General Counsel at Amfac Property Development Corp.
  • Corporate governance knowledge and familiarity with financial oversight and fiduciary responsibilities from overseeing the HMSA Internal Audit department, from his prior service as a director for The Gas Company LLC (now Hawaii Gas) and his current service as a trustee of the Parker Ranch Foundation Trust (charitable trust with assets valued at over $350 million), as a director and Audit Committee Chair for Parker Ranch, Inc. (largest ranch in Hawaii, with significant real estate assets), as a director and Audit Committee member for Grove Farm Company, Inc. (privately-held community and real estate development firm operating on the island of Kauai) and on the board of Kualoa Ranch, Inc. (private ranch in Hawaii offering tours and activity packages to the public).
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Bert A. Kobayashi, Jr.


Hawaiian Electric Director

Business experience

  • Managing Partner, BlackSand Capital, LLC (real estate investment firm), since 2010
  • President and CEO, Kobayashi Group, LLC, 2001-2010, and Partner, since 2001

Skills and qualifications for board service

  • From his leadership of BlackSand Capital, LLC and Kobayashi Group, LLC, Hawaii-based real estate investment and development firms he co-founded, he has extensive experience in private equity investment, real estate acquisitions, project origination, procurement of construction and permanent debt facilities and subordinate/mezzanine financing, in addition to planning, financing and leading large real estate development projects and experience with executive management, marketing and government relations.
  • Organizational governance and financial oversight experience from his current service as a trustee for mutual funds (Hawaiian Tax Free Trusts, from the Aquila Group of Funds) and as a current or past director of several non-profit organizations, including the Shane Victorino Foundation, Inspire the Keiki Foundation, East-West Center Foundation and GIFT Foundation of Hawaii, which he co-founded.
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Shirley J. Daniel, Ph.D., C.P.A.


ASB Director
ASB Audit Committee Member

Business experience and other public company and HEI affiliate directorships

  • Professor of Accountancy, Shidler College of Business, University of Hawaii at Manoa, since 1995
  • Director and Audit Committee member, HEI, 2002-2011
  • Director and Audit Committee member, HECO, 2002-2004

Skills and qualifications for board service

  • Current expertise in accounting, auditing and corporate governance from research and teaching courses on these subjects at the Shidler College of Business.
  • Business and leadership experience from her service as Director for the Pacific Asian Management Institute and Center for International Business Education and Research and from her prior service as Interim Chancellor of Hawaii Community College and Managing Director for the Pacific Asian Center for Entrepreneurship and E-Business.
  • Prior experience in accounting and auditing from being a licensed certified public accountant and from working as an auditor and audit manager with the international accounting firm Arthur Young & Company (currently Ernst & Young LLP).
  • Member of the National Association of Corporate Directors and Financial Executives Institute.
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Bert A. Kobayashi, Sr.

ASB Director
ASB Non-voting Representative to
HEI Compensation Committee

Business experience

  • Chairman, Kobayashi Development Group LLC (real estate developer), since 1997
  • Founder, Kobayashi Group LLC

Skills and qualifications for board service

  • Leadership, executive management, financial oversight, and government relations expertise from his extensive career establishing and leading Hawaii construction and real estate development firms and large development projects.
  • Governance expertise and a strong understanding of the communities in which American Savings Bank operates from his service on numerous non-profit boards in the state, including boards of organizations focused on human services, education, health and culture.
  • Recognized business and community leader, evidenced by several awards honoring his leadership, philanthropy and community contributions, including a 2008 recognition by the State of Hawaii's Senate and House of Representatives for his leadership and contributions to the people of Hawaii.
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Richard F. Wacker


President and Chief Executive Officer,
American Savings Bank, F.S.B.

Director,
American Savings Bank, F.S.B.

Richard Wacker is the President & Chief Executive Officer of American Savings Bank (ASB). Rich joined ASB in 2010 and leads the management team responsible for growing the bank's business to better serve Hawai'i's retail and business customers. He also serves as a director on the ASB Board.

An active supporter in the community, Rich holds leadership positions in Hawai'i, serving on several prominent boards including Child & Family Service (Chair); Hawaii Business Roundtable (Executive Committee); Chaminade University (Board of Regents); University of Hawai'i—Pacific Asian Center for Entrepreneurship; University of Hawai'i Foundation (Vice-Chair); University of Hawai'i—XLR8UH accelerator program and is a member of the Hawaii Bankers Association. He has served as a board member for the Hawai'i Chapter of the American Red Cross, director for Junior Achievement Korea and was a member of the Board of Governors of the American Chamber of Commerce in Korea.

Prior to joining ASB, Rich was Chairman of Korea Exchange Bank (KEB), the fifth largest Korean commercial bank. He joined KEB in 2004 as Chief Operating Officer, was appointed President & CEO in 2005, and also held the position of Chairman of the Board from 2007 through 2010. Rich helped establish the KEB Foundation, the first social welfare organization in the Korean financial industry, and was the organization's second Chairman. In 2008, Rich was recognized as one of Korea's "Most Respected CEOs."

Rich also enjoyed a 20-year career with General Electric (GE) where he was a company officer and held a wide range of senior leadership positions in the U.S. and Europe, including Vice President of Corporate Investor Communications; Vice President and Chief Financial Officer of GE Capital's Card Services unit; General Manager of GE Capital's audit staff; Chief Financial Officer of GE Capital Fleet Services-Europe and global product management positions with GE Medical Systems-Europe. He earned a B.S. degree in mechanical engineering from the University of Missouri.

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James A. Ajello


ASB Director
ASB Risk Committee Member

Business experience

  • Executive Vice President and Chief Financial Officer, Hawaiian Electric Industries, Inc. (HEI), 2011-April 2017
  • Director since 2012, Audit and Corporate Governance Committee Member, Crius Energy Trust (TSX: KWH)
  • Director since 2015, SKAI Ventures

Skills and qualifications for board service

  • 18 years of executive leadership, financial oversight, risk management, investor relations, tax, accounting, financial and SEC reporting and strategic planning experience from serving as EVP and CFO of HEI, serving as President of Reliant Energy Solutions LLC and Senior Vice President and General Manager of Commercial & Industrial Marketing and Senior Vice President - Business Development of Reliant Energy, Inc.
  • 14 years of banking industry experience from serving as Managing Director and Head of UBS Chicago and its corporate banking unit, as well as head of UBS's North American project finance team. Duties focused on corporate finance, capital markets and M & A.
  • In-depth knowledge of issues facing American Savings Bank gained from 9 years as EVP and CFO of American Savings Bank's parent company, HEI.
  • Hawaii business and leadership experience from his 7 years of service as a Trustee on the Hawaii Pacific University Board.
  • MPA from Syracuse University and graduate of the Advanced Management Program of the European Institute of Business Administration in Fontainebleau, France.