September 01, 2015
Total director compensation, 2008–2012: $3,861,012
Average annual director compensation: $772,202
Average compensation per full year of service as director: $259,791
Kenneth M. Duberstein has spent a large portion of his career with one foot in the private sector and the other in the public sector. His most prominent position was as President Reagan’s Chief of Staff, a job he held for a short period of time from 1988 to 1989. From 1981 to 1983, he was a White House Legislative Affairs staffer. He then became Vice President of Timmons & Company, a prominent lobbying firm which has since merged with another shop to become the Prime Policy Group. He returned to the White House in 1987 to become the Deputy Chief of Staff. He still maintains strong ties to Capitol Hill, and even served as an adviser to Senator John McCain’s 2000 presidential campaign.
After leaving the White House Mr. Duberstein became a member of the board of directors at numerous companies. He joined the Boeing board of directors in 1997, where he still resides as the company’s independent Lead Director. He was a member of the board for ConocoPhillips from 2000 to 2012. He is also a member of the board for Dell Computers, and has been since 2011. From 1998 to 2007 he was a legislative consultant on the board of directors for Fannie Mae. He is also currently Chairman and CEO of his own lobbying firm, The Duberstein Group, which was noted among The Hill’s 2012 Top Lobbyist list of most prominent “Hired Guns”.
Between 2008 and 2012, Mr. Duberstein made $3,861,012 as a director on the boards of Boeing, Dell, and ConocoPhillips. To put this in perspective, he made more than 98 percent of all other directors during this period. At the same time overall stocks at all three companies fell, while CEO pay increased by an average of $3,538,672. Boeing stocks fell by 14 percent, Dell by 29 percent, and ConocoPhillips by 36 percent.