BOARD CHAIR REPORT
Greetings Shareholders,
I hope you all are enjoying your summer this year; it is so nice to get out and see family and friends. This has been a very tough year for everyone, and your Board of Directors recognizes that. This year, for COVID relief, the Board has again, provided additional dividend funding. This summer, you will see a $10 per share dividend. Please know, $6 will come from general funds and $4 will come from the shareholder permanent fund. The Board felt strongly, that if there ever was a time to dip into this fund for our people, it is now. We hope this $10 per share dividend provides some relief to our shareholder families as we continue to navigate these difficult times.
The Board also opted to move the Annual Meeting back to Anchorage for 2021. There are still limitations on gatherings outside of Alaska, and the Board felt it was necessary to make meeting plans in a location that allowed for a face-to-face meeting at 100% capacity. That location is Anchorage at the Dena’ina Center on October 16. This will be a different kind of Annual Meeting than shareholders are used to in that we will not have the usual activities. To limit our time in a large group, the Board has opted to cancel the Aleut Village Conferences, Culture Night, banquet, booths, and on-site voting at this meeting. The Board has also opted to limit this year’s meeting to business only with the expectation that the meeting will be less than two hours. The Board does want an in-person meeting; however, we also feel that if one shareholder contracted this terrible COVID virus at our gathering, it would be one too many. You will see more on this in the coming weeks. Your Board cares deeply about your safety and felt this abbreviated hybrid was necessary this year.
Recently, the Board of Directors accepted the resignation of Mr. Thomas Mack. We want to thank Thomas for his years of service to our people as our President and then as our President & CEO. Thomas resigned on May 10, 2021, and the Board provided him with a severance package.
The Board welcomes Mr. Martin Hanofee as the Interim President & CEO at The Aleut Corporation. Martin is no stranger to the Aleut Family of Companies and this transition has occurred very smoothly. Martin has been in charge of our largest subsidiary, Aleut Federal, and is well-versed in the activities of our Aleut companies. Martin has extensive experience in government contracting, including work at both Tatitlek Corporation and Chugach Alaska Corporation, along with Raytheon and Fluor. Thank you, Martin, for stepping up for the team to fill this important role.
The Aleut Corporation is going through some changes and your Board is working diligently to address these changes. We are wholeheartedly committed to growing our own within the walls of our company, and we’ll continue to meet as a Board throughout the summer as we move on to a new phase of The Aleut Corporation!
Thank you,
Sharon Guenther Lind, Ph.D.
Chairman of the Board