We expect our employees, officers, and directors to conduct themselves according to the highest level of integrity and ethics. Implicit in this philosophy is the maintenance of sound corporate governance. Our Board of Directors provides strong and effective corporate oversight. All outside directors are independent, and all directors serve on the Boards of both Adams Diversified Equity Fund and Adams Natural Resources Fund.
The Board oversees the management of the business and affairs of the Funds in accordance with Maryland law and other applicable laws and regulations, in a manner consistent with the best interests of the Funds and their shareholders. In this oversight role, the Board serves as the ultimate decision-making body of the Funds, except for those matters reserved to or shared with the shareholders. The Board selects and oversees the CEO, who is charged by the Board with conducting the business of the Funds.
Mr. Dale has served as the Chair of the Fund’s Board of Directors since April 21, 2022. Mr. Dale brings broad expertise in financial management to the Board. He served as Senior Vice President and Chief Financial Officer of The Associated Press (“AP”), one of the largest newsgathering organizations in the world, from 2004 through 2024. His responsibilities at AP included all corporate finance activities, internal audit, global real estate, administrative services, and oversight of AP’s software business, ENPS. Prior to joining AP, Mr. Dale spent 21 years as an investment banker at J.P. Morgan Chase & Co.Inc., advising media and entertainment clients on mergers and acquisitions and corporate finance transactions.
Director since 2026
Dr. Chambers is a seasoned leader and innovator in the educational technology space, leading a range of companies from start-ups to large tech company operations for more than 25 years. He brings broad experience in corporate leadership and governance to the Board, as well as deep understanding of AI and AI-supported developing technologies. As CEO of Jibo, Inc., Dr. Chambers developed the first social robot for the home, named Time Magazine’s Innovation of the Year for 2017. He is an experienced Board member and advisor, currently serving on the Boards of CallMiner, a conversation analytics company, Snorble, developer of a smart sleep assistant for children, and as a Board advisor for several AI and language-driven technology companies.
Director since 2006
Mr. Escherich brings to the Board extensive knowledge of securities investing and stock valuation acquired during his 25-year tenure at J.P. Morgan & Co. Inc. During his tenure at J.P. Morgan, Mr. Escherich was head of the Financial Advisory Department, responsible for the industry analysis on all of Morgan’s M&A assignments and complex credit transactions. Subsequently, as head of Mergers and Acquisition Research, he was responsible for evaluating numerous issues related to maximizing shareholder value, as well as valuation policies and procedures. Since retiring in 2002, Mr. Escherich has focused full-time on private investing and is well versed in the dynamics of today’s equity markets.
Director since 2020
Ms. Jammet is a seasoned investment management professional and experienced corporate board member who brings more than 30 years of experience to the Fund. Currently a Principal with Bristol Partners LLC, Ms. Jammet served as Senior Vice President and Portfolio Manager at global asset management firm Legg Mason, Inc. (now Franklin Templeton), where she was responsible for $20 billion in client assets before retiring in 2013. Ms. Jammet is a member of the Board of Directors of Western Alliance Bancorporation (NYSE: WAL). She currently serves as an Advisor to Loyola University Maryland’s Finance Department and is a member of the National Association of Corporate Directors, as well as the Women Corporate Directors Foundation. Ms. Jammet holds a CERT Certificate in Cybersecurity Oversight, awarded by the Software Engineering Institute, Carnegie Mellon University.
Director since 2017
Ms. Kloppenburg brings a wealth of knowledge of securities investing and the investment management industry to the Board, having served in many key roles at Loomis Sayles & Company, an investment management firm with more than $300 billion under management. During her more than 30-year career with Loomis Sayles, Ms. Kloppenburg was, at various times, the Director of Equity Research, Director of Large-Cap Equities, Chief Investment Officer - Equity Group, and Chief Strategy Officer, in addition to serving as a member of the firm’s board of directors. Ms. Kloppenburg is a member of the Boards of Trustees of Transamerica Funds, Transamerica Series Trust, and Transamerica Asset Allocation Variable Funds. She also serves as an adviser to a private family office.
Director since 2021
Ms. Musser Nelson is a seasoned investment management professional specializing in traditional and alternative financial assets, as well as an experienced corporate board member who brings more than 30 years of investment management expertise to the Fund. Ms. Musser Nelson serves on the Board of Trustees of Blue Owl Alternative Credit Fund. Currently an adviser to investment firms, foundations, and trusts, she also serves, voluntarily, as a Trustee and a member of the investment committee for the Isabella Stewart Gardner Museum. Ms. Musser Nelson formerly was the Managing Director of Investments for Cambridge Associates, a global asset manager for endowments, private wealth and pension plans. Prior to that, she served in senior management roles at Bain Capital, ING Capital Advisors, and Eaton Vance. Ms. Musser Nelson is a former member of the Board of Directors of First Eagle Alternative Capital BDC, Inc. and a former director of Alcentra, an asset management subsidiary of BNY Mellon.
Interested Directors
Director since 2023
Mr. Haynie is the CEO of Adams Diversified Equity Fund, Inc. and and the CEO and President of Adams Natural Resources Fund, Inc. Prior to joining Adams Funds, he was Chief Investment Officer, U.S. Equities, at global investment manager BNP Paribas Investment Partners and before assuming the CIO role he was a Senior Portfolio Manager with that firm. He served Adams Funds in various executive roles over the past 10 years prior to his election as CEO and has over 36 years of experience in financial services and asset management.
