Endeavor Nominates First Woman to Its Board

Kristina Salen - Getty - H 2019
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Former Etsy CFO Kristina Salen's addition would make the company compliant under a California law governing publicly-traded firms.

In its fourth amendment to its S-1 filing to go public, Endeavor has added its first woman to the company's proposed board of directors.

The new amendment, filed Monday, adds former Etsy CFO Kristina Salen as a director nominee, joining CEO Ariel Emanuel; executive chairman Patrick Whitesell; Silver Lake managing partner and board chairman Egon Durban; Silver Lake managing director Stephen Evans; and nominee James Kahan, a former AT&T executive. The previous amendment, filed Aug. 27, had planned for a five-director board at the outset but reserved the right to adjust the number of seats between three and 20.

Salen's addition puts Endeavor on track to be compliant under California law that specifies all publicly traded companies based in the state must have at least one woman on its board by the end of 2019. By the end of 2021, corporations with five directors must include two women, and those with six or more must include at least three. The law, known as Senate Bill 826, was approved by then-Gov. Jerry Brown in September 2018.

Since February, Salen has served as CFO of luxury e-tailer Moda Operandi. She was CFO and COO of artist services company UnitedMasters from July 2017 to October 2018, and her stint at Etsy ran from January 2013 to March 2017. Her financial executive experience prior to that includes roles at Fidelity Investments, Oppenheimer Capital, Merrill Lynch, Lazard Freres and SBC Warburg.

Salen already currently serves as director on the boards for both cloud-based talent management software company Cornerstone OnDemand, where she chairs the audit committee, and SiriusXM Holdings. According to Endeavor's filing, she was selected "because of her professional background, her previously held management positions, her service on other public company boards and her financial expertise."

The six directors will serve staggered three-year terms, with Kahan and Evans in Class I (expiring in 2020), Whitesell and Salen in Class II (expiring in 2021) and Emanuel and Durban in Class III (expiring in 2022). The four Endeavor and Silver Lake execs will serve on the board's executive committee, while Evans will also join independent directors Salen and Kahan on the audit committee.

Boss Betty, which reports on issues relevant to female executives in the workplace, first noted Salen's inclusion.