Former Senator Ayotte to Join Blackstone Group Board
She'll receive $150,000 cash, and $210,000 in stock
Former Senator Kelly Ayotte to join the board of The Blackstone Group next month, bringing the number female directors to two out of 11 total board members.
Ayotte represented New Hampshire in the U.S. Senate from 2010 until her narrow defeat by Gov. Maggie Hassan in 2016. The race was widely seen as one of the most competitive races in the country at the time.
According to a Blackstone SEC filing, Ayotte will receive a $150,000 a year, and “effective May 13, 2019, a grant of deferred restricted common units with a value of $210,000 under The Blackstone Group L.P. Amended and restated 2017 Equity Incentive Plan. These deferred restricted common units will vest, and the underlying common units will be delivered, on the first anniversary of the date of grant, subject to Ms. Ayotte’s continued service on the board of the directors of the General Partner.”
During her tenure in the Senate, Ayotte served on the Senate Budget, Commerce, Homeland Security and Governmental Affairs, Armed Services, Small Business and Entrepreneurship, and Aging Committees. She chaired the Armed Services Subcommittee on Readiness and the Commerce Subcommittee on Aviation Operations. Previously, she served as New Hampshire’s first female Attorney General, first appointed by a Republican governor and twice reappointed by a Democratic governor. She also served as deputy attorney general, chief of the homicide prosecution unit, and as legal counsel to Governor Craig Benson.
Commenting on the appointment, Stephen A. Schwarzman, Blackstone Chairman, CEO and Co-Founder, said, “During her career in public service, Kelly distinguished herself with a willingness to work cooperatively to solve complex challenges,” says Stephen A. Schwarzman, Blackstone Chairman, CEO and Co-Founder. “This judgment, combined with her leadership experience in a number of policy areas relevant to Blackstone’s business, will add great value to the firm.”
Ayotte said, “Blackstone’s ability to navigate the complex and changing world to remain a perpetual industry leader is a testament to the vision and strength of its people. I look forward to contributing to the firm’s continued success, which benefits so many around the world.”
She currently serves on the boards of Caterpillar, News Corp, BAE Systems, Boston Properties, Blink Health and Bloom Energy. She also serves on the advisory boards of Microsoft, Chubb Insurance and Cirtronics, as well as a number of non-profit boards.