New Profit has added two extraordinary leaders – Valerie Mosley, Chairwoman of Valmo Ventures, and John Rice, Founder and CEO, Management Leadership for Tomorrow (MLT) – to its board of directors. In addition, Gail Franck, who has wide-ranging executive experience in the nonprofit and corporate sectors, recently joined New Profit’s leadership team as Chief Financial Officer.
“We’re tremendously fortunate to welcome a distinguished business leader like Valerie Mosley and a visionary social entrepreneur like John Rice to our board,” said Vanessa Kirsch, Founder and CEO of New Profit. “Their insights and commitment, coupled with Gail Franck’s skills as a financial strategist, will help us push even harder to drive impact through our investing, policy advocacy, and community building work.”
The addition of Mosley and Rice to the New Profit Board of Directors builds on last year’s announcement that Tufts University Provost and Senior Vice President David Harris, Greylock Partners Chairman Emeritus Henry McCance, and Harvard Business School Senior Lecturer Kristin Mugford had joined the board.
Mosley is currently the Chairwoman of Valmo Ventures, a firm that focuses on creating, collaborating, and investing in companies, assets and efforts that add value to portfolio returns and add value to society. Prior to Valmo, she was Partner, Senior Vice President and Investment Strategist at Wellington Management Company, LLP, an $800 billion global money management firm. She currently serves on President Obama’s Presidential Board of Advisors on Historically Black Colleges and Universities, the Harvard Women’s Leadership Board for the Harvard Kennedy School, and the Federal Reserve Bank of Boston Advisory Board for Diversity. She has been honored several times by Black Enterprise Magazine on both its 50 Most Powerful Black Women in Business list and its Top 75 African Americans on Wall Street list.
John Rice is the Founder and CEO of MLT, an organization working to transform the face of leadership in America by equipping underrepresented minorities with the coaching, skills, and relationships that accelerate their rise to senior leadership. Today, Black, Hispanic and Native American minorities represent 30% of the U.S. population, but hold less than 3% of senior leadership positions and 1% of corporate board seats. Over the last 12 years, MLT has built a thousands-strong network of rising leaders by identifying and providing high-potential, underrepresented minorities with a winning professional playbook, one-on-one coaching and door-opening relationships to accelerate their paths to senior leadership. Prior to founding MLT, Rice worked in executive positions at the National Basketball Association and the Walt Disney Company.
Rice will be the first social entrepreneur to fill one of two new rotating board of directors seats set aside for founders or leaders of organizations in the New Profit portfolio. The rotating seats were added to make sure that the voices of social entrepreneurs, who along with philanthropists are the key change agents in the New Profit network, are heard in strategic discussions about the organization’s future. MLT is a New Profit grantee that just completed a reinvestment cycle. As with Rice, the standard for a social entrepreneur who fills one of the rotating seats is that the organization they lead is outside of an investment cycle.
As New Profit’s Chief Financial Officer, Gail Franck is responsible for all of the organization’s finance, accounting, and compliance activities. She has spent her career advancing the work of entrepreneurial nonprofit organizations and private philanthropists across a range of issue areas. Before she arrived at New Profit, Gail served as the CFO for Hunt Alternatives in Cambridge and the VP for Finance at the Stephen Case Foundation in DC. She also led finance teams at two DC think tanks, The Bipartisan Policy Center and the Peterson Institute for International Economics.
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