In selecting the Board-recommended candidates, the CIRI Board looks for demonstrated decision-making, leadership experience and communication skills, a strong understanding of business and basic financial knowledge, a college degree or equivalent business experience and relevant industry experience in one or more of CIRI’s primary business segments. Familiarity with the Alaska Native Claims Settlement Act and involvement in the Alaska Native/American Indian community are essential, and applicants are expected to exhibit professionalism, sound judgment, equanimity and integrity. After a thorough and careful review the individuals below were selected for their commitment to CIRI’s long-term viability, and because they have the experience and ideals that best match CIRI’s short-term and long-term investment strategies and goals. Please take a few moments to read the biographies of each of the Board-recommended candidates, including in-depth histories of their professional and civic involvement and personal statements to support their candidacies.
JOHN J. ESTABROOK, JR.
Athabascan
There are two primary reasons I am running for the Board of Directors for CIRI. The first is to give back to the company. CIRI has provided my family and me with many opportunities. CIRI provided a scholarship that allowed me to attend one of the top engineering schools in the nation, Colorado School of Mines. They also provided me the opportunity to work for CIRI as a summer intern in their resources department while I was attending college. This was an invaluable experience that let me apply the skills I was learning in school to real-world situations. That experience complemented my schooling well. I believe it is important that CIRI continue to offer its Shareholders and Descendants these types of opportunities.
The second reason I am running for the board is to ensure the knowledge of the original Shareholders is passed on to the next generation. I am a lifelong Alaskan, born and raised in Anchorage. I am not an original Shareholder; my shares were gifted to me by family. The existing board has led the company for many years and has gained valuable knowledge. I would like to help to transfer this knowledge to the next generation of leaders and continue to grow the company.
As stated above, I attended the Colorado School of Mines and graduated with a Bachelor of Science degree in petroleum engineering and a minor in economics and business. Following my graduation, I moved to Fairbanks and started my career with Alyeska Pipeline Service Company (Alyeska) in the engineering department. While at Alyeska, I went back to school and graduated from the University of Alaska Anchorage (UAA) with a Master of Business Administration (MBA). After obtaining my MBA, I spent several years at Alyeska in the supply chain management department, using and further developing the skills I learned at UAA. I currently manage our family real estate portfolio in Anchorage. Our portfolio includes over 250,000 square feet of office buildings, retail and warehouse space.
The CIRI Board appointed me to the Cook Inlet Tribal Council (CITC) Board of Directors in September 2011. I serve on the compensation committee for that board. In 2020, the CITC Board appointed me to the Clare Swan Early Learning Center Board, and I serve as that board’s Chair. In addition, over the years, I have volunteered at the Native Youth Olympics, the CIRI Golf Classic and participated in the Alaska Federation of Natives as a delegate. I have a diverse background in both technical and business issues. I would be an excellent addition to the board and would put my skills to work for the CIRI Shareholders. I would appreciate your vote.
CAROL A. GORE
Aleut
I am a Shareholder of CIRI and Ninilchik Native Association. I am also an enrolled tribal member of the Ninilchik Traditional Council. Anchorage is my hometown.
On June 2, after more than 22 years, I will serve my final day as Cook Inlet Housing Authority’s (CIHA) president/CEO. My decision to leave CIHA was driven by my desire to honor the leadership CIHA has built over 10 years. We’ve done amazing work together providing affordable housing opportunities that empower our people and build our community providing a portfolio of multi-family housing that has grown from 267 to almost 1,800 apartments. We’ve also developed almost 600 affordable apartments for other entities in Hooper Bay, Wasilla and Palmer. We started as an organization that relied solely on government funding and have grown to an organization that diversified its resources and today has an annual budget that is five times larger.
I believe the most important decision a CEO can make is to step aside when the time is right. The pandemic provided clear evidence the CIHA leadership team is ready to lead and the economic and political environment ahead will provide new opportunities that will benefit from this next generation of leaders. It was my time to step out of the way to let them lead. I am very proud of this leader-full organization. Over my last few months, we led a thoughtful, planned transition with the board’s selected president/CEO.
At the same time, I feel like I am just hitting my stride as a leader. I am more confident than ever that giving back to your community is a deep responsibility we should all honor. And, I know, I have more to give. CIRI has always been my family and community. I am grateful for the many opportunities CIRI provided to me from my brief service as a CIRI Board member in 1987 to my position with Cook Inlet Investment Management Inc. (CIIMI) in 1989 to an invitation to join CIRI’s real estate team in 1990. It was quite the opportunity to help build a national real estate portfolio until it was sold in 1999. That 10-year chapter led CIRI’s president to lend me to CIHA to support a leadership transition. I fell in love with the opportunity and the last 20plus years have been my most challenging and rewarding.
In these 20-plus years I’ve been exposed to federal, state and local politics and economics through legislative advocacy and federal funding negotiations. Our real estate transactions are complex and compliance for a multitude of funding sources while focused on providing housing has required developing solid internal infrastructure, good partners and a strong focus on external relations.
I am an experienced Board member who is focused on listening, accountability, collaboration and compromise. I am known for doing my homework and asking hard questions. I also know firsthand that working together works. My goal continues to be to provide CIRI with a return on investment for the opportunities CIRI provided to me. Serving on the CIRI Board would allow me to find my “next” in my journey to give back. It would be a privilege to be considered.
Thank you for your consideration.
Respectfully submitted,
Carol A. Gore
ROBERT E. HARRIS
Inupiaq
My name is Robert E. Harris and I am asking for your support for reelection to the CIRI Board of Directors. I believe that it is important to continue to grow our company to provide a stable stream of dividends and opportunities for Shareholders, and to protect our cultural heritage for the many generations of Shareholders to come.
I was raised in Anchorage and on a family homestead in north Kenai. From my time on our family’s homestead, I learned the value of hard work, which has helped me throughout my career. My work experience has given me hands-on experience in business development, from running my own consulting business to a startup energy services company. I have also worked in new venture technology development, and with established companies seeking to improve their operations and profitability. Most recently, I served as the chief fiscal officer for the Municipality of Anchorage, and prior to that, I managed teams of engineers designing electric power generation facilities.
CIRI faces a number of important challenges and opportunities in the years ahead as we work to grow Shareholders’ equity and serve our Shareholders. To continue growing CIRI, I believe we must continue to innovate and seek new investment opportunities in order to improve our profitability. We have to continue the hard work of improving what we already do well so that we are ready for the future.
I hope to continue to bring my energy, experience and education to work for you as a member of the Board, making it possible for us to realize the best that our future has to offer. If reelected to the Board, I will serve with honesty, integrity and dedication. Thank you for your consideration and I ask for your support of the Board-recommended slate of candidates.
CHERYL L. MULCAHEY
Inupiaq
I would appreciate the opportunity to bring my knowledge and experience in technology, financial reporting, compliance and controls, and risk management to help position CIRI for continued and sustained growth. This will provide more opportunities for Alaska Native youth in the future and help preserve Alaska Native culture through many of the services and organizations that CIRI supports.
I have over 20 years of business experience in a wide range of industries and roles, including leadership roles in a public accounting firm and a global financial services and technology firm. My educational background includes a Bachelor of Science degree in accounting and computer information science.
I was raised in Alaska, spending summers fishing with my family on the Kenai Peninsula. After attending college on the east coast I stayed to work in Philadelphia and New York. I have also raised two children, returning home to Alaska most summers to visit family.
I would bring a broad business and risk management perspective, focusing on ways to ensure the strength of the company for future generations, identifying opportunities and their risks and benefits. The key to the near term success of the organization is looking for opportunities to grow revenues in an always changing environment while protecting the existing assets of the company.
The key to future success will be developing our youth into leaders in their communities, within Alaska, and beyond. CIRI has a unique responsibility to both its current and future Shareholders and I would be excited for an opportunity to further that mission as a Board member.
Thank you for your consideration,
Cheri Mulcahey
SAMUEL G. SPANGLER
Aleut
I joined CIRI’s Board in 2017 near the end of a long career in the tech industry. I have worked diligently on your behalf and I am humbly seeking your support for a third term.
We have all heard countless times since the beginning of 2020 how the past three years have been “unprecedented.” Through the difficult trials of the COVID-19 pandemic and volatile economic conditions your board has worked hard to focus on both the short-term needs and long-term expectations of its Shareholders. As we have not been able to meet face-to-face over the past three years, a short summary may be valuable to help you understand how your Board and executive leadership team think and act on your behalf.
First, we have continued to refine CIRI’s business strategy – strengthening and growing North Wind Group, selling underperforming assets, making new investments in private equity and energy, harvesting profits in our real estate portfolio and investing them back into new opportunities. In 2020, CIRI took a leadership position in securing CARES Act funding, successfully defending our right to those funds from parties that opposed our allocation. Ultimately, CIRI distributed significant funds to CIRI-related organizations, and through CIRI’s CARES Act Direct Assistance Program, to CIRI Shareholders and Descendants, and their dependents. We improved alignment of our executive compensation plan with our strategy, results and performance and strengthened our board and Executive Leadership Team (ELT) through self-evaluation, coaching and adding new talent where appropriate. We also implemented the Shareholder-approved CIRI Settlement Trust (CST). And finally, we continue to diligently search for new operating business opportunities.
These actions were driven for the purpose of maximizing value for CIRI Shareholders both today and in the future. I believe you can see the positive results of these and other actions approved by your board and executed by your ELT in terms of asset growth, revenue growth and net income.
On a personal level, as I have gained experience and knowledge regarding CIRI’s mission, strategy, businesses and socially driven enterprises, I have increased my participation and workload as a director. In 2019, I accepted the role of chairperson of the Compensation Committee. In late 2021, I accepted the role of chairperson of the CST and in June of 2022 I accepted the role of vice chairperson of the CIRI Board. Reflecting on my past six years, I am reminded of the tremendous debt of gratitude that I owe retiring fellow directors Roy Huhndorf, Pat Marrs and Katrina Jacuk. Their long tenures of service to CIRI as well as their mentorship, guidance, support and friendship are deeply appreciated.
Looking forward, I will work with my fellow directors and the ELT to focus on diversifying and growing CIRI’s portfolio of operating businesses, continuing to optimize the value and impact of the CST, maintaining leadership excellence and supporting a constructive conversation around the topic of Descendant inclusion.
I hope you will support the Board-nominated slate in this year’s election and I look forward to seeing you in 2023.
Thank you,
Sam Spangler
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