Herbert Hughes Biography and Net Worth

Herbert Hughes has been a director since July 9, 2019. He served as Lead Independent Director from December 2021 through June 2022 and was appointed as Chair in June 2022. Mr. Hughes is Chair of the Audit Committee, a member of the Compensation Committee, and a member of the Nominating and Governance Committee. Mr. Hughes previously served as Chair of an Ad Hoc Committee during 2021 and 2022 overseeing the establishment of the Company’s stock repurchase program. Mr. Hughes has over three decades of experience in finance, risk management, operational management, and derivatives modeling as an advisor and leader of a diverse range of businesses and is an “audit committee financial expert,” as such term is defined in Item 407(d)(5) of Regulation S-K. Since March 2017, Mr. Hughes has been Chief Financial Officer of Wormhole Labs, a metaverse emerging technology company using mixed and augmented applications in enterprise and consumer markets, and has served on its board of directors. At Wormhole Mr. Hughes is responsible for financial reporting, capital structure and formation, and SAAS and ecommerce negotiations, and has worked with the Chief Technology Officer on issues related development of Wormhole’s cybersecurity program. Mr. Hughes has held executive level positions in several industries including technology, hospitality, asset management, oil and gas exploration and production, and oil industry services. Through his professional investment and advisory positions, Mr. Hughes has gained valuable experience with some of the unique challenges related to leadership and growth of an early-stage technology business. Mr. Hughes received a B.A. from Harvard University. Mr. Hughes is a member of the Minnesota Chippewa tribe and the National Congress of American Indians. Mr. Hughes is the Company’s first independent Chair and during his tenure as Lead Independent Director and as Chair he has focused the Board on the Company’s strategic plans to achieve short- and long-term shareholder value, on management oversight of key drivers and, with the Nominating and Governance Committee, on improving board communications, efficiency, and focus. During his tenure as Chair of the Audit Committee, the Company has eliminated material weaknesses in its financial processes and controls and established a robust oversight program to monitor financial and enterprise risk including retention and continuity of a Chief Financial Officer and independent public auditing firm, and overseen management’s development of a comprehensive program for timely and reliable financial reporting and controls, including systems and controls.