by Lance Turner
Posted 8/14/2013 08:05 am
Updated 1 year ago
Arkansas Business recently noted a change at the top of the Clinton Foundation, with longtime CEO and Clinton confidante Bruce Lindsey stepping down and Eric Braverman, a former partner in New York management consulting firm McKinsey & Co., stepping in. Lindsey will remain "intimately involved" with the foundation as board chairman and adviser to Braverman.
Today, the New York Times examines the foundation (listed at No. 5 on last year's Arkansas Business list of the largest nonprofits in the state), and finds "unease" as the nonprofit strives to establish long-term financial security and "juggle the political and philanthropic ambitions of a former president, a potential future president, and their increasingly visible daughter."
For all of its successes, the Clinton Foundation had become a sprawling concern, supervised by a rotating board of old Clinton hands, vulnerable to distraction and threatened by conflicts of interest. It ran multimillion-dollar deficits for several years, despite vast amounts of money flowing in.
And concern was rising inside and outside the organization about Douglas J. Band, a onetime personal assistant to Mr. Clinton who had started a lucrative corporate consulting firm — which Mr. Clinton joined as a paid adviser — while overseeing the Clinton Global Initiative, the foundation’s glitzy annual gathering of chief executives, heads of state, and celebrities.
The review set off more than a year of internal debate, and spurred an evolution in the organization that included Mr. Clinton’s daughter, Chelsea, taking on a dominant new role as the family grappled with the question of whether the foundation — and its globe-spanning efforts to combat AIDS, obesity and poverty — would survive its founder.
Now those efforts are taking on new urgency.
You can read the complete story right here.