March 17, 2004
Contributed by CEO Message
I am happy to report that after reviewing all of the preliminary reports and the Probate Court's decision, the Trustees of Kamehameha Schools have decided, individually and voluntarily, to waive any additional compensation that the Court has found deserving. In essence, they are keeping their compensation at the same level it has been for the last three years, or less, depending on the number of meetings held. At this time, everyone at Kamehameha is exercising budget constraint as we prudently manage the resources of the Trust while maintaining the high quality of our educational reach. By taking this action, the Trustees are clearly modeling the same behavior we are all demanding of ourselves. The Trustees sincerely appreciate the disciplined work of the Compensation Committee and the fair and thoughtful decisions of Probate Court Judge Colleen Hirai. I have personally witnessed the long and arduous hours that the Trustees dedicate to the Schools, and it is gratifying to see that Judge Hirai also recognizes that contribution. I hope this clears up any confusion surrounding this issue. The Trustees and I extend our mahalo to all of you for your aloha and your continued support.
Kamehameha Schools’ policy is to give preference to applicants of Hawaiian ancestry to the extent permitted by law.
