Port Commission expected to review CEO's outside board position

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by KING 5 News

KING5.com

Posted on September 10, 2012 at 3:58 PM

Updated Monday, Sep 10 at 4:31 PM

The Port of Seattle Commission is expected to address the future of CEO Tay Yoshitani at a Tuesday meeting.

Yoshitani's recent appointment to a position on the board of Expeditors International drew criticism from some public officials who questioned whether sitting on the Fortune 500 company's board poses a conflict of interest. Expeditors International is a Seattle-based company that helps other companies with freight and logistics management.

The board position will pay Yoshitani at least $30,000 a year and possibly up to $230,000, including stock options. He currently makes $367,000 a year as the Port’s chief under a contract that runs through 2014.

A group of state lawmakers that includes House Speaker Frank Chopp have asked for a complete review of Yoshitani’s dual employment status. Port Commissioners Rob Holland and Gael Tarleton, who is running for a state House seat, have called on Yoshitani to resign as Port CEO or resign from Expeditors's board.

Yoshitani's outside board position is listed on the agenda for Tuesday's Commission meeting, which is scheduled to begin at 1 p.m.

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