The California Community Foundation (CCF) announces Sheldon M. Stone, a founding member of Oaktree Capital Management LP, as chair of the board of directors. He previously served as chair of the community foundation’s eight-member Investment Committee, a position in which he is succeeded by Preston Johnson, board member and president of Johnson Martin Advisors, Inc., in Beverly Hills.
“I am honored and delighted with the opportunity to lead a nonprofit organization that has been a true cornerstone in Los Angeles and a national model in philanthropy for more than nine decades,†said Stone. “I plan to ensure CCF’s performance is strong, responsible and transparent today while encouraging management and staff as they explore our future potential.â€
Never forgetting his past or ignoring his passions, Stone supports his alma mater, Bowdoin College, as a trustee, and the Los Angeles County Museum of Natural History, as a board member. In addition to supporting CCF through his service on the board, he and his wife, Cindy, are members of the Legacy Society and their fund invests in multiple areas, including the arts, historic preservation and college scholarships.
At Oaktree Capital Management, Stone manages the domestic high-yield bond department and supervises European high yield bond activities and Mezzanine Fund. His distinguished career has included senior positions at the TCW Group, Citibank and The Prudential Insurance Company of America.
“Sheldon brings immense insight, commitment and vision to his work with CCF, whether in his role as a board member, business leader or donor, that will propel us forward as an organization,†said Antonia Hernández, president and CEO of the foundation. “We are lucky to benefit from his dedication to Los Angeles and, under his leadership, I am looking forward to continuing to address some of the most intractable issues in our communities today, engaging in community problem-solving and inspiring philanthropy all along the way.â€
Stone succeeds Reveta Bowers, an eminent leader in early childhood education who served for two years as board chair and continues as a regular member of the 20-person volunteer board.
The California Community Foundation (CCF) is a public, charitable organization that has played several important roles in communities of Los Angeles County since 1915. It encourages philanthropy and serves as a steward of 1,600 charitable funds and foundations including 150 scholar funds. It makes grants to nonprofits in the arts, education, health care, housing and neighborhoods, and human development.
For more information, visit myccf.org.
