Ex-Maine senator Olympia Snowe joins T. Rowe Price board

Olympia J. Snowe, the former Republican senator from Maine, has joined T. Rowe Price Group's board of directors, the Baltimore-based money manager announced Thursday.

Snowe served in the House of Representatives from 1979 to 1995, when she started representing Maine in the Senate until this year. She now is chairman and CEO of a policy and communications consulting firm and a senior fellow at the Bipartisan Policy Center, Price said.

As part of her compensation, Snowe received 4,200 restricted shares that vest a year from now. Price independent directors' compensation includes a $75,000 annual retainer, $1,500 per meeting, and thousands of dollars for heading up a committee. Their total compensation last year, which included stock awards, ranged from $238,823 to $309,618, according to the company's proxy statement.

"Olympia brings a broad range of valuable leadership and public policy experience that will serve the board and the firm well," said Chairman Brian C. Rogers in statement.

The company also declared a quarterly dividend of 38 cents per share to be paid out Sept. 27.


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