- Cherokee Nation Businesses
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Cherokee Nation Businesses, LLC 
Type Tribal-Owned Enterprise Industry Conglomerate Founded Tahlequah, Oklahoma, US (2004) Founder(s) Cherokee Nation Headquarters Catoosa, Oklahoma Area served Worldwide
(Primarily northeastern Oklahoma)Key people Jay Hannah (Chairman)
David Stewart (Chief Executive Officer)Revenue 
US$ 596.7 million (2010)[1]Operating income US$ 87.3 million (2010)[1]Net income US$ 87.5 million (2010)[1]Total assets US$ 470.8 million (2010)[1]Employees 9,000+ (2010) Subsidiaries Cherokee Nation Entertainment
Cherokee Nation IndustriesWebsite CherokeeNationBusinesses.com Cherokee Nation Businesses, or CNB, is an American conglomerate holding company headquarted in Catoosa, Oklahoma, that oversees and manages a number of subsidiary companies. CNB is a wholly owned subsidiary of the Cherokee Nation, the second largest Native American tribe in the United States. CNB operates in the following industries: aerospace and defense, hospitality and entertainment, environmental services, information technology, and security and safety.
Contents
History
Cherokee Nation Businesses was established on June 16, 2004. CNB is a wholly owned subsidiary of the Cherokee Nation. The tribe exerts control over the operations of CNB through the Board of Directors. Upon its establishment, CNB became responsible for providing "strategic direction" to all Cherokee Nation-owned businesses, to diversify the Nation's business holdings, and to act as a holding company for some Cherokee Nation business investments. CNB receives revenues from its subsidiaries in order to fund the expansion of existing firms and the acquisition of new ones. CNB was established to diversify its business interests of the tribe.[2]
Pursuant to the provisions of the Cherokee Jobs Growth Act of 2005, CNB became the holding company for all business enterprises owned by the tribe, including Cherokee Nation Entertainment (CNE) and Cherokee Nation Industries (CNI). CNE was transferred to CNB ownership in 2006 and CNI was transferred in 2008. Prior to these transfers ownership of CNE and CNI were held directly by the Nation. At its establishment, CNB was governed by its own board with both CNE and CNI governed by separate boards of their own. In 2010, the separate boards were dissolved and consolidated into a single CNB board.
In February 2010, CNB and CNI officials announced the closure of CNI's Construction Services Division due to constant financial problems.[3]
Governance
Board of Directors
All eleven members of the Board of Directors of CNB are appointed by the Cherokee Principal Chief with the approval of the Cherokee Tribal Council. As of 2011, the Board is composed of the following members:[4]
Name Board Position Notes Jay Hannah Chairman of the Board Executive Vice President - BancFirst Adolph Lechtenberger Chairman of the Executive Committee Senior Vice President - Citgo Petroleum Corporation Dennis Dowell Chairman of Audit Committee Non-profit executive B.J. Dumond Chairman of Compensation Committee Restaurant and real estate executive Mick Webber Chair of CNI Industry Committee President and CEO - HydroHoist Marine Group David Tipperconnic Chair of Other Companies Industry Committee Former CNB CEO and former Citgo Petroleum Corporation CEO Mitch Adwon Chair of CNE/Real Estate Industry Committee President - Adwon Properties Inc. Lloyd W. Armstrong Vice President - Milargo Exploration LLC David Ballew Chairman of Governance/Nominating/Legal Committee Executive - ONEOK Energy Services Brad Carson Fromer Oklahoma Congressman and CNB CEO William Michael Grass Management
The Chief Executive Officer (CEO) of CNB is David Stewart. Stewart is a Cherokee citizen from Sallisaw, Oklahoma, holds a masters degree in accounting and is a certified public accountant.
Stewart began his career with CNB as the CEO of Cherokee Nation Industries (CNI) in 2001. He resigned that position in 2002 to become the CEO of Cherokee Nation Entertainment (CNE). In 2008, following the resignation of then CNB CEO Brad Carson, Stewart was appointed the CEO of CNB in addition to his role as CNE CEO. Stewart again assumed leadership of CNI in 2010 with his designation as CNI CEO. Under this arrangement, the direct leadership and management of all three major Cherokee Nation business investments is provided by the singular position of the CEO of CNB.[5]
Subsidiaries
Cherokee Nation Entertainment
Cherokee Nation Entertainment (CNE) was formed in the late 1980s and is the holding company for all gaming, entertainment, and hospitality operations of the Tribe. CNE operates eight casinos, a horse racing facility with electronic gaming machines, two retail smoke shop facilities that include electronic gaming machines and other retail facilities including an additional smoke shop, a travel plaza, convenience stores and gift shops. CNE’s gaming and entertainment operations include food and beverage venues, hotels and motels, live entertainment venues and an 18-hole and a 9-hole golf course. CNE operates casinos in the following Oklahoma locations:
- Tulsa (Hard Rock Hotel and Casino Tulsa)
- Fort Gibson
- Roland (Cherokee Casino Roland)
- Ramona
- Sallisaw
- Tahlequah
- West Siloam Springs
- Claremore
CNE is regulated by the Indian Gaming Regulatory Act (IGRA). IGRA mandates that all Class III gaming operations can only be conducted on Tribal land held in trust for the tribe by the Bureau of Indian Affairs.
Cherokee Nation Industries
Cherokee Nation Industries (CNI) was formed in 1969 as the first business entity owned by the Tribe. CNI engages primarily in the production, assembly, and repair of electronic componets and wiring systems, construction, and the provision of medical and janitorial services to the United States federal government. Additionally, CNI serves as a defense contractor for the United States Department of Defense.
CNI is the holding company for several subsidiaries:
- Cherokee Nation Distribution (CND) which provides production, distribution, assmebly, and repair of electronic components and wiring services
- Cherokee Nation Medical Services (CNMS) provides medical employees to other organizations through lease contracts
- Cherokee Nation Construction Services (CNCS) provides general contracting services and construction management
- Cherokee Nation Red Wing (CNRW) was acquired in CNI in 2009 is a defense contractor providing aviation and weapon system engineering and manufacturing
- Cherokee Nation Security and Safety (CNSS) provides internal security for all CNB properties and external security and surveilliance services to private contracts and government agencies
- Cherokee Nation Property Management (CNPM) conducts real estate acquisitions and development for CNB and its subsidiaries
Cherokee Nation Technology Portfolio
- Cherokee Services Group (CSG) provides management information services, network infrastructure management, and software development
- Cherokee Nation Technologies (CNT) markets professional serices to commercial enterprises
- Cherokee Nation Technology Solutions (CNTS) sales and installs electronic components and telecommunications systems
Joint Ventures
- Cherokee CRC - CNB acquired 51% ownership of Cherokee CRC in 2005. Cherokee CRC provides consulting and engineering services, predominately in the areas of aerospace, construction, environmental and professional services
- Aerospace SE (APSE) - CNB acquired 75% ownership of APSE in 2008. APSE distributes aerospace equipment and provides supply chain services to aviation clients
See also
References
- ^ a b c d "2010 Comprehensive Annual Financial Report." Cherokee Nation. (retrieved 2010-09-18)
- ^ CNB Looks to Diversity Tribal Business Interests, Cherokee Pheonix, Travis Snell, 2005-04-08
- ^ Cherokee Nation Industries to Close Construction Operations, Cherokee Phoenix, Will Chavez, 2010-02-10
- ^ Cherokee Nation Businesses Board of Directors, Cherokee Nation Businesses, 2011-09-18
- ^ David Stewart Named Cherokee Nation Industries CEO, Cherokee Phoenix, Travis Snell, 2010-02-16
External links
Categories:- Cherokee Nation
- Manufacturing companies based in Oklahoma
- Privately held companies based in Oklahoma
- Companies based in Tulsa, Oklahoma
- Hard Rock Cafe
- Private equity portfolio companies
- Companies established in 2004
- Hospitality companies of the United States
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