Keystone Lands Technology-Forward Industry Leaders for its Board of Directors
Michael D. Penner and Michael Rhodes bring exceptional expertise in technology and business transformation at a moment when Keystone's AI expertise provides profound opportunity
NEW YORK, April 28, 2026 /PRNewswire/ -- Keystone, the leading global technology advisory firm to the world's largest and most critical technology and science-based platforms and ecosystems, today announced the appointment of Michael D. Penner and Michael Rhodes to its Board of Directors (the "Board"). Penner's role includes serving as Senior Adviser to the CEO. Keystone's new Board appointments extend Keystone's leadership at a moment of profound business, litigation, and regulatory change—all of which requires Keystone's expert field and its decades of experience in technology, machine learning, and AI.
"Keystone's history and success have been defined by bringing expertise from academia and industry to guide firms through moments of profound technological and strategic change. That DNA matches perfectly with the extraordinary careers and experience of Michael Penner and Michael Rhodes," said Keystone CEO Jeff Marowits. "Penner has a proven track record working alongside private equity sponsors and boards to execute value creation in complex, large-scale businesses. From chairing Hydro-Québec and EnfraGen to his board role at Scotiabank and leadership with Partners Group, he brings a highly relevant combination of governance, operating insight, and capital allocation experience to Keystone. Rhodes is a first-rate litigator, a trusted advisor to the world's leading technology firms and an entrepreneur-at-heart who helped build Cooley into one of the world's most innovative and respected law firms, distinguished for its representation of venture backed firms, venture investors, and the major technology platforms."
Penner is a corporate leader, strategic advisor, and former CEO with extensive experience working alongside private equity investors and their portfolio companies. He has served as chairman, operating partner, and senior advisor to organizations executing complex value creation initiatives. He has chaired major energy and infrastructure platforms—including Hydro-Québec, EnfraGen, and USIC—overseeing large-scale, operationally complex businesses. At USIC, a ~10,000-employee organization supporting critical infrastructure across the United States, he served as Chair and Lead Operating Director, helping guide its transformation. He also spent nearly a decade on the board of one of Canada's largest financial institutions, contributing to governance and oversight during a period of industry change. As Senior Advisor to the CEO, Penner works closely with Keystone's leadership on strategic priorities and execution. He also co-created and founded a multidisciplinary institute at Université de Montréal focused on ESG, with an emphasis on the governance of AI.
"I focus on working with leadership teams and investors at defining moments—where strategy translates into execution and results," said Penner. "Keystone has built a distinctive position at the intersection of technology, academia, economics, and decision-making, driven by a leadership team with a truly differentiated mix of academic depth and practical expertise. As AI becomes central to how companies operate and compete, I look forward to supporting the team in turning that strength into lasting impact."
Rhodes is a distinguished trial lawyer and trusted advisor to innovators and disruptors in technology, media, and emerging industries. He previously served as Global Chair of Cooley LLP's Litigation Department and as Chair of its cyber, data, and privacy practice, where he guided high-stakes litigation, intellectual property matters, and complex data-privacy issues for leading tech companies. He has previously represented Facebook, Google, OpenAI, and the Kardashian-Jenner family, among others. With over 40 years of experience, Rhodes has built a reputation for strategic counsel spanning law, innovation, and disruptive business models.
"I've been working on AI and machine learning cases for as long as the technology has existed, and I can safely say from firsthand experience that there's no firm I'd turn to before Keystone for guidance on this technology's impact," said Rhodes. "The firm understands technology and AI at a level that no other can match."
About Keystone
Keystone is a global technology and advisory firm specializing in economics, technology, strategy, and complex digital ecosystems. The firm advises organizations on the strategic, regulatory, and competitive implications of transformative technologies, including AI and digital platforms. By combining advanced technology, strategic consulting, and applied econometrics, Keystone delivers innovative solutions to organizations across the technology, business, legal, and government sectors. Founded in 2003, Keystone operates globally with offices in New York, San Francisco, Boston, Seattle, London, Dubai, and Washington, D.C. For more information, visit keystone.com.
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