Wade D. Miquelon
Acadia Healthcare CompanyAbout Wade D. Miquelon
Independent director at Acadia Healthcare (ACHC) since 2012; age 60. Founder and partner of Playmore Holdings, LLC. Former President, CEO and director of JOANN Inc. (retired May 2023); previously CFO/EVP and President International at Walgreens (2008–2014), CFO/EVP at Tyson Foods (2006–2008), with prior leadership roles at Procter & Gamble. Current advisory board member at Vorto; prior board roles include Alliance Boots and non-profits (Chicago Lyric Opera, Shedd Aquarium, National 4‑H Council). The board determined all directors other than the CEO were independent in 2024; all directors attended ≥75% of board/committee meetings in 2024. Note: JOANN filed for Chapter 11 in March 2024 and January 2025 (post his May 2023 retirement) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Playmore Holdings, LLC | Founder & Partner | Current | Investment/operations focus in beauty, health, leisure |
| JOANN Inc. (NASDAQ: JOAN) | President, CEO and Director; previously CFO/EVP | CEO until May 2023; CFO prior | Company filed Chapter 11 in Mar 2024 and Jan 2025 (post-tenure) |
| Walgreen Co. | CFO, EVP & President International | Jun 2008–Aug 2014 | Senior finance and international leadership |
| Tyson Foods, Inc. | EVP & CFO | 2006–2008 | Corporate finance leadership |
| Procter & Gamble | Various leadership roles | Prior to 2006 | U.S., Asia, Europe assignments |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Vorto | Advisory Board Member | Current | AI-based supply chain company |
| National 4‑H Council | Director and Treasurer | Current (2024 disclosure) | Non-profit governance/finance |
| Alliance Boots | Director (prior) | Historical | Prior for‑profit board role |
| Chicago Lyric Opera; John G. Shedd Aquarium | Director (prior) | Historical | Non-profit boards |
| JOANN Inc. | Director (prior) | Historical | Prior public company board |
Board Governance
- Independence: Board deemed all directors independent except the CEO (2024) .
- Tenure: Director since 2012 .
- Declassification: Board declassification fully effective by 2029, with phased terms through 2028; all directors elected annually from 2029 .
- Say-on-Pay support: ~98% approval in 2024; ~99% in 2023, indicating strong shareholder support for pay program .
- Attendance: Each director attended ≥75% of board and committee meetings in 2024; all directors attended the 2024 annual meeting .
Committee assignments and activity (2024):
- Compensation Committee: Chair (Miquelon); 7 meetings .
- Finance Committee: Member; 0 meetings in 2024 (2 meetings in 2023) .
- Not listed as a member on Audit & Risk (Grieco chair; Bissell, Fucci, Kelly members), Nominating & Governance (Bissell chair; Gregg, Grieco, Kelly members), or Quality & Compliance (Gregg chair; Harris, Grieco members) .
Skills matrix (board self-assessment): finance/risk, M&A/strategy, board governance among his noted strengths .
Fixed Compensation (Director)
| Component | 2024 Program Terms | Wade D. Miquelon – 2024 Amount |
|---|---|---|
| Annual cash retainer | $87,000 | Included in cash total below |
| Committee membership retainers | Audit: $15,000; Compensation: $12,500; Nominating: $10,000; Compliance: $12,500; Finance: $15,000 | Included in cash total below |
| Committee chair retainers | Audit Chair: $30,000; Compensation Chair: $27,500; Nominating Chair: $22,000; Compliance Chair: $27,500; Finance Chair: $30,000 | Included in cash total below |
| Chairman/Lead director | Chairman (non‑management): $125,000; Lead Director: $45,000 | N/A |
| Cash actually paid (fees) | — | $129,500 |
- Notes: Directors can elect to receive retainers in stock; all non-employee directors also received an annual restricted stock grant valued at $160,000 .
Performance Compensation (Director Equity)
| Grant | Shares | Grant Date | Fair Value | Vesting |
|---|---|---|---|---|
| Annual restricted stock | 2,414 | May 23, 2024 | $159,976 | 33⅓% per year over 3 years |
- Valuation based on closing price $66.27 on the day prior to grant . Director equity is time-vesting; no performance metrics apply .
Other Directorships & Interlocks
- Compensation Committee interlocks: None reported (2024) .
- Related party transactions: None reported (2024–2025 proxy) .
Expertise & Qualifications
- Deep finance track record (CFO at Walgreens and Tyson) and international leadership; skills matrix flags audit/finance and M&A strengths .
- Long-standing board governance experience; current advisory and non-profit finance roles (National 4‑H treasurer) .
Equity Ownership
| As-of Date | Beneficial Ownership (shares) | % of Class | Notable Details |
|---|---|---|---|
| March 26, 2024 | 46,074 | <1% | Includes 4,615 time‑vesting restricted shares |
| April 1, 2025 | 48,488 | <1% | Includes 4,669 time‑vesting restricted shares |
- Stock ownership guidelines: Non-management directors must hold ≥5× annual cash retainer; as of Dec 31, 2023, all non-management directors not in transition satisfied guidelines. Hedging and pledging of company stock are prohibited; directors/officers may not hold stock in margin accounts .
Governance Assessment
-
Strengths
- Independent director with extensive CFO and public-company governance experience; chairs Compensation Committee with robust 2024 meeting cadence (7 meetings) .
- Strong shareholder alignment signals: high say‑on‑pay support (98% in 2024; 99% in 2023); ownership guidelines met; hedging/pledging prohibited .
- No related‑party transactions; no compensation committee interlocks .
-
Watch items / potential red flags
- Long tenure (on the board since 2012), which some investors view as a potential independence erosion over time .
- Finance Committee did not meet in 2024 (though other committees were active), which may warrant monitoring given its oversight remit .
- JOANN Inc. filed for Chapter 11 in March 2024 and January 2025, after his May 2023 retirement as CEO—reputational optics to monitor though event occurred post‑tenure .
- The board approved one‑time management cash retention awards in early 2025 due to governmental inquiries; as Compensation Committee Chair, oversight of rationale, structure, and safeguards will be a focus area for investors .
Overall: Miquelon brings deep financial and operational expertise and leads an active Compensation Committee, with no evident conflicts. Key monitoring areas are tenure, Finance Committee engagement, and compensation decisions in the context of ongoing governmental inquiries .