Kim Fennebresque
Albertsons CompaniesAbout Kim Fennebresque
Independent director of Albertsons Companies, Inc. since 2015; age 75. Former Senior Advisor to Cowen Group (2008–2020), previously Chairman, President, and CEO of Cowen (1999–2008). Earlier leadership roles in corporate finance and M&A at UBS and as general partner and co-head of investment banking at Lazard Frères; prior positions at First Boston. Audit Committee financial expert; currently Chair of ACI’s Compensation Committee and member of the Audit Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cowen Group Inc. | Chairman, President & CEO | 1999–2008 | Led strategy, governance, and operations of diversified financial services firm |
| Cowen Group Inc. | Senior Advisor | 2008–2020 | Strategic guidance during growth and market cycles |
| UBS | Head of Corporate Finance & M&A | Not disclosed | Led advisory and transaction execution |
| Lazard Frères & Co. | General Partner; Co-Head, Investment Banking | Not disclosed | Advised complex transactions; governance oversight |
| Dahlman Rose & Co., LLC | Chairman; CEO | Chairman 2010–2012; CEO Jul 2011–Aug 2012 | Led restructuring/strategic initiatives |
| First Boston Corporation | Various positions | Not disclosed | Investment banking experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BAWAG P.S.K. (Austria) | Supervisory Board Member; Deputy Chairman | Member since 2017; Deputy Chair since 2019 | Financial oversight at major bank |
| Ally Financial Inc. | Director | Since May 2009 | Financial services governance |
| BlueLinx Holdings Inc. | Director; Chairperson | Director since May 2013; Chair since 2016 | Board leadership; strategic oversight |
| Ribbon Communications Inc. | Director | Oct 2017–Feb 2020 | Past public-company governance |
| Delta Tucker Holdings, Inc. (DynCorp) | Director | May 2015–Jul 2017 | Past governance in defense services |
| Rotor Acquisition Corp. | Director | Nov 2020–Jun 2021 | SPAC governance |
Board Governance
| Attribute | Detail |
|---|---|
| ACI Board Committees | Compensation (Chair); Audit (Member) |
| Independence | Board determined Independent under NYSE rules; Audit Committee financial expert (with Allen and Schumacher) |
| Attendance | Board met 10 times in FY2024; all directors except Brian Turner attended ≥75% of Board and committee meetings (Fennebresque met threshold) |
| Committee Meeting Cadence | Audit: 4 meetings; Compensation: 4 meetings FY2024 |
| Executive Sessions | Non-management directors hold executive sessions at each regularly scheduled Board and committee meeting |
| Governance Features | Majority independent board; independent standing committees; separate Chair/CEO; annual board/committee evaluations; director stock ownership/retention guidelines |
| Largest Stockholder Influence | Cerberus has nomination rights (up to 4 directors at ≥20% ownership); Fennebresque is not a Cerberus designee |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Board cash retainer (member) | $125,000 | Non-management directors |
| Compensation Committee Chair fee | $40,000 | Chair premium |
| Audit Committee member fee | $25,000 | Member fee |
| Total FY2024 Fees Earned (Fennebresque) | $190,000 | Sum of board/member/chair fees |
| Equity – Annual TBRSUs (grant-date fair value) | $144,994 | Granted first business day of fiscal year; vests last day of fiscal year; DERs accrue on unvested TBRSUs |
| FY2024 Total Director Compensation (cash + equity) | $334,994 | Fees + TBRSUs |
| Meeting Fees | None | Company reimburses reasonable expenses; no per-meeting fees |
| Share Retention Guideline | Retain ≥50% of shares received from equity awards during service; all directors compliant as of June 20, 2025 |
Performance Compensation
| Metric/Instrument | Status | Detail |
|---|---|---|
| Performance-based awards (directors) | Not used | Director equity is time-based RSUs; no performance metrics tied to director pay |
Other Directorships & Interlocks
| Item | Detail |
|---|---|
| Compensation Committee interlocks | None; no insider participation; committee members are independent and non-employee directors |
| Shared directorships with ACI counterparties | Not disclosed |
Expertise & Qualifications
- Financial services leadership; corporate finance/M&A depth (UBS, Lazard, Cowen)
- Audit committee financial expert designation at ACI; strengthens oversight of financial reporting and risk management
- Multi-company board leadership (BlueLinx Chair; BAWAG Deputy Chair; Ally director) indicating governance and strategic acumen
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Source/Notes |
|---|---|---|---|
| Kim Fennebresque | 116,044 | <1% | ACI outstanding shares 563,990,471 as of record date; director-level ownership disclosed |
Insider Trading Compliance
| Item | Detail |
|---|---|
| Section 16(a) compliance | Company disclosed certain delinquent filings for other insiders; no delinquent filings noted for Kim Fennebresque in FY2024 |
| Trading restrictions | Insider Trading Policy prohibits speculative transactions; pledging/hedging requires pre-clearance |
Governance Assessment
- Strengths: Independent; Audit Committee financial expert; chairs Compensation Committee; meets attendance expectations; director pay structure balanced between cash retainer and time-based equity; robust director share retention guidelines drive alignment .
- Potential watchouts: Board includes multiple Cerberus designees due to largest stockholder rights (governance influence); continued vigilance needed to mitigate perceived conflicts, though Fennebresque is not a Cerberus designee . Multi-board commitments (Ally, BlueLinx, BAWAG) imply high workload; monitor engagement and attendance (met ≥75% in FY2024) .
- Related-party exposure: FY2024 related-party transactions involved Cerberus affiliates (IT advisory $4.0M) and a CEO spouse’s brokerage fees via manufacturers; none tied to Fennebresque .
- Say-on-Pay backdrop: 90.3% approval in 2024 suggests investor support for compensation governance overall .