Melanie Boulden
ADOBEAbout Melanie Boulden
Melanie Boulden (age 52) is an independent director of Adobe Inc., serving since October 2020. She is Executive Vice President and Chief Growth Officer at Tyson Foods and previously led major brand portfolios at The Coca-Cola Company; she holds a B.S. in English from Iowa State University and an M.B.A. (marketing and finance) from The University of Iowa. Her board attributes emphasize executive leadership, global leadership, business development and strategy, operations, finance/accounting, and sales/marketing .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tyson Foods | EVP & Chief Growth Officer | Feb 2023–present | Growth leader across portfolio |
| Tyson Foods | Group President, Prepared Foods | Sep 2023–Oct 2024 | Business unit leadership |
| The Coca-Cola Company (North America OU) | Chief Marketing Officer | Jan 2021–Dec 2022 | Led multibillion-dollar brand portfolio |
| Coca-Cola North America | President, Still Beverages | Apr 2020–Jan 2021 | Led water, sports drinks, tea/coffee |
| Coca-Cola North America | President & GM, Venturing & Emerging Brands | Aug 2019–Apr 2020 | Innovation and emerging brands |
| Reebok International Ltd. | Global Head of Marketing & Brand Mgmt | May 2018–Jun 2019 | Global brand stewardship |
| Crayola LLC; Kraft Foods Group; Henkel Consumer Goods | Marketing & general management roles | Not disclosed | — |
External Roles
| Company | Role | Tenure | Board/Committee Roles |
|---|---|---|---|
| Tyson Foods | EVP & Chief Growth Officer | Feb 2023–present | None disclosed (not a Tyson director) |
| — | Other public company boards | None | — |
Board Governance
| Item | Detail |
|---|---|
| Committee assignments | Executive Compensation Committee, Member |
| Chair roles | None |
| Independence status | Independent (affirmatively determined) |
| Board & committee attendance | Each director attended ≥75% of meetings of the Board/committees served in FY2024; Board held 5 meetings, committees held 19; all 12 directors attended the 2024 Annual Meeting |
| Executive sessions | Independent directors met in executive session 4 times in FY2024 |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (FY2024) | $60,000 | Paid quarterly; eligible for deferral |
| Executive Compensation Committee membership fee | $15,000 | Member fee; eligible for deferral |
| Total cash fees (FY2024) | $75,000 | Boulden elected to defer 100% of cash fees under the Deferred Compensation Plan |
| Meeting fees | Not disclosed (program structured as retainers + committee fees) | — |
| FY2025–FY2026 policy update | Chair retainers increased (Audit $45k; Comp $35k; Governance $25k); member retainer unchanged; annual equity value increased to $330,000 | Applies to non-employee directors generally |
Performance Compensation
| Grant Date | Type | Shares | Grant-Date Fair Value per Share | Total Grant-Date Fair Value | Vesting | Deferral |
|---|---|---|---|---|---|---|
| Apr 17, 2024 | RSUs | 633 | $474.45 | $300,327 | 100% on the next annual meeting date, subject to service | Elected to defer 100% of RSUs under the Deferred Compensation Plan |
Adobe’s director equity program for FY2024 provided a single annual RSU grant that vests in full at the next annual meeting; no options or performance-based equity are granted to directors .
Other Directorships & Interlocks
| Category | Status |
|---|---|
| Current public company boards | None |
| Compensation committee interlocks | None; no member of the Executive Compensation Committee had interlocking relationships with other companies in FY2024 |
| Related-party transactions | None >$120,000 since the beginning of FY2024; Governance & Sustainability Committee reviews related-person transactions |
Expertise & Qualifications
- Executive leadership, global leadership, business development & strategy, operations, finance/accounting, and sales/marketing .
- Education: B.S. (English), Iowa State University; M.B.A. (marketing & finance), The University of Iowa .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (as of Feb 21, 2025) | 3,065 shares; percent of class “*” (less than 1%) |
| Unvested RSUs outstanding | 633 (FY2024 grant) |
| Shares pledged as collateral | None (company states no pledging by execs/directors) |
| Hedging/pledging policy | Company prohibits pledging, hedging, and short sales of Adobe equity |
| Ownership guidelines | Must retain 50% of net shares until holdings equal/exceed a value of 10× annual retainer; all non-employee directors were in compliance as of Nov 29, 2024 |
| Deferred compensation elections | Deferred 100% of cash fees and 100% of the April 17, 2024 RSU grant |
Governance Assessment
- Independence and attendance: Independent with documented participation at or above minimum thresholds; robust board process with 5 Board and 19 committee meetings in FY2024; independent directors held 4 executive sessions, strengthening oversight .
- Committee role and expertise: Active member of Executive Compensation Committee, bringing deep marketing and growth expertise from Tyson and Coca-Cola; Adobe’s comp committee uses an independent consultant (Compensia) and targets peer-median cash with upper-quartile equity for directors—supportive of alignment without overpaying .
- Ownership alignment: Strong alignment via RSU-based pay, prohibition on hedging/pledging, and rigorous director ownership guidelines (10× retainer) with compliance; Boulden elected to defer both cash and RSUs, signaling longer-horizon alignment .
- Conflicts and related parties: No related-person transactions disclosed; compensation committee interlocks absent. External executive role at Tyson Foods is notable, but no Adobe-related-party exposure identified in FY2024 disclosures .
- Shareholder sentiment: Say‑on‑pay approval for executive compensation was ~85% at the 2024 annual meeting, indicating reasonable investor support for Adobe’s overall pay practices and governance framework .