Lanesha T. Minnix
ADVANCED ENERGY INDUSTRIESAbout Lanesha T. Minnix
Independent director of Advanced Energy Industries, Inc. (AEIS); age 49; serving on AEIS’s board since 2020. Currently Executive Vice President and Global Chief Legal Officer at Walgreens Boots Alliance (WBA) since April 2024; previously EVP, General Counsel & Corporate Secretary at Ecolab (June 2022–April 2024); SVP, Chief Legal Officer & Corporate Secretary at Flowserve (June 2018–June 2022); and SVP, General Counsel at BMC Stock Holdings (June 2017–June 2018). Earlier roles at ABM Industries, Shell Oil Company, and Sprint; began career as Corporate Associate at K&L Gates LLP. Education: JD and MBA, University of Tulsa; BS in Marketing, St. Louis University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ecolab Inc. | EVP, General Counsel & Corporate Secretary | Jun 2022–Apr 2024 | Led global legal, governance and compliance |
| Flowserve Corp. | SVP, Chief Legal Officer & Corporate Secretary | Jun 2018–Jun 2022 | Oversaw legal, corporate secretary functions |
| BMC Stock Holdings | SVP, General Counsel | Jun 2017–Jun 2018 | Senior legal leadership |
| ABM Industries; Shell Oil; Sprint | Legal/Corporate roles (increasing responsibility) | Not disclosed | Corporate legal and business roles |
| K&L Gates LLP | Corporate Associate | Early career | Foundational corporate law experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Walgreens Boots Alliance (Nasdaq: WBA) | EVP & Global Chief Legal Officer | Apr 2024–Present | Oversees legal, compliance, regulatory, corporate security |
No other public company directorships for Ms. Minnix are disclosed in AEIS’s 2025 proxy .
Board Governance
- Independence: The Board determined Ms. Minnix is independent under Nasdaq rules .
- Committee assignments (2025 slate): Audit & Finance (member); Nominating, Governance & Sustainability (member) .
- Committee activity and composition:
- Audit & Finance: 11 meetings in 2024; members include Minnix; all independent; audit committee financial experts designated as Foster, Reed, Shirley .
- Nominating, Governance & Sustainability: 4 meetings in 2024; all independent; Minnix listed as member .
- Attendance: Board held 8 meetings in 2024; each director attended above 75% of Board and applicable committee meetings; independent directors held 4 executive sessions .
- Board leadership: Separate Chairman and CEO; structure designed for oversight effectiveness .
Fixed Compensation
| Component | Detail | Amount/Units | Dates/Notes |
|---|---|---|---|
| Annual Board cash retainer | Standard non-employee director retainer | $60,000 | Paid quarterly |
| Committee member fees | Audit member $13,000; Nominating member $5,000 | $18,000 | 2024 program |
| Total cash (2024 actual) | Fee earned/paid in cash | $78,000 | Disclosed for Ms. Minnix |
| Annual equity retainer | RSUs; standard director grant value approx. $200,000 | 2,093 RSUs | Granted May 3, 2024; vests May 3, 2025; fair value $205,093; AEIS close $97.99 on grant date |
| 2024 Director total | Cash + Stock awards | $283,093 | Disclosed for Ms. Minnix |
Program references:
- Committee chair fees: Audit Chair $30,000; Compensation Chair $25,000; Nominating Chair $15,000 (not applicable to Minnix) .
- Chairman of Board additional equity retainer increased by $15,000 in April 2024 (not applicable to Minnix) .
Performance Compensation
| Metric Type | Applied to Director Pay? | Details |
|---|---|---|
| Performance-based cash or equity metrics (TSR, EBITDA, revenue, ESG) | No | Non-employee directors receive time-based RSUs vesting after 1 year; no PSUs or options part of director program |
AEIS’s executive PSU metrics (rTSR vs S&P 1000; non-GAAP gross margin) apply to executives, not directors .
Other Directorships & Interlocks
- Other public company boards: None disclosed for Minnix in AEIS’s proxy .
- Interlocks: Company states no interlocking relationships among directors .
- Related party transactions: None requiring disclosure since Jan 1, 2024 .
Expertise & Qualifications
- Senior leadership and public company experience; global operations exposure .
- Legal, compliance, regulatory oversight; corporate secretary experience across multiple industrial companies .
- Board independence; governance committee participation .
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Beneficial ownership (common shares) | 5,092 | As of Feb 1, 2025 |
| Shares outstanding | 37,720,277 | As of Feb 1, 2025 |
| Ownership % of outstanding | ~0.0135% | Derived: 5,092 / 37,720,277; sources: |
| Unvested RSUs (director grant) | 2,093 | Granted May 3, 2024; vest May 3, 2025; only outstanding unvested awards at YE 2024 |
| Hedging/Pledging | Prohibited | Insider Trading Policy bans hedging/pledging |
| Director stock ownership guidelines | ≥5x annual retainer | 5-year phase-in; all non-employee directors conform or on track |
Governance Assessment
- Independence and committee roles: Minnix is independent and active on Audit & Finance and Nominating, Governance & Sustainability—committees central to financial oversight, compliance, board composition, and ESG governance .
- Attendance & engagement: Board/committee attendance >75%; Audit met 11 times; Nominating met 4 times—indicative of substantive committee workloads; independent directors held 4 executive sessions .
- Pay structure alignment: Director pay emphasizes equity (approx. 72% of 2024 total for Minnix), aligning interests with shareholders; simple, time-based RSU vesting without performance gaming risk .
- Ownership alignment: Beneficial ownership disclosed; RSU grants; robust stock ownership guidelines with phase-in; anti-hedging/pledging policy reduces misalignment risk .
- Conflicts/related party risk: No related party transactions disclosed; company policy requires Audit Committee review of any such transactions; no director interlocks .
- Shareholder sentiment: Say-on-pay received >99% approval at 2024 Annual Meeting, suggesting broad investor support for compensation governance .
Potential Red Flags: None evident from proxy disclosures—no legal proceedings; no related party transactions; hedging/pledging prohibited; director attendance above threshold .
Overall signal: Strong independence, appropriate committee placements (Audit & Nominating), equity-heavy director compensation with ownership guidelines, and absence of disclosed conflicts support investor confidence in board governance quality .