David Sagehorn
AGCO CORP /DEAbout David Sagehorn
David Sagehorn (age 61) is an independent director of AGCO, serving since March 2022. He previously spent 13 years as Executive Vice President and Chief Financial Officer of Oshkosh Corporation, with prior roles including Vice President & Treasurer, Vice President Business Development, and Vice President, Defense Segment, bringing deep public-company finance, audit, disclosure, and M&A experience. He also serves on Chart Industries’ board as Audit Committee Chair and a member of the Compensation Committee, and is designated an “audit committee financial expert” at AGCO. His board tenure, CFO background, and multi-committee service position him as a financially sophisticated voice in audit, finance, and pay oversight .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Oshkosh Corporation | Executive Vice President & Chief Financial Officer; previously VP & Treasurer; VP Business Development; VP, Defense Segment | CFO for 13 years (years not specified) | Led public-company finance, audit, disclosure, and compliance; experience relevant to AGCO’s M&A and precision-farming expansion strategy . |
External Roles
| Organization | Role | Committee Roles |
|---|---|---|
| Chart Industries, Inc. | Independent Director | Audit Committee Chair; Compensation Committee member . |
Board Governance
- Independence: The Board determined all directors except the CEO (Eric Hansotia) and Ms. Srinivasan are independent; Sagehorn is independent .
- Committee assignments (2024): Audit Committee (member; designated “audit committee financial expert”), Finance Committee (member; joined April 2024), Talent & Compensation Committee (member). He is not a chair of any AGCO committee .
- 2024 committee meeting cadence (workload context): Audit (11), Finance (4), Governance (6), Sustainability (3), Talent & Compensation (5), Executive (4) .
- Attendance: In 2024, the Board held 5 meetings and each director attended at least 75% of aggregate Board/committee meetings while serving . All incumbent directors attended the April 2024 Annual Meeting in person .
- Executive sessions: Non-management directors hold executive sessions at each regular Board meeting; Lead Director presides .
- Interlocks: During 2024, Talent & Compensation Committee members included Sagehorn; no member was an AGCO officer/employee, and none of AGCO’s executive officers served on a board where any AGCO director is an executive officer .
Fixed Compensation (Director)
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual cash retainer | $135,000 | Standard for non-employee directors . |
| Committee chair fees | $15,000 (most); $25,000 (Audit chair); $20,000 (T&C chair); $17,500 (Governance chair) | Not applicable to Sagehorn (not a chair) . |
| Additional retainer for serving on ≥3 committees | $6,000 | Sagehorn received a pro-rata portion after joining Finance in April 2024 . |
| 2024 Fees earned (Sagehorn) | $139,104 | Includes retainer and pro-rata multi-committee retainer . |
Performance Compensation (Director)
| Component | Grant Detail | Vesting/Restrictions | Valuation |
|---|---|---|---|
| Restricted Stock (annual director grant) | Granted April 25, 2024: 1,572 shares per director | Transfer restricted for 1 year (accelerates on Board departure) | $185,000 aggregate grant date fair value; Sagehorn received $185,000 . |
Directors do not receive performance-based equity (e.g., PSUs) at AGCO; director equity consists of time-based restricted stock with a 1-year transfer restriction .
Other Directorships & Interlocks
| Company | Role | Interlock / Conflict Notes |
|---|---|---|
| Chart Industries, Inc. | Director; Audit Chair; Compensation Committee member | AGCO discloses no compensation committee interlocks or insider participation; no AGCO executive serves as an executive officer of a company where an AGCO director serves on the board as an executive officer . |
Expertise & Qualifications
- Audit/financial expertise: Designated “audit committee financial expert”; extensive CFO tenure in a multinational manufacturer; enhances oversight of financial reporting, controls, and disclosure .
- M&A and strategy: Prior business development leadership at Oshkosh aligns with AGCO’s acquisitions and precision ag strategy .
- Risk oversight: As an Audit Committee member, participates in oversight of enterprise risk, cyber/information security, and technology risk per committee charter responsibilities .
Equity Ownership
| Holder | Beneficial Ownership (as of Mar 7, 2025) | Notes |
|---|---|---|
| David Sagehorn | 4,209 shares | Includes 1,572 restricted shares from the April 25, 2024 director grant; director grants carry a 1-year transfer restriction . |
| Director stock ownership guidelines | 5× annual retainer (for non-employee directors) | Company policy; individual compliance status not disclosed . |
| Hedging/pledging | Prohibited by policy (with a narrowed exception requested by a different director); no pledging by Sagehorn disclosed | Company-wide policy context; no pledging or hedging by Sagehorn disclosed in the proxy . |
Governance Assessment
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Strengths for investor confidence:
- Independent director with deep CFO pedigree and designated audit committee financial expert status, supporting strong audit quality and disclosure oversight .
- Broad committee engagement (Audit, Finance, Talent & Compensation) and cross-chair experience at another public company (Audit Chair at Chart), signaling high financial sophistication and governance engagement .
- Solid attendance and annual meeting participation; Board employs executive sessions at each regular meeting, reinforcing independent oversight .
- Director pay mix emphasizes equity via annual restricted stock grants; company maintains director ownership guidelines (5× retainer), compensation recovery policy, and anti-hedging/pledging policies, aligning incentives with shareholders .
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Potential risks/considerations:
- Workload: Multi-committee service at AGCO plus Audit Chair role at Chart increases time commitments; however, no attendance shortfall disclosed .
- No related-party transactions or pledging by Sagehorn disclosed; AGCO highlights a separate governance matter involving TAFE, but it does not implicate Sagehorn .
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Bottom line: Sagehorn’s profile is a net positive for board effectiveness—strong audit/finance oversight, independent status, and equity alignment with shareholders, with no disclosed conflicts or red flags in the latest proxy .
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