Bonnie Lind
ALBANY INTERNATIONAL CORP /DE/About Bonnie C. Lind
Bonnie C. Lind, age 66, has served on Albany International’s Board since 2024. She was Sr. Vice President, Chief Financial Officer and Treasurer of Neenah Inc. from its 2004 spin-off from Kimberly‑Clark until retiring in October 2020; earlier, she held progressively senior finance and operations roles at Kimberly‑Clark culminating as Assistant Treasurer. She holds a BBA in Finance with honors from the University of Georgia and currently chairs the Audit Committees at Hubbell Incorporated and Mission Produce, bringing deep finance and audit oversight expertise to AIN’s Audit and Compensation Committees .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Neenah Inc. | Sr. VP, CFO & Treasurer | 2004–Oct 2020 | Led finance post-spin; long-tenured CFO experience |
| Kimberly‑Clark Corporation | Various finance/operations roles; Assistant Treasurer | Pre‑2004 (dates not specified) | Progressive finance leadership culminating in Assistant Treasurer |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Hubbell Incorporated | Director | Current | Audit Committee Chair; Corporate Governance Committee member |
| Mission Produce | Director | Current | Audit Committee Chair; Nominating/Governance Committee member |
| US Silica | Director | Prior | Board service (committee details not disclosed) |
| Federal Signal | Director | Prior | Board service (committee details not disclosed) |
| Empire District Electric Company | Director | Prior | Board service (committee details not disclosed) |
Board Governance
- Committee assignments: Member, Audit Committee (appointed February 2024); Member, Compensation Committee; not a chair at AIN .
- Audit Committee activity: 9 meetings in 2024; overall attendance 96%; Ms. Lind joined the Committee in Feb 2024 (not part of 2023 attendance base; 2023 had 8 meetings with 100% attendance for members serving that year) .
- Independence and qualifications: Board determined all Audit Committee members, including Ms. Lind, are independent under NYSE and SEC Rule 10A‑3, financially literate, and “financial experts” as defined in Item 407 of Regulation S‑K .
- Audit oversight: Audit Committee’s 2024 report lists Ms. Lind as a member and affirms independence of KPMG and the Committee’s oversight of internal control and financial reporting .
- Director share ownership guidelines: Directors are expected to retain shares until ownership equals 3× the annual cash and stock retainer; meeting/per diem fees are $1,500/day for Company business beyond Board/Committee meetings .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Cash Retainer | $85,000 | Effective Jan 2024 |
| Audit Committee Chair | $22,000 | Not applicable to Ms. Lind (member) |
| Compensation Committee Chair | $15,000 | Not applicable to Ms. Lind (member) |
| Governance Committee Chair | $12,000 | Chair fee schedule |
| Audit Committee Member | $12,000 | Applicable to Ms. Lind |
| Compensation Committee Member | $7,500 | Applicable to Ms. Lind |
| Governance Committee Member | $7,000 | Member fee schedule |
| Annual Equity Grant (Class A stock) | $135,000 | Paid shortly after Annual Meeting; prorated for partial‑year service |
| Per diem for special work | $1,500/day | For Company business outside meetings |
| 2024 Director Compensation (Bonnie C. Lind) | Amount ($) |
|---|---|
| Earned/Paid in Cash | 80,875 |
| Stock Awards | 112,459 |
| Option Awards | — |
| Non‑equity Incentive Compensation | — |
| Deferred Comp Earnings | — |
| All Other Compensation | — |
| Total | 193,333 |
Directors’ equity is delivered as stock, not option grants; amounts are prorated for partial‑year service .
Performance Compensation
| Performance‑linked Element | Status/Detail |
|---|---|
| Nonequity Incentive Plan Compensation | Not paid to non‑employee directors (— in proxy table) |
| Stock Options | No option awards to directors (— in proxy table) |
| Performance Metrics (EBITDA/TSR/etc.) | Not tied to director pay; director equity is retainer‑based stock |
AIN’s non‑employee director compensation is structured as cash retainers and annual stock (with optional deferral), without performance‑based payouts, options, or PSU frameworks for directors .
Other Directorships & Interlocks
| Company | Relationship to AIN | Potential Interlock/Conflict Notes |
|---|---|---|
| Hubbell Incorporated | External public board | Ms. Lind chairs Audit; no AIN‑disclosed transactions with Hubbell; Audit Committee independence affirmed based on lack of transactions/relationships |
| Mission Produce | External public board | Ms. Lind chairs Audit; no AIN‑disclosed transactions with Mission Produce; Audit Committee independence affirmed based on lack of transactions/relationships |
| Prior boards (US Silica, Federal Signal, Empire District Electric) | Historical | No AIN‑disclosed related‑party exposure from prior roles |
Expertise & Qualifications
- Former public‑company CFO/Treasurer with industry experience in paper and manufacturing (Neenah; Kimberly‑Clark) .
- Current audit committee chair roles at two public companies; designated as “financial expert” on AIN’s Audit Committee; financially literate under NYSE standards .
- Senior leadership, public company board experience, finance/capital allocation skills highlighted in AIN’s director skills matrix .
Equity Ownership
| Metric | As of Mar 1, 2024 | As of Mar 1, 2025 |
|---|---|---|
| Class A Shares Beneficially Owned | 0 (less than 1%) | 1,266 (less than 1%) |
| Pledged Shares | None indicated (directors/officers report no pledged shares) | None indicated (directors/officers report no pledged shares) |
Director stock ownership guideline: retain shares until holdings equal 3× the annual cash plus stock retainer; based on $85,000 cash and $135,000 equity retainers, this implies an alignment target of approximately $660,000 in value when achieved (3 × [$85k + $135k]) .
Insider Filings & Trades
| Item | Status |
|---|---|
| Section 16(a) Compliance (2024) | All persons subject to reporting complied for year ended Dec 31, 2024 |
| Shares Pledged as Collateral | None indicated for directors/officers in ownership tables |
Compensation Committee Analysis (context for governance)
- Consultant: Pearl Meyer & Partners provided benchmarking underlying both director fee schedule (effective 2024) and broader compensation work; the consultant is retained by and reports to the Committee .
- Peer group used for NEO benchmarking includes diversified industrial/aerospace names (e.g., Teledyne, Curtiss‑Wright, Woodward, Hexcel, HEICO, BWX, Barnes, Kadant, Triumph, SPX, Graco, Mercury Systems), supporting comparability in governance oversight and pay benchmarking .
Governance Assessment
- Strengths: Independent director with deep CFO background; Audit and Compensation Committee member; Audit Committee “financial expert” designation; independence affirmed with no transactions/relationships impairing judgment; Audit Committee active (9 meetings in 2024) with strong attendance; rising ownership (from 0 to 1,266 shares YoY) supports alignment trajectory .
- Alignment: Director equity delivered in stock with a robust 3× retainer ownership guideline; optional deferral via RSU mechanics increases long‑term orientation; no pledging of shares reported, reducing alignment risk .
- Time/Commitment Watch: Concurrent audit chair roles at Hubbell and Mission Produce reflect high demand on expertise; while beneficial for oversight quality, investors should monitor aggregate commitments for potential capacity constraints; no AIN‑disclosed interlocks or related‑party ties with these companies .
- Compensation Quality: Standard non‑employee director structure without options or performance pay reduces pay‑for‑performance risk but places emphasis on equity retainer and ownership guideline for alignment; fees benchmarked externally via Pearl Meyer .
- RED FLAGS: None identified in AIN disclosures for Ms. Lind—no related‑party transactions, no pledged shares, independence affirmed, no option repricing or performance award anomalies for directors .