Mark Murphy
ALBANY INTERNATIONAL CORP /DE/About Mark J. Murphy
Mark J. Murphy (age 57) has served on Albany International Corp.’s Board since 2019 and is classified as an independent director under NYSE standards. He is Chief Financial Officer of Micron Technology, Inc. (joined April 2022), and previously held senior finance and operating roles at Qorvo, Delphi, Praxair/MEMC, and served as a U.S. Marine Corps officer. His board-relevant credentials center on finance leadership at large public companies, international operations, and capital allocation; the Board identifies him as financially literate and an Audit Committee financial expert.
Past Roles
| Organization | Role | Tenure/Timing | Committees/Impact |
|---|---|---|---|
| Micron Technology, Inc. | Chief Financial Officer | Joined Apr 2022 (current) | Senior executive finance leadership at a large-cap public technology company; international footprint (China, India, Singapore, U.S.) |
| Qorvo, Inc. | Chief Financial Officer; also oversaw IT and corporate strategy | Jun 2016–Apr 2022 | Public-company CFO with strategy remit; exposure to complex supply chains and semis cycles |
| Delphi Automotive, PLC | EVP & Chief Financial Officer | Prior to Qorvo | Public auto-tech supplier CFO experience |
| Praxair, Inc. | President, U.S. Industrial Gases; President, Surface Technologies & Electronic Materials; Corporate Controller; President, Electronics division; VP Finance for Praxair Asia (Shanghai) | Prior roles | Mix of P&L and finance roles across industrials and Asia; operations and capital allocation experience |
| MEMC Electronic Materials, Inc. | Senior Vice President & CFO | Prior role | Semiconductors/materials finance leadership |
| U.S. Marine Corps | Officer | Early career | Leadership, discipline (relevant to risk oversight/culture) |
External Roles
| Organization | Capacity | Governance Relevance |
|---|---|---|
| Micron Technology, Inc. | Chief Financial Officer | Active public-company CFO role; time/attention considerations; no related-party transactions with AIN disclosed |
Board Governance
- Independence: The Board determined all directors other than the CEO are independent; Murphy serves on fully independent Audit and Governance Committees.
- Committees: Member, Audit Committee (all members deemed “financial experts”); Member, Governance Committee.
- Committee activity/attendance: Audit Committee met 9 times in 2024 (96% aggregate attendance); Governance Committee met 4 times (100% aggregate attendance).
- Board attendance: The Board met 10 times in 2024; aggregate director attendance was 97% at Board and 96% at committees.
- Leadership structure & engagement: Non-executive Chair; no Vice Chair; independent directors hold private executive sessions at each regularly scheduled Board meeting.
- Risk oversight: Audit Committee oversees financial reporting, internal controls, cyber risk; CFO and CEO review top enterprise risks with the Board quarterly.
Fixed Compensation (Director)
| Component | Structure / Amount | Notes |
|---|---|---|
| Annual Cash Retainer | $85,000 | Effective Jan 2024 |
| Committee Member Fees | Audit: $12,000; Compensation: $7,500; Governance: $7,000 | Per committee assignment |
| Committee Chair Fees | Audit Chair: $22,000; Compensation Chair: $15,000; Governance Chair: $12,000 | Not applicable to Murphy (not a chair) |
| Board Chair / Vice Chair | Chair: $100,000; Vice Chair: $35,000 | Not applicable to Murphy |
| Equity Grant | $135,000 in Class A common stock annually | Granted shortly after Annual Meeting; directors can defer |
| 2024 Earned (Murphy) | Cash $105,567; Stock $134,933; Total $240,500 | Individual line item from director comp table |
| Other | Meeting-day fee $1,500 (non-meeting Company business); No director pension eligibility among nominees | Policy & pension eligibility note |
- Ownership guidelines: Directors are expected to retain shares until holdings equal three times the annual cash and stock retainer.
- Anti-hedging/pledging: Prohibited under Company policy for officers, directors, employees.
Performance Compensation (Director)
- Structure: Non-employee directors do not receive performance-based incentive metrics; equity is awarded as time-based stock (with optional deferral). No options are granted.
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards | None listed for Murphy in the director nominees table. |
| Committee interlocks | Compensation Committee disclosed no interlocks/insider participation in 2024; Murphy is not a member of the Compensation Committee. |
| Related-party transactions | None involving directors, director nominees, executive officers, or 5% holders since Jan 1, 2024. |
Expertise & Qualifications
- Financial expertise: Audit Committee designated all members, including Murphy, as “financial experts” (Item 407 Reg S-K).
- Domain experience: Senior finance leadership in semiconductors and diversified industrials; P&L exposure; international operations in Asia; corporate strategy and IT oversight.
- Governance contributions: Service on Audit and Governance aligns with his finance and operational background; Governance Committee also reviews succession and sustainability strategy.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding |
|---|---|---|
| Mark J. Murphy | 10,597 | <1% (approx. 0.03% based on 31,097,425 shares outstanding) |
| Notes | No pledging reported for directors/officers group; address of record c/o AIN HQ |
Insider Trades
- Section 16(a) compliance: The Company reports all directors and officers were in compliance with beneficial ownership reporting requirements for 2024. (Individual Form 4 transaction details are not presented in the proxy.)
Compensation Structure Analysis (Signals)
- Mix emphasizes equity retainer ($135,000 stock; time-based) plus cash retainer/committee fees; no stock options; aligns with governance best practice for director pay.
- Directors may elect to receive additional retainer in stock and can defer equity; supports longer-term alignment.
- Anti-hedging/pledging policy and ownership guidelines strengthen alignment; no related-party transactions disclosed.
Say-on-Pay & Shareholder Feedback (Context)
- 2024 say-on-pay approval: 93.88% of votes cast supported executive compensation, indicating generally positive investor sentiment on pay practices.
Potential Conflicts and Red Flags
- Related-party/transactions: None disclosed for 2024 (mitigates conflict risk).
- Overboarding/time commitment: Company Corporate Governance Guidelines include an overboarding policy; Murphy concurrently serves as Micron’s CFO (monitor time demands; no issues disclosed).
- Hedging/pledging: Prohibited; no pledges noted for directors/officers.
- Attendance/engagement: Board/committee aggregates of 97%/96% in 2024; Audit (9 meetings, 96%); Governance (4 meetings, 100%).
Governance Assessment
- Strengths: Independent director with deep CFO experience; Audit financial expert; service on Audit and Governance aligns with expertise; strong ownership alignment mechanisms (guidelines, anti-hedging/pledging); no related-party transactions.
- Watch items: Active CFO of a major public company while serving on AIN’s Audit and Governance Committees—monitor ongoing capacity/overboarding considerations and meeting attendance (no current issues reported).
Appendix: Committee Assignments Snapshot (2025 Nominees Table)
| Director | Committees |
|---|---|
| Mark J. Murphy | Audit; Governance |