Michael McQuade
ALBANY INTERNATIONAL CORP /DE/About Michael McQuade
J. Michael McQuade, age 69, has served as an independent director of Albany International Corp. since 2020. He is Director of the Program on Emerging Technology, Scientific Advancement, and Global Policy at Harvard’s Belfer Center, and previously held senior R&D and operating roles across aerospace and industrials. He holds BS, MS, and PhD degrees in physics from Carnegie Mellon University, and brings deep expertise in research, technology development, and U.S. government advisory work relevant to Albany’s Engineered Composites segment .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| United Technologies Company | Senior Vice President, Science & Technology | More than a decade | Oversight of large-scale aerospace technology; highly relevant to AEC oversight |
| 3M | Vice President, Medical Business | Not disclosed | Healthcare technology and product management experience |
| Eastman Kodak | President, Health Imaging; Senior Vice President | Not disclosed | Operating leadership in imaging and materials |
| U.S. Dept. of Defense – Defense Innovation Board | Member | 2016–2021 | Advice on incorporating modern tech into DoD applications |
| President’s Council of Advisors on Science & Technology | Member | 2013–2018 | National science and technology policy advisory |
| Secretary of Energy’s Advisory Board | Member | 2008–2016 | Energy policy and technology oversight |
| Carnegie Mellon University | Strategic Advisor to the President; Vice President for Research | Not disclosed | Research strategy and institutional engagement |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Harvard Kennedy School – Belfer Center | Director, Program on Emerging Technology, Scientific Advancement, and Global Policy | Current | Technology policy leadership |
| Carnegie Mellon University | Board of Trustees (member) | Current | Governance role at major academic institution |
Board Governance
| Committee | Role | 2024 Meetings | Attendance | Notes |
|---|---|---|---|---|
| Compensation Committee | Chair | 4 | 100% | All members independent; no interlocks requiring SEC disclosure in 2024 |
| Governance Committee | Member | 4 | 100% | Reviews Board effectiveness, nominations, succession, sustainability oversight |
| Audit Committee | Not a member | 9 | — | All members independent and “financial experts” under Item 407; overall Audit attendance 96% |
- Independence: Board determined all directors except the CEO are independent; all committees comprised of independent directors .
- Board engagement: Board met 10 times in 2024; aggregate attendance 97% at Board and 96% at committees; all 2024 director candidates attended the 2024 Annual Meeting .
- Executive sessions: Private executive sessions for all independent directors at each regularly scheduled Board meeting .
Fixed Compensation
Director compensation framework (effective Jan 2024):
| Component | Amount |
|---|---|
| Annual Cash Retainer | $85,000 |
| Board Chair additional retainer | $100,000 |
| Vice Chair additional retainer | $35,000 |
| Audit Chair additional retainer | $22,000 |
| Compensation Chair additional retainer | $15,000 |
| Governance Chair additional retainer | $12,000 |
| Audit Committee member retainer | $12,000 |
| Compensation Committee member retainer | $7,500 |
| Governance Committee member retainer | $7,000 |
| Annual equity grant (Class A common stock) | $135,000 |
| Meeting/other fees | $1,500 per day for Company business at Chair/CEO/Committee Chair request |
Director 2024 compensation earned (reported):
| Metric | Amount |
|---|---|
| Earned/Paid in Cash ($) | $22,057 |
| Stock Awards ($) | $219,943 |
| Option Awards ($) | — (none) |
| Nonequity Incentive Plan Compensation ($) | — (none) |
| Deferred Compensation Earnings ($) | — |
| All Other Compensation ($) | — |
| Total ($) | $242,000 |
Notes:
- Directors may elect to receive up to $85,000 of the cash retainer in stock and may defer equity under the 2023 Incentive Plan via RSU deferrals, explaining variation from the $135,000 equity guideline .
- None of the Company’s current director nominees are eligible for a director pension (legacy plan applies only to specified pre‑2001 directors) .
Performance Compensation
- Directors do not receive performance‑based bonuses or option awards, and the 2024 table shows no non‑equity incentive compensation or options for McQuade .
- There are no disclosed performance metrics tied to director pay (e.g., TSR, revenue, ESG) in the director program .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlocks/Notes |
|---|---|---|---|
| None reported | — | — | No compensation committee interlocks or insider participation in 2024 requiring SEC disclosure |
Expertise & Qualifications
- Technology and product development leadership across aerospace and industrials; strategic government advisory experience (DoD, PCAST, DOE) .
- Advanced academic credentials in physics (BS/MS/PhD, Carnegie Mellon) .
- Skillset aligned to AEC oversight, innovation, and R&D governance .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % of Outstanding | Pledged? | As of |
|---|---|---|---|---|
| J. Michael McQuade | 10,236 | Less than 1% | None pledged | March 1, 2025 |
- Director stock ownership guidelines: retain until holdings equal to 3x annual cash and stock retainer; individual compliance status not disclosed .
SAY‑ON‑PAY & Shareholder Feedback
| Item | For | Against | Abstain | Broker Non‑Votes |
|---|---|---|---|---|
| Advisory vote on executive compensation (2025 AGM) | 27,722,765 | 897,837 | 8,957 | 632,812 |
Director election support (2025 AGM):
| Nominee | Votes For | Votes Withheld | Broker Non‑Votes |
|---|---|---|---|
| J. Michael McQuade | 26,288,688 | 2,340,871 | 632,812 |
Governance Assessment
-
Strengths
- Independent director; chairs Compensation Committee and serves on Governance; committees fully independent with clear charters and strong attendance (100% in 2024 for his committees) .
- No related‑party transactions since Jan 1, 2024; Compensation Committee reported no interlocks requiring disclosure in 2024 .
- Equity‑heavy director pay and ownership guidelines increase alignment; prohibition on hedging/pledging enhances investor confidence .
- Robust advisory background and aerospace R&D leadership bolster oversight of AEC strategy and innovation .
- Strong shareholder support: Say‑on‑pay passed decisively; McQuade’s re‑election received substantial “for” votes at 2025 AGM .
-
Watch items
- Equity grant magnitude varies based on elections (cash‑to‑stock conversions and RSU deferrals), making year‑over‑year comparability sensitive to director elections rather than performance .
- Individual compliance with director ownership guidelines is not disclosed; monitoring alignment over time may be warranted .
-
Compensation Committee practices
- Uses independent consultant Pearl Meyer for benchmarking; retained by and reports to the Committee, with primary contact being the Chair (McQuade) .
- Company maintains an Incentive Compensation Recovery Policy (clawback) for executive incentive pay adopted Aug 24, 2023; demonstrates oversight rigor by the Committee .