Ogi Redzic
ASSURANTAbout Ogi Redzic
Independent director since November 2019; age 54 (2025). Serves on the Finance and Risk Committee and the Information Technology Committee; the Board has affirmatively determined he is independent under NYSE standards. Senior technology and digital executive with AI governance expertise; currently Chief Digital Officer and SVP at Caterpillar Inc. (2018–present). No other public company boards disclosed.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Caterpillar Inc. | Chief Digital Officer and SVP | 2018–Present | Oversight of Cat Digital (connectivity, enterprise data, analytics/AI, eCommerce, digital marketing) |
| Renault-Nissan Alliance | SVP, Connected Vehicles and Mobility Services | 2016–2018 | Auto industry connected vehicle leadership |
| Nokia HERE | Various automotive executive roles | 2012–2016 | Digital maps/auto tech roles |
| NAVTEQ | Director, Product Mgmt & VP, BD and Sales, APAC | 2006–2012 | APAC leadership; product and BD |
| PCTEL, Inc. | VP, Product Management & BD | 2002–2006 | Wireless tech product/BD |
| cyberPIXIE | VP, Technology | 2000–2002 | Technology leadership |
| Motorola, Inc. | Product Manager | 1996–2000 | Product management |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Caterpillar Gen AI Governance Board | Member | Current | AI governance oversight |
| Microsoft Technology Advisory Board | Member | Current | Technology oversight/advisory |
| Salesforce AI Advisory Board | Member | Current | AI oversight/advisory |
Board Governance
- Committees: Member, Finance and Risk Committee (capital/liquidity, investments, ERM focus; all members independent); Member, Information Technology Committee (IT strategy, cybersecurity, AI planning/strategy; all members independent).
- Independence: Board determined Redzic and all committee members are independent; annual review found ordinary-course transactions immaterial and not affecting independence; Company owns immaterial amounts of publicly-traded bonds of companies with which Redzic is affiliated.
- Attendance/Engagement: All directors attended at least 75% of combined Board and committee meetings in 2024; all directors attended the 2024 Annual Meeting. Board met 8 times; Audit 11; Compensation and Talent 6; Finance and Risk 5; Information Technology 4; Nominating and Corporate Governance 5. Executive sessions of independent directors generally at each Board and committee meeting.
- Tenure: 6 years of service as of 2025 (Director since Nov 2019).
- Chair roles context: IT Committee chaired by Harriet Edelman; Finance and Risk Committee chaired by Debra J. Perry (Redzic is not a chair).
Fixed Compensation
| Component | FY 2023 | FY 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | 105,000 | 110,000 |
| All Other Compensation ($) | 100 | 500 |
- Standard non-management director annual cash retainer: $110,000; additional annual retainers only for Board/committee chairs (Audit $30k; Compensation and Talent $25k; Finance and Risk $25k; IT $20k; Nominating and Corporate Governance $20k). Cash amounts may be deferred under the ADC Plan; no Company contributions or preferential earnings.
Performance Compensation
| Equity Element | Grant Value | Vesting | Change-in-Control | Settlement | Dividends |
|---|---|---|---|---|---|
| Director RSUs (annual) | $160,000 grant-date fair value | Vests in 3 equal annual installments over 3 years | Vests in full upon change in control or retirement after age 55 with ≥5 consecutive years of Board service | Settlement deferred until separation from the Board | Dividend equivalents accrue and are paid in cash upon separation |
- Initial RSU grant of $160,000 on date first becoming a director (subject to timing window); annual RSU grant of $160,000 the day after each annual meeting. Annual cap on director compensation (cash + equity) is $750,000, or $850,000 under extraordinary circumstances as determined by the Board.
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Public company boards | None disclosed for Redzic. |
| Ordinary-course relationships | Company holds immaterial amounts of publicly-traded bonds of companies where Redzic is an officer/director; Board deemed no material transactions and maintained independence. |
| Related person transactions | None requiring disclosure in 2024; policy requires review/approval for transactions ≥$120,000 with related persons; no director participates in approval of a transaction in which they are a related person. |
Expertise & Qualifications
- Corporate Governance & Sustainability; service on internal/advisory boards (Caterpillar Gen AI governance; Microsoft Technology Advisory Board; Salesforce AI Advisory Board).
- Industry: Deep knowledge of connected vehicles; leadership roles in equipment manufacturing and automotive sectors.
- Global leadership: Managed global high-tech engineering/product/operations teams across three continents.
- Technology/AI: Overall responsibility for Cat Digital; expertise in AI governance and in launching AI-backed products.
- Consumer/Marketing: Oversight of digital customer/dealer-facing products; responsibility for marketing/brand at a global equipment manufacturer.
Equity Ownership
| As-of Date | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Feb 14, 2025 | 4,522 | <1% | Includes vested RSUs and RSUs vesting within 60 days (settlement deferred until Board separation) |
| Directors’ stock ownership guideline | 5× annual base cash retainer (market value) | All non-employee directors and NEOs were in compliance as of Dec 31, 2024 (subject to five-year transition) |
- As of Dec 31, 2024, each director (except specific listed exceptions) held 2,065 unvested RSUs; Redzic was not listed as an exception.
Governance Assessment
- Alignment: Independent status, dual committee memberships (Finance & Risk; IT), and AI/cyber oversight are well-aligned with Assurant’s risk, technology, and digital strategy—committees are fully independent.
- Engagement: Met minimum attendance expectations; participated in an active Board schedule with frequent executive sessions of independent directors, supporting robust oversight.
- Pay structure: Cash retainer stable; equity grants are time-vested RSUs (no performance metrics), with deferred settlement, which promotes longer-term alignment; however, director RSUs vest upon change in control—a standard feature but can diminish retention incentives in a transaction context.
- Ownership: Beneficial ownership reported at 4,522 shares; Company confirms all directors comply with stock ownership guidelines (counts vested/unvested RSUs, excludes unearned PSUs), improving alignment.
- Conflicts: No related-person transactions requiring disclosure; ordinary-course relationships assessed as immaterial; independence maintained.
- Compensation governance context: Independent consultant (Pearl Meyer) supports director/executive compensation; no committee interlocks; strong say-on-pay support (≈96% in 2024) indicates investor confidence in pay practices.
RED FLAGS: None disclosed for related-party transactions, hedging/pledging is prohibited for directors under insider trading policy; change-in-control vesting for director RSUs exists, but no problematic tax gross-ups or option repricing features noted.