Cheryl Gordon Krongard
AIR LEASEAbout Cheryl Gordon Krongard
Independent director at Air Lease Corporation (AL) since December 2013; age 69. Former senior partner at Apollo Management (2002–2004) and CEO of Rothschild Asset Management (1994–2000), with extensive asset management, compensation, finance, and corporate governance expertise and prior airline industry board experience. Currently a private investor; no current public company directorships. Board service highlights include chairing the Leadership Development & Compensation Committee and serving on the Nominating & Corporate Governance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Apollo Management, L.P. | Senior Partner | Jan 2002–Dec 2004 | Senior investment leadership |
| Rothschild Asset Management | Chief Executive Officer | 1994–2000 | Led large asset manager; governance/finance expertise |
| Rothschild North America | Senior Managing Director; Director | 1990s (per bio) | Board roles at Rothschild NA, Rothschild AM, Rothschild AM BV, Rothschild Realty Inc.; Managing Member, Rothschild Recovery Fund |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Xerox Holdings Corporation | Director | 2017–May 2022 | Prior public company board |
| US Airways Group, Inc. | Director | 2003–Dec 2013 (merger with American Airlines Group) | Airline industry experience |
| Legg Mason, Inc. | Director | 2006–July 2017 | Asset management industry governance |
| Iowa State University Foundation | Lifetime Governor; Chair, Investment Committee | Elected 1997; service ongoing per bio | Nonprofit investment oversight |
| Iowa State University College of Business | Dean’s Advisory Council Member | Not specified | Academic advisory role |
| Other current public company directorships | — | — | None |
Board Governance
- Committees: Chair, Leadership Development & Compensation (LDC); Member, Nominating & Corporate Governance .
- Independence: Board determined Ms. Krongard is independent under NYSE rules; all LDC members meet additional compensation committee independence standards and SEC “non‑employee director” criteria .
- Attendance: Board held 11 meetings in 2024; director nominees had 100% attendance except two directors at 91% (specific names not identified). LDC held 7 meetings in 2024 with 100% attendance; 5 meetings in 2023 with 100% attendance .
- Compensation Committee practices: LDC retains an independent compensation consultant (Exequity LLP) for executive and non‑employee director compensation advice (retained in 2024 and 2023). No compensation committee interlocks or insider participation disclosed .
- Board effectiveness: Annual board and committee self‑evaluation led by the Lead Independent Director; 2024 focus areas included financing strategy amid elevated rates and risk management given geopolitical instability .
Fixed Compensation
| Component | Amount/Detail | Notes |
|---|---|---|
| Annual cash retainer (non‑employee directors) | $80,000 | Baseline cash retainer used for stock ownership guideline multiple |
| 2024 Fees Earned or Paid in Cash | $113,000 | Includes annual retainer, committee membership fees, any chair fees, and meeting fees |
| 2024 Total Director Compensation | $243,000 | Cash $113,000 + Stock awards $130,000 |
Performance Compensation
| Grant Type | Grant Date | Shares/Units | Grant Date Fair Value | Vesting | Performance Metrics |
|---|---|---|---|---|---|
| Annual Director RSUs | May 3, 2024 | 2,528 RSUs | $130,000 (at $51.41 per share) | Vest in full on May 3, 2025 | Time-based only; no performance metrics disclosed for director equity |
As of Dec 31, 2024, non‑employee directors held only vested RSUs; Ms. Krongard’s vested RSUs totaled 25,678 (includes accrued dividend equivalents for deferrals; fractional shares rounded) .
Other Directorships & Interlocks
- Current public company boards: None .
- Prior public company boards: Xerox Holdings (2017–May 2022); US Airways Group (2003–2013 merger); Legg Mason (2006–2017) .
- Compensation committee interlocks: None; no insider participation disclosed .
Expertise & Qualifications
- Asset management leadership (CEO of Rothschild AM; senior roles at Rothschild entities; senior partner at Apollo). Brings compensation, finance, and corporate governance experience; strategic planning and airline experience from prior public company board service .
Equity Ownership
| Metric | Detail |
|---|---|
| Beneficial ownership (Mar 4, 2024) | 49,534 shares of Class A Common Stock; percentage marked “*” (<1%) in company table |
| Vested RSUs held (Dec 31, 2024) | 25,678 (includes dividend equivalents for deferred awards; rounded) |
| Stock ownership guideline | 5x annual cash retainer ($80,000) = $400,000 target |
| Compliance status (Mar 7, 2025) | 32x retainer; $2,569,137 value (calculated under guidelines using closing price) — in compliance |
| Pledging/Hedging | Not disclosed in cited sections |
Governance Assessment
- Strengths: Independent director; chairs LDC with documented 100% committee attendance and use of an independent consultant; no interlocks; high ownership alignment at 32x guideline vs 5x requirement; history of responsiveness to shareholder feedback (committee reduced 2023 company performance factor from 188% to 147% and tightened 2024 metric rigor and weightings) .
- Potential watch items: Long tenure (on board since Dec 2013) can raise general concerns about director independence over time in some governance frameworks; however, AL’s board explicitly affirms independence and LDC-specific independence each year .
- No specific red flags identified in disclosed materials regarding attendance, related‑party transactions, interlocks, or director pay structure; director equity is time‑based RSUs, typical for non‑employee directors .