Eric Etchart
About Eric P. Etchart
Eric P. Etchart (age 68) has served as an independent director of Alamo Group Inc. since August 2015. He is a former President of Manitowoc Crane Group (2007–2015) and Senior Vice President, Business Development at The Manitowoc Company (2015–retired January 2016), with earlier leadership roles at Potain S.A. before its acquisition by Manitowoc in 2001 . He holds ESG-focused credentials, including Diligent Climate Leadership Certification (2022) and an ESG Leadership Certificate (2023), and is an NACD Board Leadership Fellow . In 2024 he attended 100% of Board and applicable committee meetings; the Board classifies him as independent under NYSE standards and company guidelines .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Manitowoc Company, Inc. | Senior Vice President, Business Development | 2015–Jan 2016 | Executive leadership; strategy/business development |
| Manitowoc Crane Group | President | 2007–2015 | Global manufacturing leadership; finance/marketing expertise |
| Potain S.A. | Various management positions | Pre-2001 (acquired by Manitowoc in 2001) | International operations; tower cranes |
External Roles
| Company | Role | Since | Committees/Role |
|---|---|---|---|
| Graco Inc. | Director | 2010 | Audit Committee; Governance Committee |
| WD-40 Company | Director; Board Chair | Director since Dec 2016; Board Chair since Dec 2024 | Corporate Governance Committee; Finance Committee |
Board Governance
- Committee assignments (as of the May 8, 2025 annual meeting): Compensation Committee (member); Nominating/Corporate Governance Committee (member); not a member of the Audit Committee .
- Meetings held in 2024: Compensation (4); Audit (4); Nominating/Corporate Governance (3) .
- Attendance: 100% of Board and applicable committee meetings in 2024 (excluding one new director who joined in Dec 2024) .
- Independence: Board determined all directors except the then-CEO are independent under NYSE standards and company guidelines .
- Leadership: Independent Board Chair structure; Richard W. Parod serves as Independent Board Chair .
- Executive sessions: Regularly scheduled non-management executive sessions at each Board and committee meeting .
- Committee oversight responsibilities: Compensation (exec pay, equity plans, director pay, ownership compliance), Audit (financial reporting, controls, auditor oversight, cybersecurity risk), Nominating/Corporate Governance (board composition, governance policies, sustainability oversight) .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Option Awards ($) | Stock Awards ($) | All Other Comp ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | 93,000 | — | 125,111 | — | 218,111 |
- Director cash retainer: $80,000 annually; Chair retainers: Board Chair +$80,000; Audit Chair +$18,000; Compensation Chair +$13,000; Nominating/Corporate Governance Chair +$13,000; reasonable expenses reimbursed .
Performance Compensation
| Element | Detail | Notes |
|---|---|---|
| Equity type | Restricted stock (annual director grant) | No director stock options outstanding as of 12/31/2024 |
| 2024 grant fair value | $125,111 | General director grant date: May 3, 2024; market price $193.97 on grant date |
| Unvested RS outstanding | 645 shares as of 12/31/2024 | Applicable to each non-employee director serving in 2024 (exceptions noted for new appointees) |
| Performance metrics | None disclosed for director equity awards | Director equity is described as restricted stock; no director performance metrics identified |
Other Directorships & Interlocks
| Company | Role | Potential Interlocks/Conflicts |
|---|---|---|
| Graco Inc. | Director; Audit and Governance Committees | No compensation committee interlocks disclosed by ALG; all members of ALG’s Compensation Committee are independent |
| WD-40 Company | Director; Board Chair; Governance and Finance Committees | No related-party transactions involving ALG directors reported for 2024 |
Expertise & Qualifications
- Skills matrix indicates strengths in Financial Expertise; International Experience; Strategic Planning & Execution; Corporate Governance; Capital Goods Manufacturing/Supply Chain; Mergers & Acquisitions; Organizational Development & Succession Planning .
- ESG credentials: Diligent Climate Leadership Certification (2022) and ESG Leadership Certificate (2023); NACD Board Leadership Fellow .
Equity Ownership
| Item | Amount/Status |
|---|---|
| Total beneficial ownership | 11,106 shares as of Feb 21, 2025 |
| Percent of class | <1% (asterisk per table legend) |
| Unvested restricted stock (voting/dividends) | 645 shares included in beneficial ownership |
| Stock options | None outstanding as a director |
| Pledging/Hedging | Prohibited for directors by policy |
| Ownership guideline | Outside Directors: 5x annual cash retainer |
| Compliance status | All directors have met requirements or are within the 5-year compliance window as of the Record Date |
Governance Assessment
-
Positives:
- Independent director with 100% meeting attendance in 2024, signaling strong engagement .
- Serves on Compensation and Nominating/Corporate Governance committees—key levers for pay-for-performance, board composition, and sustainability oversight .
- No related-party transactions reported in 2024; Compensation Committee interlocks absent; Board prohibits hedging/pledging by directors—reducing alignment risks .
- Meaningful ownership with unvested RS and a stringent 5x retainer ownership guideline supports alignment with shareholders .
-
Watch items:
- Board service load: ALG policy caps directors at three public company boards (including ALG); Etchart serves on Graco and WD-40 in addition to ALG, effectively at the cap; increased obligations as WD-40 Board Chair could elevate time-commitment risk .
- Not an Audit Committee member, so financial reporting/cyber risk oversight flows through peers; however, all Audit members are financially literate “audit committee financial experts” per NYSE standards .
- Director equity is restricted stock; no performance-conditioned director equity disclosed (less “at-risk” than PSU-style structures, though common for directors) .