Andrea Redmond
Director at ALL
Board
About Andrea Redmond
Andrea Redmond (age 69) is an independent director of The Allstate Corporation, serving since 2010 (15 years of board tenure). She is a former Managing Director at Russell Reynolds Associates, where she co-led the CEO/board services practice and founded the global insurance practice; she currently works as an independent consultant in executive recruiting, succession planning, and human capital management . The Board has affirmatively determined her independence and explicitly reviewed tenure-related independence concerns, concluding that her independence has not been diminished by years of service; she recorded 100% attendance at Board and committee meetings in 2024 .
Past Roles
| Organization | Role | Tenure/Dates | Committees/Impact |
|---|---|---|---|
| Russell Reynolds Associates Inc. | Managing Director; Co‑Head, CEO/Board Services Practice; Founder/Leader, Global Insurance Practice; Member, Financial Services Practice | 1986–2007 | Built board/CEO search capabilities; assessed board risk oversight; deep insurance sector expertise |
| Independent Consultant | Executive recruiting, succession planning, human capital management | Not disclosed | Advises on leadership evaluation and governance practices |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| — | — | None disclosed | “Other Public Board Service: None” |
Board Governance
- Committee leadership and membership:
- Chair, Nominating, Governance and Social Responsibility Committee (NG&SR) .
- Member, Compensation and Human Capital Committee .
- NG&SR responsibilities include board nominations, independence determinations, director compensation review, and oversight of sustainability (public policy, political contributions, climate resilience); 5 meetings in 2024 .
- Compensation Committee oversees executive pay, succession planning, organizational health; 8 meetings in 2024 .
- Attendance and independence: 100% attendance in 2024; Board affirmed her independence despite >12 years tenure .
- Executive sessions: Independent directors hold executive sessions at every regular Board and committee meeting .
Fixed Compensation
| Year | Component | Amount | Notes |
|---|---|---|---|
| 2024 | Cash Fees (as paid) | $150,000 | Reflects NG&SR Chair role; Allstate uses annual cash retainer structure for non‑employee directors . |
| 2024 | Equity Retainer (RSUs grant-date fair value) | $175,058 | Annual RSU grant under the 2017 Equity Compensation Plan; RSUs include dividend equivalent rights . |
| 2025 | Cash Retainer (approved) | $135,000 | Board approved increase based on Pay Governance benchmarking . |
| 2025 | Equity Retainer (RSUs target value) | $190,000 | Board approved increase to align with peers . |
- RSU grant mechanics: Annual award equals a fixed value divided by closing price on June 1, rounded to nearest whole share; 2024 grant priced at $167.52 .
- Director retirement guideline: non‑employee director retirement at age 72 .
Performance Compensation
Directors do not receive performance‑based bonuses or PSUs; equity compensation is time‑based RSUs only. No options are listed for non‑employee directors in the proxy tables.
| Equity Award Feature | Term | Applicability |
|---|---|---|
| RSU conversion (granted ≥ Jun 1, 2016) | Earlier of third anniversary of grant or termination of Board service; optional deferral up to 10 years | All non‑employee directors, including Redmond |
| RSU conversion (granted 2008–2016) | Upon termination of Board service | All non‑employee directors |
| RSU conversion (granted < Sep 15, 2008) | One year after termination of Board service | All non‑employee directors |
Other Directorships & Interlocks
| Company | Role | Overlap with ALL stakeholders | Conflict note |
|---|---|---|---|
| None | — | — | No public company directorships disclosed; reduces interlock/conflict risk |
Expertise & Qualifications
- Core: Financial services (insurance leadership selection), succession planning and human capital, board/CEO evaluation, risk oversight .
- Governance/Sustainability: Leads NG&SR; oversight of governance best practices, shareholder engagement, public policy, climate resilience .
- Independence/Engagement: 100% attendance; independence affirmed despite long tenure .
Equity Ownership
| Item (as of dates noted) | Shares/Units | Value/Percent | Notes |
|---|---|---|---|
| Common shares beneficially owned (Mar 1, 2025) | 2,000 | <1% of class | None pledged as security . |
| RSUs distributable within 60 days (Mar 1, 2025) | 24,530 | — | Included in beneficial ownership table for timing window . |
| Total stock‑based ownership (shares + near‑term RSUs) | 26,530 | <1% of class | — |
| RSUs outstanding (Dec 31, 2024) | 38,450 | $7,412,776 (at $192.79) | 62.4× multiple of annual cash retainer including shares held outright . |
- Director stock ownership guideline: 6× cash retainer within 5 years; Redmond meets guideline (only Turner and Morris not yet, due to recent appointment) .
- Hedging/pledging: Company prohibits hedging; pledging is prohibited for directors absent an exception; ownership requirements exclude unvested PSAs/options (directors hold RSUs) .
Governance Assessment
- Board effectiveness: Redmond’s chairmanship of NG&SR places her at the center of director nominations, independence determinations, and sustainability/public policy oversight—key to governance quality and risk management .
- Alignment: Significant RSU holdings and compliance with ownership guidelines show strong “skin‑in‑the‑game”; no hedging/pledging and no related person transactions mitigate alignment concerns .
- Independence risk (tenure): Long tenure can raise independence questions; Allstate’s Board explicitly re‑evaluated and affirmed Redmond’s independence—reducing a common investor concern .
- Engagement signal: 100% attendance and leadership on a core committee (NG&SR) support board effectiveness; proactive shareholder engagement by the Board further bolsters confidence in governance processes .
- RED FLAGS: None disclosed related to related‑party transactions, pledging, hedging, low attendance, or director performance pay anomalies; note that long tenure is monitored and addressed by explicit independence review .
Director Compensation (Detail)
| Component (2024) | Amount | Structure/Terms |
|---|---|---|
| Annual Cash Fees | $150,000 | Paid quarterly; directors may elect receipt in common stock or defer into the Director Deferred Compensation Plan . |
| Equity (RSUs) | $175,058 | Fixed‑value annual RSU grant; dividend equivalents; grant sizing via closing price on June 1 (2024 price: $167.52) . |
| Total | $325,058 | — |
| 2025 Program Changes | Amount | Rationale |
|---|---|---|
| Cash Retainer | $135,000 | Pay Governance benchmarking; align with peers . |
| Equity Retainer (RSUs) | $190,000 | Pay Governance benchmarking; align with peers . |
- Deferred Compensation Plan: Directors may defer retainers into common share units or other indices; example disclosure shows Mr. Traquina with 7,519 common share units; Redmond’s deferral status not specifically disclosed .
Related Party Transactions and Policies
- No related person transactions identified since the beginning of 2024; NG&SR oversees related‑party policy and approvals .
- Communication channels and governance documents (Code of Conduct, independence standards) support ongoing oversight integrity .
Insider Trades
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