Obed Louissaint
AptivAbout Obed Louissaint
Obed D. Louissaint is Executive Vice President and Chief People Officer at Aptiv (APTV), in role since January 1, 2023, after more than two decades at IBM leading transformation, culture, and technical talent initiatives. He holds a bachelor’s degree in Industrial and Labor Relations from Cornell University; he was 43 as of Aptiv’s FY2022 10-K disclosure and previously served as IBM’s SVP of Transformation & Culture (2020–2022) . Company performance during his tenure included record adjusted operating income ($2.4B) and margin expansion to 12.0% in 2024, alongside strong cash generation ($2.4B CFFO) and portfolio moves (Motional ownership restructuring), though the 2022–2024 relative TSR ranked at the 21st percentile (0% payout on the TSR metric) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| IBM | SVP, Transformation & Culture | 2020–2022 | Led culture, leadership, learning, DEI, talent acquisition/management, and employee experience to drive growth and inclusion . |
| IBM | VP, Talent, Watson Health & Employee Experience | 2019–2020 | Talent and employee experience leadership for Watson Health . |
| IBM | VP, HR, IBM Watson/Watson Health/Research/Technical Talent & Corporate | 2015–2020 | Built technical talent capabilities, workforce strategy across multiple advanced tech units . |
| IBM | Various HR leadership roles | 2001–2015 | Progressive global HR leadership across geographies and business units . |
| Student Agencies, Inc. | President | Not disclosed | Early leadership role prior to IBM . |
External Roles
| Organization | Role | Years |
|---|---|---|
| National Action Council for Minorities in Engineering (NACME) | Chair | Not disclosed |
| U.S. Department of Labor Advisory Committee on Apprenticeship | Member | Not disclosed |
| Executive Leadership Council (ELC) | Member | Not disclosed |
Fixed Compensation
Multi-year compensation (reported):
| Metric (USD) | 2023 | 2024 |
|---|---|---|
| Salary | $750,000 | $750,000 |
| Bonus | $2,000,000 (sign-on/one-time) | — |
| Stock Awards (grant-date fair value) | $11,139,181 | $3,652,545 |
| Non-Equity Incentive Plan Compensation | $750,000 | $847,500 |
| All Other Compensation | $82,190 | $107,759 |
| Total | $14,721,371 | $5,357,804 |
Additional fixed/benefit details:
- Deferred compensation: executive contributions $41,563; registrant contributions $66,981; balance $176,886 (2024) .
- Perquisites (2024): “Other” $16,273 (commuter benefits and executive financial services) .
Performance Compensation
Annual incentive structure and 2024 outcomes (enterprise-level metrics for Louissaint):
| Metric | Weight | Target | Actual Result | Payout Factor | Notes/Vesting |
|---|---|---|---|---|---|
| Adjusted Operating Income (OI) | 30% | $1,978M | $2,128M | 114% | Annual cash AIP; pays after year-end . |
| Cash Flow Before Financing (CFBF) | 30% | $1,148M | $1,647M | 200% | Total Aptiv metric . |
| Growth Over Market (GOM) | 15% | 5.4% | 0.6% | 0% | |
| Strategic Results Metric | 25% | Qualitative | Progress vs strategic goals | 75% | Emphasis on leadership depth, software/AI skills, adjacent markets . |
| Total AIP Payout Factor | — | — | — | 113% | Louissaint payout: $847,500 on $750,000 target . |
Long-term incentives (structure and key terms):
- Annual LTI mix: 60% performance-based RSUs (PBRSUs) and 40% time-based RSUs (TBRSUs) .
- 2024 PBRSU metrics (three-year, 0–200% payout): Average RONA (33.3%), Cumulative Net Income (33.3%), Relative TSR vs Russell 3000 Auto Parts (33.3%); vests 12/31/2026, settles early 2027 .
- 2022–2024 PBRSU cycle result (context): total weighted performance 63% of target; TSR at 21st percentile drove 0% on TSR; note Louissaint did not hold 2022 grants (joined 2023) .
2024 grants to Louissaint:
- Time-based RSUs: 17,360 units; grant-date fair value $1,367,447; vest ratably on 2/28/2025, 2/28/2026, 2/28/2027 .
- Performance-based RSUs: 6,510 target units (26,041 max); grant-date fair value $2,285,098; performance period 1/1/2024–12/31/2026; settle early 2027 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (2/28/2025) | 30,258 APTV shares; less than 1% of class . |
| Unvested TBRSUs at 12/31/2024 | 22,649 (2/28/2023 grant), 6,795 (2/28/2023 grant), 17,360 (2/28/2024 grant); market values $1,369,812; $410,962; $1,049,933 at $60.48 . |
| Unearned PBRSUs at 12/31/2024 (maximum) | 30,576 (2023–2025), 52,082 (2024–2026); market values $1,849,236; $3,149,919 at $60.48 . |
| Shares vested in 2024 | 26,046; value realized $1,864,789 . |
| Ownership guidelines | 3x base salary for Section 16 officers; all NEOs at/above or on track as of 2/14/2025 . |
| Hedging/Pledging | Prohibited (no hedging/no pledging policy) . |
Vesting calendar (selected):
- TBRSUs generally vest in three equal annual installments starting first anniversary of grant (e.g., 2/28/2023 grant vests 2/28/2024, 2/28/2025, 2/28/2026; 2/28/2024 grant vests 2/28/2025, 2/28/2026, 2/28/2027) .
- PBRSUs settle after performance period (2023–2025 settle early 2026; 2024–2026 settle early 2027) .
Employment Terms
| Provision | Terms |
|---|---|
| Start date / tenure | Joined Aptiv 1/1/2023; EVP & Chief People Officer . |
| Severance (non-CIC) | Eligible for severance equal to 1x base salary; COBRA subsidy up to 18 months; total illustrative value $1,778,102 under “involuntary (not for cause) or for good reason” scenario . |
| Change-in-Control (CIC) | Double-trigger; 2x base salary + 2x target bonus; 24 months COBRA; equity: time-based RSUs vest; PBRSUs at greater of earned-to-date or 100% if no replacement award; illustrative total $9,129,215 upon CIC+termination . |
| Non-compete / non-solicit | 12-month non-compete; 24-month non-solicit; confidentiality; forfeiture for violations . |
| Clawback | NYSE/SEC-compliant clawback for incentive comp (3-year lookback) plus supplemental policy for misconduct/fraud . |
| Deferred comp | Eligible; 2024 executive contributions $41,563; company contributions $66,981; balance $176,886 . |
| Tax gross-ups | No excise tax gross-ups for officers (standard expatriate/relocation policies only) . |
Investment Implications
- Pay-for-performance alignment: Annual bonus ties to OI, cash flow, and strategic goals; 2024 payout at 113% of target indicates above-target operating/cash execution despite GOM shortfall (0% component payout) . Long-term incentives hinge on multi-year RONA/NI and relative TSR, with TSR explicitly disciplining payouts (0% TSR component in 2022–2024 cycle) .
- Near-term vesting/supply dynamics: Time-based tranches (notably 2023/2024 grants) vest annually through 2026/2027; PBRSU cliffs in early 2026 and early 2027 may create deliverable share events, though hedging/pledging is prohibited and ownership guidelines constrain immediate dispositions .
- Retention and change-in-control economics: Severance multiple is modest (1x base) outside CIC, but CIC protection (2x base + 2x target bonus plus equity vesting) provides meaningful retention/negotiation leverage in strategic transactions; illustrative CIC+termination package ~$9.1M .
- Governance and risk: No related-party transactions; robust clawback and restrictive covenants; broad shareholder support for NEO compensation (90% Say-on-Pay in 2024) lowers governance overhang risk .
- Strategic execution exposure: 2025 incentive plan changes pivot to Revenue, Operating Income, and Strategic Results, and LTI updates emphasize ROIC and software/adjacent revenue, aligning human-capital leadership (Louissaint’s remit) with Aptiv’s broader software and diversification strategy .