Kim Ann Mink
About Kim Ann Mink
Kim Ann Mink, Ph.D., is an independent director of Avient (AVNT), age 65, serving since 2017. She is the former Chairman, President and CEO of Innophos Holdings (2015–2020) and previously led major businesses at Dow Chemical and Rohm and Haas, bringing deep specialty chemicals and advanced materials expertise to Avient’s board . The Board has affirmatively determined she is independent under NYSE standards and Avient’s categorical criteria .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Innophos Holdings, Inc. | Chairman, President & CEO | 2015–2020 | Led performance-critical and nutritional ingredients producer; public company CEO experience |
| Dow Chemical Company | Business President, Elastomers, Electrical & Telecommunications | 2012–2015 | Oversaw global specialty businesses; technology and end-market expertise |
| ANGUS Chemical (Dow subsidiary) | President & CEO | 2009–2012 | Led performance materials business within Dow |
| Rohm and Haas (now Dow subsidiary) | Corporate VP & Global GM, Ion Exchange Resins; prior roles | >20 years | Senior leadership across technology-driven specialty materials |
External Roles
| Organization | Role | Current/Prior |
|---|---|---|
| Eastman Chemical Company | Director | Current |
| Air Liquide S.A. | Director | Current |
| Group14 Technologies | Director (non-public) | Current |
| Innophos Holdings, Inc. | Director | Former |
Board Governance
- Committee assignments: Audit Committee (member) and Environmental, Health & Safety (EH&S) Committee (member) . The Audit Committee met 7 times and EH&S met 2 times in 2024 .
- Financial expertise: Avient identifies Dr. Mink as an “audit committee financial expert” under SEC rules .
- Independence and attendance: The Board determined she is independent; each director attended at least 75% of aggregate Board and committee meetings in 2024, and all directors attended the annual shareholder meeting .
- Executive sessions: Independent directors regularly hold executive sessions without management, chaired by the Non-Executive Chairman .
| Governance Attribute | Detail |
|---|---|
| Audit Committee | Member; 7 meetings in 2024 |
| EH&S Committee | Member; 2 meetings in 2024 |
| Independence | Affirmed independent by Board |
| Audit Committee Financial Expert | Yes |
| Attendance | ≥75% of meetings; attended annual meeting |
Fixed Compensation
| Year | Fees Earned/Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| 2024 | 110,000 | 143,324 | 253,324 |
- Structure: Non‑employee directors received an annual retainer of $257,500 in 2024, comprised of $110,000 cash and targeted $147,500 in fully vested common shares; equity retainer increased to $155,000 effective Q3 2024, and chair retainers were modestly increased (Audit Chair to $25,000; others to $20,000) . No per‑meeting fees for scheduled meetings; unscheduled meetings: $2,000 cash (in‑person) / $1,000 telephonic .
Performance Compensation
- Director pay has no explicit performance‑based components (directors receive fully vested share grants rather than RSUs/PSUs) . For governance context on pay‑for‑performance oversight, the company’s 2024 executive annual incentive program used the following metrics and outcomes:
| Metric | FY 2024 Threshold | FY 2024 Target | FY 2024 Results | Payout % |
|---|---|---|---|---|
| Adjusted Operating Income (Consolidated) (70% weight) | $312.7mm | $330.0mm | $350.7mm | 200.0% |
| Working Capital as % of Sales (Consolidated) (20% weight) | 12.7% | 12.3% | 12.0% | 176.0% |
| Sustainability Objectives (10% weight) | Qualitative goals | Qualitative goals | Exceeded safety, engagement, waste; energy intensity not met | 150.0% |
| Total Attainment | — | — | — | 190.2% |
- Say‑on‑Pay signal: 2024 advisory vote approval exceeded 96%, indicating strong shareholder support for Avient’s compensation design .
Other Directorships & Interlocks
| Item | Detail |
|---|---|
| External public boards | Eastman Chemical; Air Liquide |
| Potential interlock | Eastman Chemical is included in Avient’s compensation peer group, used to assess market pay competitiveness . Dr. Mink is not on Avient’s Compensation Committee, which mitigates interlock risk . |
| Consultant independence | Compensation Committee retained Willis Towers Watson; no conflicts identified; consultant provided only comp‑related services in 2024 . |
Expertise & Qualifications
- Specialty chemicals and advanced materials leadership; former public‑company CEO (Innophos); deep operations, technology, and varied end‑market experience .
- Audit and financial literacy; designated audit committee financial expert .
- Global industry perspective from Dow/Rohm & Haas roles and Air Liquide board service .
Equity Ownership
| Measure | Amount |
|---|---|
| Beneficial ownership (shares) | 30,629 (includes Deferred Compensation Plan shares) |
| % of shares outstanding | <1% (based on 91,532,542 shares outstanding) |
| Fully vested deferred shares | 30,629 |
| Options/SARs exercisable within 60 days | None disclosed for director; “Right to Acquire” column blank for Mink |
| Director stock ownership guideline | 12,500 shares; comply within 5 years; retain 100% of shares earned until guideline met |
| Compliance status | All directors meet or are on track to meet guideline; Mink’s 30,629 exceeds requirement |
Governance Assessment
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Strengths
- Independent director with public‑company CEO experience and audit financial expert designation, supporting robust oversight of financial reporting and risk, including cybersecurity .
- Active on Audit and EH&S committees; committees met 7 and 2 times in 2024 respectively; Board‑level risk, ESG, and safety oversight is well‑defined .
- Strong alignment policies: director stock ownership guideline (12,500 shares), retention requirement until guideline met; Mink’s ownership above guideline .
- No related‑party transactions in 2024; Board maintains rigorous review policy for conflicts .
-
Watch items
- Eastman Chemical is in Avient’s compensation peer group while Dr. Mink serves on Eastman’s board; although she is not on Avient’s Compensation Committee (reducing direct influence), investors may monitor for perceived interlocks in executive pay benchmarking decisions .
- Multiple external boards can raise time‑commitment questions, though Avient reports ≥75% attendance and annual meeting participation for all directors in 2024 .
-
RED FLAGS
- None identified for 2024: no related‑party transactions; board independence affirmed; director compensation structure standard with emphasis on equity; no evidence of pledging or hedging for directors disclosed; Say‑on‑Pay support strong at >96% .