Patricia Verduin
About Patricia Verduin
Patricia Verduin, Ph.D., is an independent director of Avient Corporation and has served on the Board since 2019. She is 65 and is the retired Chief Technology Officer of Colgate-Palmolive, bringing deep experience in global R&D leadership, innovation, regulatory affairs, and M&A execution in consumer and food industries .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Colgate-Palmolive | Chief Technology Officer | 2011–2022 | Led global science, technology, regulatory, and innovation teams; technology and innovation strategy oversight . |
| Colgate-Palmolive | VP, Research & Development | 2007–2011 | Directed R&D portfolio in global consumer products . |
| Grocery Manufacturers Association | SVP & Chief Science Officer | 2006–2007 | Advanced industry regulatory/science agenda . |
| ConAgra (now Conagra Brands) | SVP, Product Quality & Development | 2002–2006 | Quality systems and product development leadership . |
| ConAgra (now Conagra Brands) | SVP, Research & Development, Grocery Products Development | 2000–2002 | R&D leadership across grocery products . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FMC Corporation | Director | Current | Public company directorship; relevant to specialty chemicals; Avient includes FMC in its compensation peer group . |
| Ingredion Incorporated | Director | Current | Public company directorship in specialty ingredients . |
| Monsanto | Director | Former | Prior public company board experience . |
Board Governance
- Independence: The Board affirmed Verduin meets NYSE independence standards and categorical standards; she has no material relationship with Avient beyond her directorship .
- Committees: Member, Governance & Corporate Responsibility Committee; Member, Environmental, Health & Safety Committee .
- Committee activity: In 2024 the Governance & Corporate Responsibility Committee met 2 times and the Environmental, Health & Safety Committee met 2 times; Board met 6 times .
- Attendance: In 2024 each director attended at least 75% of the aggregate Board and applicable committee meetings; all directors attended the annual meeting .
- Board practices: Independent committees (Audit, Compensation, Governance & Corporate Responsibility), majority voting policy, and regular executive sessions led by the Non‑Executive Chair .
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual cash retainer | $110,000 | Paid in quarterly installments; no regular meeting fees (unscheduled-only) . |
| Equity retainer (fully vested shares) | $143,324 | Quarterly grants of fully vested common shares; value determined via quarter-end average price . |
| Total | $253,324 | Standard non-employee director package; not a committee chair . |
Additional structural details:
- 2024 standard director package targeted $257,500 (cash $110,000; equity $147,500 target value), with equity retainer increased to $155,000 effective Q3 2024; chair retainers increased (not applicable to Verduin) .
- Quarterly fair market values used to determine share counts: $43.40 (808 shares), $43.65 (806), $50.32 (775), $40.86 (834) .
Performance Compensation
- No performance-based pay is disclosed for non-employee directors. Equity awards are fully vested common shares, not RSUs/PSUs with performance metrics; no option awards are shown for directors in 2024 .
Other Directorships & Interlocks
- Avient’s compensation peer group includes FMC Corporation; Verduin serves on FMC’s board. Interlock risk is mitigated as Avient’s Compensation Committee is composed of other independent directors and Verduin is not a member of the Compensation Committee .
- No related person transactions in 2024, reducing conflict risk .
Expertise & Qualifications
- Ph.D.; extensive leadership in science, technology, regulatory affairs, innovation, and product development across global consumer and food sectors; significant M&A involvement .
- Board-relevant skills: industry and technology expertise, corporate governance, sustainability oversight, international operations experience .
Equity Ownership
| Holder | Beneficial Shares | Shares Outstanding | Ownership % |
|---|---|---|---|
| Patricia Verduin | 21,624 | 91,532,542 | <0.1% (derived from disclosed figures) . |
Additional alignment details:
- Director stock ownership guideline: 12,500 shares; all directors either meet or are on track to meet the guideline. Verduin exceeds the guideline with 21,624 beneficially owned shares .
- Deferred shares: None reported for Verduin in the Deferred Compensation Plan .
Governance Assessment
- Strengths: Independent status; dual committee service in governance/ESG and EHS; documented attendance; robust director stock ownership guideline; emphasis on equity in director pay supporting alignment; no related-party transactions .
- Potential watchpoints: External board at FMC (a named Avient compensation peer) could present information-flow sensitivities; mitigated by her non-membership on Avient’s Compensation Committee and Avient’s use of independent consultants with no conflicts of interest .
- Investor confidence signals: Strong say‑on‑pay support in 2024 (>96% approval), indicating shareholder endorsement of Avient’s compensation governance framework .