Tony Bashir Sarsam
Mission ProduceAbout Tony Bashir Sarsam
Tony Bashir Sarsam (age 63) is an independent Class I director of Mission Produce (AVO) since August 2023, with his current term running to the 2027 annual meeting. He is President & CEO and a director of SpartanNash (NASDAQ: SPTN) since 2020. He holds a B.S. in Chemical Engineering from Arizona State University and an M.S. in Management from Stanford University, and has prior CEO roles at Borden Dairy (2018–2020) and Ready Pac Foods (2013–2018) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| SpartanNash (NASDAQ: SPTN) | President & CEO; Director | 2020–present | Strategic operator across supply chain and retail; public company governance experience |
| Borden Dairy Company (private) | Chief Executive Officer | 2018–2020 | Led restructuring, reorganization, and sale |
| Ready Pac Foods (private) | Chief Executive Officer; Director | 2013–2018 (CEO); 2014–2017 (Director) | Grew convenience fresh foods; board governance |
| Nestlé USA Direct Store Delivery Company | President | Prior to 2013 | Distribution operations leadership |
| Dreyer’s (Nestlé) | EVP Sales & Operations | Prior to 2013 | Commercial and operations oversight |
| PepsiCo | Engineering/Finance/Sales leadership | Early career | Plant operations; finance; go-to-market strategy |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| SpartanNash (NASDAQ: SPTN) | Director | 2020–present | Public company board |
| Food Marketing Institute (non-profit) | Board member | Not disclosed | Industry advocacy |
| Arizona State University Foundation | Board member | Not disclosed | Academic foundation governance |
| Business Leaders for Michigan | Board member | Not disclosed | Regional economic leadership |
Board Governance
- Committee memberships: Member, Compensation Committee (appointed March 2024); not on Audit or Nominating and Corporate Governance .
- Independence: Determined independent by the Board; 75% of AVO’s Board is independent; all standing committees fully independent .
- Attendance: Board met 5 times in FY2024; all directors attended at least 75% of Board/committee meetings. Audit met 4x, Compensation 4x, Nominating 4x .
- Leadership structure: Independent Chairman (Stephen A. Beebe). No lead independent director needed given independent Chair .
Fixed Compensation
| Year | Cash Components | Amount ($) | Notes |
|---|---|---|---|
| 2024 | Fees earned/paid | 63,750 | Board retainer and committee fees; paid quarterly; committee fees paid only if the director attends meetings in that quarter |
| Program | Board cash retainer | 60,000 | Policy baseline |
| Program | Compensation Committee member retainer | 5,000 | Annual; chair retainer $10,000 (not applicable to Sarsam) |
| 2023 | Fees earned/paid | 25,000 | Prorated from August 14, 2023 appointment |
Performance Compensation
| Grant | Grant Date | Instrument | Shares (RSUs) | Grant Date Fair Value ($) | Vesting/Terms |
|---|---|---|---|---|---|
| Annual Director Grant | Apr 11, 2024 | RSU | 8,475 | 97,208 | Vests in full on earlier of one year from grant or next annual meeting; accelerates on change in control |
| Initial Appointment Grant | Aug 14, 2023 | RSU | 5,653 | 65,405 | Pro-rated initial RSUs per director policy; vesting as above |
Performance metrics tied to director equity: None (director RSUs are time-based; no PSU or TSR metrics for directors) .
Other Directorships & Interlocks
- Public company: SpartanNash Director and CEO. Sector adjacency to AVO (food distribution/retail) may provide valuable information flow and oversight insight. No related-party transactions with AVO reported under Item 404(a) at his appointment .
- Non-profit boards: Food Marketing Institute, Arizona State University Foundation, Business Leaders for Michigan .
Expertise & Qualifications
- Core competencies: senior leadership, operations, supply chain, commercial/marketing; public company governance experience .
- Education: B.S. Chemical Engineering (ASU); M.S. Management (Stanford) .
- Board rationale: Selected for CEO experience in adjacent industries, public company board/executive experience, and strong food industry knowledge .
Equity Ownership
| Item | Detail |
|---|---|
| Unvested director RSUs at FY2024 year-end | 8,475 unvested RSUs outstanding for Sarsam as of Oct 31, 2024 |
| Director stock ownership guidelines | 5x annual cash retainer ($300,000) required within 5 years of 2021 adoption or appointment |
| Compliance status (FY2024 measurement) | All non-employee directors met guidelines except Sarsam (appointed Aug 2023), who is progressing within the allowed timeframe |
| Hedging/short sales policy | Prohibited under Insider Trading Policy; clawback policy for executives (context) |
| Deferred compensation election | Director equity deferral plan available; Sarsam not listed among participants for 2024 |
Director Compensation Summary
| Year | Fees Earned ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| 2024 | 63,750 | 97,208 | 160,958 |
| 2023 | 25,000 | 65,405 | 90,405 |
Say-on-Pay & Shareholder Feedback
| Year | Say-on-Pay Result |
|---|---|
| 2024 | 97.34% of votes cast supported Say-on-Pay |
| 2025 | Votes: For 33,883,441; Against 8,926,300; Abstain 1,112,117; Broker non-votes 8,882,637 |
Shareholder Meeting Voting (2025)
| Proposal | For | Withheld/Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Elect Luis A. Gonzalez | 39,912,080 | 4,009,778 | — | 8,882,637 |
| Elect Bruce C. Taylor | 33,248,087 | 10,673,771 | — | 8,882,637 |
| Say-on-Pay | 33,883,441 | 8,926,300 | 1,112,117 | 8,882,637 |
| Ratify Deloitte (FY2025) | 51,691,772 | 1,104,137 | 8,586 | — |
Related Party Transactions (Conflict Screening)
- No related-party transactions involving Tony Sarsam requiring disclosure under Item 404(a) at appointment .
- Board independence affirmed for Sarsam; related-party exposure exists for other directors (Barnard/Gonzalez) but not for Sarsam .
Governance Assessment
- Positive signals: Independence; membership on a fully independent Compensation Committee; robust governance framework including separate Chair/CEO, executive sessions, and committee charters; strong Say-on-Pay support (97.34% in 2024) .
- Ownership alignment: Director equity RSUs and stringent stock ownership guidelines; Sarsam is within his compliance window and progressing toward the $300k guideline .
- Risk review and conflicts: No Item 404 related-party transactions for Sarsam; hedging prohibited; board/committee attendance threshold met; no red flags evident related to compensation anomalies or interlocks at AVO disclosed for Sarsam .
- RED FLAGS: None identified specific to Sarsam. Note that he has not yet met director ownership guidelines due to recency of appointment (within permitted 5-year window) .
Overall, Sarsam brings deep operating and distribution expertise with public company board experience, and currently serves on AVO’s Compensation Committee with no disclosed conflicts or attendance concerns—supportive of investor confidence in board effectiveness .