Kathy Savitt
About Kathy Savitt
Independent director since November 2024; currently a General Partner at Perch Partners, LLC (since January 2025). Prior roles include President & Chief Business Officer at Boom Supersonic (2020–2024), Chief Marketing & Media Officer at Yahoo (2012–2015), senior leadership roles at Amazon (2002–2006) and American Eagle Outfitters (2009–2012). Former founder/CEO of Lockerz and Co‑Founder/President at MWW/Savitt; prior public board service at Volta Charging (Lead Independent Director, then Chair, 2018–2023), Alaska Airlines (2014–2017), and Build‑A‑Bear Workshop (2009–2011). BA, Cornell University .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Boom Supersonic | President & Chief Business Officer | 2020–2024 | Senior operating executive |
| Yahoo | Chief Marketing & Media Officer | 2012–2015 | Corporate leadership |
| Amazon | Senior leadership in marketing | 2002–2006 | Corporate leadership |
| American Eagle Outfitters | Senior leadership in marketing | 2009–2012 | Corporate leadership |
| Lockerz | Founder & CEO | Prior to 2012 | Entrepreneurial leadership |
| MWW/Savitt (MWW Group) | Co‑Founder & President | Prior to 2012 | Communications leadership |
| Perch Partners, LLC | General Partner | Jan 2025–Present | Growth revenue/marketing advisory |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Volta Charging (NYSE: VLTA) | Director; Chairperson (post‑IPO) | 2018–2023 | Lead Independent Director; Chair until sale in 2023 |
| Alaska Airlines (NYSE: ALK) | Director | 2014–2017 | Board oversight |
| Build‑A‑Bear Workshop (NYSE: BBW) | Director | 2009–2011 | Board oversight |
Board Governance
- Independence: Board determined Ms. Savitt is independent under Nasdaq/SEC rules; audit committee must be comprised solely of independent directors; she serves on the audit committee .
- Committee assignments: Audit Committee member alongside Pierre Weinstein and Nazim Cetin (chair); committee meets at least quarterly; reviews related‑party transactions and IPO compliance .
- Board structure: BACQ board is classified into three classes; Ms. Savitt is in the third class (term expires at the third annual general meeting). Prior to closing of the initial business combination, only Class B holders vote to appoint/remove directors, a “controlled company” feature that can constrain shareholder influence .
- Attendance: Not disclosed in available filings; no annual meeting held yet (SPAC) .
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual cash retainer | None paid to directors to date | SPAC directors/officers have not received cash compensation |
| Committee membership fees | None paid to date | No committee fees disclosed |
| Committee chair fees | N/A for Savitt (not chair) | Audit chair is Cetin |
| Meeting fees | None paid to date | No meeting fees disclosed |
| Reimbursements | Permitted | Out‑of‑pocket expense reimbursement allowed |
Performance Compensation
| Metric/Vehicle | Terms | Notes |
|---|---|---|
| Equity awards (RSUs/Options) | None disclosed for directors | No equity grants to directors disclosed pre‑business combination |
| Transaction‑linked fees | Permitted | Consulting/success/finder fees to sponsor/affiliates permitted in connection with business combination; if paid, from working capital |
| Clawback policy | Committee role anticipated | Compensation committee charter contemplates Rule 10D‑1 clawback oversight if applicable post‑listing |
Other Directorships & Interlocks
| Company | Relationship to BACQ | Potential Interlock/Conflict |
|---|---|---|
| Volta Charging (VLTA) | Former director/chair | No direct BACQ relationship disclosed |
| Alaska Airlines (ALK) | Former director | No direct BACQ relationship disclosed |
| Build‑A‑Bear Workshop (BBW) | Former director | No direct BACQ relationship disclosed |
Expertise & Qualifications
- Deep operating credentials (technology, consumer, aviation) enhance board effectiveness in evaluating TMT and tech‑transformed targets aligned with BACQ’s mandate .
- Prior public board leadership (chair/lead independent) supports robust governance oversight and audit committee service .
- Marketing, brand, and growth expertise is relevant to post‑combination value creation and investor relations .
Equity Ownership
| Holder | Class A Shares | % of Class A | Class B Shares | % of Class B | % of Outstanding Ordinary Shares |
|---|---|---|---|---|---|
| Kathy Savitt | 0 | 0.0% | 0 | 0.0% | 0.0% |
Notes: Outstanding shares as of record date were 25,425,000 Class A and 8,333,333 Class B; table indicates directors’ beneficial ownership; Ms. Savitt held none as of the record date .
Governance Assessment
- Strengths
- Independent audit committee membership; quarterly meeting cadence; audit committee empowered to review related‑party transactions and IPO compliance, providing investor‑confidence safeguards .
- Extensive prior public board leadership (including chair roles) and multi‑sector operating background support oversight quality and strategic evaluation of targets .
- Risks/RED FLAGS
- Zero share ownership reduces “skin‑in‑the‑game” alignment for a SPAC director; beneficial ownership table shows no holdings as of the record date (0.0%) .
- Controlled voting structure pre‑business combination: only Class B (founder) shares can appoint/remove directors, potentially limiting independence in practice and minority shareholder influence until the combination closes .
- Corporate opportunity renunciation and multiple fiduciary/contractual obligations across sponsor/affiliates in SPAC structure can create perceived conflicts; Audit Committee review is a mitigating control but requires vigilant enforcement .
- Sponsor/affiliate involvement in financing and support agreements (e.g., Sponsor Support Agreement; affiliates appointed to officer roles) heightens related‑party risk; audit committee oversight is critical .
Overall, Ms. Savitt’s independence and audit committee role are positive governance signals, but absence of personal equity exposure and SPAC‑typical control/related‑party dynamics remain alignment risks pre‑combination .