Dave Burwick
Director at BJ
Board
About Dave Burwick
Dave Burwick, 63, is an independent director of BJ’s Wholesale Club Holdings, Inc. (BJ) since 2024 and serves on the Nominating and Corporate Governance Committee. He is currently Chief Executive Officer of Spindrift Beverage Co. (since February 2025), and previously served as President & CEO of Boston Beer Company (2018–March 2024), President & CEO of Peet’s Coffee (from December 2012), and President, North America for WW International (2010–2012). He holds a BA in History from Middlebury College (cum laude) and an MBA from Harvard Business School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Spindrift Beverage Co. | Chief Executive Officer | Feb 2025–present | Vendor relationship with BJ considered; board reaffirmed Burwick’s independence (payments <1% of Spindrift net sales; no material interest) . |
| Boston Beer Company, Inc. | President & CEO; Director | CEO: Apr 2018–Mar 2024; Director: May 2005–Mar 2024 | Led consumer brands; long public company board tenure . |
| Peet’s Coffee & Tea, Inc. | President & CEO | From Dec 2012 | Specialty coffee leadership . |
| WW International, Inc. | President, North America | Apr 2010–Dec 2012 | Consumer services leadership . |
| PepsiCo, Inc. | SVP & CMO, Pepsi-Cola North America; other senior roles | ~20 years pre-2010 | Deep CPG marketing/brand management . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Deckers Outdoor Corporation | Director | Current | Public company board experience . |
| The Duckhorn Portfolio, Inc. | Director | May 2024–Dec 2024 | Luxury wine; tenure concluded Dec 2024 . |
| Boston Bruins Foundation | Advisory Board Member | Jan 2019–Dec 2024 | Non-profit advisory role . |
Board Governance
- Committee assignments: Member, Nominating & Corporate Governance Committee; not a chair .
- Independence: Board affirmed Burwick is independent under NYSE rules; specifically evaluated his Spindrift officer role given vendor relationship and concluded independence remained intact (BJ payments <1% of Spindrift net sales; no material interest) .
- Attendance and engagement: In FY2024, board met 4x; Nominating & Corporate Governance met 4x; all directors attended ≥75% of aggregate board/committee meetings; all directors then serving attended the 2024 annual meeting .
- Lead Independent Director: Steve Ortega appointed lead independent director effective Jan 9, 2025 .
Fixed Compensation
| Component | FY2024 Value | Notes |
|---|---|---|
| Fees earned or paid in cash | $67,189 | Partial-year service from appointment on June 20, 2024; includes $9,167 deferred under the company’s Non-Qualified Deferred Compensation Plan . |
| Annual board retainer (policy) | $100,000 | Increased from $95,000 for FY2024 . |
| Committee membership fee (Nominating & Corporate Governance) | $10,000 | Member retainer; chair retainer $25,000 . |
| Lead director retainer (policy) | $60,000 | Not applicable to Burwick; disclosed for structure . |
Performance Compensation
| Equity Award | Grant/Period | Units/Value | Vesting Terms |
|---|---|---|---|
| Director RSUs | FY2024 | $179,954; 2,032 unvested RSUs as of FY2024 year-end | Vest on earlier of day before next annual meeting or first anniversary, subject to continued service; directors may defer RSUs; upon change in control followed by director termination within 12 months, all outstanding director equity awards accelerate and vest . |
Performance metrics (company executive incentive context overseen by the Board):
| Metric | Minimum | Target | Maximum | Actual | FY2024 AIP Payout Impact |
|---|---|---|---|---|---|
| Adjusted EBITDA ($mm) | 976 | 1,084–1,128 | 1,196 | 1,091 | 70% weight; collar had no impact . |
| Comparable club sales ($bn) | 15.334 | 15.762–15.995 | 16.501 | 16.023 | 30% weight; total AIP achievement 102% . |
Other Directorships & Interlocks
| Company | Relationship to BJ | Interlock/Conflict Consideration |
|---|---|---|
| Spindrift Beverage Co. | Vendor to BJ | Board determined independence unaffected; BJ payments <1% of Spindrift net sales; no material interest for Burwick . |
| Deckers Outdoor Corporation | Customer/vendor relationship to BJ not disclosed | Public company board; no related-party transaction disclosed with BJ . |
| Duckhorn Portfolio, Inc. | Customer/vendor relationship to BJ not disclosed | Former director; no related-party transaction disclosed with BJ . |
Expertise & Qualifications
- Consumer goods executive with decades of strategic leadership; deep marketing, brand management, and CPG experience from PepsiCo, Boston Beer, Peet’s, and WW International .
- Significant public company board experience (Deckers; prior Duckhorn; long tenure at Boston Beer) .
- Governance skills via service on BJ’s Nominating & Corporate Governance Committee .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Composition/Notes |
|---|---|---|---|
| Dave Burwick | 2,032 | <1% | As of April 4, 2025; reflects unvested RSUs; directors must meet ownership guideline of 5x annual cash retainer within 5 years of appointment/election (Burwick by June 20, 2029) . |
Governance Assessment
- Strengths: Independent status affirmed despite external CEO role; anti-hedging/anti-pledging policy; robust director ownership guidelines (5x retainer within 5 years); RSU-based director pay aligns with long-term shareholder interests; strong attendance across board and committees .
- Potential conflicts: CEO role at Spindrift while BJ is a customer; board concluded immaterial (<1% of vendor net sales) and no personal interest—monitor for future changes in volume/terms. No related-party transaction beyond ordinary course disclosed .
- Compensation signals: Director cash retainer increased to remain competitive; equity grant increased to $180k value in FY2024; mix tilted toward equity, reinforcing alignment; no meeting fees; deferral flexibility added (September 2024) .
- Change-in-control terms: Director awards accelerate upon termination within 12 months post-CIC (double trigger); acceptable market practice, but note potential optics on exit windfalls .
RED FLAGS: None explicit in filings; monitor vendor relationship (Spindrift) for scale or preferential terms; ensure continuing high attendance and ownership guideline compliance .