Isabelle Ortiz-Cochet
About Isabelle Ortiz-Cochet
Isabelle Ortiz-Cochet, age 63, has served as a director of Barfresh Food Group Inc. since December 16, 2016; she is currently Chief Investment Officer at Unibel, the parent company of Bel Group, and holds a master’s degree from ESSEC Business School and an executive MBA from HEC Business School in France . Her background spans strategy and investment leadership roles within Bel Group (including VP Strategic Development) and earlier marketing roles at Kimberly Clark, with a focus on diversification strategy and portfolio development . Unibel designated Ortiz-Cochet as its board designee pursuant to an investor rights agreement, an arrangement under which Barfresh agreed to call stockholder meetings as needed to ensure the designee’s election and certain insiders agreed to vote their shares in favor—a governance dynamic relevant to independence considerations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bel Group (via Unibel) | Chief Investment Officer (Unibel) | Jan 2016–present | Drives Unibel diversification strategy; leads investment portfolio development |
| Bel Group | VP Strategic Development | Sept 2013–Dec 2015 | Led long-term strategy for Americas and marketing strategy in region |
| Bel Group (NY office) | Strategy leadership (Americas) | 2007–2013 | Developed long-term strategies in North and South America; marketing strategy |
| Kimberly Clark | Early career in marketing | Not disclosed | Marketing and global strategy experience foundation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Unibel (parent of Bel Group) | Chief Investment Officer | Jan 2016–present | Unibel is a France-based parent of Bel Group, a global leader in branded cheese and fruit pouches |
Board Governance
- Committee assignments: Member, Nominating and Governance Committee (members: Steven Lang and Isabelle Ortiz-Cochet) .
- Audit and Compensation Committee compositions for context: Audit Committee (Joseph Cugine, Steven Lang, Alexander Ware; Ware, Chair); Compensation Committee (Justin Borus, Joseph Cugine, Alexander Ware) .
- Independence framework: Board applies Nasdaq Rule 5605(a)(2); the board determined five of six directors are independent (majority independent) .
- Attendance: In 2024, the board met five times; each director and each committee member attended at least 75% of meetings .
- Tenure: Appointed as director December 16, 2016 .
- Investor rights arrangement: Unibel entitled to appoint one director and have the designee sit on each committee selected by Unibel (subject to ownership thresholds); Barfresh agreed to call stockholder meetings to ensure election; certain insiders agreed to vote their shares in favor—indicating a significant shareholder’s formal influence on board composition and committee access .
Fixed Compensation
| Component (FY2024) | Amount (USD) |
|---|---|
| Fees earned or paid in cash | $0 |
| Committee membership fees | Not disclosed |
| Committee chair fees | Not disclosed |
| Meeting fees | Not disclosed |
| Reimbursement of expenses | Provided to all directors (policy statement) |
Performance Compensation
| Equity/Performance Component (FY2024) | Detail |
|---|---|
| Stock awards | $0 |
| Option awards | $50,000 |
| Performance metrics tied to director pay | None disclosed for directors |
| Vesting schedules / strike terms for director grants | Not disclosed for directors in FY2024 table |
Note: The “Outstanding Equity Awards at Fiscal Year-End” table discloses detailed option schedules for executives but does not provide strike/vesting specifics for directors; director compensation disclosure shows option award value only for Isabelle Ortiz-Cochet in 2024 .
Other Directorships & Interlocks
| Entity | Relationship | Details | Potential Conflict/Interlock Consideration |
|---|---|---|---|
| Unibel (13.8% beneficial owner) | Board designee; shareholder rights | Unibel may appoint one director and select committee participation for its designee; Barfresh to call meetings to ensure election; certain insiders agreed to vote favorably | Major shareholder influence over board composition and committees is a governance risk for independence and potential interlocks |
Expertise & Qualifications
- Strategic and investment leadership: CIO overseeing diversification and portfolio development for Unibel; prior VP Strategic Development at Bel Group .
- Regional strategy experience: Led Americas strategy and marketing from Bel’s New York office .
- Education: Master’s degree from ESSEC; executive MBA from HEC (France) .
Equity Ownership
| Holder | Total Beneficial Ownership (shares) | % of Class | Notes |
|---|---|---|---|
| Isabelle Ortiz-Cochet | 137,333 | 0.9% | Includes 137,333 shares underlying options granted |
| Shares Outstanding (record date) | 15,935,341 | — | As of April 25, 2025 |
- Vested vs. unvested breakdown: Not disclosed for director holdings .
- Options exercisable vs. unexercisable: Not disclosed for director holdings .
- Shares pledged as collateral: None disclosed .
- Director ownership guidelines: Not disclosed .
Governance Assessment
- Committee participation and engagement: Ortiz-Cochet serves on the Nominating and Governance Committee; board and committee attendance met at least the 75% threshold in 2024, which supports baseline engagement but lacks granularity by director beyond the threshold .
- Independence signal vs. shareholder designation: While the board reports a majority independent composition under Nasdaq standards, Ortiz-Cochet is expressly designated by Unibel and entitled to committee access via investor rights; this structure can constrain independence and introduce potential conflicts due to major shareholder influence on board composition and governance processes .
- Pay structure and alignment: Director pay for Ortiz-Cochet in 2024 consisted solely of option awards ($50,000) with no cash retainer or stock awards, implying equity-based alignment but without disclosed performance metrics or vesting/strike specifics; the lack of cash retainer may increase alignment but options can also incentivize risk-taking depending on strike/vesting terms (not disclosed) .
- Ownership alignment: Beneficial ownership of 0.9% via 137,333 option-related shares suggests meaningful exposure but without visibility into vesting/exercisability and no disclosure of pledging, limiting assessment of “skin-in-the-game” robustness .
RED FLAGS
- Major shareholder rights: Unibel’s contractual right to appoint a director and to place the designee on committees, coupled with company commitments to ensure election and insider voting agreements, represents a structural governance risk to independent oversight and committee autonomy .
- Transparency gaps: No disclosure of director-specific vesting schedules or strike prices, no meeting/committee fees detail, and no director ownership guidelines, reducing evaluability of pay-for-performance and ownership alignment for independent directors .