Richard Kiko Jr
About Richard T. Kiko, Jr.
Richard T. Kiko, Jr. (age 59) is Vice Chairman of Consumers Bancorp, Inc. (CBKM) and Consumers National Bank, serving as a director since January 2015; he was named Vice Chairman in January 2024 . He brings multi-industry operating experience from prior management roles at Procter & Gamble, KKR’s Borden Foods Company, and GE Capital’s Eagle Family Foods, as well as leadership across a fifth‑generation family business portfolio spanning auctions, real estate brokerage, and commercial properties . He is considered independent under NASDAQ listing standards, and the Board reported all directors attended at least 75% of Board and committee meetings in FY2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Procter & Gamble | Various management positions | Not disclosed | Operating experience in sales, marketing, logistics, manufacturing, finance, general management |
| KKR Private Equity Co’s Borden Foods Company | Various management positions | Not disclosed | Operating experience broadening Board expertise |
| GE Capital’s Eagle Family Foods, Inc. | Various management positions | Not disclosed | Operating experience broadening Board expertise |
| CBKM Corporate Governance/Nominating Committee | Committee Chair (prior to Dec 1, 2023) | To Nov 30, 2023 | Led governance/nominations oversight until chair role transitioned to Ms. L’Italien on Dec 1, 2023 |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Coletta Holdings Inc. (family-owned holdings) | Director and shareholder | Current | Oversees portfolio entities |
| Kiko Auctioneers | Chief Executive Officer | Current | Auction services; related-party services to CBKM (see conflicts) |
| Kiko Real Estate Brokerage | President | Current | Real estate transactions; related-party services to CBKM (see conflicts) |
| Futuregen, LLC | CEO/President | Current | Family business holding |
| Generation Three Properties | CEO/President | Current | Commercial real estate owner |
| AK Auction Management LLC | Partner | Current | Commercial equipment/vehicle auction dealership |
| CXO Growth Partners, LLC | Partner | Current | Business brokerage company |
| EXSELLIT, LLC | Partner | Current | Ohio receivership company |
| RAHAB Ministries | Chairman of the Board | Current | Non-profit serving those affected by sex trafficking in NE Ohio |
Board Governance
- Independence: Independent director under NASDAQ rules; only CEO (Mr. Lober) is non‑independent .
- Board leadership: Vice Chairman of the Board since January 2024; offices of Chairman and CEO are separated .
- Meeting attendance: All directors attended at least 75% of Board and committee meetings in FY2025; all directors attended the 2024 Annual Meeting; in 2023, all attended except Mr. Kiko .
| Committee (FY2025) | Role | Chair? | FY2025 Meetings |
|---|---|---|---|
| Executive Committee | Member; Chairman | Yes | 3 |
| Asset/Liability Committee | Member | No | 3 |
| Risk & Technology Committee | Member | No | 4 |
Fixed Compensation
| Component | Amount/Terms | Evidence |
|---|---|---|
| Vice Chairman quarterly retainer | $8,500 per quarter | |
| Director quarterly retainer (non‑employee) | $6,250 per quarter (for other directors) | |
| Chairman quarterly retainer | $9,250 per quarter | |
| Committee fees (per quarter) – Member | Asset/Liability $1,000; Audit $1,250; Compensation $1,000; Corporate Governance/Nominating $750; Executive $1,000; Loan $2,000; Risk & Technology $1,000 | |
| Committee fees (per quarter) – Chair | Asset/Liability $1,500; Audit $1,250; Compensation $1,000; Corporate Governance/Nominating $1,000; Executive $1,000 (included in Vice Chairman retainer); Loan $2,500; Risk & Technology $1,250 | |
| FY2025 fees earned (cash) – Kiko | $42,000 |
Notes: Chair compensation for the Executive Committee is included in the Vice Chairman’s quarterly retainer (no separate chair fee) .
Performance Compensation
| Equity Awards | Grant Date | Condition | Settlement/Vesting | FY Amount |
|---|---|---|---|---|
| Director RSUs – FY2025 | July 1, 2024 | Attendance requirements | Settled June 30, 2025 | Kiko stock awards $16,528 |
| Director RSUs – FY2026 | July 2025 | Attendance requirements | Vest June 2026 if attendance met | Restricted stock units awarded to all non‑employee directors July 2025; vest June 2026 on attendance |
| Director RSUs – FY2024 | July 1, 2023 | Return on Average Equity performance target | Not vested (target not achieved) | No director stock awards recognized FY2024 |
Other Directorships & Interlocks
| Category | Detail | Evidence |
|---|---|---|
| Other public company boards | None disclosed | |
| Interlocks/related parties | CBKM retained Kiko Auctioneers and Kiko Real Estate Brokerage to liquidate property; each under $120,000 in FY2024 and FY2025 | |
| Governance controls on related parties | Non‑interested directors review related‑party transactions for independence, materiality, and arm’s‑length terms |
Expertise & Qualifications
- Multi‑disciplinary operating background across sales, marketing, logistics, manufacturing, finance, and general management from roles at P&G, Borden Foods, and GE Capital’s Eagle Family Foods .
- Real estate and business transaction expertise (auctions, private transactions, mineral rights), broadening Board’s domain coverage .
- Active community/non‑profit leadership (Chairman of RAHAB Ministries) .
Equity Ownership
| Metric | FY2024 (as of Aug 30, 2024) | FY2025 (as of Aug 29, 2025) |
|---|---|---|
| Beneficial ownership (shares) | 13,671 (includes 10,973 shares held in a trust) | 15,361 (includes 12,650 shares held in a trust) |
| Ownership % of outstanding shares | Less than 1% (denoted “*”) | Less than 1% (denoted “*”) |
| Shares outstanding (reference) | 3,123,588 (record date) | 3,144,775 (record date) |
| Hedging/pledging policy | Directors prohibited from margin purchases, short sales, and derivative transactions under Insider Trading Policy |
Governance Assessment
- Committee leadership and engagement: As Vice Chairman and Chair of the Executive Committee, Kiko has central influence over organizational goals, strategic planning, high‑impact initiatives, and major approvals; his presence across Risk & Technology and Asset/Liability indicates breadth of oversight and regular committee activity (3–4 meetings in FY2025) .
- Independence and attendance: Classified independent under NASDAQ rules, with at least 75% meeting attendance in FY2025; attended the 2024 Annual Meeting; a prior absence from the 2023 Annual Meeting was noted (unique among directors) .
- Compensation alignment: FY2025 director pay mix combines cash ($42,000) and equity RSUs ($16,528), with RSU vesting tied to attendance; FY2024 director RSUs did not vest due to performance (ROAE) shortfall, demonstrating willingness to withhold equity when targets are not met .
- Peer benchmarking and structure: Director fees were set at market median using a Blanchard Consulting Group peer study in FY2024; committee chair fees are defined, with Executive Committee chair pay embedded in the Vice Chairman retainer (structural clarity) .
- Conflicts/related‑party exposure – RED FLAG: CBKM retained Kiko‑affiliated firms (Kiko Auctioneers and Kiko Real Estate Brokerage) for services (<$120k each in FY2024 and FY2025). While amounts are below material thresholds and reviewed by non‑interested directors, ongoing engagements with director‑affiliated entities warrant monitoring for independence and pricing integrity .
- Risk oversight posture: Board maintains separated Chairman/CEO roles and formal Risk & Technology oversight, with Kiko participating directly; Insider Trading Policy bans hedging/margin/derivatives, supporting ownership alignment .