Juan Enriquez
CABOTAbout Juan Enriquez
Juan Enriquez (age 65) is an independent director of Cabot Corporation, serving since 2005 with his current term expiring in 2026. He chairs the Safety, Health, Environment & Sustainability (SHE&S) Committee and serves on the Governance & Nominating Committee, bringing significant expertise in technology ventures, startups, international business, and SHE matters. All non-management directors other than the CEO are independent under Cabot’s guidelines; the Board concluded none of the non-management directors had a material relationship with Cabot in fiscal 2024 . The Board held seven meetings in fiscal 2024; each director attended at least 75% of aggregate Board and Committee meetings during periods of service .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Biotechonomy Ventures | Chairman & CEO | Since 2003 | Leadership in technology ventures; SHE awareness |
| Excel Venture Management | Managing Director | Since 2008 | Life sciences investment; technology/startup expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| American Academy of Arts and Sciences | Trustee | Not disclosed | Non-profit governance |
| GBH | Trustee | Not disclosed | Non-profit governance |
| QuestBridge | Trustee | Not disclosed | Non-profit governance |
| Various start-ups & non-profits | Director | Not disclosed | Portfolio of board roles (non-public) |
Board Governance
| Committee | Role | FY2024 Meetings | Independence | Attendance |
|---|---|---|---|---|
| SHE&S | Chair | 4 meetings | Independent (NYSE standard) | ≥75% of Board/Committee meetings |
| Governance & Nominating | Member | 6 meetings | Independent (NYSE standard) | ≥75% of Board/Committee meetings |
- Executive sessions are held; the Non-Executive Chair presides and leads Board performance reviews and CEO succession oversight .
Fixed Compensation
| Component | Structure | FY2024 Amount (Juan Enriquez) |
|---|---|---|
| Annual cash retainer | $95,000 | $95,000 |
| Committee chair fee (SHE&S) | $15,000 | $15,000 |
| Total cash fees earned | Retainer + chair fees | $110,000 |
| Annual equity retainer (stock) | Fixed grant-date value | $155,000 (2,035 shares at $76.13 close on 1/11/2024) |
| 2025 equity grant | Fixed grant-date value | $155,000 (1,788 shares) for non-employee directors continuing after the 2025 meeting |
| Deferred comp election (cash) | Phantom stock units or interest | Enriquez deferred 2023 & 2024 cash comp into Cabot phantom stock units; 2024 Moody’s rate 5.88% for interest elections |
| Deferred comp election (stock) | Deferred stock into phantom units | Enriquez deferred 2024 stock award |
- Directors do not receive retirement benefits or perquisites beyond expense reimbursement; meeting fees are not part of the disclosed program .
- The Director Plan replaced the 2015 Directors’ Stock Plan in March 2024; Mr. Vanlancker received a pro-rated 2024 award on election (context of director program) .
Performance Compensation
Directors do not have performance-based compensation metrics; annual equity grants are fixed-value stock awards with a three-year holding expectation, and directors must retain shares granted for at least three years or until earlier retirement .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for Enriquez |
| Potential interlocks | None reported; Governance Committee reviews interested transactions under policy |
| Related party transactions | None involving directors/officers since beginning of FY2024 above $120,000 |
Expertise & Qualifications
- Technology and startup leadership; international business; SHE&S familiarity relevant to Cabot’s manufacturing and sustainability oversight .
- Board seeks directors with management leadership, specialty chemicals/adjacent industry operations, global, finance, and technology/materials experience; independence is annually assessed .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership | 43,140 shares; less than 1% of class |
| Deferred shares credited | 41,040 shares deferred under Cabot plans |
| Shared investment power | 2,100 shares |
| Ownership guidelines (directors) | Required holding equal to 5× annual cash retainer; expected within five years; directors must retain granted shares for ≥3 years |
| Hedging/Pledging | Prohibited for directors and LTI participants (no short sales, options on Cabot stock, margin/pledging) |
Governance Assessment
- Strengths: Long-tenured independent director with SHE&S chair role; active committee engagement (SHE&S and Governance) consistent with Cabot’s sustainability and risk oversight framework; attendance at or above the 75% threshold; compensation aligned to shareholder interests via fixed cash and equity with deferral elections and director ownership requirements .
- Alignment: Significant deferred equity and cash into phantom units and a prohibition on hedging/pledging enhance alignment and reduce conflict risk; no related-person transactions involving directors/officers in FY2024 .
- Committee effectiveness: SHE&S focuses on environmental/safety audits, process safety, remediation, ESG ratings, and net zero pathways; Governance oversees board composition, refreshment, independence, director compensation, and related-person transaction reviews .
- RED FLAGS: None evident—no attendance shortfall disclosed, no related-party transactions, hedging/pledging prohibited. Continue monitoring director deferrals and any emerging interlocks, but current disclosures indicate low conflict risk .