Eduardo Luna
Coeur MiningAbout Eduardo Luna
Eduardo Luna, age 79, has served on Coeur Mining’s Board since 2018. He holds a BS in Mining Engineering from Universidad de Guanajuato, an MBA from Instituto Tecnológico de Estudios Superiores de Monterrey, and an Advanced Management Degree from Harvard University. He brings extensive mining industry, executive leadership, project development/management, and Mexican regulatory/government relations experience, with prior senior roles at Luismin, Goldcorp, Primero and Wheaton . The Board has determined he is independent under NYSE standards and the Company’s guidelines .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wheaton Precious Metals Corp. | Director; Chairman of the Board; Interim CEO; Executive Vice President | Director: Jun 2004–May 2023; Chair: 2004–2009; Interim CEO: Oct 2004–Apr 2006; EVP: 2002–2005 | Board leadership and interim CEO responsibilities; strategic oversight for precious metals streaming |
| Primero Mining Corp. | Director; Executive Vice President and President (Mexico); President & Chief Operating Officer | 2008–2016 | Senior operating leadership; Mexico operations oversight |
| Goldcorp Inc. | Executive Vice President | Mar 2005–Sep 2007 | Executive leadership at major gold producer |
| Luismin, S.A. de C.V. | President | 1991–2007 | Led Mexican mining operations; project and regulatory experience |
| DynaResource, Inc. | Director; Special Advisor to Mexican subsidiary president | Mar 2017–Jan 2020 | Advisory role on Mexican operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Rochester Resources Ltd. | Non-Executive Chairman | Since Mar 2018 | Junior natural resources company with assets in Mexico |
| Vizsla Silver Corp. | Director | Since Nov 2023 | Junior natural resources company with assets in Mexico |
| University of Guanajuato (Faculty of Mines) | Advisory Board Chairman | N/A | Sector academic engagement |
| Minas de Bacís (private) | Director | Since 2018 | Private mining operations in Mexico |
| Avantti Medi Clear (private) | Director | Since 2010 | Private company directorship |
Board Governance
- Committee memberships: Audit (member), Environmental, Health, Safety & Corporate Responsibility (member), Finance & Technical (member). He is not listed as Chair of any committee .
- Audit Committee meetings: 6 in 2024; EHSCR: 5 in 2024; Finance & Technical: 5 in 2024 .
- Independence: Board determined Luna (and all current directors other than the CEO) to be independent under NYSE and Company standards; Audit and CLD committees satisfy heightened independence criteria .
- Attendance: Board met eight times in 2024; each incumbent director who served in 2024 attended at least 95% of Board and committee meetings; annual meeting attendance policy practiced; 2024 annual meeting attended by all seven re-election nominees .
- Executive sessions: Independent directors met in executive session at least eight times in 2024; Lead Independent Director presides .
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual cash retainer | $90,000 | Standard non-employee director cash retainer |
| Annual equity retainer | $100,000 | Paid in common stock or deferred stock units (DSUs) at director’s option |
| Committee chair retainers | $25,000 (Audit/CLD/EHSCR); $20,000 (F&T); $15,000 (NCG) | Not applicable to Luna (not a chair) |
| Lead Independent Director retainer | $25,000 | N/A to Luna; set in May 2024 |
| Meeting fees | $0 | Company does not pay meeting fees |
| Director | Fees Earned/Paid in Cash ($) | Stock Awards ($) (grant-date fair value) | Total ($) |
|---|---|---|---|
| Eduardo Luna | 90,000 | 87,029 | 177,029 |
Additional notes:
- Director stock awards are fully vested upon grant; no outstanding unvested or unexercised director equity awards as of Dec 31, 2024; prior stock options have expired .
- Luna elected to defer his stock award of 34,129 common shares into the Coeur Mining Deferred Compensation Plan (DSUs delivered on the 60th day after separation from Board service) .
Performance Compensation
- No performance-based director compensation disclosed (no PSUs, options, or performance metrics tied to director pay); director stock awards are fully vested upon grant; Company does not pay meeting fees .
Other Directorships & Interlocks
| Company | Type | Role | Current/Prior | Potential Interlock/Conflict Considerations |
|---|---|---|---|---|
| Vizsla Silver Corp. | Public (junior mining) | Director | Current | Sector overlap; no related person transactions disclosed at Coeur |
| Rochester Resources Ltd. | Public (junior mining) | Non-Executive Chairman | Current | Sector overlap; no related person transactions disclosed at Coeur |
| Wheaton Precious Metals Corp. | Public (streaming) | Director/Chair/Interim CEO | Prior | Another current Coeur director (Jeane Hull) serves on Wheaton’s board; no related person transactions disclosed at Coeur |
- Board independence review evaluates relationships where non-employee directors also serve elsewhere; Coeur disclosed certain director external affiliations with entities it did business with in 2024 (none related to Luna), with no influence or material direct benefit to those directors; Luna remains independent .
Expertise & Qualifications
- Mining industry, executive leadership, public company board experience, project development/management; strong experience with Mexican government relations and regulatory matters relevant to Las Chispas and Palmarejo operations .
Equity Ownership
| Holder | Shares Beneficially Owned | Ownership % of Outstanding | DSUs Excluded from Beneficial Ownership |
|---|---|---|---|
| Eduardo Luna | 119,001 | <1% (of 638,384,526 outstanding) | 34,129 DSUs |
Additional alignment policies:
- Stock ownership guideline: Non-employee directors must hold 5x base annual director cash retainer; unvested time-based RS/RSUs count; DSU implied value counts; five-year phase-in; each director either met the guideline or remains within compliance period .
- Hedging and pledging prohibition: Directors are prohibited from hedging Coeur stock and from holding Coeur securities in margin accounts or pledging as collateral .
Governance Assessment
- Strengths: Independent director; multi-committee memberships (Audit, EHSCR, Finance & Technical) covering financial reporting, EHS/climate risk, capital allocation and reserves/resources; high attendance across Board/committees; no related person transactions disclosed; DSU deferral suggests long-term alignment; robust ownership guidelines and anti-hedging/pledging policy .
- Pay structure: Balanced cash/equity retainer; fully vested equity grants without performance conditions typical for director compensation; no meeting fees; no option awards outstanding; compensation chair fees not applicable to Luna .
- Related-party/conflict review: Company discloses none since beginning of 2024 and applies annual independence reviews; Luna’s current external public board roles are in mining, but no Coeur-related transactions involving him are disclosed; independence affirmed .
- RED FLAGS: None disclosed for Luna (no related party transactions; no hedging/pledging; attendance at least 95% among incumbents; independent committee composition) .