Howard Buffett
About Howard W. Buffett
Independent non‑executive director of CNH since 2020; age 41. Professor at Columbia University’s School of International and Public Affairs with research oriented to ESG, sustainability, and impact measurement; prior public service in DoD (economic stabilization in Iraq/Afghanistan—Joint Civilian Service Commendation Award), White House Domestic Policy Council, and USDA; former Executive Director of the Howard G. Buffett Foundation . Determined independent under NYSE and Dutch Code; re‑appointment recommended for the 2025 AGM .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Columbia University SIPA | Professor (ESG/sustainability/impact measurement) | Not disclosed | Advisory Committee on Socially Responsible Investing for Columbia’s ~$15B endowment (prior service) |
| U.S. Department of Defense | Oversaw economic stabilization/redevelopment programs (Iraq/Afghanistan) | Not disclosed | Joint Civilian Service Commendation Award recipient |
| White House Domestic Policy Council | Policy Advisor | Not disclosed | Policy advisory in domestic agenda |
| U.S. Department of Agriculture (Office of the Secretary) | Policy role | Not disclosed | Agricultural policy support |
| Howard G. Buffett Foundation | Executive Director | Not disclosed | Philanthropic leadership |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| Toyota Motor North America | Corporate board | Private subsidiary | Board service |
| Inari Agriculture | Corporate board | Private | Board service in ag‑tech |
| StateBook International | Corporate board | Private | Board service |
| Reflection Analytics | Corporate board | Private | Board service |
| Harvard International Negotiation Program | Advisory Council Chair | Academic | Governance/advisory leadership |
| Chicago Council on Global Affairs – Center on Global Food & Agriculture | Panel of Advisors | Non‑profit | Advisory role |
| Learning by Giving Foundation | Advisory Board | Non‑profit | Advisory role |
| Council on Foreign Relations | Term Member (former) | Non‑profit | Prior membership |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Independent (NYSE/Dutch Code) |
| CNH Board Tenure | Director since 2020 |
| Committee Assignments | Governance & Sustainability Committee (Chair); Human Capital & Compensation Committee (Member) |
| Committee Attendance (2024) | HCC met 9x, overall attendance 100%; G&S met 4x, overall attendance 100% |
| Board Attendance (2024) | Board met 6x; all incumbent directors attended ≥75%; overall attendance 100% |
| Lead/Senior Independent | Senior Non‑Executive Director: Vagn Sørensen |
| HCC Committee Report | Signed by Bastoni (Chair), Kramer, Buffett |
Fixed Compensation
| Component | CNH Policy | 2024 Amount for Howard W. Buffett |
|---|---|---|
| Annual cash retainer | $125,000 | $165,000 (includes committee retainers) |
| Committee member retainer (non‑Audit) | $20,000 per committee | Included in total (HCC member) |
| Committee chair retainer (non‑Audit) | $25,000 | Included in total (G&S Chair) |
| Audit Committee member retainer | $25,000 | Not applicable |
| Audit Committee chair retainer | $35,000 | Not applicable |
| Meeting fees | None; expenses reimbursed | None |
Performance Compensation
| Element | CNH Policy | 2024 Detail |
|---|---|---|
| Equity for Non‑Executive Directors | Annual RSU grant (target $60,000); directors’ compensation not dependent on company financial results | Stock awards (grant‑date fair value) $53,865; RSU grant date June 10, 2024 at $9.73 (per‑share grant price) |
| Vesting | Non‑Exec RSUs granted in June 2024 vest in June 2025 | RSUs vest June 2025 |
| Dividends on RSUs/PSUs | No dividend equivalents earned during vesting | No dividend equivalents |
CNH does not grant options/SARs currently; equity awards for directors are time‑vested RSUs, not tied to performance metrics .
Other Directorships & Interlocks
| Company | Relationship to CNH | Interlock/Conflict Note |
|---|---|---|
| Toyota Motor North America | No disclosed transaction with CNH | No related‑party transactions requiring disclosure since start of 2024 |
| Inari Agriculture; StateBook; Reflection Analytics | No disclosed transaction with CNH | No related‑party transactions requiring disclosure since start of 2024 |
Expertise & Qualifications
- ESG and sustainability expert with academic credentials across Northwestern (BS), Columbia (MPP/MPA), MIT (MBA), plus executive education at Harvard Business School .
- Public sector experience spanning DoD (economic stabilization), White House DPC, USDA; recognized with the Joint Civilian Service Commendation Award .
- Multi‑sector board/advisory exposure across automotive, ag‑tech, analytics, and academic programs .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Common Shares Outstanding | Vesting/Exercisable Within 60 Days | Notes |
|---|---|---|---|---|
| Howard W. Buffett | 17,866 | ~0.0014% (17,866 ÷ 1,248,043,843) | — | Less than 1% per company disclosure |
- Director stock ownership guideline: own ≥1× annual retainer ($125,000) within 24 months of first appointment; expected to hold shares while on Board and for 3 months after service ends .
- Hedging and pledging of CNH equity is prohibited for insiders (directors included) .
Governance Assessment
- Committee leadership and independence: Buffett chairs the Governance & Sustainability Committee and is an independent HCC member—both committees met frequently in 2024 with 100% attendance, indicating active oversight engagement .
- Board effectiveness: overall Board attendance was 100% in 2024, with all directors meeting ≥75% attendance thresholds—supports strong governance discipline .
- Compensation alignment: Non‑exec director pay is simple (cash + RSUs) and not tied to financial results; ownership guidelines promote alignment; hedging/pledging prohibited; clawback regime in place for incentive compensation under SEC/NYSE rules (primarily executives), and A&R EIP includes clawback language—positive alignment signals .
- Conflicts/related‑party exposure: No related‑party transactions requiring disclosure since the beginning of 2024; committee members (including Buffett) had no compensation interlocks or insider participation issues in 2024—low conflict risk .
- Control and shareholder context: EXOR holds ~29.4% of common shares and ~45.3% voting power via loyalty shares; while not specific to Buffett, control dynamics can influence governance; existence of independent committees (including Buffett’s roles) mitigates risk .
RED FLAGS: None disclosed regarding attendance shortfalls, related‑party transactions, hedging/pledging, or director‑specific pay anomalies for Howard W. Buffett in 2024–2025 .