Amy Schioldager
About Amy Schioldager
Independent director of Corebridge Financial (CRBG) since 2021; age 62. Former Senior Managing Director and Global Head of Beta Strategies at BlackRock, where she also served on the Global Executive Committee and as Vice Chair of the Corporate Governance Committee. At CRBG she serves on Audit and Nominating & Corporate Governance and chairs the newly formed Risk Committee. Current public company directorship: The ODP Corporation (since 2024). Prior public boards: AIG (2019–2022) and Intermediate Capital Group plc (2018–2024). Core credentials span index investing, corporate governance, and risk oversight.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BlackRock, Inc. | Senior Managing Director; Global Head of Beta Strategies | 2006–2017 | Member, Global Executive Committee (2012–2017); Vice Chair, Corporate Governance Committee (2008–2015) |
| AIG (American International Group) | Director | 2019–2022 | Public company board service (prior); relevant to CRBG’s separation context |
| Intermediate Capital Group plc (ICG) | Director | 2018–2024 | London-listed (prior public board); governance and investment oversight exposure |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The ODP Corporation | Director (U.S. public company) | Since 2024 | Committee roles not disclosed in CRBG proxy |
| Boardspan | Director | Since 2017 | Private company board; governance analytics focus |
| Cal State East Bay Educational Foundation | Trustee/Board member (non-profit) | Since 2021 | Philanthropic/governance involvement |
Board Governance
- Current CRBG committee assignments: Audit; Nominating & Corporate Governance; Risk (Chair). Risk Committee established February 2025; initial meeting held March 2025.
- Independence: Classified as an independent director under NYSE rules; Audit and Nominating & Corporate Governance committees comprised of independent directors (with noted exception for one N&CG member), and Risk Committee charter requires an independent chair (fulfilled by Ms. Schioldager).
- Attendance and engagement:
- Board held 4 meetings in 2024; each director attended at least 75%; overall Board and Committee attendance ~99% for all current/former directors as a group.
- Audit Committee: 10 meetings; 98% average attendance (she is a member).
- Nominating & Corporate Governance Committee: 2 meetings; 100% average attendance (she is a member).
- Compensation governance transition: Prior to majority-independence, she served on the Special Purpose Committee (SPC) and its Section 16 Sub-Committee administering compensation/equity; SPC was replaced in 2024 by the Compensation & Management Development Committee.
- Related-party oversight: Audit Committee reviews/approves related-person transactions; no Item 404 related-party relationships disclosed for SPC or Compensation Committee members in 2024 (includes Ms. Schioldager).
Fixed Compensation
| Component | 2022 | 2023 | 2024 |
|---|---|---|---|
| Annual Cash Retainer (paid quarterly) | $123,550 | $120,000 | $120,000 |
| Equity Retainer (DSUs; fixed $ value) | $165,000 (7,858 DSUs) | $165,000 (9,981 DSUs) | $165,000 (5,563 DSUs) |
| Total Director Compensation | $288,550 | $285,000 | $285,000 |
- Program structure and changes:
- Non-employee director pay is cash + DSUs; equity vests immediately but settles only upon board departure; no perquisites; no additional fees for committee service except for committee chairs.
- Cash retainers added/updated: Lead Independent Director ($100k, Jun 2024), Nominating & Corporate Governance Chair ($25k, Jun 2024), Compensation & Management Development Chair ($25k, Jun 2024), Chair of the Board ($200k, Dec 2024), Risk Committee Chair ($25k, Mar 2025). Ms. Schioldager, as Risk Chair, is eligible for the $25k chair retainer beginning 2025 (prorated as applicable).
- Matching Grants Program for directors: up to $10,000 per year; match rate shifted from 2:1 to 1:1 for donations after Oct 18, 2024.
Performance Compensation
| Feature | Status |
|---|---|
| Performance-based equity/bonuses for directors | None; non-employee directors do not receive performance-based equity awards. |
| Vesting/settlement | DSUs vest immediately; settle within 90 days after the later of board service termination or first service anniversary; accrue dividend equivalents. |
No director performance metrics (e.g., TSR, EPS) apply; equity is a fixed-value DSU grant designed to align with stockholders via deferred settlement.
Other Directorships & Interlocks
| Company | Public? | Role | Tenure | Potential Interlock/Conflict Notes |
|---|---|---|---|---|
| The ODP Corporation | Yes | Director | Since 2024 | No CRBG-related interlock disclosed. |
| AIG (prior) | Yes | Director | 2019–2022 | CRBG has ongoing relationships with AIG post-separation; however, 2024 committee members (incl. Ms. Schioldager) had no Item 404 related-party relationships disclosed. |
| Intermediate Capital Group plc | Yes (UK) | Director | 2018–2024 | No CRBG conflict disclosed. |
- Compensation committee interlocks: None involving CRBG executives; SPC/CMD members had no relationships requiring Item 404 disclosure.
Expertise & Qualifications
- Investment management and index strategies leadership from BlackRock (Global Head of Beta Strategies), governance committee leadership, and executive committee experience.
- Financial literacy for Audit Committee service; committee chairs and composition structured to ensure risk oversight competency (independent Risk Chair).
- Sector relevance: deep financial services experience; governance and risk oversight directly applicable to CRBG’s insurance and asset-intensive businesses.
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (as of Mar 17, 2025) | 23,402 shares (comprised of fully vested DSUs; delivery deferred until service ends); <1% of outstanding (based on 554,213,947 shares outstanding). |
| DSUs granted | 7,858 (2022) ; 9,981 (2023) ; 5,563 (2024) |
| Hedging/pledging | Prohibited for directors and employees by policy; directors’ equity awards do not settle until retirement from the Board. |
| Ownership guidelines | Non-employee directors must hold 5x annual cash retainer (for 2024: $600,000) in CRBG stock (incl. DSUs); individual compliance status not disclosed. |
| Section 16 compliance | No delinquent filings listed for Ms. Schioldager in 2024–2025. |
Governance Assessment
- Strengths
- Independent director with relevant financial services and governance background; chairs Risk Committee, signaling strong risk oversight emphasis post majority-independence.
- Consistent engagement: committees with high 2024 attendance (Audit 98%; N&CG 100% averages) and Board-wide ~99% attendance; directors expected to attend annual meetings (met in 2024).
- Pay structure aligns with shareholders (fixed-value DSUs, deferred settlement, no perqs; robust ownership/anti-hedging rules).
- No Item 404 related-party relationships disclosed for 2024 compensation governance bodies; no Section 16 filing delinquencies.
- Watch items
- Risk Committee newly established (Feb 2025); effectiveness will be demonstrated over time as remit spans ERM, cybersecurity, and insurance/investment risks.
- Ownership guideline is sizable (5x cash retainer = $600k for 2024), but individual compliance status is not disclosed; continue to monitor DSU accumulation versus guideline.
- Contextual signals
- Board governance reforms in 2024–2025 include increased independence, new committees, independent Chair; say-on-pay received 99% support in 2023, indicating positive investor sentiment toward pay/governance structures.
Director Compensation Detail (Structure Reference)
- Cash retainers (2024–2025 framework): $120,000 annual for directors; additional annual retainers for Chair ($200k), Lead Independent Director ($100k), Audit Chair ($35k), N&CG Chair ($25k), Compensation & Management Development Chair ($25k), Risk Chair ($25k); prorated for mid-quarter appointments.
- Equity retainer: $165,000 in DSUs at annual meeting; initial prorated DSUs for pre-meeting appointees; DSUs vest immediately, deferred settlement; accrue dividend equivalents.
Insider Trades and Filings
| Item | Status |
|---|---|
| Insider transactions (Form 4) | No late filings reported for Ms. Schioldager in 2024–2025; proxy lists other individuals with late filings, but not her. |
Related-Party Exposure
- Audit Committee is responsible for reviewing and approving related-person transactions.
- For 2024, no relationships requiring Item 404 disclosure for SPC/CMD members (includes Ms. Schioldager).
- CRBG discloses broader related-party arrangements (AIG, Blackstone, Nippon) at the company level; no specific disclosure implicates Ms. Schioldager.
Say-on-Pay & Shareholder Feedback (Context)
- 2023 Say-on-Pay approval: 99% of votes in favor; considered by the Board/SPC/CMD in evaluating compensation programs.
Compensation Peer Group (Context)
- CMD Committee uses a financial services/insurance peer group (Aflac, Ameriprise, Equitable, Lincoln, MetLife, Manulife, Northern Trust, Principal, Prudential, Sun Life, Hartford, Unum, Voya) for executive pay benchmarking (not directly for directors).