Christopher Lynch
About Christopher Lynch
Christopher Lynch is an independent director at Corebridge Financial (CRBG), age 67, serving since 2021. He chairs the Audit Committee and sits on the Compensation and Management Development Committee and the Risk Committee. Lynch is a career financial services audit leader: an independent consultant since 2007 and a former KPMG National Partner in Charge for Financial Services, Chair of the Americas Financial Services Leadership team, and a partner in the National Department of Professional Practice; he also served as a fellow at the Financial Accounting Standards Board (FASB) . The Board has designated him an “audit committee financial expert” under SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| KPMG | National Partner in Charge, Financial Services; Chair, Americas Financial Services Leadership; Member, Global Financial Services Leadership & U.S. Industries Leadership; Partner, National Dept. of Professional Practice | 1978–2007 | Led financial services audit leadership; deep technical accounting expertise; FASB fellow |
| Independent Consultant | Advisor to public and private companies | 2007–Present | Provides financial services, audit, and accounting advisory |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tenet Healthcare Corporation (NYSE: THC) | Director | Since 2019 | Current U.S. public company directorship |
| Forum Mobility Inc. | Director | Since 2023 | Other directorship (private company) |
| American International Group (NYSE: AIG) | Director | 2009–2022 | Former U.S. public company directorship; prior interlock with CRBG’s former majority holder |
| Federal Home Loan Mortgage Corporation (Freddie Mac) | Director | Prior service (dates not specified) | Former directorship |
Board Governance
- Independence: Identified as an independent director; Audit Committee members (including Lynch) determined independent and financially literate under Exchange Act and NYSE rules .
- Committee assignments and chair roles:
- 2025: Audit Committee Chair; member—Compensation and Management Development; Risk .
- 2024: Audit Committee member (Chair was Alan Colberg); Special Purpose Committee (administrator of 2022 Omnibus plan); Section 16 Sub-Committee (Rule 16b-3 grants authority) .
- 2023: Audit Committee member (Board designated him an audit committee financial expert) .
- Audit Committee effectiveness: 10 meetings in 2024 with 98% average attendance; committee reviews financial reporting, internal controls, auditor independence, risk exposures, and approves related person transactions .
- Governance practices: Robust director stock ownership guidelines; no hedging, pledging or short sales; directors’ equity awards do not settle until retirement; majority independent board; independent chair; limit of five-year terms for committee chairs .
Committee Assignments by Year
| Year | Audit Committee | Compensation/MD Committee | Risk Committee | Special Purpose Committee | Section 16 Sub-Committee |
|---|---|---|---|---|---|
| 2023 | Member; designated “audit committee financial expert” | — | — | — | — |
| 2024 | Member (Chair: Colberg) | — | — | Member (SPC administering 2022 Omnibus plan) | Member (Rule 16b-3 equity grant authority) |
| 2025 | Chair; “audit committee financial expert” | Member | Member | — | — |
Fixed Compensation
Director compensation emphasizes equity, with no perquisites and additional fees only for board or certain committee chairs.
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $120,000 | $140,416 |
| Stock Awards ($) | $165,000 (DSUs; 9,981 DSUs grant) | $165,000 (DSUs) |
| Total ($) | $285,000 | $305,416 |
| Cash Retainer Policy | $120,000 annual cash retainer; paid quarterly | Cash retainer for directors; chairs receive additional fees; no committee membership fees except chair roles |
| Audit Chair Retainer | $35,000 annual; paid quarterly (policy) | Additional chair fees apply (policy); mix emphasizes equity |
Performance Compensation
Directors do not receive performance-based equity awards; annual equity grants are DSUs with immediate vesting but settlement deferred until service termination.
| Component | Exists for Directors? | Notes |
|---|---|---|
| Performance-based equity (PSUs/Options tied to metrics) | No | “Directors do not receive performance-based equity awards.” |
| Equity grant mechanics | Yes | Fixed value DSUs; vest immediately; settle ≤90 days after service termination anniversary window; accrue dividend equivalents |
Clawbacks, anti-hedging and anti-pledging policies are robust and apply company-wide; directors are prohibited from hedging or pledging Corebridge securities .
Other Directorships & Interlocks
- Current public company board: Tenet Healthcare Corporation (NYSE: THC) .
- Prior public company board: AIG (NYSE: AIG) 2009–2022; potential historical interlock given AIG’s prior control of CRBG; mitigated by Related Party Transactions Policy and disinterested Audit Committee review .
- Private company: Forum Mobility Inc. since 2023 .
Expertise & Qualifications
- Financial services audit and accounting leader with decades at KPMG; experienced in professional practice and technical accounting; FASB fellow .
- Designated “audit committee financial expert”; deeply qualified for audit oversight and risk management .
- Brings leadership, governance, and risk insights pertinent to insurance and financial services .
Equity Ownership
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Corebridge shares owned | 17,839 (fully vested DSUs; delivery deferred) | 17,839 (fully vested DSUs; delivery deferred) | 23,402 (includes fully vested DSUs; delivery deferred) |
| AIG shares owned | 39,766 (incl. 36,611 AIG DSUs) | 37,493 | — |
- Director stock ownership guidelines: Non-employee directors must hold five times the annual cash retainer (for 2024, equal to $600,000) in CRBG common stock, inclusive of DSUs; can be met over time via DSU retention .
- Anti-hedging/pledging: Company policy prohibits hedging and pledging of CRBG securities by directors, officers, and employees .
- DSU settlement: Within 90 days after later of month of service termination or first anniversary of commencement; DSUs accrue dividend equivalents paid upon settlement .
Governance Assessment
- Committee leadership and expertise: Lynch’s elevation to Audit Committee Chair and designation as an “audit committee financial expert” signal strong board oversight of financial reporting, internal controls, and related party transactions—key for investor confidence in a post-controlled-company transition .
- Engagement and attendance: Audit Committee held 10 meetings in 2024 with 98% average attendance, indicating active oversight; individual director attendance not separately disclosed, but committee-level attendance is high .
- Compensation alignment: Director pay emphasizes equity via DSUs with deferred settlement, no performance-based awards, and strict stock ownership guidelines—aligning incentives with long-term shareholder interests; no perquisites and chair-only fee differentials suggest disciplined pay practices .
- Conflicts and related parties: Historical AIG ties exist (former AIG director; company previously controlled by AIG), but CRBG’s Related Party Transactions Policy requires disinterested Audit Committee approval, and AIG-affiliated directors are restricted from voting on AIG-related transactions; Lynch is independent and the Audit Committee reviews and approves related person transactions, mitigating conflict risk .
- Shareholder signals: 2023 Say-on-Pay approval was 99% in favor, indicating supportive investor sentiment toward compensation governance; SPC members (including Lynch) reported no relationships requiring Item 404 disclosure, and no late Section 16 filings were attributed to Lynch in 2024–2025 .
RED FLAGS
- Historical interlock with AIG: Prior service on AIG’s board and residual AIG share ownership could present perception risk given AIG’s historical majority stake; policies and independence mitigate this, but investors should monitor related-party transaction approvals and any evolving ties .
- Committee transitions: Shifts from Special Purpose Committee to full Compensation and Nominating committees reflect governance normalization; monitor execution quality and independence as structures mature .
Additional Notes
- Non-employee director compensation structure: Fixed value DSUs; immediate vesting; deferred settlement; anti-hedging/pledging; no committee membership fees beyond chairs; no perquisites .
- Board service limits: Directors are subject to limitations on external public company board service; audit committee members limited to service on no more than two other public company audit committees, supporting bandwidth and focus .