Colin J. Parris
About Colin J. Parris
Colin J. Parris (age 63) is an independent director of Corebridge Financial (CRBG), appointed in 2025, with less than one year of board tenure as of April 16, 2025. He previously served as Senior Vice President and Chief Technology Officer at GE Digital (2020–2024), led software and analytics at GE’s Global Research Center (2014–2020), and held multiple executive roles at IBM, including VP & GM of IBM Power Systems and VP of Systems Research. His board qualifications emphasize digital transformation and risk management; he is deemed independent under NYSE listing standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| GE Digital | Senior Vice President & Chief Technology Officer | 2020–2024 | Technology leadership and digital transformation focus |
| GE Global Research Center | VP, Software & Analytics Research | 2014–2020 | Analytics strategy and execution |
| IBM (T.J. Watson Research, Corporate Technology, Software Dev., Power Systems) | Multiple executive roles (VP & GM; VP Software Dev; VP Corporate Tech; VP Systems Research) | 1994–2014 | Systems research, product leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Aptiv plc | Independent Director | Since 2017 | Not disclosed in CRBG proxy |
| Diebold Nixdorf, Inc. | Independent Director | Since 2024 | Not disclosed in CRBG proxy |
Board Governance
- Committee assignments: Audit Committee member; Nominating & Corporate Governance Committee member. He is not a chair.
- Independence: The Board determined Parris is independent under NYSE listing standards.
- Audit Committee effectiveness: 10 meetings in 2024, 98% average attendance; members are independent and financially literate; audit committee financial experts designated (Lynch, Bousa, Leone).
- Board attendance standards: Directors must attend ≥75% of Board and committee meetings over two consecutive years or risk non-nomination; overall 2024 attendance ~99%. (Parris joined in 2025; individual attendance not yet disclosed.)
- Executive sessions and leadership: Independent Chair (Alan Colberg); regular executive sessions of independent directors and committees without management.
- Insider trading policy: Pre-clearance required; blackout periods apply; Rule 10b5-1 plan guidelines; no hedging, pledging, or short sales.
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee directors) | $120,000 | Paid quarterly in arrears; prorated if appointed mid-quarter |
| Chair of the Board cash retainer | $200,000 | Paid quarterly; approved Dec 2024 |
| Lead Independent Director cash retainer | $100,000 | Paid quarterly; approved Jun 2024 |
| Audit Committee Chair cash retainer | $35,000 | Paid quarterly |
| Nominating & Corporate Governance Chair cash retainer | $25,000 | Paid quarterly |
| Compensation & Management Development Chair cash retainer | $25,000 | Paid quarterly |
| Risk Committee Chair cash retainer | $25,000 | Paid quarterly; approved Mar 2025 |
| Equity retainer (DSUs) | $165,000 | Granted annually at the annual meeting; prorated DSUs for pre-annual appointees |
| Meeting fees/perquisites | None | No meeting fees or perquisites for non-employee directors |
- DSUs vest immediately; settlement occurs within 90 days after the later of (i) last trading day of the month in which Board service terminates or (ii) the last trading day of the month of the first anniversary of service; dividend equivalents accrue and are paid upon settlement.
- Director stock ownership guidelines: Hold 5x annual cash retainer ($600,000) in CRBG stock/DSUs.
Performance Compensation
- Directors do not receive performance-based equity awards or bonuses; compensation mix emphasizes time-based DSUs and fixed cash.
Other Directorships & Interlocks
| Company | Relationship to CRBG | Potential Interlock/Conflict Analysis |
|---|---|---|
| Aptiv plc | Unrelated automotive supplier | No disclosed commercial relationship with CRBG; low direct conflict risk; time-commitment policy limits total public boards to ≤3 and audit committee memberships to ≤2 others. Parris currently on two public boards. |
| Diebold Nixdorf, Inc. | Unrelated financial-retail tech | No disclosed commercial relationship with CRBG; low direct conflict risk; subject to board service limits noted above. |
Expertise & Qualifications
- Core skills: Digital transformation, technology leadership, risk management.
- Board fit: Serves on Audit and Nominating & Corporate Governance, aligning tech/risk expertise with financial reporting oversight and governance processes.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Vested/Unvested Detail |
|---|---|---|---|
| Colin J. Parris | 2,334 | * (<1%) | Includes fully vested DSUs (2,334) with deferred share delivery until Board service ends |
| All directors & officers (27 persons) | 1,589,038 | * (<1%) | Group includes options exercisable within 60 days and RSUs/DSUs as noted |
- Note: Asterisk indicates less than 1% of outstanding shares; ownership includes fully vested DSUs with deferred delivery.
- Hedging/pledging prohibited; robust ownership guidelines apply.
Governance Assessment
- Strengths: Independence and technology/risk expertise; placement on Audit and Nominating & Corporate Governance enhances board oversight amid CRBG’s transition to a majority-independent board with newly established committees; strong director ownership guidelines and prohibition on hedging/pledging support alignment.
- Engagement/attendance signals: Audit Committee met 10 times in 2024 with 98% average attendance; board-wide attendance ~99% in 2024, and rigorous attendance policy reinforces effectiveness. (Individual attendance for Parris not yet applicable due to 2025 appointment.)
- Compensation alignment: Fixed cash plus DSUs with delayed settlement; no performance-based awards or perquisites; equity-heavy structure aligns with shareholder interests while avoiding short-term incentives for directors.
- Conflicts and related-party exposure: No related-party transactions disclosed involving Parris; Audit Committee reviews and approves related-person transactions, and independence was affirmatively determined.
- Compliance note (minor): One late Form 4 for Parris filed Jan 21, 2025 for a Jan 13, 2025 transaction due to administrative error—small compliance lapse but disclosed and corrected.
- Policy safeguards: Insider trading policy with pre-clearance and blackout periods; audit pre-approval policy to safeguard auditor independence; regular executive sessions under independent chair structure.
Overall signal: Governance quality and independence are solid, with notable technology/risk credentials bolstering Audit and Governance committee work; compensation and ownership structures support long-term alignment. The isolated late Section 16 filing is a minor procedural issue, not indicative of broader governance risk.