Sylvia Acevedo
Lead Independent Director at CRDO
Board
About Sylvia Acevedo
Independent director (age 67), serving on Credo’s board since December 2021; appointed Lead Independent Director in April 2025. Acevedo holds a B.S. in Industrial Engineering from New Mexico State University and an M.S. in Engineering from Stanford University, with prior executive roles at Apple, Autodesk, Ungermann-Bass, Dell, and CEO tenure at Girl Scouts of the USA, plus public-sector service as a White House Commissioner (2011–2016) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Girl Scouts of the USA | CEO | Jun 2016 – Aug 2020 | Led national organization; prior GSUSA board member (Oct 2008 – Jun 2016) |
| White House Initiative for Educational Excellence for Hispanics | Commissioner | May 2011 – Jan 2016 | Presidential appointment; policy advisory |
| Apple Inc. | Executive | 1988 – 1990 | Technology executive role |
| Ungermann-Bass Inc. | Executive | Mar 1990 – Jul 1992 | Networking technology leadership |
| Autodesk, Inc. | Executive | Aug 1992 – Jun 1996 | Software leadership |
| Dell Technologies Inc. | Executive | Jun 1997 – Jun 2001 | Senior operating roles |
| Reba Technologies | Co-founder | 2001 – 2002 | Early-stage software company |
| CommuniCard LLC | CEO | Oct 2002 – Mar 2013 | Professional services firm leadership |
External Roles
| Company | Role | Since | Committees |
|---|---|---|---|
| Qualcomm Incorporated | Director | Nov 2020 | Governance Committee member |
Board Governance
- Classification and tenure: Class II director; director since 2021; Lead Independent Director since Apr 2025 .
- Committee assignments (as of record date): Compensation Committee member; Nominating & Corporate Governance (NCG) Committee Chair; not on Audit .
- Independence: Board determined Acevedo meets Nasdaq/SEC independence standards; Compensation and NCG committees fully independent .
- Attendance: Board held 4 meetings in FY2025; each current director attended at least 75% of Board and committee meetings; independent directors met regularly in executive session .
- Committee activity levels:
- FY2024 meetings: Audit (7), Compensation (2), NCG (2) .
- FY2025 meetings: Audit (8 + 1 action by consent), Compensation (4 + 11 actions by consent), NCG (5) .
- Lead Independent Director responsibilities: presides over executive sessions, liaises between Chair/CEO and independent directors, consults on agendas, can call meetings, presides over CEO evaluation/compensation portions, and may liaise with shareholders .
Fixed Compensation
- Non-employee director fee schedule:
- Board annual retainer: $50,000 (FY2025) .
- Audit Chair: $20,000; Compensation Chair: $15,000; NCG Chair: $10,000 .
- Audit member: $10,000; Compensation member: $7,500; NCG member: $5,000 .
- Fees paid quarterly in arrears .
| Component | FY 2024 | FY 2025 |
|---|---|---|
| Cash Fees (Acevedo) | $53,333 | $60,867 |
| Equity (RSU grant-date fair value) | $363,962 | $292,956 |
| Total | $417,295 | $353,823 |
Performance Compensation
- Annual equity grants for continuing non-employee directors: RSUs with grant value $175,000, granted as of the first business day following the Annual General Meeting (standard annual cycle) .
- December 2024 grant mechanics: post-AGM RSUs with $175,000 value, shares determined by $39.70 closing price on the business day following the 2024 AGM; vest on the earlier of one year from vesting commencement or the date of the 2025 AGM, subject to continued service .
- Outstanding director RSUs at FY2025 year-end: Acevedo 4,408 RSUs .
- Nature of director equity: time-based RSUs; no disclosed director performance metrics (directors not paid performance bonuses) .
| RSU Detail | FY 2025 |
|---|---|
| Annual RSU grant value (policy) | $175,000 |
| Post-2024 AGM grant mechanics | $175,000 ÷ $39.70 per share; time-based vesting to earlier of 1-year or 2025 AGM |
| RSUs outstanding (Acevedo) | 4,408 |
Other Directorships & Interlocks
- Current public board: Qualcomm (Governance Committee) .
- Compensation committee interlocks: none in FY2025 (no overlapping executive/director roles creating interlocks) .
- Related-party transactions: none above $120,000 involving directors/related persons other than disclosed registration rights; no Acevedo-specific transactions disclosed .
Expertise & Qualifications
- Technical/operating expertise across enterprise software, networking, and hardware from Apple, Autodesk, Ungermann-Bass, Dell; nonprofit CEO experience (GSUSA); public-sector policy exposure (White House Commissioner) .
- Governance leadership: NCG Committee Chair; Lead Independent Director .
- Education: B.S. Industrial Engineering (New Mexico State); M.S. Engineering (Stanford) .
Equity Ownership
| Ownership Item | Detail |
|---|---|
| Beneficial ownership (as of Jul 31, 2025) | 13,272 shares; <1% |
| Breakdown (footnote) | 11,397 outstanding shares + 1,875 RSUs vesting within 60 days |
| Director RSUs outstanding at FY2025 | 4,408 |
| Stock ownership guidelines | Non-employee directors: hold shares equal to 4× annual cash retainer; achieve within 4 years; unvested/unearned awards excluded |
| Hedging/pledging | Company policy prohibits hedging and pledging of company securities |
Governance Assessment
- Strengths:
- Independent leadership: Lead Independent Director role with clearly defined authority; supports robust oversight given combined CEO/Chair structure in 2025 .
- Committee leadership and independence: Chairs NCG, member of Compensation; both committees independent; high committee activity and regular executive sessions indicate engagement .
- Pay structure aligned to equity: Majority of director compensation via RSUs, reinforcing long-term alignment; stock ownership guidelines further strengthen alignment .
- No interlocks/conflicts: No compensation committee interlocks; no related-party transactions involving directors above threshold .
- Broader governance signals: Strong say-on-pay support in prior year (88%) and adoption of clawback and ownership policies; use of independent comp consultant (Compensia) and peer benchmarking .
- Watch items:
- Dual CEO/Chair structure reinstated in 2025; mitigated by empowered Lead Independent Director but merits continued monitoring of board independence dynamics .
- External board at Qualcomm could create perceived commercial interlock risk if Credo becomes a material supplier/customer; no related-party transactions disclosed currently .
Overall, Acevedo’s governance profile is positive: independent leadership, active committee oversight (NCG Chair; Comp member), strong attendance culture, and equity-heavy director pay with ownership requirements bolster investor alignment, with limited conflict indicators disclosed to date .