Klaus A. Engel
CortevaAbout Klaus A. Engel
Klaus A. Engel, Ph.D. (age 68), is an independent director of Corteva and has served on the Board since June 2019. He is a retired CEO with multi-decade leadership across European specialty chemicals and distribution, and currently chairs Corteva’s Sustainability & Innovation (“S&I”) Committee (effective March 1, 2025). His background combines global operations, R&D/innovation oversight, finance/capital management, and sustainability governance; he is an honorary professor at University of Duisburg/Essen and serves on academic advisory bodies in Germany .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Evonik Industries AG | Chief Executive Officer | 2009–2017 | Led global specialty chemicals; oversight of R&D, sustainability and capital allocation |
| Degussa AG (predecessor to Evonik) | Chief Executive Officer | 2006–2009 | Strategic integration and portfolio leadership in chemicals |
| Brenntag AG/Mülheim | Chief Executive Officer | Since 2001 (prior to Evonik/Degussa roles) | Global chemical distribution leadership; operations and market development |
| Chemische Werke Hüls/Marl; VEBA AG; Stinnes AG | Senior roles (R&D, production, marketing, strategy) | Earlier career (dates not specified) | Built multidisciplinary expertise across innovation, operations, and strategy |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| National-Bank, Essen | Supervisory Board Member | 2011–2024 | Banking oversight; risk and governance exposure |
| Ruhr-University Bochum | Advisory Board | Since 2018 | Academic advisory; science/innovation engagement |
| University of Duisburg/Essen | Honorary Professor | Not disclosed | Academic recognition; expertise dissemination |
| Bonner Akademie für angewandte Politik (University of Bonn) | Board of Trustees | Not disclosed | Policy engagement and stakeholder dialogue |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Independent (all nominees except CEO are independent) |
| Current Corteva Committees | Governance & Compliance (member); Sustainability & Innovation (Chair, effective Mar 1, 2025) |
| 2024 Committee Meetings | Audit: 10; People & Compensation: 7; Governance & Compliance: 5; Sustainability & Innovation: 5 |
| Attendance | In 2024, all directors attended >75% of aggregate Board and Committee meetings; all directors attended the 2024 Annual Meeting |
| Executive Sessions | Independent director executive sessions held with each regularly scheduled Board meeting; Chair presides |
| Other Current Public Boards | 0 current public company boards for Engel (besides Corteva) |
| Committee refresh/change | Engel appointed S&I Chair Mar 1, 2025; Johanns replaced Engel on Audit at that time |
| Stock Ownership Guidelines (Directors) | Required: 5x annual cash retainer within 5 years; must hold all equity until guideline met; as of Dec 31, 2024 directors were compliant or on track |
| Anti-hedging/pledging | Executives and directors prohibited from hedging or pledging Corteva securities |
Fixed Compensation (Director)
| Year | Cash Retainer ($) | Committee Chair Fees ($) | Equity Retainer ($) | Notes |
|---|---|---|---|---|
| 2024 | 130,000 | Audit Chair: 35,000; Other Chairs: 25,000 | 170,000 (RSUs) | Equity retainers granted as RSUs; vest on first anniversary |
| Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|
| Klaus A. Engel | 130,000 | 170,252 | 300 | 300,552 |
Performance Compensation (Director)
| Grant Type | Grant Date | Shares/Units | Grant-Date Fair Value ($) | Vesting | Performance Metrics |
|---|---|---|---|---|---|
| Annual RSU (Director Retainer) | Apr 26, 2024 | 3,100 RSUs (each non-employee director) | $170,252 per director (based on $54.92/share) | Vest in full on first anniversary of grant | None; time-based RSUs for directors (no PSUs/options) |
Corteva targets median of its executive peer group for director compensation elements; no meeting fees disclosed; equity is used to align director interests with shareholders .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | 0 (besides Corteva) |
| Prior boards/oversight bodies | National-Bank supervisory board (2011–2024) |
| Academic/non-profit roles | Advisory board (Ruhr-University Bochum), honorary professor (University of Duisburg/Essen), board of trustees (Bonner Akademie) |
| Potential interlocks/conflicts | No related-party transactions involving Engel disclosed; Committee oversight processes for related-party transactions in place |
Expertise & Qualifications
- Former CEO across multiple chemical companies; deep global operations, R&D/innovation, and sustainability governance experience .
- Finance/capital management, accounting literacy; multi-national leadership outside the U.S. .
- Academic advisory and honorary professorship enhancing scientific and technology oversight capabilities .
Equity Ownership
| Holder | Current Shares Beneficially Owned | Rights to Acquire (within window) | Total | % Outstanding |
|---|---|---|---|---|
| Klaus A. Engel | 15,439 | 3,127 | 18,566 | <1% |
- Director stock ownership guideline: 5x annual cash retainer within 5 years; directors were in compliance or on track as of Dec 31, 2024 .
- Hedging and pledging of Corteva securities prohibited for directors .
Governance Assessment
- Board effectiveness: Engel strengthens innovation and sustainability oversight as S&I Committee Chair, with prior CEO experience in R&D-heavy chemicals supporting pipeline scrutiny and climate/biodiversity oversight .
- Independence and attendance: Independent; met attendance expectations alongside peers; participates in independent director executive sessions—supports robust oversight culture .
- Alignment and incentives: Director pay is balanced (cash/equity) at peer-median targets; mandatory ownership guidelines and anti-hedging/pledging enhance skin-in-the-game and investor alignment .
- Conflicts/related parties: No related-party transactions disclosed for Engel; governance policies require independent committee review and preclude participation by interested directors—mitigates conflict risk .
- Shareholder signals: Strong say-on-pay support (~95% in prior year) and ongoing engagement (dialogue with holders of ~40% of common stock) reflect constructive investor relations and compensation governance .
Red flags
- None disclosed specific to Engel: no pledging, no related-party transactions, no low attendance flags; not a member of People & Compensation (reduces potential comp conflicts) .
Contextual positives
- Committee refresh adds Engel as S&I Chair, focusing on innovation pipeline, climate/biodiversity targets, and sustainability reporting—areas materially relevant to Corteva’s long-term valuation drivers .