Frederick Lowery
Director at DD
Board
About Frederick M. Lowery
Frederick M. Lowery (age 54) has served on DuPont’s Board since 2019. He is Executive Vice President and President, Laboratory Products and BioProduction at Thermo Fisher Scientific Inc. (since April 2024), and brings engineering/science, manufacturing, and global supply chain expertise. DuPont classifies him as an independent director; all incumbent directors attended more than 75% of Board and committee meetings in 2024.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Thermo Fisher Scientific Inc. | Executive Vice President & President, Laboratory Products and BioProduction | Apr 2024–present | Senior leadership across life sciences/lab products; prior roles included President, Life Sciences Solutions & Laboratory Products; SVP & President, Customer Channels (2021–2024) |
| Maytag Corporation | Various roles | 1999–2005 | Commercial/ops experience |
| General Motors Company | Engineer (career start) | n/a | Technical foundation |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Boston Medical Center | Board of Trustees | n/a | Non-profit governance |
| Tennessee Tech University & Tennessee Tech Foundation | Board of Trustees | n/a | Higher-ed/non-profit governance |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Independent director (Board determined all nominees except Mr. Breen and Ms. Koch are independent) |
| DuPont Board tenure | Director since 2019 |
| 2024 attendance | All incumbent directors >75% of Board and committee meetings; Board met 12x; committees 24x in 2024; 9 executive sessions held |
| Committee assignments (2025 Proxy date) | People & Compensation Committee (Chair); Environment, Health, Safety & Sustainability (member) |
| Committee meeting counts (2024) | People & Compensation: 6; EHS&S: 5 |
| Lead roles | Chair of People & Compensation Committee; signed Committee Report |
| Policies | Directors must hold Company-granted shares until retirement; directors/executives prohibited from hedging/pledging |
Fixed Compensation (Director)
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $130,000 | Standard non-employee director cash retainer |
| Committee Chair fee | $25,000 | People & Compensation Committee Chair |
| Total cash (2024) | $155,000 | As reported for Mr. Lowery |
| Equity retainer (grant date fair value) | $170,028 | RSUs granted June 5, 2024 at $80.62/share |
| All other compensation | $300 | Insurance/legacy charitable accruals |
| Total 2024 director compensation | $325,328 | Sum of above |
Peer benchmarking: DuPont targets median of its executive comp peer group for director pay design; same peer set used for executives.
Performance Compensation (Director equity program design)
| Item | Detail |
|---|---|
| 2024 director RSU grant | 2,109 RSUs per non-employee director (June 2024) |
| Grant-date fair value | $170,028 for all non-employee directors (June 5, 2024; $80.62/share) |
| Vesting / holding | Directors are generally required to hold all equity awards until retirement |
| Initial stock grant (new directors) | One-time 1,000 shares at first meeting; must hold net shares until board departure (min 55% of gross) |
| Performance metrics | None (time-based/retention for directors; no performance conditions disclosed) |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other current public company boards (Lowery) | None |
| Notable network tie | Ruby R. Chandy, a DuPont director, serves on Thermo Fisher’s board; Mr. Lowery is a Thermo Fisher executive (governance interlock across entities) |
| Outside board service limits | DuPont guideline: executive officers of public companies may serve on at most three public company boards (including their employer’s board); Mr. Lowery serves on one (DuPont) per disclosure |
Related-party/transaction oversight: DuPont reviews related person transactions; for companies employing directors/executives or their family, purchases/sales were below $1,000,000 or 2% of each party’s revenues and deemed not material; ordinary course.
Expertise & Qualifications
- Science/engineering background with significant manufacturing and global supply chain leadership; developed operating teams, launched innovative products, executed M&A.
- Brings domain perspective in life sciences/lab products alongside senior management experience.
Equity Ownership
| Metric | Amount | As-of | Note |
|---|---|---|---|
| Current shares beneficially owned | 1,000 | Mar 14, 2025 | Direct/indirect per proxy |
| Rights to acquire (within 60 days) | 28,057 | Mar 14, 2025 | Includes equity units counted as “rights to acquire” per proxy methodology |
| Total beneficial ownership | 29,057 | Mar 14, 2025 | Less than 1% of shares outstanding |
| Outstanding stock awards (director) | 16,087 | Dec 31, 2024 | RSUs outstanding |
| Anti-hedging/pledging | Prohibited for directors and executives | ||
| Director stock holding policy | Must hold Company-granted shares until retirement |
Governance Assessment
- Committee leadership: As Chair of the People & Compensation Committee, Lowery oversaw 2024 executive pay decisions (including STIP structure, PSU design, and 2022 PSU payout factor of 84.67%) with robust use of performance metrics and a TSR modifier.
- Shareholder alignment: 2024 Say-on-Pay support was 82.6%, indicating broad but not overwhelming investor approval; continued dialogue advisable.
- Process quality: Committee retains independent consultant FW Cook; Board asserts no consultant conflicts; strong clawback, anti-hedging/pledging, and stock ownership requirements.
- Independence & attendance: Independent director with committee roles confined to independent committees; incumbents exceeded 75% attendance; nine executive sessions in 2024.
- Compensation alignment (director): Balanced cash/equity mix with equity held until retirement enhances alignment; Lowery’s 2024 total director comp $325,328 (cash + equity) is consistent with peer-median targeting.
- Potential conflicts/interlocks: Notable network tie given Lowery’s Thermo Fisher executive role and another DuPont director’s Thermo Fisher board service. DuPont’s related-party oversight and immateriality thresholds mitigate risk; continue monitoring for any DuPont–Thermo Fisher transactions and recusal practices.
Insider Trades and Section 16(a) Compliance
| Item | Status |
|---|---|
| Section 16(a) compliance (2024) | Company states all reporting persons complied except one late report each by Jon Kemp and Leland Weaver; no late filings cited for Mr. Lowery. |
Note: Form 4 transaction details for Mr. Lowery are not disclosed in the proxy; Section 16(a) compliance implies timely reporting in 2024 for Mr. Lowery.
Key Signals for Investors
- Strengths: Independent director leading Compensation Committee with demonstrated pay-for-performance constructs; equity-holding until retirement and anti-hedge/pledge policies enhance alignment; solid Say-on-Pay support.
- Watch items: Cross-entity interlock with Thermo Fisher via another DuPont director; maintain scrutiny on any related transactions and ensure continued adherence to recusal/oversight protocols.