Patrick Grismer
DECKERS OUTDOORAbout Patrick J. Grismer
Patrick J. Grismer, age 63, is a retired corporate finance executive and 2025 director nominee at Deckers Outdoor Corporation (Deckers). He is expected to serve on the Audit & Risk Management Committee upon election and has been determined “independent” under NYSE rules; nine of ten directors are independent if all nominees are elected . Grismer holds an MBA in Finance and Marketing from Northwestern University’s Kellogg Graduate School of Management and has served as CFO at Starbucks (2018–2021) and Hyatt (2016–2018), with prior senior roles at Yum! Brands and The Walt Disney Company .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Starbucks Coffee Company (NASDAQ: SBUX) | EVP & CFO | Nov 2018 – Feb 2021 | Led global finance; premium branding exposure . |
| Hyatt Hotels Corporation (NYSE: H) | EVP & CFO | Mar 2016 – Nov 2018 | Corporate finance leadership; global operations . |
| Yum! Brands, Inc. (NYSE: YUM) | Multiple executive roles incl. CFO | ~14 years (prior to 2016) | Strategic planning/M&A and supply chain exposure . |
| The Walt Disney Company | CFO, Disney Vacation Club; VP Strategic Planning, Disneyland Resort | Prior to Yum tenure | Corporate planning; brand and international exposure . |
| PricewaterhouseCoopers | Management Consultant | Early career | Foundational financial advisory experience . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Krispy Kreme, Inc. (NASDAQ: DNUT) | Director | Appointed Jun 2025 | Audit Committee member . |
| Panera Brands (parent of Panera Bread, Einstein Bros. Bagels, Caribou Coffee) | Director | Sep 2022 – May 2025 | Audit Committee Chair for part of tenure . |
Board Governance
- Independence: Deckers states each director nominee other than the CEO is independent; committees comprise only independent directors. Grismer is an independent nominee slated for Audit & Risk Management membership .
- Committee assignment: Anticipated member, Audit & Risk Management Committee (ARMC) upon election; ARMC held 10 meetings in FY25 and oversees financial reporting, internal audit, compliance, related-party transactions, and enterprise risk, including cybersecurity .
- Board activity: Board met 6 times in FY25; independent directors hold executive sessions at every Board meeting; all directors are expected to attend annual meetings (all attended in 2024) .
- Leadership: Independent Chair of the Board (Cynthia L. Davis) since May 2025; committee chairs: ARMC (Juan R. Figuereo), Talent & Compensation (Victor Luis), Corporate Responsibility, Sustainability & Governance (Bonita C. Stewart) .
- Talent & Compensation Committee interlocks: None disclosed; no member served as an officer of Deckers in past year; no related transactions requiring disclosure .
Fixed Compensation
Deckers’ FY25 Nonemployee Director compensation program (typical structure expected to apply to Grismer upon election):
| Component | Amount/Structure | Notes |
|---|---|---|
| Annual Board cash retainer | $90,000 | Director may elect to receive shares instead of cash . |
| Committee membership fee | $10,000 per committee | Paid in cash or shares, at director election . |
| Chair retainers | Board Chair: $200,000; ARMC Chair: $40,000; Talent & Compensation Chair: $35,000; CRSG Chair: $27,500 | Applies to designated chair roles . |
| Equity compensation | ~$170,000 in common stock annually, issued quarterly and fully vested at grant | Many directors elect retainers in stock; valuation uses 10‑day rolling average . |
| Expenses/perquisites | Board-related expense reimbursement; product discounts | Standard, similar to employees . |
| Ownership guidelines | 5x annual Board cash retainer, met within five years | All directors compliant as of FY25 (pre‑election for Grismer) . |
Performance Compensation
Director compensation at Deckers is not performance‑based; annual stock grants are fully vested upon issuance and retainers can be paid in stock. No director performance metrics (e.g., revenue, EBITDA, TSR) apply to Board pay .
| Metric | Applicability to Director Compensation |
|---|---|
| Revenue, Operating Income, Pre‑Tax Income | Not used for director compensation (applies to executive pay programs) . |
| TSR modifiers | Not applicable to directors; used for executive LTIP PSU awards . |
Other Directorships & Interlocks
| Company | Industry Link to Deckers | Role | Potential Interlocks/Conflicts |
|---|---|---|---|
| Krispy Kreme (DNUT) | Food & beverage; no direct overlap with footwear/apparel | Director; Audit Committee | No supplier/customer overlap disclosed; low conflict risk . |
| Panera Brands | Food retail; private | Former Director; Audit Chair | No Deckers transactions disclosed; low conflict risk . |
Expertise & Qualifications
- Financial expertise: Multi‑company CFO; audit chair experience; high level of financial literacy. Strong fit for ARMC oversight of reporting, internal controls, and risk .
- Premium brands/international: Senior roles at Starbucks, Hyatt, Disney; deep experience with global premium consumer brands and operations .
- Supply chain/compliance/risk: Exposure across global supply chains and corporate compliance; relevant to ARMC’s enterprise risk and cybersecurity oversight .
Equity Ownership
| Holder | Shares Beneficially Owned at Deckers | % Outstanding | Notes |
|---|---|---|---|
| Patrick J. Grismer | — (no ownership reported) | — | As of June 30, 2025, Grismer was a nominee; ownership reporting shows “—”. Directors must reach 5x cash retainer over five years; hedging/pledging prohibited . |
Governance Assessment
- Strengths: Independent nominee with deep CFO/audit credentials; slated for ARMC membership. Deckers’ governance includes majority independent board, independent chair, annual director elections, robust risk oversight, clawback policy, and prohibition on hedging/pledging; no tax gross‑ups or option repricing are permitted .
- Alignment: Director stock ownership guidelines (5x cash retainer) promote skin‑in‑the‑game; equity paid to directors is fully vested stock, increasing immediate exposure to shareholder outcomes .
- Conflicts/Related Parties: No related‑party transactions involving Grismer disclosed; overall related‑party oversight sits with ARMC. Only disclosed related item concerned an employee related to Director Shanahan, with safeguards in place .
- Attendance/Engagement: Board met 6 times; ARMC met 10 times in FY25; independent director executive sessions each Board meeting. Grismer’s DECK attendance is not applicable pre‑election; directors are expected to attend annual meetings .
- Shareholder signals: Say‑on‑pay support was 92.3% (2024) and 95.7% (2023), indicating strong investor approval of compensation governance .
RED FLAGS: None identified specific to Grismer. Monitoring items: initial lack of DECK share ownership pre‑election (nominee status) and future compliance with 5x retainer ownership guideline; maintain vigilance for any new interlocks/transactions post‑election .