Lori Hoersch
About Lori Hoersch
Lori Hoersch, age 62, is an independent director of EWSB Bancorp and East Wisconsin Savings Bank, serving since 2020; she is Chief People Officer at U.S. Venture, Inc., bringing deep HR leadership experience in talent, culture, and compensation to the board . She beneficially owns 20,000 shares (2.66% of outstanding) held via a trust, providing meaningful alignment with stockholders . EWSB prohibits director/officer hedging and generally prohibits pledging (with no exceptions approved), further reinforcing alignment .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Venture, Inc. | Chief People Officer; VP, Human Resources | 2008–present | Leads HR strategy across training, recruitment, total rewards, safety/security, and shared services |
| Plexus Corp. | Director of Human Resources | 1991–2008 | Directed global HR (compensation, benefits, leadership development, recruiting) for 70+ HR staff |
| Mills Fleet Farm | Corporate Personnel Assistant Manager | 1984–1991 | Led recruiting and benefits plan design/administration across 26 store teams |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| U.S. Venture, Inc. | Chief People Officer | 2008–present | Executive leadership role in privately held energy products distributor (Appleton, WI) |
| US Venture Associates Caring Together Fund Inc (501c3) | Principal Officer | 2016–present | Employee relief nonprofit affiliated with U.S. Venture; principal officer listed as Lori Hoersch |
Board Governance
- Independence: Board determined Hoersch is independent under Nasdaq standards (only the CEO Schmalz and former CFO Dorow are non-independent) .
- Committee leadership: Chair, Compensation Committee; member composition is entirely independent .
- Committee assignments and meetings: see table below; no director attended fewer than 75% of board and committee meetings in 2024 .
- Board structure: Combined Chair/CEO with a Lead Independent Director (Kenneth Demerath); independent director executive sessions at least twice per year .
| Committee | Role | 2024 Meetings | Notes |
|---|---|---|---|
| Compensation Committee | Chair | 2 | Oversees executive and director compensation; CEO performance review; comp programs |
| Audit Committee | — | 1 | All members meet SEC independence; Dorow sits as non-independent per Nasdaq allowance |
| Governance & Nominating Committee | — | — | Leads Board performance reviews and nominations; charters posted online |
Fixed Compensation
| Year | Annual Retainer / Cash Fees ($) | Committee Chair Fees ($) | Meeting Fees ($) | Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | 28,500 | Not separately disclosed in proxy | Not disclosed | — | 28,500 |
- Deferred Fee Plan available: Directors may elect to defer fees; deferred amounts earn interest at a Board-determined rate; payout upon separation or specified age in lump sum or installments .
Performance Compensation
| Element | Status | 2024 Details |
|---|---|---|
| Stock awards (RSUs/PSUs/DSUs) | None disclosed for directors | Directors’ compensation table shows only cash fees, no stock or option awards |
| Stock options | Not historically granted; none in 2024 | Company policy states options not historically granted; none granted in 2024 |
| Performance metrics (TSR, revenue, EBITDA, ESG) | Not applicable to directors | No performance-linked pay disclosed for directors |
| Clawbacks / Hedging / Pledging | Anti-hedging; pledging generally prohibited | No pledging exceptions approved by Board |
Other Directorships & Interlocks
| Company | Type | Role | Committee Positions | Notes |
|---|---|---|---|---|
| None disclosed in proxy | Public company | — | — | Proxy biography lists current employment but no other public boards for Hoersch |
| Regional/business affiliations | Private/nonprofit | See External Roles | — | No related-party transactions requiring disclosure involving directors were reported; director/officer loans were ordinary course on market terms and performing |
Expertise & Qualifications
- Human capital leadership: Decades of HR experience across compensation design, benefits, leadership development, recruiting, and culture; Chief People Officer at U.S. Venture .
- Education and certifications: BA in Business Management (Concordia University–Wisconsin, 2005–2008); SPHR (1998), CCP (WorldatWork), LEAN Green Belt (Plexus), PROFILOR multi-rater certification .
- Local market knowledge: Executive based in Appleton, WI, aligning with EWSB’s regional footprint .
Equity Ownership
| Holder | Shares | % Outstanding | Ownership Form | Notes |
|---|---|---|---|---|
| Lori Hoersch | 20,000 | 2.66% (based on 752,538 shares) | Held via trust | Anti-hedging and pledging restrictions; no pledging exceptions approved |
- Outstanding shares at record date: 752,538 .
- No director attended fewer than 75% of board/committee meetings (engagement) .
Governance Assessment
- Strengths: Independent director with deep HR/compensation expertise chairs the Compensation Committee, supporting pay-for-performance discipline, talent oversight, and CEO evaluation; strong alignment via 2.66% beneficial ownership held in trust; robust anti-hedging/pledging policies enhance investor alignment .
- Potential concerns: Combined Chair/CEO structure can reduce independent counterbalance, partially mitigated by Lead Independent Director and regular executive sessions of independent directors . Limited disclosure on director equity grants suggests director pay is primarily cash—good for independence but may limit long-term equity alignment at the board level .
- Conflicts/related-party exposure: No related-party transactions requiring disclosure; director/officer loans were ordinary course on market terms; no pledging exceptions approved—no red flags identified .