François Locoh-Donou
Also at F5 Inc
About
François Locoh-Donou was born in Togo and has built a global profile with an impressive educational foundation, earning an engineering degree from École Centrale de Marseille, a Master's degree in Sciences from Télécom ParisTech, and an M.B.A. from the Stanford Graduate School of Business.
Before joining FFIV, he enjoyed a long and distinguished career at Ciena Corporation where he held key leadership positions such as Vice President and General Manager for Europe, Middle East, and Africa, Senior Vice President for the Global Products Group, and Chief Operating Officer.
Since April 2017, he has led FFIV as President, Chief Executive Officer, and Director, driving major strategic initiatives that include a critical shift from datacenter hardware to a software-first approach with an emphasis on multi-cloud application security and delivery. Additionally, his role as a director at Capital One Financial Corporation and his commitment to social enterprises like Cajou Espoir underscore his strong leadership and dedication to both business innovation and social impact.
$FFIV Performance Under François Locoh-Donou
Past Roles
| Organization | Role | Date Range | Details [N/A] |
|---|---|---|---|
| Ciena Corporation | Chief Operating Officer | November 2015 - January 2017 | N/A |
| Ciena Corporation | Senior Vice President, Global Products Group | August 2011 - November 2015 | N/A |
| Ciena Corporation | Vice President and General Manager, Europe, Middle East, and Africa | June 2005 - August 2011 | N/A |
External Roles
| Organization | Role | Date Range [N/A] | Details |
|---|---|---|---|
| Capital One Financial Corporation | Director | N/A | N/A |
| Cajou Espoir | Co-founder and Chairperson | N/A | Social enterprise focused on cashew-processing in rural Togo |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $962,000 | Annually | Fiscal Year 2024 base salary |
| Company 401(k) Contribution | $4,400 | As Provided | Part of All Other Compensation |
| Communication Stipend | $1,200 | As Provided | Part of All Other Compensation |
| High Performing Employee Recognition Trip | $24,767 | As Provided | Includes a tax reimbursement of $6,168 |
Performance Compensation
Annual Cash Incentive Bonus
| Metric | Threshold | Target | Maximum | Actual | Weighting | Details |
|---|---|---|---|---|---|---|
| Revenue | $2,216.0M | $2,770.0M | $5,540.0M | $2,816.1M | 45% | Achieved 101.7% of target |
| Operating Income | $743.2M | $929.0M | $1,858.0M | $945.6M | 45% | Achieved 101.8% of target |
| Diversity & Inclusion | N/A | N/A | N/A | 75.4% | 10% | Includes global, U.S. Black, U.S. Hispanic/Latino(a) and inclusion targets |
- Bonus Opportunity: Target bonus is 130% of the base salary with an actual attainment of 99.1%, but a Compensation Committee-imposed cap limits payout to 50% of target, resulting in a final cash bonus of $625,300.
Performance-Based Equity Awards
| Component | Grant Date | Grant Date Fair Value | RSUs Granted | Vesting Schedule | Performance Criteria/Weighting | Notes |
|---|---|---|---|---|---|---|
| Performance-Based Equity | Nov 1, 2023 | $9,039,124 | 52,989 RSUs | Vests over three years: 1/3 vesting each year for revenue and EPS metrics (cliff vesting after each one-year period); rTSR metric vests 25% in year 1, 25% in year 2, and 50% in year 3 | Metrics include Revenue Growth, EPS, and rTSR with revenue weighted double; maximum performance payout up to 200% | Stock price on grant was $151.92 ; part of aligning executive value with shareholder returns |
This performance compensation structure for 2024 combines a cash incentive bonus with performance-based equity awards. The cash incentive bonus is evaluated based on financial and operational metrics with set thresholds, targets, and a cap on payout, whereas the equity awards are structured around multi-year performance goals with specific vesting schedules and performance conditions.