Anita George
FIRST SOLARAbout Anita Marangoly George
Independent director of First Solar since 2021; age 64. She is a member of the Technology Committee and has been affirmed independent by the Board, with specific review of related-party matters tied to her spouse’s interests and an immediate family member’s employment; the Board concluded these do not impair independence due to immateriality and audit committee oversight . Background spans climate and infrastructure finance leadership at CDPQ (Deputy Head of CDPQ Global) and 22 years at the World Bank Group/IFC; co-founder of climate growth equity fund, Prosperete; education includes master’s degrees in Economic Policy and MBA (Boston University), BA (Smith College); honorary doctorates recognizing sustainability work .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CDPQ (Caisse de Dépôt et Placement du Québec) | Managing Director South Asia; EVP & Head of Emerging Markets & Strategic Partnerships; EVP, Deputy Head of CDPQ Global | 2016–Jun 2021 | Led EM strategy and partnerships; senior leadership at large global pension investor |
| World Bank Group | Senior Director, Global Practice Energy & Extractives | Jun 2014–2016 | Led global Energy, Oil & Gas, Mining practice; steered climate-related global agreements |
| IFC (World Bank Group) | Global Co-Director Infrastructure; Regional Director APAC, Infrastructure & Natural Resources | 2000–2014 | Sustainable infrastructure investments across geographies |
| Prosperete | Co-founder | Not disclosed | Climate-focused growth equity fund leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Tata Sons | Independent Non-Executive Director | Appointed Jul 2022 | Holding company of Tata Group |
| Piramal Enterprises Limited | Independent Non-Executive Director | Not disclosed | Indian public company (financial services/pharma) |
| Pearson College (UWC), BC, Canada | Board member | Current | Education non-profit |
| Indo-Canadian Business Chamber | Board member; past President | President 2020–2022; current board | Trade/investment non-profit |
| TalentNomics India | Board member | Current | Women’s empowerment non-profit |
| Advisory Boards/Councils | SEWA Resilience Recovery Fund; Women in Private Equity; IIT Kanpur Energy Transition Center; UC Berkeley India Energy and Climate Center; International Solar Alliance Financial Advisory Council | Current | Energy/climate and finance advisory roles |
Board Governance
- Committee assignments: Technology Committee member; no chair roles .
- Independence: Confirmed independent under Nasdaq/SEC and company guidelines; Board reviewed EEIPL/SSA and immediate family employment and found immaterial and appropriately controlled .
- Attendance/engagement: Board held 5 meetings in 2024; every director attended at least 75% of board/committee meetings, with ~95% average attendance; Technology Committee held 5 meetings in 2024; 7 directors attended the May 8, 2024 annual meeting .
- Lead Independent Director: William J. Post; oversees agendas/executive sessions; provides liaison with shareholders .
Fixed Compensation
| Component | 2024 Amount | Detail |
|---|---|---|
| Annual cash retainer | $100,000 | Paid quarterly |
| Annual equity (fully vested stock) | $180,428 | Granted quarterly; fully vested at grant |
| Total | $280,428 | — |
| Additional chair/lead fees | None disclosed for George | Chair/lead fee schedule exists; not applicable to George |
- Director ownership guideline: 5x cash retainer ($500,000 value); 5-year compliance window; as of Dec 31, 2024 all non-associate directors either met or were on track .
Performance Compensation
- No performance-based equity or options for non-associate directors; equity is fully vested common stock upon grant; no perquisites or meeting fees disclosed for directors .
Other Directorships & Interlocks
- Public boards: Tata Sons (holding company) and Piramal Enterprises Limited; no disclosed interlocks with First Solar customers/suppliers .
- Non-profit/academic boards and energy/climate advisory roles could enhance sector insight for FSLR’s India manufacturing and global expansion .
Expertise & Qualifications
- Core expertise: Infrastructure/climate finance, sovereign/multilateral engagement, emerging markets, sustainability; Board skills matrix shows public company board, executive, financial, risk, operations/strategy, technology, manufacturing/renewables, public policy/academia, and M&A capabilities .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Anita Marangoly George | 3,875 | ~0.0036% (3,875 ÷ 107,240,417) | Less than 1% per proxy; directors subject to 5x retainer guideline |
- Vested vs unvested: Director grants are fully vested stock at issuance; no RSUs/options disclosed for directors .
- Hedging/pledging: Company policy prohibits short sales, derivatives, and margin purchases by directors; pledging not explicitly addressed in proxy .
Governance Assessment
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Strengths:
- Independent status affirmed despite related-party touchpoints; audit committee oversight and immateriality determinations reduce conflict risk .
- Deep climate/infrastructure finance background aligns with FSLR’s global manufacturing and India expansion; Technology Committee role supports product roadmap oversight .
- Strong board-level attendance norms and active committee cadence; transparent director pay structure with equity alignment and ownership guidelines .
- Compensation governance: Use of independent consultant (WTW), annual independence review, no director perquisites; robust insider trading/hedging policy .
- Shareholder signals: 2024 say-on-pay approved by >94%, suggesting broad investor support for compensation philosophy .
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Potential RED FLAGS / monitoring areas:
- Related-party transactions: Consultancy with SSA (spouse is director; total expected price ~$160,000; $43,000 incurred in 2024) and employment of immediate family member ($167,000 compensation in 2024); services agreement with EEIPL (spouse ownership interests; ~$4,800 expected annually; no services in 2024). While approved by audit committee and deemed not impairing independence, these warrant ongoing monitoring for scope creep/materiality changes .
- Equity ownership: Beneficial ownership is small in percentage terms; guideline requires value-based holdings, and proxy indicates all directors met or were on track; continued verification of compliance is prudent .
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Overall: Governance structures and independence evaluations are robust; committee placement aligns with her expertise. Related-party exposures are presently immaterial with appropriate controls, but they remain a discrete confidence-sensitive area for investors and should be tracked through future proxies and audit committee disclosures .