Savannah Sachs
About Savannah Sachs
Savannah Sachs (age 38) is an independent director of General American Investors Company, Inc. (GAM) since 2020. She is the Chief Executive Officer of Eighth Day (2024–present) and formerly served as CEO of Tula Skincare (2018–2023). She holds an undergraduate degree from Princeton University and an MBA from Harvard Business School, where she was a Baker Scholar .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tula Skincare / Tula Life Inc. | Chief Executive Officer | 2018–2023 | Led consumer skincare brand operations; digital and omnichannel growth focus |
| Birchbox | Director of International Brand Partnerships; UK Managing Director & GM; Chief Operating Officer | Not disclosed (pre‑2018) | Senior management across merchandising, marketing, brand management, and operations |
| Booz & Company | Management Consultant | Not disclosed | Advised Fortune 500 clients in retail, personal care, pharma, and financial services |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Eighth Day | Chief Executive Officer | 2024–present | Luxury high‑tech skincare brand |
| Public company boards | None | N/A | No other public company directorships |
Board Governance
- Independence: All directors other than the CEO (Jeffrey W. Priest) are independent; independent directors chair all committees. Sachs is independent .
- Committees and chairs:
- Audit Committee: Member; chaired by John D. Gordan, III; met four times in 2024 (Jan 24, Feb 16, Jul 24, Dec 4) and once on Feb 12, 2025. Company states it does not have an “audit committee financial expert”; members deemed to have sufficient financial expertise .
- Nominating Committee: Member; chaired by Arthur G. Altschul, Jr.; met once in 2024 (Jan 24) and once on Feb 12, 2025 .
- Other committees: Compensation (Altschul chair; Davidson, Lynch), Executive (Davidson chair; Gordan), Pension (Davidson chair; Del Villar, Gordan, Gotbaum, Lynch). Sachs is not a member of Compensation, Executive, or Pension Committees .
- Attendance: The Board held eight meetings in 2024; each director attended at least 75% of board and applicable committee meetings. All directors participated in the April 8, 2024 annual meeting (in person or telephonically) .
Fixed Compensation
| Item | 2024 Amount/Terms |
|---|---|
| Annual director retainer (cash) | $30,000 |
| Meeting fee (cash) | $1,250 per Board or Committee meeting attended |
| Savannah Sachs aggregate director compensation (cash) | $46,250 |
Performance Compensation
| Component | Detail |
|---|---|
| Equity grants (RSUs/PSUs/options) | None disclosed for directors; proxy lists only cash retainers and meeting fees for directors |
| Performance metrics tied to director pay | None disclosed |
| Clawbacks/COC/severance for directors | Not disclosed |
Other Directorships & Interlocks
| Company/Institution | Role | Committee Positions | Interlock/Conflict Notes |
|---|---|---|---|
| None (public company boards) | N/A | N/A | No public company directorships disclosed |
| Eighth Day (private) | CEO | N/A | No GAM‑related transactions disclosed; no related‑party items referencing Sachs found in reviewed proxy sections |
Expertise & Qualifications
- Consumer/beauty operating executive with U.S. and international experience; senior roles across merchandising, marketing, brand, and operations .
- Education: Princeton (undergraduate); Harvard Business School MBA, Baker Scholar .
- Board skills emphasized: ability to exercise independent business judgment, interact with auditors and service providers, and oversee risk/compliance; applies to all directors including Sachs .
Equity Ownership
| Year-End | Filing Type | Common Shares Beneficially Owned | Note |
|---|---|---|---|
| 2020 | Form 3 | 0 | “No securities are beneficially owned.” Filed 01/04/2021 |
| 2021 | Form 5 | 0 | “No shares beneficially owned.” Filed 01/20/2022 |
| 2022 | Form 5 | 0 | “No shares beneficially owned.” Filed 02/07/2023 |
| 2023 | Form 5 | 0 | “No Shares Beneficially Owned.” Filed 01/29/2024 |
| 2024 | Form 5 | 0 | “No Shares Beneficially Owned.” Filed 02/04/2025 |
| 2024 (dollar range) | Proxy | None | Director share ownership dollar range: “None” for Savannah Sachs as of 12/31/2024 |
Shareholder Support at Elections
| Annual Meeting | Votes For | Votes Withheld |
|---|---|---|
| 2021 (Apr 28) | 24,710,523 | 1,518,773 |
| 2022 (Apr 20) | 24,570,757 | 1,478,335 |
| 2023 (Apr 26) | 23,774,594 | 2,478,966 |
| 2024 (Apr 8) | 23,490,410 | 2,091,704 |
Insider Trades and Filings
| Date Filed | Form | Summary |
|---|---|---|
| 01/04/2021 | Form 3 | Initial statement of beneficial ownership; “No securities are beneficially owned.” |
| 02/05/2021 | Form 5 | Annual statement; “No shares beneficially owned.” (FY2020) |
| 01/20/2022 | Form 5 | Annual statement; “No shares beneficially owned.” (FY2021) |
| 02/07/2023 | Form 5 | Annual statement; “No shares beneficially owned.” (FY2022) |
| 01/29/2024 | Form 5 | Annual statement; “No Shares Beneficially Owned.” (FY2023) |
| 02/04/2025 | Form 5 | Annual statement; “No Shares Beneficially Owned.” (FY2024) |
Governance Assessment
- Independence and committee engagement: Sachs is independent and serves on both Audit and Nominating Committees—key governance bodies; Audit met four times in 2024 and Nominating met at least once, indicating active oversight cadence .
- Attendance and shareholder engagement: Board met eight times in 2024 and each director met the ≥75% attendance threshold; all directors attended the 2024 annual meeting, signaling baseline engagement .
- Compensation alignment: Director pay is entirely cash-based (annual retainer and per‑meeting fees). No equity grants or performance‑linked components for directors are disclosed, limiting direct alignment with shareholder returns .
- Ownership alignment: Sachs reported zero beneficial ownership of GAM across 2020–2024 and is listed in the proxy with “None” for director dollar‑range ownership as of 12/31/2024—indicative of minimal skin‑in‑the‑game from a share ownership standpoint .
- Committee expertise signal: GAM states it does not have an audit committee financial expert, though members (including Sachs) are considered to have sufficient financial expertise. This is a governance consideration for investors evaluating audit oversight depth .
RED FLAGS
- No beneficial ownership and no disclosed director equity awards reduce ownership alignment and may be viewed negatively by governance‑focused investors .
- Absence of a designated audit committee financial expert could be a weakness in financial reporting oversight despite stated member expertise .
Positive Signals
- Consistent shareholder support at annual elections over multiple years and committee participation in core governance areas (Audit/Nominating) support board effectiveness .
Notes on Compensation Committee Practices
- The Compensation Committee is composed entirely of independent directors (Altschul—Chair, Davidson, Lynch). It reviews company performance, officer contributions, comparable company data, and information from an external data provider; it met once in 2024 (Dec 4) . No use of a named independent compensation consultant was disclosed .