Kimberly T. Scott
GREIFAbout Kimberly T. Scott
Kimberly T. Scott (age 52) has served as an independent director of Greif, Inc. since 2022 and is President & CEO of Vestis Corporation (NYSE: VSTS) since October 2021, with deep operating experience across manufacturing, supply chain, logistics, and global markets from prior senior roles at Terminix, Rubicon Global, and Brambles/CHEP North America . She serves on Greif’s Compensation and Nominating & Corporate Governance Committees and is considered independent by the Board under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Vestis Corporation | President & CEO | Oct 2021–present | Uniform services operator; manufacturing, operations, logistics oversight |
| Terminix Global Holdings | COO; President, Terminix Residential | Jan 2021–Sep 2021; Dec 2019–Jan 2021 | Residential/commercial services; operations leadership |
| Rubicon Global Holdings | President | Jul 2018–Sep 2019 | Cloud-based waste/recycling solutions; strategy and execution |
| Brambles Limited / CHEP North America | Various leadership roles incl. President, CHEP North America | >5 years (prior to 2018) | Reusable pallets/containers; supply chain, global markets |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Vestis Corporation (NYSE) | Director | Current | Current public company board service |
| Rubicon Global Holdings | Director/Board Service | Past | Non-public company |
| U.S. Chamber of Commerce | Board/Leadership | Past | Policy/advocacy body |
| Wharton Initiative for Global Environment Leadership | Advisory/Board role | Past | Academic/ESG initiative |
Board Governance
- Committee assignments: Compensation Committee member; Nominating & Corporate Governance Committee member .
- Committee meeting cadence FY2024: Compensation (7); Nominating (4) .
- Independence: Board-determined independent under NYSE rules; Vestis vendor relationship immaterial (<$15,000) and disclosed .
- Attendance: Board held 5 meetings; all incumbent directors attended at least 75% of Board and committee meetings; all nominees attended the 2024 annual meeting .
- Executive sessions: Independent/non-management directors meet at least four times per year, including executive sessions .
| Committee | Role | FY2024 Meetings | Notes |
|---|---|---|---|
| Compensation | Member | 7 | Oversees CEO/exec comp, plan design, outside director pay; uses independent consultant |
| Nominating & Corporate Governance | Member | 4 | Board composition, ESG oversight, succession planning |
Fixed Compensation
| Component (FY2024) | Detail | Amount ($) |
|---|---|---|
| Fees (cash) | Board/committee fees actually paid | 116,307 |
| Equity (restricted Class A shares) | Annual outside director grant; ~2,247 shares at $63.17 (Feb 23, 2024) | 141,943 |
| Total FY2024 | Cash + Equity | 258,250 |
Director compensation structure (policy-level):
- Annual cash retainer: $100,000 for outside directors; committee retainers: Compensation $10,000 (member), Nominating $5,000 (member); Audit $10,000; Chair retainers: Audit $20,000; Compensation $20,000; Nominating $15,000 .
- Annual equity award: ~$142,000 in restricted Class A shares after the annual meeting; fully vested on grant; three-year transfer restrictions; dividends paid; no stock options to outside directors since 2005 .
Performance Compensation
- Outside directors receive no performance-based pay; equity is time-based and fully vested at grant with transfer restrictions; there are no director options or PSU/TSR metrics for directors .
Other Directorships & Interlocks
| Relationship | Nature | FY2024 Amount | Governance Treatment |
|---|---|---|---|
| Vestis Corporation (supplier) | Greif purchased uniform services from Vestis, where Scott is CEO | < $15,000 | Reviewed under related party policy; immaterial; independence affirmed |
- Related party transaction policy: Audit Committee reviews and approves transactions ≥ $5,000; Nominating Committee reviews governance implications .
Expertise & Qualifications
- Manufacturing, supply chain, operations, logistics; strategic planning; global markets; customer service; environmental and risk management; M&A .
Equity Ownership
| Category | Shares | Percent of Class |
|---|---|---|
| Class A beneficially owned | 6,732 | <1% |
| Restricted shares held in rabbi trust (deferred under Directors Deferred Compensation Plan) | 4,263 | n/a (subset of beneficial ownership accounting) |
- Director stock ownership guidelines: Minimum 5x annual retainer within five years; Board states all outside directors are in compliance .
- Deferred Compensation: Directors may defer 25–100% of fees and/or restricted stock; restricted stock deferrals held in a rabbi trust; phantom shares accrue dividends; distribution elections per plan .
- Options/pledging: No outside director stock options outstanding; no pledges disclosed for Scott in beneficial ownership table (pledges disclosed for certain other holders) .
Governance Assessment
- Strengths: Independent director with deep operating and logistics expertise; dual committee membership (Compensation and Nominating) enhances oversight of pay design and ESG/governance; attendance compliance; ownership guideline compliance; transparent related-party disclosures; use of independent compensation consultant (WTW) with independence assessment .
- Potential watchpoints: Supplier relationship with Vestis (CEO role) creates a related-party touchpoint—small and disclosed, but monitor for scope/amount changes over time; ensure continued immateriality and Audit Committee review documentation; watch for any deferral/ownership concentration effects via rabbi trust .
RED FLAGS: None evident from FY2024 disclosures (no Section 16(a) delinquencies for Scott; no director options/repricings; no pledging by Scott disclosed; related-party amount immaterial) .