Chad Lindbloom
About Chad M. Lindbloom
Independent director (age 60), serving on Global Industrial Company’s board since 2017. Former CIO and CFO of C.H. Robinson Worldwide, with deep financial reporting, audit, and logistics expertise; designated as an Audit Committee Financial Expert. Education: BS and MBA, Carlson School of Management, University of Minnesota. Committees: Audit (Chair), Compensation (Chair), Nominating/Corporate Governance (Member) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| C.H. Robinson Worldwide, Inc. | Chief Information Officer; Chief Financial Officer; Controller | 1990–2018 | Led finance, accounting, and IT; builds credibility as Audit Committee Financial Expert |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No current public company directorships disclosed; company states directors are not overboarded (no more than one other public board) . |
Board Governance
- Independence: Board determined Lindbloom is independent under NYSE and SEC rules; also designated Audit Committee Financial Expert .
- Committee leadership: Audit Committee (13 meetings in 2024) and Compensation Committee (5 meetings) chaired by Lindbloom; member of Nominating/Corporate Governance Committee (4 meetings) .
- Attendance and engagement: Board met 12 times in 2024; all directors attended at least 75% of Board and applicable committee meetings; all directors attended the 2024 annual meeting .
- Executive sessions and leadership: Independent directors meet at least quarterly; Lead Independent Director is Robert D. Rosenthal .
- Risk oversight: Audit Committee oversees cybersecurity and AI as recurring agenda items (formalized in Feb 2023 and Aug 2024 respectively) .
Fixed Compensation
| Component (FY2024) | Amount ($) | Notes |
|---|---|---|
| Annual Board Cash Retainer | 70,000 | Paid quarterly |
| Audit Committee Chair Retainer | 20,000 | Paid quarterly |
| Compensation Committee Chair Retainer | 10,000 | Paid quarterly |
| Nominating/Corporate Governance Committee Member Retainer | 5,000 | Paid quarterly |
| Total Fees Earned or Paid in Cash (FY2024) | 105,000 | Matches component sum |
| Other Compensation (Dividend equivalents on unvested RSUs) | 3,507 | Dividend equivalents paid on unvested RSUs |
Performance Compensation
| Equity Component | Grant Structure | FY2024 Grant-Date Fair Value ($) | Vesting / Terms |
|---|---|---|---|
| Annual Director RSUs | Time-based RSUs | 50,000 | RSUs equal to $50,000 divided by 20-day avg closing price; generally forfeitable if not a director at the second annual meeting after grant; dividend equivalents paid; restrictions lapse on death, disability, or change of control |
No performance-linked director equity (no PSUs) or bonus metrics disclosed for non-management directors; director equity is time-based only .
Other Directorships & Interlocks
| Item | Detail |
|---|---|
| Other public company boards | None disclosed for Lindbloom; company indicates no “overboarding” and monitors directors’ external commitments . |
| Compensation Committee interlocks | None; members (including Lindbloom) had no relationships requiring Item 404 related-person disclosure . |
Expertise & Qualifications
- Financial reporting and audit: Former CFO; Audit Committee Financial Expert designation .
- Technology and operations: Former CIO with supply chain/logistics depth; relevant to oversight of cybersecurity and AI .
- Education: BS and MBA, Carlson School of Management (University of Minnesota) .
Equity Ownership
| Category | Amount | Notes |
|---|---|---|
| Common Stock Owned | 7,799 shares | <1% of outstanding |
| RSUs Vesting Within 60 Days | 2,041 | Counted in ownership % calc conventions |
| Stock Options | — | None outstanding/exercisable |
| Ownership Guidelines | 1x base cash retainer for non-management directors; 5-year phase-in; unvested RSUs/PSUs do not count | |
| Hedging/Pledging Policy | Company does not have a policy restricting hedging or pledging of company securities |
Governance Assessment
- Strengths:
- Dual committee chair roles (Audit and Compensation) signal high engagement and strong technical oversight; expertise matches committee mandates .
- Independent status and Audit Committee Financial Expert designation bolster investor confidence in financial reporting oversight .
- Active risk oversight on cybersecurity and AI within Audit Committee .
- Transparent director compensation with modest cash retainer and time-based equity; use of independent compensation consultant (Korn Ferry) for executive pay, with high Say‑on‑Pay support (96.3%) indicating broader governance credibility .
- Considerations:
- Controlled company status (Leeds family >50% voting power) reduces proportion of independent directors and can limit minority shareholder influence despite independent committees .
- Concentration of committee leadership (same director chairs Audit and Compensation) is efficient but may reduce leadership dispersion; monitor workload and independence in practice .
- Anti‑hedging/anti‑pledging policy absence is an alignment gap; while dividend equivalents on unvested RSUs are standard here, lack of hedging/pledging restrictions is a governance vulnerability for alignment optics (RED FLAG) .
- Attendance/engagement signal:
- Board and committee activity levels were robust in 2024, and all directors met minimum attendance thresholds; independent directors hold regular executive sessions under a Lead Independent Director .
- Related party exposure:
- No related‑party transactions disclosed for Lindbloom; overall company related‑party items center on Leeds family lease and stockholder agreement; committees oversee such matters .
Overall, Lindbloom’s profile is aligned with board effectiveness in audit and compensation oversight; the principal governance risk is the company’s controlled status and absence of anti‑hedging/pledging policy rather than issues specific to Lindbloom’s independence or conduct .