Alice S. Cho
GLOBE LIFEAbout Alice S. Cho
Alice S. Cho (age 58) is an independent director at Globe Life Inc. and serves on the Audit Committee; she has been designated an Audit Committee Financial Expert since February 2024 (reaffirmed February 26, 2025) . She joined the Board in February 2023 and is currently a Senior Advisor at Boston Consulting Group; her background spans risk management, regulatory compliance, governance, and digital technology, with prior roles at Promontory Financial Group, BITS (Bank Policy Institute), the Federal Reserve Board, and the U.S. Executive Office of the President . Education: B.A. in Economics (Whitman College), A.M. in Public Policy (University of Chicago), Harvard Business School Executive Education .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Boston Consulting Group | Senior Advisor | 2021–present | Advises boards/C-suite on strategy and governance |
| Varo Money Inc. | Company Advisor | 2017–2020 | Consumer fintech advisory |
| Promontory Financial Group | Managing Director & Head of West Coast Practice; prior senior leadership | 2015–2017; 2005–2015 | Board/C-suite advisory on risk, compliance, governance |
| BITS (Bank Policy Institute) | Director | 1999–2000 | Tech policy for banking industry |
| Federal Reserve Board | Special Assistant to Vice Chair Alice M. Rivlin | 1995–1999 | Monetary policy, regulatory oversight support |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| First Interstate BancSystem (NASDAQ: FIBK) | Director | 2020–present | Current public company board service |
| University of Chicago (Harris) | Harris Council (Member); Alumni Council (Member) | 2021–present; 2017–2021 | Advisory roles |
| Council of Korean-Americans | Member | 2021–present | Civic organization |
| Whitman College | President’s Advisory Council | 2010–2019 | Institutional advisory |
| Women in Housing & Finance, Inc.; WHF Foundation | Director | 1995–1999 | Industry and philanthropic boards |
Board Governance
- Independence: The Board determined on February 26, 2025 that Cho meets NYSE and Board categorical standards and is independent .
- Committee assignments: Audit Committee member; the Audit Committee met 12 times in 2024 (4 physical, 3 videoconference, 5 teleconference); Cho designated as Audit Committee Financial Expert (Feb 2024; reaffirmed Feb 26, 2025) .
- Attendance: In 2024, all directors attended at least 75% of Board and committee meetings; all directors attended the April 25, 2024 Annual Meeting .
- Executive sessions: Independent directors met in regular executive sessions presided over by the Lead Director .
- Governance features: Majority independent Board; 100% independent committees; proxy access; majority voting standard; prohibition on hedging/pledging; clawback policy; director stock ownership requirements .
Fixed Compensation
| Component | Amount ($) | Notes |
|---|---|---|
| Annual Board Retainer (Cash) | 100,000 | Standard non-employee director cash retainer |
| Annual Board Retainer (Equity) | 180,000 | Director may elect stock options, restricted stock, or RSUs; equity issued first NYSE trading day each year at closing price |
| Audit Committee Membership Fee | 12,500 | Standard cash fee for Audit Committee members |
| One-time additional Audit workload fee (2024) | 15,000 | Authorized for “work beyond traditional duties” in 2024 for Audit Committee members |
| Total 2024 Cash Fees (actual) | 127,500 | Sum of cash retainer + committee fee + one-time fee for Cho |
| Total 2024 Equity Grant (actual) | 180,039 | Grant-date fair value; 1,475 RSUs to Cho on Jan 2, 2024 |
- No meeting fees; limited perquisites; no director deferred compensation elections in 2024 .
Performance Compensation
| Award Type | Grant Date | Units/Shares | Grant-Date Fair Value ($) | Vesting | Performance Metrics |
|---|---|---|---|---|---|
| RSUs | Jan 2, 2024 | 1,475 | 180,039 | Not disclosed in director section | None stated for director awards (time-based) |
- Directors may elect equity form (options, restricted stock, or RSUs) as part of the annual retainer; the equity component is valued at market closing price on the first trading day of the year .
Other Directorships & Interlocks
| Company | Relationship to GL | Potential Interlock/Conflict |
|---|---|---|
| First Interstate BancSystem (FIBK) | External public board | No GL-related party transactions in 2024; Board policy requires review/approval of any related party transactions; none identified for 2024 . |
- Related Party Transaction Policy: Only permitted with Board approval or Compensation Committee-approved compensation; no related party transactions reviewed in 2024 .
Expertise & Qualifications
- Skills matrix indicates Cho brings Accounting/Financial, Business Operations, Capital Markets, senior management experience, Enterprise Risk Management, Human Capital Management, Information Technology/Information Security, Insurance/Financial Services, Investments, Legal/Regulatory/Compliance, Marketing/Advertising, Strategic Planning .
- Designated Audit Committee Financial Expert, strengthening financial reporting oversight .
Equity Ownership
| Holder | Beneficial Ownership (Jan 31, 2025) | % of Outstanding | Notes |
|---|---|---|---|
| Alice S. Cho | 4,466 shares | <1% | No outstanding option awards reported for Cho at FY2024; RSU holdings not separately itemized in ownership table . |
- Stock ownership guidelines: Non-management directors must hold shares equal to 5x annual cash retainer; 7-year period to attain; as of Dec 31, 2024, all directors/NEOs met guidelines or were within the accumulation period .
- Hedging/Pledging: Prohibited for directors and officers under Insider Trading Policy .
Governance Assessment
- Board effectiveness: Cho adds depth in risk, regulatory, and technology oversight and is formally an Audit Committee Financial Expert, reinforcing internal control and reporting rigor .
- Engagement and workload signal: The Audit Committee convened 12 times in 2024, and Cho received a one-time fee for additional audit workload—signals elevated engagement on financial reporting, cybersecurity, and risk oversight rather than a pay anomaly .
- Independence and attendance: Independence reaffirmed (Feb 26, 2025); attendance benchmarks met; participation at annual meeting supports investor confidence .
- Pay structure alignment: Director pay emphasizes equity with flexible election among options/restricted stock/RSUs; no meeting fees; limited perquisites; no deferrals in 2024—aligned with shareholder interests without red flags .
- RED FLAGS: None disclosed—no related party transactions; hedging/pledging prohibited; no director-specific tax gross-ups or option repricing; committees fully independent .