Joanne Crevoiserat
General MotorsAbout Joanne Crevoiserat
Joanne C. Crevoiserat, age 61, is an independent director of General Motors, serving since 2022. She is CEO and a board member of Tapestry, Inc., having become CEO in October 2020 after serving as CFO; her prior senior leadership roles include Abercrombie & Fitch, Kohl’s, Wal-Mart Stores, and May Department Stores. The Board has affirmatively determined she is independent under NYSE/SEC standards, and she is qualified as an “audit committee financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tapestry, Inc. | Chief Executive Officer & Director | Oct 2020–present | Led finance/brand development; social/environmental proficiency; oversight of supply chain governance |
| Tapestry, Inc. | Chief Financial Officer | Pre–Jul 2020 (prior to interim CEO) | Financial leadership; brand development |
| Abercrombie & Fitch Co. | Senior roles (unspecified) | Not disclosed | Retail operations/finance exposure |
| Kohl’s Inc. | Senior roles (unspecified) | Not disclosed | Retail operations/finance exposure |
| Wal-Mart Stores, Inc. | Senior roles (unspecified) | Not disclosed | Retail operations/finance exposure |
| May Department Stores | Senior roles (unspecified) | Not disclosed | Retail operations/finance exposure |
External Roles
| Company | Role | Status | Notes |
|---|---|---|---|
| Tapestry, Inc. | CEO & Director | Current | Public company directorship |
| At Home Group Inc. | Director | Prior | Prior public company board service |
Board Governance
- Committee memberships: Audit, Finance, Governance & Corporate Responsibility (not a chair). She is designated an audit committee financial expert.
- Independence: Board determined all non-employee directors, including Crevoiserat, are independent; audit and compensation committee members meet heightened NYSE/SEC independence criteria.
- Attendance: Board held 11 meetings; committees held 24; average director attendance 98%; each director standing for re‑election attended at least 94% of meetings in 2024. Independent directors met in executive session 10 times.
- Committee operations and cadence: Audit (9 meetings), Finance (4), Governance (4); responsibilities include financial reporting oversight, capital allocation, governance and related-party review.
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual Board Retainer | $325,000 | 60% minimum deferral into DSUs required |
| Fees Earned or Paid in Cash | $130,000 | She elected DSUs in lieu of cash for eligible fees |
| Stock Awards (DSUs) – Grant Date Fair Value | $195,021 | Valued at $53.27 closing price on 12/31/2024 |
| Other Compensation (Perquisites) | $30,861 | Company vehicle program $30,621; accident insurance $240 |
| Total 2024 Director Compensation | $355,882 | |
| 2025 Director Pay Structure | No change vs 2024 | Chair/Lead fees unchanged |
How DSUs work: fully vested upon grant, no voting rights; cash-settled after board service based on average daily closing price for the prior quarter; dividend equivalents credited as DSUs; directors must defer at least 60% of retainer.
Performance Compensation
GM does not use performance-based cash or equity for non-employee directors; compensation is retainer plus DSUs with time-based holding until departure from the Board. No director STIP/PSU metrics apply.
Other Directorships & Interlocks
| Area | Disclosure |
|---|---|
| Other public company boards | Tapestry (current), At Home Group (prior) |
| Potential interlocks/transactions | The Board reviewed ordinary-course transactions with companies where directors serve; determined they were not material to GM or those companies and did not impair director independence. |
| Overboarding limits | GM guidelines: ≤4 other public company boards; ≤2 other audit committees for audit committee members. Governance Committee annually reviews director commitment and availability. |
Expertise & Qualifications
- Skills matrix tags include Environmental, Finance, Governance, Manufacturing, Marketing, Public Company CEO, Risk Management, Social; she brings oversight of supply chain governance and sustainable material sourcing; and consumer-centric, digital, data-driven brand leadership.
- Audit committee financial expert designation.
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Common Shares Beneficially Owned | — (none disclosed) | Percentage of outstanding shares: <1% |
| DSUs Held | 19,840 units | DSUs are common stock equivalents |
| Stock Ownership Guidelines | $650,000 market value requirement; 5 years to comply | All non-employee directors compliant |
| Hedging/Pledging | Prohibited for insiders; no director/officer pledged shares; insider trading policy enforced |
Governance Assessment
- Board effectiveness: Serving on Audit, Finance, and Governance committees positions Crevoiserat at the nexus of financial reporting, capital allocation, and governance/related‑party oversight; designation as an audit committee financial expert strengthens audit oversight credibility.
- Independence and engagement: Board affirmed independence; 2024 attendance metrics indicate high engagement and robust executive session practices.
- Ownership alignment: Mandatory DSU deferral (≥60% of retainer) and director stock ownership guidelines promote alignment; she holds 19,840 DSUs and is subject to no-hedging/no-pledging rules.
- Compensation structure: Simple, transparent director pay benchmarked to GM’s executive compensation peer group and heavily equity‑linked via DSUs; no meeting fees disclosed, chair fees only for added workload.
- Potential conflicts: As a sitting CEO of Tapestry, GM’s annual independence review and related‑party transaction policy mitigate interlock risks; Board concluded ordinary-course transactions involving companies linked to directors were not material and did not impair independence.
- Shareholder engagement context: The Board conducted extensive stewardship outreach (60+ engagements since 2024), addressing governance and compensation concerns; while focused on NEO pay, it signals a responsive governance posture overseen by committees Crevoiserat serves on.
RED FLAGS: None disclosed specific to Crevoiserat. Time-commitment risk is mitigated by GM overboarding limits and annual Governance Committee reviews, with the Board affirming director availability and independence.