Roland Giroux
Acushnet HoldingsAbout Roland Giroux
Roland A. Giroux, 64, is Executive Vice President, Chief Legal Officer and Corporate Secretary of Acushnet Holdings (GOLF). He joined Acushnet in 2000 and was appointed to his current role in July 2021; prior roles include Vice President and Associate General Counsel (2017) and earlier legal leadership posts at Fortune Brands and Chadbourne & Parke LLP. He holds a B.S. in Chemical Engineering (Rensselaer Polytechnic Institute), an M.B.A. (Long Island University) and a J.D. (Pace University) . Company performance context: Acushnet’s TSR exceeded the S&P 500 Consumer Durables & Apparel Index over the last five years, and executive pay design links incentives to Adjusted EBITDA, adjusted operating income, and ROIC .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Acushnet Holdings Corp. | EVP, Chief Legal Officer & Corporate Secretary | Appointed July 2021 | Oversees global legal, corporate governance, disclosure, insider trading policy and board processes . |
| Acushnet Holdings Corp. | Vice President & Associate General Counsel | 2017 (most recent prior role) | Led key legal functions; supported corporate governance and transactions . |
| Fortune Brands, Inc. | Counsel | Not disclosed | Corporate legal advisory experience to a diversified consumer company . |
| Chadbourne & Parke LLP | Corporate & Project Finance Attorney | Not disclosed | Advised on corporate and project finance, building transactional expertise . |
External Roles
None disclosed in company filings for public-company boards or external committee roles .
Fixed Compensation
Not disclosed for Mr. Giroux (he is an executive officer but not a Named Executive Officer (NEO) in the proxy). The DEF 14A reports fixed compensation only for NEOs (CEO, CFO, and three division presidents) .
Performance Compensation
Company program architecture (applies to NEOs; participation specifics for Mr. Giroux are not disclosed):
- Annual cash incentive metric: Adjusted EBITDA with threshold/target/max and straight-line interpolation .
- Long-term incentives: 40% RSUs (time-based, ratable vest over 3 years), 60% PSUs (3-year cliff), with 50% based on three-year cumulative adjusted operating income and 50% based on three-year average ROIC .
| Component | Metric | Weighting | Target(s) | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Annual Incentive (Company program) | Adjusted EBITDA | 100% (2024 framework) | Threshold $340M; Target $400M; Max $460M | 2024 actual $404.4M → 107.4% payout for NEOs | Cash; annual . |
| PSUs (Company program) | Adjusted Operating Income (3-yr) | 50% | Target $860.0M | 2022–2024 actual $871.1M → 107.6% factor | Cliff on 2/1 of year 4 . |
| PSUs (Company program) | ROIC (3-yr avg) | 50% | Target 13.50% | 2022–2024 actual 14.66% → 151.6% factor | Cliff on 2/1 of year 4 . |
| RSUs (Company program) | Time-based | — | Grant-date value determined by share price | — | 3-year ratable vest (e.g., Feb 1 annually) . |
Note: The company shifted 2025 annual incentive design to add strategic objectives weighting (10%) and segment targets for division presidents; NEO design disclosed, but Mr. Giroux’s plan parameters are not disclosed .
Equity Ownership & Alignment
| Item | Detail | Evidence |
|---|---|---|
| Total beneficial ownership | ~61,728 shares following 9/19/2025 dividend equivalent accrual (Form 4) | |
| Beneficial ownership around Mar 2025 | 61,572 shares after 3/21/2025 non-open-market accruals (Form 4) | |
| Transaction type | Reported transactions were dividend equivalent rights accrued on RSUs/PSUs (routine, non-open-market) | |
| Ownership as % of SO | Not disclosed in proxy for Mr. Giroux (table lists NEOs/directors only) | . |
| Vested vs unvested | Not itemized for Mr. Giroux; filings indicate RSU/PSU and dividend equivalents under deferral mechanics | . |
| Pledging/Hedging | Hedging prohibited; pledging prohibited without pre-clearance from CLO (applies company-wide); no pledging by Giroux disclosed | . |
| Ownership guidelines | Executives on Corporate Management Committee/Section 16: 3x base salary; 50% net shares retention until compliant | . |
| Compliance status | Company disclosed NEO compliance; Mr. Giroux’s compliance not specifically disclosed | . |
Employment Terms
| Term | Detail | Evidence |
|---|---|---|
| Employment start at Acushnet | Joined 2000; appointed EVP, CLO & Corporate Secretary July 2021 | . |
| Employment agreement | Not disclosed for Mr. Giroux; CEO and CFO agreements disclosed only | . |
| Severance plan eligibility | Executive Severance Plan terms disclosed for NEOs; applicability to Mr. Giroux not specifically disclosed | . |
| Change-in-control (CIC) | NEO CIC provisions quantified; Mr. Giroux’s CIC terms not disclosed | . |
| Clawback policy | Mandatory recoupment aligned with NYSE Rule 10D-1; applies to current/former executive officers | . |
| Non-compete / non-solicit | Not disclosed for Mr. Giroux individually | — |
| Securities trading policy | Strict insider trading policy; hedging banned; pledging requires CLO pre-clearance | . |
Investment Implications
- Alignment and risk: Company-wide pay-for-performance structure uses Adjusted EBITDA (annual) and multi-year operating income/ROIC PSUs, reinforcing value creation discipline; specifics for Mr. Giroux are not disclosed, but his role as CLO embeds governance and compliance oversight in compensation and trading policies .
- Insider pressure: Reported 2025 Form 4s show routine dividend-equivalent accruals on deferred RSUs/PSUs; no open-market selling is indicated in those filings, suggesting low immediate selling pressure from Giroux .
- Governance quality: Compensation Committee is independent, advised by Pearl Meyer; stock ownership and clawback policies are robust; hedging prohibited and pledging tightly controlled—positive for alignment and downside protection .
- Performance backdrop: Company TSR outpaced peer index over five years; incentive frameworks and strong pay–performance linkage support confidence in disciplined execution; however, the absence of individual compensation disclosure for Giroux limits precision on his personal incentive alignment .
Additional context • Compensation peer group includes Columbia Sportswear, Under Armour, YETI, Topgolf Callaway, Deckers, and others, anchoring market competitiveness and pay benchmarking .
• 2024 Say-on-Pay support exceeded 99%, indicating broad shareholder endorsement of compensation practices .