Julio Nemeth
GXO LogisticsAbout Julio Nemeth
Julio Nemeth (age 64) is a director nominee to GXO’s Board (expected election at the May 13, 2025 Annual Meeting). He is the former Chief Product Supply Officer at Procter & Gamble (2019–June 2023), with prior senior leadership across P&G’s Global Business Services and Product Supply, and brings deep manufacturing and supply-chain expertise. He holds a B.S. in Naval Engineering (Universidad de Buenos Aires) and an MBA (Fundação Getulio Vargas), and is considered independent under NYSE and GXO guidelines; if elected, he is slated to chair the Nominating, Corporate Governance & Sustainability Committee (NCGSC) and serve on the Operational Excellence Committee (OEC) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Procter & Gamble | Chief Product Supply Officer | May 2019 – June 2023 | Led global supply operations; executive sponsor of Hispanic Leadership Team and People with Disabilities Network |
| Procter & Gamble | President, Global Business Services | Jan 2015 – Apr 2019 | Oversaw global shared services; operations and financial acumen |
| Procter & Gamble | SVP, Product Supply, Global Operations | Jul 2013 – Dec 2014 | Senior responsibility for global product supply |
| Procter & Gamble | Various senior roles | 1990 – 2013 | Long-tenured supply chain leadership |
| Union Carbide (Brazil) | Project Engineer | 1987 – 1990 | Engineering operations in Brazil |
| Fabirnor (Argentina) | Design Engineer | 1984 – 1987 | Early-career engineering design |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Boston Beer Company (NYSE: SAM) | Director | Since Jan 2020 | Not disclosed |
| WK Kellogg Co (NYSE: KLG) | Director | Since Nov 2023 | Not disclosed |
Board Governance
- Independence: GXO affirms all director nominees (except CEO Malcolm Wilson) are independent under NYSE and company standards; Nemeth is an independent director nominee .
- Committee assignments: Expected to chair NCGSC and serve on OEC post-election; committee rotation is part of Board refresh strategy .
- Board refresh and effectiveness: 5 new nominees in 2025, aligning skills to supply-chain and technology; Board held 11 meetings in 2024, with >80% attendance for current directors and >90% for committee meetings; all directors invited to attend committee meetings .
- OEC creation: Operational Excellence Committee established to oversee continuous improvement in quality, efficiency, cost control, safety, environmental compliance, and innovation .
- Leadership structure: Independent chairman; lead independent director role; majority voting and annual evaluations support accountability .
Fixed Compensation
Director compensation program (policy-level amounts; Nemeth did not serve in 2024):
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee directors) | $80,000 | Paid quarterly in arrears |
| Annual equity retainer (time-based RSUs) | $190,000 grant-date fair value | Grant date at Annual Meeting; ten-day average price determines units |
| Committee chair retainers | Audit: $25,000; Compensation: $20,000; NCGSC: $20,000 | Paid quarterly; Nemeth expected to chair NCGSC |
| OEC chair retainer | $20,000 | Effective May 13, 2025 |
| Lead independent director retainer | $25,000 | Policy detail |
| Non-executive chair incremental pay | $100,000 cash + $50,000 RSUs | Effective Q1 2025 |
| Meeting fees | None | No separate meeting fees; expenses reimbursed |
2024 director compensation (for serving directors; Nemeth not included) shows cash fees and RSU grant values, confirming the cash/equity mix and absence of meeting fees .
Performance Compensation
| Metric | Structure | Disclosure |
|---|---|---|
| Director equity awards | Time-based RSUs (no performance criteria) | Non-employee directors receive time-based RSUs only; no PSUs/options for directors are disclosed |
Other Directorships & Interlocks
- Current public boards: Boston Beer (SAM) and WK Kellogg (KLG) .
- Related-party/transactions: GXO reports no related-party transactions >$120,000 since Jan 1, 2024; independence determinations reviewed potential relationships, with no Nemeth-specific issues disclosed .
- Potential interlocks with GXO’s customers/suppliers: Not disclosed; Board processes include Audit Committee oversight of any related-party transactions .
Expertise & Qualifications
- Deep manufacturing and supply-chain leadership (P&G), public company board experience, and accounting/financial acumen .
- Board governance experience; skill alignment with GXO’s strategy areas (operations, governance, risk management, technology) per Board’s stated competencies .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Julio Nemeth (Director Nominee) | — | <1% | As of the April 1, 2025 record date; nominees # marked; none reported |
| Director stock ownership policy | 6x annual cash retainer | N/A | Time-based RSUs count; performance-vested awards/options do not until settled/exercised; 70% net shares retention until guideline met; 5-year compliance window |
| Hedging/pledging | Prohibited without preclearance | N/A | Insider trading policy; blackout periods and pre-clearance apply |
Governance Assessment
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Positives: Independent nominee; slated to chair NCGSC and serve on OEC—positions central to governance oversight and operational performance; strong supply-chain pedigree from P&G; Board maintains robust independence, majority voting, evaluations, and ESG/cyber oversight; no related-party transactions disclosed; high say-on-pay support (90%) indicates constructive shareholder engagement environment .
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Watch items: As of record date, Nemeth reported no GXO share ownership; alignment will rely on adherence to director ownership guidelines over the five-year window. New committee chair responsibilities for a first-year director require effective onboarding to sustain governance quality. No insider trading history at GXO yet (nominee status) .
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Implications: Nemeth’s supply-chain expertise and independent status support Board effectiveness in GXO’s operationally intensive model; chairing NCGSC places him at the center of governance, refreshment, and ESG disclosure. Absence of disclosed conflicts and clear ownership/insider policies mitigate red-flag risk; ownership build-up will be an early alignment signal .