Thomas C. Schievelbein
HUNTINGTON INGALLS INDUSTRIESAbout Thomas C. Schievelbein
Independent director of HII since March 2011; age 71. Former Chairman, President and CEO of The Brink’s Company and former President/COO of Newport News shipbuilding operations at Northrop Grumman/Newport News Shipbuilding, with deep shipbuilding, nuclear programs, and defense-industry expertise. Current Board service includes lead director at New York Life Insurance Co.; prior public company boards include Brink’s Company and McDermott International . The Board has determined all non‑employee directors (including Mr. Schievelbein) are independent under HII’s Guidelines and NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Brink’s Company | Chairman, President & CEO | Jun 2012 – May 2016 | Led public company; Chair of Brink’s board from Jun 2012 |
| Northrop Grumman Newport News | President | Nov 2001 – Nov 2004 | Oversaw nuclear-powered carriers and submarines programs (Virginia-class, CVN‑76/77/21) |
| Newport News Shipbuilding Inc. | Chief Operating Officer | 1995 – 2001 | Responsible for design, construction, maintenance; major carrier overhauls/refueling; submarine fleet maintenance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| New York Life Insurance Co. | Director; Lead Director | Current | Private mutual insurer; lead director role |
| U.S. Secretary of the Navy’s Advisory Panel | Member | Past | Advisory role on naval matters |
| U.S. Naval Academy Foundation | Director | 2004 – 2012 | Non-profit governance |
| Brink’s Company | Director | 2009 – 2016 | Public company; Chair from 2012 |
| McDermott International Inc. | Director | 2004 – 2012 | Public engineering company |
Board Governance
- Committee assignments: Audit Committee member; Finance Committee Chair .
- Independence: All standing committees comprise independent directors; Board determined all directors other than the CEO are independent .
- Attendance and engagement: Board held six meetings in 2024; committees—Audit (7), Compensation (5), Cybersecurity (5), Governance & Policy (5), Finance (5). Each director attended ≥75% of meetings of the Board/committees on which they served; all directors attended the 2024 Annual Meeting. Independent directors met in executive session at all five regular Board meetings .
- Finance Committee scope (as Chair): Oversees financial policies/strategy, capital structure, dividends/repurchases, significant capex, strategic transactions, and supply chain, contracting strategy/pricing discipline risk oversight .
Fixed Compensation
| Component | Amount ($) | Notes |
|---|---|---|
| Annual Cash Retainer | 120,000 | Standard non‑employee director cash retainer |
| Audit Committee Member Retainer | 17,500 | Member fee |
| Finance Committee Chair Retainer | 20,000 | Chair fee |
| 2024 Cash Fees Earned | 157,500 | Sum of retainer + committee fees |
| 2024 Stock Awards (grant-date fair value) | 164,459 | Deferred stock units under 2022 LTIP |
| 2024 Total Director Compensation | 321,959 | Cash + stock awards |
- Directors may elect to receive annual cash retainers as stock units payable upon termination of Board service; dividend equivalents accrue on outstanding stock units, subject to vesting/payment provisions. Directors who own HII shares valued at ≥5× annual cash retainer may elect annual equity in common shares or stock units payable in year five (or upon Board service termination) .
- Policy prohibits directors/officers from speculative trades, hedging, margin accounts, or pledging HII securities .
Performance Compensation
| Equity Element | Vehicle | Grant Cadence/Value | Vesting/Payment | Dividend Equivalents |
|---|---|---|---|---|
| Annual Director Equity | Deferred Stock Units or Common Shares | $165,000 annual grant (paid quarterly; 2024 grant value: $164,459) | Stock units payable upon termination; if eligible, election to receive units payable in year five | Dividend equivalents accrue; paid only to extent underlying units vest/pay |
No director-specific performance metrics are tied to director compensation (director equity is time/deferred based) .
Other Directorships & Interlocks
| Company | Market Type | Role | Potential Interlock/Conflict |
|---|---|---|---|
| New York Life Insurance Co. | Private mutual | Lead Director | No supplier/customer conflict disclosed with HII |
| Brink’s Company | Public | Former Chair/CEO; Director | Prior role; no related-party transactions disclosed with HII |
| McDermott International Inc. | Public | Former Director | Prior role; no related-party transactions disclosed with HII |
- HII Related Person Transactions: Aside from plan-trust services by State Street/BlackRock and CEO’s family employment disclosure, no related-person transactions requiring disclosure since 2024; Governance & Policy Committee oversees a formal related-party transactions policy .
Expertise & Qualifications
- Strategic/operating leadership: CEO/Chair experience; shipbuilding manufacturing leadership; corporate governance .
- Defense/nuclear programs: Aerospace & defense industry knowledge; nuclear program oversight .
- Technology and risk oversight: Advanced technology (future warfare), cyber/IT risk management; finance/strategic transactions .
Equity Ownership
| Holder | Shares Owned | Share Equivalents (Deferred Units) | Total | % of Outstanding Shares |
|---|---|---|---|---|
| Thomas C. Schievelbein | 7,967 | 21,729 | 29,696 | 0.076% (29,696 / 39,235,568) |
- Share equivalents are non‑voting deferred stock units, payable in common shares (or cash/combination at Board discretion) upon departure from the Board .
- Hedging/pledging: Prohibited by HII policy; no pledging disclosed for directors .
Governance Assessment
- Board effectiveness: As Finance Chair and Audit member, Schievelbein is positioned on core oversight levers—capital allocation, strategic transactions, financial policies, and internal controls—supporting investor confidence in risk oversight and financial discipline .
- Attendance/engagement: Met ≥75% attendance threshold; Board/committee cadence and frequent executive sessions indicate active independent oversight .
- Independence and conflicts: Determined independent; no related‑party transactions disclosed involving Schievelbein; robust related‑party review process .
- Ownership alignment: Holds 7,967 shares and 21,729 deferred units; director program encourages equity via stock units and disallows hedging/pledging—positive alignment signals .
- Shareholder signals: Strong say‑on‑pay support (96–97% over last five years) reflects governance/compensation credibility and may indirectly support Board stewardship perceptions .
Red flags: None disclosed specific to Schievelbein (no related‑party transactions, no hedging/pledging, adequate attendance). Monitor for any evolving interlocks or supplier relationships given HII’s defense supply chain oversight by Finance Committee .