David Meline
HPAbout David Meline
Independent director at HP Inc. since 2023 (age 67), currently Chair of the Audit Committee and member of the Finance, Investment and Technology (FIT) Committee. Previously CFO at Moderna (2020–2022), Amgen (2014–2019), and 3M (including CFO/SVP 2011–2014 and Corporate Controller/CAO 2008–2011), with 20 years in finance and management roles at General Motors; the Board identifies him as an audit committee financial expert and independent under NYSE and HP standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Moderna Inc. | Chief Financial Officer | Jun 2020 – Sep 2022 | Drove operational performance and scaling of growth businesses |
| Amgen Inc. | CFO and Executive Vice President | Jul 2014 – Dec 2019 | Delivered strong financial performance; capital allocation expertise |
| 3M Company | CFO & SVP; VP Corporate Controller & CAO | 2011–2014 (CFO & SVP); 2008–2011 (Controller/CAO) | Manufacturing, technology, finance breadth |
| General Motors | Various finance and management roles | ~20 years | Deep global finance and operations experience |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| ABB Ltd. | Director | Current | Public company board |
| Lonza Group Ltd. | Director nominee | Pending appointment | Public company board nominee |
| Pacific Biosciences of California, Inc. | Director | Prior | Prior public company board |
Board Governance
- Committee assignments: Audit Committee Chair; FIT Committee member .
- Independence: HP Board determined Meline is independent under NYSE and HP standards; Audit Committee members satisfy NYSE financial literacy; Meline designated as an “audit committee financial expert” .
- Meeting cadence and attendance: FY2024 Board held 7 meetings; Audit (9), FIT (4), HRC (8), NGSR (4). Each director serving in FY2024 attended at least 75% of aggregate Board and applicable committee meetings during their service .
- Board leadership: Independent Chair (Chip Bergh); regular executive sessions led by the Chair .
- Overboarding controls: HP bylaws cap at five public company boards (including HP); NGSR pre-approval required. Meline’s current roles (HP + ABB; Lonza nominee) are within policy .
Fixed Compensation
| Component (FY2024) | Amount ($) | Detail |
|---|---|---|
| Annual Cash Retainer | 105,000 | Standard Director cash retainer |
| Committee Chair Fees | 2,865 | Reflects Audit Chair fee prorated over FY2024 |
| Additional Meeting Fees | — | No excess meeting fees paid in FY2024 |
| Total Cash Earned | 107,865 | Sum of retainer and chair fees |
Notes:
- FY2024 Board Year program: annual cash retainer $105,000; committee chair fees—Audit $35,000; HRC $25,000; NGSR $20,000; Chair of Board $200,000. Excess meeting fees apply only beyond 10 meetings per Board Year; none paid in FY2024 .
- Directors may elect cash deferral and/or receive RSUs in lieu of cash; program allows aircraft usage for Board travel .
Performance Compensation
| Equity Grant (FY2024) | Shares (#) | Grant Date Fair Value ($) | Vesting/Type |
|---|---|---|---|
| Annual Equity Retainer | 10,690 | 292,762 | Fully vested RSUs; grants made on annual meeting date (Apr 22, 2024) |
Notes:
- Director equity grants are intended for alignment; not subject to service-related vesting, performance conditions, or option exercises; PCSOs discontinued for executives and not part of director pay .
Other Directorships & Interlocks
| Company | Relationship to HP | Board Assessment |
|---|---|---|
| Various organizations where Meline or immediate family are non-employee directors/advisors | Ordinary-course commercial transactions occurred with HP in last three years | Board concluded these did not impair independence; amounts did not exceed materiality thresholds (greater of $1M or 2% of revenues) |
No related-party transactions disclosed for Meline; a separate HP transaction involved Director Richard L. Clemmer’s 25% interest in Greenwave (FY2025) and was approved under policy .
Expertise & Qualifications
- Finance and capital allocation, manufacturing, technology; extensive CFO experience across life sciences and diversified industrials .
- Audit oversight, risk management, and financial reporting expertise; designated audit committee financial expert .
- International operations and scaling growth businesses; strategic performance delivery .
Equity Ownership
| Item | Status |
|---|---|
| Stock awards outstanding at fiscal year-end 2024 | — (none recorded) |
| Option awards outstanding at fiscal year-end 2024 | — (none) |
| Director Stock Ownership Guidelines | 5x annual cash retainer; includes directly/indirectly held shares and deferred stock |
| Compliance Status (Board-wide) | Directors >5 years met; those <5 years met or on track based on current trading prices |
Governance Assessment
- Strengths: Independent Audit Chair with “financial expert” designation; robust committee activity (Audit 9 meetings) and Board attendance policy met; clear independence review and overboarding control; director equity fully vested (alignment-focused) and stock ownership guidelines (5x retainer) underpin long-term orientation .
- Watch items: External board service requires ongoing NGSR monitoring for time commitments; HP noted directors (including Meline) affiliated with organizations transacting with HP in ordinary course—Board deemed immaterial, but investors should monitor for any escalation in size or scope (conflict risk) .
- Signals for investor confidence: Governance framework with independent Chair, majority-independent Board, executive sessions, annual self-evaluations with third-party facilitation, and active risk oversight across committees supports Board effectiveness .