Anthony Guzzi
HUBBELLAbout Anthony J. Guzzi
Anthony J. Guzzi, age 60, has served on Hubbell’s Board since 2006 and is the independent Lead Director through the 2025 Annual Meeting . He is Chairman, President and CEO of EMCOR Group, Inc., bringing extensive CEO/COO, manufacturing, distribution, and consulting experience; prior roles include senior leadership at Carrier Corporation and engagement manager at McKinsey & Company .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| EMCOR Group, Inc. | Chairman, President & CEO | Jun 2018–present; CEO & Director 2011–2018; President & COO 2004–2010 | Leads large mechanical/electrical construction and facilities services enterprise; public company CEO experience |
| Carrier Corporation (UTC) | President, North American Distribution & Aftermarket; President, Commercial Systems & Services | 2001–2004 | Manufacturing and distribution leadership in HVAC/refrigeration systems |
| McKinsey & Company | Engagement Manager | Not disclosed (prior to 2001) | Strategy/operations advisory experience |
External Roles
| Company/Institution | Role | Tenure | Committees/Notes |
|---|---|---|---|
| EMCOR Group, Inc. | Director | Since 2009 | Also Chairman, President & CEO at EMCOR |
Board Governance
- Lead Independent Director: Three-year term structure; responsibilities include coordinating executive sessions of independent directors, facilitating board-management communications, and succession oversight; Mr. Guzzi serves through the 2025 Annual Meeting .
- Independence: 9 of 10 directors are independent; Mr. Guzzi is independent .
- Meetings/Attendance: Board held 8 meetings in 2024; average director attendance 98% .
| Committee | Role | Meetings (2024) | Attendance |
|---|---|---|---|
| Compensation | Member | 4 | 100% |
| Executive | Member | 1 | 100% |
| Finance | Member | 4 | 100% |
| Nominating & Corporate Governance | Member | 4 | 100% |
Fixed Compensation
- Program design (director pay levels effective May 7, 2024): Board retainer $100,000; Lead Director retainer $30,000; annual restricted share grant $160,000; committee chair/member retainers as below; no meeting fees; no discretionary fees paid in 2024 .
| Component | Amount |
|---|---|
| Annual Board Retainer | $100,000 |
| Lead Director Retainer | $30,000 |
| Annual Restricted Share Grant (grant-date value) | $160,000 |
| Audit Committee Chair/Member | $20,000 / $10,000 |
| Compensation Committee Chair/Member | $15,000 / $7,000 |
| Finance Committee Chair/Member | $13,000 / $5,000 |
| NCGC Chair/Member | $13,000 / $5,000 |
- 2024 actual compensation for Mr. Guzzi:
| Name | Fees Earned/Paid in Cash ($) | Stock Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|
| Anthony J. Guzzi | 143,511 | 159,645 | 23,000 | 326,156 |
Notes:
- Deferred elections: Mr. Guzzi deferred $143,511 of cash fees and his entire 2024 restricted stock grant into the Deferred Plan for Directors .
- All Other Compensation includes charitable matching contributions under The Hubbell Foundation .
Performance Compensation
- Director equity is time-based restricted stock (no performance metrics). 2024 director grants: 409 restricted shares granted May 7, 2024, vest at the 2025 Annual Meeting if still serving (or earlier upon death or change in control) .
- Hubbell’s executive LTI metrics (for pay-for-performance context): Relative Sales Growth (34%), Adjusted Operating Profit Margin (33%), Relative TSR (33%) .
| Metric | 2024 Weighting | Rationale |
|---|---|---|
| Relative Sales Growth | 34% | Drives organic/inorganic growth vs. peers |
| Adjusted Operating Profit Margin | 33% | Focus on margin expansion/productivity |
| Relative TSR | 33% | Aligns with shareholder value |
Other Directorships & Interlocks
- Current public company board: EMCOR Group, Inc. (since 2009) .
- Compensation Committee interlocks: None in 2024 .
- Related party transactions: None required to be disclosed for 2024; independence determinations reviewed annually; no impairments identified .
Expertise & Qualifications
- CEO/COO leadership of complex industrial organizations; manufacturing, distribution, operations expertise; public company governance; strategy/consulting background (McKinsey) .
Equity Ownership
- Director stock ownership guideline: 5× annual base cash retainer; all directors satisfy requirements .
Beneficial ownership (as of March 7, 2025):
| Holding Type | Amount |
|---|---|
| Common Stock | 6,490 shares |
| Stock Units (Deferred Plan) | 32,588 units |
| Restricted Stock Units (Deferred Plan) | 14,555 units |
| Total Ownership (incl. units) | 53,633 units/shares |
Deferred balances (as of December 31, 2024):
| Holding Type | Amount |
|---|---|
| Aggregate Stock Units | 32,494 units |
| Aggregate Restricted Stock Units | 14,555 units |
Policies:
- Hedging and pledging of Hubbell stock are prohibited for directors/officers (except under approved 10b5-1 plans); robust clawback policy adopted in 2023 (SEC/NYSE compliant) .
Governance Assessment
- Board effectiveness: Lead Independent Director role and 100% committee attendance indicate strong oversight and engagement; Mr. Guzzi serves on four key committees (Compensation, Executive, Finance, NCGC) and fulfills lead responsibilities .
- Alignment: Significant deferred director equity and cash fees, plus substantial stock/restricted unit holdings, support long-term alignment with shareholders; compliant with ownership guidelines .
- Independence/Conflicts: Independent status; no related party transactions; no compensation committee interlocks disclosed for 2024; EMCOR CEO role is noted but no Hubbell-related transactions requiring disclosure—independence reviewed annually and maintained .
- Pay signals: Director pay structure uses cash retainer plus time-based restricted stock; Lead Director incremental retainer ($30,000) reflects responsibilities; no discretionary fees paid in 2024 .
- Shareholder confidence: Strong say-on-pay support (95.1% in 2024) and ongoing shareholder engagement; Board moving to majority voting in uncontested director elections, enhancing accountability .
RED FLAGS:
- None disclosed regarding related party transactions, hedging/pledging, option repricing, or low attendance .
- Time-commitment watch point: Concurrent EMCOR CEO + Lead Director at Hubbell; however, committee and board attendance metrics are strong .