Bonnie Lind
HUBBELLAbout Bonnie C. Lind
Bonnie C. Lind is an independent director of Hubbell Incorporated, age 66, serving since 2019. She is Chair of the Audit Committee and an SEC-designated “Audit Committee Financial Expert,” with prior senior finance leadership as SVP, CFO and Treasurer at Neenah, Inc. (2004–2020) and earlier roles at Kimberly-Clark (1982–2004). She also serves on the Executive Committee and the Nominating & Corporate Governance Committee (NCGC) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Neenah, Inc. | Senior Vice President, CFO & Treasurer | Jun 2004 – Oct 2020 | Led financing, M&A, manufacturing oversight |
| Kimberly-Clark Corporation | Assistant Treasurer; other senior finance/operations roles | 1982 – 2004 | Progressive financial and operational leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mission Produce, Inc. | Director | Since 2020 | Not disclosed in HUBB proxy |
| Albany International Corp. | Director | Since 2024 | Not disclosed in HUBB proxy |
| Tamarack Timberlands LLC | Director | Since 2022 | Not disclosed in HUBB proxy |
| Prior: U.S. Silica Holdings, Inc. | Director | 2019 – 2021 | Not disclosed in HUBB proxy |
| Prior: Federal Signal Corporation | Director | 2014 – 2018 | Not disclosed in HUBB proxy |
| Prior: Empire District Electric Company | Director | 2009 – 2017 | Not disclosed in HUBB proxy |
Board Governance
- Independence: Independent director; Board is majority independent (9 of 10) and all standing committees except Executive are fully independent .
- Committee memberships:
- Audit Committee (Chair); 8 meetings in 2024; 100% attendance; all members financially literate; most designated financial experts .
- Nominating & Corporate Governance Committee (Member); 4 meetings in 2024; 100% attendance; oversees independence, related party policy, and director comp benchmarking .
- Executive Committee (Member); 1 meeting in 2024; 100% attendance .
- Audit oversight actions: Audit Committee pre-approved all PwC audit and permissible non-audit services in 2024; issued Audit Committee Report recommending inclusion of audited financials in 2024 Form 10-K (signed by Lind as Chair) .
- Board meeting cadence: 8 total Board meetings in 2024; average director attendance 98%; independent directors meet regularly in executive session .
- Voting standard: Board recommending adoption of majority voting in uncontested director elections (strengthens accountability) .
Fixed Compensation
| Component (Non-Employee Directors) | Amount | Notes |
|---|---|---|
| Annual Board Cash Retainer | $100,000 | Increased from $90,000 effective May 7, 2024 |
| Audit Committee Chair Retainer | $20,000 | Chair vs. Member $10,000 |
| NCGC Member Retainer | $5,000 | Chair $13,000; Member $5,000 |
| Meeting Fees | None | No Board/committee meeting fees |
| 2024 Fees Earned (Bonnie C. Lind) | $121,511 | As reported; includes amounts deferred under Director Deferred Plan |
| Other Compensation (Bonnie C. Lind) | $8,000 | Matching gifts under Hubbell Foundation |
| Total 2024 Director Compensation (Bonnie C. Lind) | $289,156 | Sum of cash, stock grant fair value, other |
Performance Compensation
| Equity Element | Grant Date Value | Shares Granted | Vesting Terms | Deferral Election |
|---|---|---|---|---|
| Annual Restricted Share Grant (Bonnie C. Lind, 2024) | $159,645 | 409 | Vests at 2025 Annual Meeting, or earlier upon death/change in control | |
| Standard Annual Director Equity Level | $160,000 | N/A | Annual grant at meeting; time-based vesting to next annual meeting | |
| Deferral (Bonnie C. Lind, 2024) | Entire annual restricted grant deferred | N/A | Deferred as RSUs; dividend equivalents credited as additional units |
Director equity is time-based, not performance-conditioned; no STI/LTI metrics apply to non-employee directors .
Other Directorships & Interlocks
- Current public boards: Mission Produce (since 2020); Albany International (since 2024) .
- Private/other boards: Tamarack Timberlands LLC (since 2022) .
- Interlocks/conflicts: Company’s related party transaction policy administered by NCGC; no related person transactions required disclosure for FY2024 .
- Board service limits: Directors generally may serve on no more than three other public company boards (compliance managed via Guidelines) .
Expertise & Qualifications
- Financial leadership and audit expertise: SEC “Audit Committee Financial Expert”; extensive CFO/Treasurer experience; financial literacy .
- Manufacturing and M&A: Experience overseeing manufacturing operations and mergers/acquisitions from prior executive roles .
- Governance: Service on multiple public company boards; NCGC role at Hubbell .
- Cybersecurity oversight via Audit Committee responsibilities (plans, threats, prevention) .
Equity Ownership
| Name | Common Stock | Options/SARs Obtainable | Stock Units (Deferred Plan) | Restricted Stock Units (Deferred Plan) | Total Ownership |
|---|---|---|---|---|---|
| Bonnie C. Lind | 600 | — | 2,490 | 4,838 | 7,928 |
- Director stock ownership guideline: Must own company stock equal to 5x annual base cash retainer; all directors satisfy the requirement .
- Hedging/pledging: Insider trading policy covering directors prohibits hedging and generally pledging (limited exceptions via approved 10b5-1) .
- Deferred balances (as of 12/31/2024): Stock units 2,410; RSUs 4,838 .
Governance Assessment
- Strengths:
- Audit Committee chaired by a seasoned CFO with SEC “financial expert” designation; full committee independence and 100% attendance signal high oversight quality .
- Active pre-approval discipline and auditor independence oversight; formal Audit Committee Report signed by Lind .
- Majority voting standard proposal enhances board accountability; robust independence practices and executive sessions .
- Director compensation aligned to market median with equity emphasizing ownership; Lind’s deferral of equity strengthens long-term alignment .
- Potential risks/RED FLAGS:
- None disclosed regarding related party transactions, hedging/pledging, or attendance shortfalls (committee attendance 100%; board average 98%) .
- Investor confidence signals:
- Strong Say-on-Pay support historically (95.1% in 2024; ~92.5% ten-year average) indicates shareholder alignment with comp governance practices .
- Clear restrictions on outside board service and robust stock ownership guidelines for directors support engagement and alignment .