Derek G. Schiller
Director at HVT
Board
About Derek G. Schiller
Derek G. Schiller, 54, is an independent director of Haverty Furniture Companies, Inc. (HVT) since 2020 and serves on the Nominating, Compensation and Governance (NCG) Committee. He is President and Chief Executive Officer of the Atlanta Braves (MLB) since 2018, previously serving as President of Business from 2016–2018 . The board has affirmed his independence under NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Atlanta Braves (MLB) | President & CEO | 2018–present | Leads overall club operations and strategy |
| Atlanta Braves (MLB) | President of Business | 2016–2018 | Led business operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Metro Atlanta Chamber of Commerce | Board member | Not disclosed | Community/economic development |
| Atlanta Convention and Visitors Bureau | Board member | Not disclosed | Tourism/economic impact |
| Atlanta Sports Council | Board member | Not disclosed | Regional sports initiatives |
| Jack and Jill Late-Stage Cancer Foundation | Board member | Not disclosed | Non-profit governance |
Board Governance
| Committee | Role | Chair? | Meetings (2024) | Notes |
|---|---|---|---|---|
| Nominating, Compensation & Governance (NCG) | Member | No | 2 | Oversees director/exec compensation, board composition, ESG, and related person transactions |
| Audit Committee | Not a member | — | 4 | Financial reporting, internal controls, risk oversight (cybersecurity, enterprise risk) |
| Executive Committee | Not a member | — | 1 | Acts between board meetings on transactions/financings |
- Independence: The board affirmed Schiller is independent under NYSE and HVT guidelines .
- Attendance: The board met 4 times in 2024; each director attended at least 83% of board and committee meetings on which they served .
- Lead Independent Director and executive sessions: G. Thomas Hough is Lead Director; independent directors meet in executive session at each board meeting .
Fixed Compensation
Director compensation structure (2024 board year):
| Element | Amount ($) | Notes |
|---|---|---|
| Annual equity retainer | 95,000 | Fully vested stock award on May 6, 2024; grant-date price $29.48 |
| Annual cash retainer | 60,000 | Paid first day of board year |
| Lead Director supplemental cash retainer | 25,000 | Lead Director only; excludes committee retainers |
| Audit Committee Chair | 20,000 | Supplemental cash |
| NCG Committee Chair | 15,000 | Supplemental cash |
| Audit Committee Member | 10,000 | Supplemental cash |
| NCG Committee Member | 5,000 | Supplemental cash |
Derek G. Schiller – 2024 director compensation (non‑management):
| Component | Amount ($) | Notes |
|---|---|---|
| Fees earned or paid in cash | 60,000 | Schiller elected to defer cash fees to be paid in common stock for the 2023–2024 and 2024–2025 board years |
| Stock awards | 95,000 | Aggregate grant-date fair value; fully vested |
| Total | 155,000 | Sum of cash and equity |
- Deferred Compensation: Directors may defer cash or stock; interest rate set annually, not above market. Five directors deferred a portion of 2024 compensation; five have balances; one begins distributions in 2040 .
Performance Compensation
| Compensation Metric | Plan | Target | Actual | Payout | Notes |
|---|---|---|---|---|---|
| Director equity grant | Non-employee director stock award | N/A | N/A | N/A | Annual grant is fully vested upon grant; no performance conditions |
- No performance-based metrics are tied to non‑employee director compensation; awards are structured as fixed retainers in cash and fully vested stock .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for Schiller |
| Compensation committee interlocks | None; all NCG members are independent and no executive officer served on another company’s board/comp committee creating an interlock |
Expertise & Qualifications
- Senior operating leadership of a major sports franchise (President & CEO of Atlanta Braves), bringing consumer-facing brand, operations, and strategic oversight experience .
- Serves on HVT’s NCG Committee overseeing compensation strategy, board composition, governance documents, ESG initiatives, and related party transaction review .
Equity Ownership
| Class | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Common Stock | 12,356 | * | Includes 5,696 shares under the Directors’ Deferred Plan; “*” denotes less than 1% of class |
| Class A Common Stock | — | — | No Class A holdings disclosed |
- Hedging/Pledging: HVT prohibits hedging, pledging, margin accounts; no outstanding pledges or margins by directors or executive officers .
- Director Stock Ownership Guidelines: Each non‑employee director must hold at least 5× the cash retainer; directors are prohibited from selling until guideline is reached; all meet or are on track .
Governance Assessment
-
Positive signals
- Independence and committee role: Schiller is independent and serves on a key committee (NCG) overseeing pay, ESG, nomination and related party transaction review—important for board effectiveness and alignment .
- Attendance and engagement: Board held 4 meetings; directors attended at least 83% of applicable meetings, with independent director executive sessions at each meeting—supports oversight quality .
- Ownership alignment: Equity retainer plus Schiller’s election to defer cash fees into common stock increases skin‑in‑the‑game; directors have strict ownership guidelines and anti‑hedging/pledging policies .
- Pay program oversight: NCG retains an independent consultant (Meridian), annually reviews peer group and succession; 2024 pay-for-performance rigor (e.g., PRSUs earned at 52% for EBITDA; sales PRSUs forfeited) indicates disciplined compensation governance environment Schiller helps oversee .
-
Potential concerns / RED FLAGS
- Dual-class capital structure concentrates voting power (e.g., Class A with 10 votes/share) and significant family ownership; may reduce the influence of independent directors and outside stockholders .
- Shareholder engagement optics: Directors historically do not attend annual meetings; 2024 had no directors in attendance and none expected in 2025, which may limit direct investor interaction at the meeting .
- Related parties: No related party transactions in 2024; policy and NCG oversight in place—no current conflict flagged .
-
Shareholder feedback
- Say‑on‑pay support: Approximately 98% approval in the prior advisory vote, signaling investor confidence in the compensation framework overseen by the NCG Committee .
-
Compensation peer group context
- The NCG Committee uses a retail/furniture/specialty retail peer set (e.g., Arhaus, La‑Z‑Boy, Ethan Allen, Miller Knoll, Bassett, Lovesac, Sleep Number) to benchmark executive pay—supports market‑based governance decisions .