Renah Persofsky
HYDROFARM HOLDINGS GROUPAbout Renah Persofsky
Renah Persofsky (age 66) is an independent director of Hydrofarm Holdings Group, Inc. (HYFM), serving since November 10, 2020; she holds a degree from the Rotman School of Management at the University of Toronto and brings over 40 years of global business, e-commerce, and cannabis industry experience to the board . The board cites her selection due to global business and e-commerce expertise and cannabis industry experience; she was nominated for re‑election in 2025 as a Class II director for a term through 2028 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Strajectory Corp. | Chief Executive Officer | 2010 – Oct 2024 | Led corporate strategy and operations |
| Canadian Imperial Bank of Commerce (CIBC) | Executive Consultant | 2011 – 2021 | Advisory to bank leadership |
| Bank of Montreal (BMO) | Executive Officer | n/d | Executive leadership role |
| Tim Hortons; Canadian Tire; Canada Post; Interac | Executive Consultant (multiple) | n/d | Consulting to iconic brands |
| Canadian Minister’s Advisory Committee on Electronic Commerce | Co‑Chair | n/d | Public‑sector advisory leadership |
| Minister of Foreign Affairs and Trade | Special Advisor | n/d | Government advisory role |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Hub Cyber Security (Nasdaq: HUBC) | Chairwoman | Since Mar 2025 | Board leadership position |
| Tilray Brands, Inc. (Nasdaq: TLRY) | Director; Vice Chairwoman & Lead Director | Director since Oct 2017; Vice Chair & Lead Director since Oct 2019 | Cannabis industry leadership |
| Green Gruff Inc. | Chairwoman | Since Jul 2019 | Pet/wellness products with cannabis adjacency |
| Greenlane Holdings (Nasdaq: GNLN) | Director | Since Apr 2022 | Cannabis accessories distributor |
| Oceansix Future Paths Ltd. (TSXV: OSIX) | Director | Apr 2021 – Jan 2025 | Sustainability/industrial tech |
Board Governance
- Independence: Determined “independent” under Nasdaq rules; Persofsky is among five independent directors (Chung, Denis, Moss, Persofsky, Peters) .
- Committee assignments: Audit Committee member; Nominating and Corporate Governance Committee Chair; M&A Committee member (committee formed April 2021; temporarily suspended in 2023 with responsibilities at the full board) .
- Attendance: In FY2024 the board met 7 times and committees met 11 times; no director attended fewer than 75% of board and committee meetings; all directors attended the 2024 annual meeting .
- Audit Committee activity: Audit Committee met 4 times in FY2024; Persofsky serves with Moss (Chair) and Denis; Moss and Denis are designated “audit committee financial experts” .
- Nominating Committee activity: Nominating Committee met 2 times in FY2024; responsibilities include board composition, director evaluations, succession planning, and governance guidelines; Persofsky serves as Chair .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $75,000 | Standard non‑employee director fee |
| Committee chair fee (Nominating) | $10,000 | Chair fee per policy |
| Total cash fees paid (FY2024) | $85,000 | Persofsky’s cash fees in 2024 |
| Annual equity award (RSUs) – grant date fair value | $125,001 | 16,047 RSUs granted to each non‑employee director; vest on June 6, 2025 |
| Total FY2024 director compensation | $210,001 | Sum of cash and equity grant value |
- Non‑employee director ownership guidelines: Hold equity equal to 5x the annual cash retainer; Compensation Committee reviews progress periodically .
Performance Compensation
| Award Type | Grant Date | Shares/Units | Vesting Schedule | Performance Metrics |
|---|---|---|---|---|
| RSUs (annual director grant) | 2024 (around annual meeting) | 16,047 | Vest on June 6, 2025 | None; time‑based vesting |
- Directors receive time‑vested RSUs; no director performance metrics, options, or PSUs are disclosed for non‑employee director awards .
Other Directorships & Interlocks
| Company | Sector Overlap with HYFM | Potential Interlock/Notes |
|---|---|---|
| Tilray Brands (TLRY) | Cannabis production (end market adjacency) | Persofsky serves as Vice Chairwoman & Lead Director; industry adjacency noted; no related‑party transactions disclosed with HYFM since 1/1/2023 |
| Greenlane (GNLN) | Cannabis accessories distribution (end market adjacency) | External directorship; no HYFM related‑party transactions disclosed |
| Hub Cyber Security (HUBC); Green Gruff; Oceansix | Cybersecurity, wellness, sustainability | External roles outside HYFM’s core operations |
- Related‑party transactions: HYFM’s Audit Committee must pre‑approve transactions ≥$120k with related persons; HYFM reports no related‑party transactions since January 1, 2023 (other than Executive Chairman compensation noted separately) .
Expertise & Qualifications
- Global business, e‑commerce, and cannabis industry experience; prior executive and consulting roles at major financial institutions and consumer brands .
- Board leadership experience across multiple public and private companies; governance focus via Nominating Committee chair role at HYFM .
- Education: Rotman School of Management, University of Toronto .
Equity Ownership
| Holder | Direct Shares | Deferred RSUs (settleable within 60 days) | Total Beneficial Shares | % of Outstanding Shares | Reference Outstanding Shares |
|---|---|---|---|---|---|
| Renah Persofsky | 2,864 | 12,589 | 15,453 | ~0.33% (15,453 ÷ 4,615,725) | 4,615,725 (as of Mar 31, 2025) |
- Ownership category: “less than 1%” per HYFM’s beneficial ownership table; figures reflect post 1‑for‑10 reverse split completed on February 12, 2025 .
- Hedging/pledging: HYFM policy prohibits hedging, short sales, and pledging of company stock by directors and designated insiders .
- Director ownership guidelines: Target 5x cash retainer; Compensation Committee reports all non‑employee directors are making progress toward guidelines .
Governance Assessment
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Board effectiveness: Persofsky’s leadership as Nominating Committee Chair and membership on Audit supports governance, succession planning, and oversight; attendance thresholds met and active committee engagement in FY2024 .
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Independence and conflicts: Formally independent under Nasdaq rules; HYFM discloses no related‑party transactions involving directors since 1/1/2023, and has robust pre‑approval policies for related‑person transactions .
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Alignment and incentives: Director pay mix balanced (cash + RSUs), with time‑based equity and ownership guidelines promoting skin‑in‑the‑game; no director performance‑linked equity, options, or meeting fees disclosed .
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Risk indicators: Multiple outside directorships across cannabis‑adjacent companies may increase time‑commitment considerations in stressed periods; however, no HYFM related‑party transactions or hedging/pledging are permitted under company policy, mitigating alignment concerns .
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RED FLAGS: None disclosed—no low attendance, no pledged shares, no related‑party transactions, and no option repricings for directors in the proxy period .