Robert Dechant
About Robert Dechant
Robert Dechant is Chief Executive Officer of IBEX (since July 2019) and a director (since January 2021). He is age 62 and holds a B.S. from Fairfield University. His prior roles include CEO of IBEX Global Solutions (2015–2017), CEO of IBEX Interactive (2017–2019), Chief Sales/Marketing & Client Services Officer at Qualfon (2012–2015), and Chief Marketing & Operations Officer at Stream Global Services . In FY2025, IBEX revenue was $558.3m, up from $508.6m in FY2024; EBITDA increased versus FY2024 as well (see Financial Performance table below). The Board maintains a separate Chair (Mohammed Khaishgi) and CEO structure; Dechant is a management director with no committee assignments and is not listed among the Board’s independent directors .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| IBEX Limited | CEO | Jul 2019–Present | Leads global BPO/CX operations and strategy |
| IBEX Interactive (IBEX’s operating group) | CEO | Sep 2017–Jul 2019 | Oversaw all IBEX operations (IBEX Global Solutions, IBEX Digital, IBEX CX) |
| IBEX Global Solutions | CEO | 2015–2017 | Led turnaround and growth initiatives pre/post IPO path |
| Qualfon, Inc. | Chief Sales, Marketing & Client Services Officer | 2012–2015 | Drove commercial growth at global BPO provider |
| Stream Global Services | Chief Marketing & Operations Officer | Pre-2012 | Senior operating leadership at multinational BPO (merged with Convergys in 2014) |
External Roles
| Type | Organization | Role | Years |
|---|---|---|---|
| Public company boards | — | None | — |
| Other | — | Not disclosed | — |
Financial Performance (context for pay-for-performance)
| Metric (USD) | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenues | $523.1m * | $508.6m * | $558.3m * |
| EBITDA | $59.5m * | $62.1m* | $65.8m* |
- Values retrieved from S&P Global.
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (% of Salary) | Actual Annual Bonus ($, Non-Equity Incentive) | Other Bonus ($) | Total ($) |
|---|---|---|---|---|---|
| 2025 | 637,500 | 150% | 1,011,978 | 100 (tenure recognition) | 2,663,006 |
| 2024 | 600,000 | 100% | 231,202 | 195,177 (Fast Track bonus) | 1,040,179 |
| 2023 | 600,000 | 100% | 398,876 | — | 1,015,446 |
- Base salary increased to $650,000 effective Oct 24, 2024 (paid $637,500 in FY2025 due to timing) .
Performance Compensation
Annual Cash Bonus Plan (Short-Term Incentive)
| Year | Metric Categories | Target Opportunity | Payout | Notes |
|---|---|---|---|---|
| 2025 | Pre-established financial and operational goals (Comp Committee) | 150% of salary | $1,011,978 | Standard cash-based non-equity incentive plan |
| 2024 | Predefined business and personal goals/objectives | 100% of salary | $231,202 | One-time “Fast Track” cash bonus also paid ($195,177) |
| 2023 | Financial and operational metrics | 100% of salary | $398,876 | — |
- Company disclosure does not provide metric weightings for the annual plan; payout tied to Comp Committee-approved business/operational performance .
Long-Term Equity Awards (Structure, Metrics, Vesting)
| Grant | Type | Target/Shares | Performance Metric | Target/Threshold | Payout/Cap | Vesting |
|---|---|---|---|---|---|---|
| Nov 8, 2024 | PSUs | 43,574 (target) | Relative TSR vs peer indices | Three performance periods (1-, 2-, 3-year TSR from Jul 1, 2024) | Up to 200% of target; max value capped at 5x grant-date FMV | One-third eligible to vest on Sep 30, 2025/2026/2027 based on period results |
| Nov 8, 2024 | RSUs | 21,787 | Time-based | — | — | 25% vested Jul 1, 2025; 25% annually thereafter |
| Apr 20, 2022 | PSUs | 124,582 (target) | Revenue and Adjusted EBITDA | Revenue ≥ $600m; EBITDA ≥ $74m (2025 proxy description) | 50% tied to each metric; 1/3 vests at achievement, remainder in equal annual installments over next 2 years | Upon goal attainment: immediate 1/3, then annual installments over two years |
| Dec 14, 2020 | Options (performance) | 20,000 | Share price | Full vest upon 30-day average close ≥ $30 before expiry | — | Expires 12/14/2030 |
| Aug 7, 2020 | Options (time-based) | 45,027 (exercisable) | — | Exercise price $19.00 | — | Fully vested by 2022; expires 8/7/2030 |
| Jun 30, 2020 | Options (time-based) | 69 (exercisable) | — | Exercise price $12.75 | — | Fully vested; expires 6/30/2030 |
- For the 2022 PSU description, the 2023 proxy stated an EBITDA goal of $100m (not $74m), indicating the company later described EBITDA goal as $74m in the 2025 proxy; verify grant-by-grant specifics in award agreements .
Equity Ownership & Alignment
Beneficial Ownership (Dechant)
| As of | Shares Beneficially Owned | % of Outstanding | Composition / Notes |
|---|---|---|---|
| Oct 3, 2025 | 201,546 | 1.5% | 181,477 common; 69 vested options; 20,000 unvested performance options vest 10/10/2025 |
| Oct 25, 2024 | 301,513 | 1.80% | 206,486 common; 95,027 vested options |
| Oct 1, 2023 | 301,513 | 1.7% | As per 2023 proxy table |
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Outstanding unvested awards at FY-end 2025 include: 21,787 RSUs (time-based; MV $634,002 at $29.10 stock price), 124,582 PSUs (MV $3,625,336), 43,574 PSUs (MV $1,268,003); options outstanding include 45,027 (exercisable at $19.00), 69 (exercisable at $12.75), and 20,000 performance options at $19.85 (price-trigger vesting) . Market value footnote uses $29.10 as of June 30, 2025 .
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Hedging/pledging: Company prohibits hedging and pledging (including margin, collars, forward sales, derivatives), improving alignment and reducing forced selling/pledge risk .
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Ownership guidelines: Not disclosed for executives in the proxy statements reviewed.
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Historical cumulative LTIP grants to Dechant under the 2020 plan: 115,027 options; 26,787 RSUs; 146,369 PSUs (target) .
Employment Terms
| Term | Detail |
|---|---|
| Employment Agreement date | April 2, 2015 |
| Current base salary | Increased from $600,000 to $650,000 on Oct 24, 2024 |
| Annual bonus eligibility | Performance-based bonus per Board/Comp Committee targets |
| Severance (no Cause / Good Reason) | 12 months’ salary continuation; continued benefits at active rates for the same period (offset if new employment/consulting as specified) |
| Non-compete | 15 months post-termination |
| Non-solicit | 24 months post-termination (customers, employees, consultants) |
| CoC treatment (equity) | Awards terminate unless assumed; if not assumed: options become fully exercisable; time-based RSUs vest; performance awards vest at target; if assumed and involuntary termination without cause within 2 years post-CoC, continued/assumed awards fully vest |
| Clawback | Company maintains compensation recoupment policy compliant with Exchange Act Section 10D and exchange rules; awards subject to clawback |
| Pension/Deferred comp | 401(k) match available; no defined benefit pension or nonqualified deferred compensation plans |
Board Governance (Director Service, Independence, Committees)
- Director since January 2021; committees: none; “Other public company boards: None” .
- Board leadership: separate Chair (Mohammed Khaishgi) and CEO; if combined in future, Board intends to designate a Lead Independent Director .
- Independence: Dechant is not listed among directors the Board deems “independent” under Nasdaq standards (independent directors named exclude him) .
Compensation Structure Analysis
- Mix shift: FY2025 shows meaningful equity grants (RSUs/PSUs) to Dechant ($997,845 grant-date value) versus no stock awards reported in FY2024—tilting pay more toward long-term equity alignment .
- Incentive leverage: Target annual bonus increased to 150% of salary in FY2025 from 100% in FY2024/FY2023, amplifying pay-for-performance sensitivity .
- Performance equity: PSU designs include (a) multi-period relative TSR with up to 2x payout and a 5x value cap and (b) operational PSUs tied to revenue and adjusted EBITDA thresholds, which enhance alignment but can create step-function vesting when thresholds are met .
- Governance protections: Prohibitions on hedging/pledging, clawback policy, and explicit prohibition on repricing underwater options without shareholder approval support shareholder-friendly compensation governance .
Vesting Schedules and Potential Selling Pressure (Forward Watch Items)
- RSUs from Nov 8, 2024: 25% vested on Jul 1, 2025; next tranches vest annually each Jul 1 (through 2028), creating predictable quarterly selling windows around vest and tax withholding events .
- TSR PSUs from Nov 8, 2024: Potential vesting on Sep 30, 2025/2026/2027 based on relative TSR; payouts vary up to 200% of target, capped by a value limiter (5x FMV) .
- 2022 PSUs: Vesting contingent upon achieving revenue ≥ $600m and adjusted EBITDA threshold (per 2025 proxy, $74m), with 1/3 immediate vest at achievement and 2/3 over two subsequent years .
- Options: Significant in-the-money options exist at $19.00 and $12.75 exercise prices given $29.10 share price at 6/30/2025; performance options (20,000 at $19.85) vest upon a 30-day average price of ≥ $30, a potential trigger to monitor .
Investment Implications
- Alignment and incentives: Elevated FY2025 at-risk pay (150% STI target; material RSU/PSU grants) and multi-metric PSU design (relative TSR and revenue/EBITDA) link compensation to both market-relative and operating results, supporting pay-for-performance alignment .
- Retention risk: Employment protections include 12 months’ salary continuation and restrictive covenants (15-month non-compete; 24-month non-solicit), while CoC provisions deliver equity vesting protection if awards are assumed and he is terminated without cause within two years—together reducing near-term retention risk .
- Trading/supply overhang: Scheduled RSU vesting each July 1 and TSR PSU windows each Sep 30 can create periodic liquidity events; in-the-money options and any PSU earnouts may add incremental supply depending on tax withholding and personal diversification .
- Governance quality: Prohibitions on hedging/pledging, presence of a clawback, and restrictions on repricing underwater options without shareholder approval mitigate common red flags and support shareholder-friendly oversight .