Susan Morris
IDACORPAbout Susan D. Morris
Susan D. Morris is an independent director of IDACORP, Inc. (parent of Idaho Power), serving since 2023; she is 56 and currently Chief Executive Officer of Albertsons Companies (appointed May 2025) after previously serving as EVP & Chief Operations Officer (2018–2025) . She is a Colorado State University alumna and resides in Boise, Idaho, reflecting close ties to IDACORP’s service region .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Albertsons Companies | EVP & Chief Operations Officer | 2018–2025 | Led operations across >2,200 stores in 35 states; accelerated digital, e‑commerce, loyalty . |
| Albertsons Companies | EVP, Regional Operations; Division President (Intermountain; Denver) | 2013–2016 (divisions); prior years in merchandising/ops | Division leadership; retail operations execution . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Albertsons Companies (NYSE: ACI) | Chief Executive Officer and Director | 2025–present | Appointed CEO May 2025; Director on ACI board . |
| Food Marketing Institute | Director | Ongoing | Industry association board service . |
| IDACORP, Inc. | Director | 2023–present | Independent director; initially appointed May 2023 . |
Board Governance
- Independence: IDACORP board determined all directors except the CEO are independent under NYSE standards and corporate guidelines; Morris is independent .
- Committee assignments: Current member, Audit Committee (2024; eight meetings); named in Audit Committee report . Proposed post‑2025 Annual Meeting: Corporate Governance & Nominating Committee (not chair) .
- Attendance: Board held four meetings in 2024; each director attended at least 75% of board and applicable committee meetings; all attended the 2024 annual meeting .
- Executive sessions: Independent chair presides; independent directors meet in executive session periodically (≥ annually) .
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Cash fees (total) | $112,000 | Includes $100,000 base retainer and committee retainers per schedule . |
| Annual stock award (grant-date fair value) | $139,919 | Based on closing price $88.11 on 2/29/2024 . |
| Total 2024 Director Compensation | $251,919 | No options; no meeting fees; small charitable match not applicable to Morris . |
Annual director compensation schedule (policy): Base retainer $100,000; committee annual retainers—Audit $12,000; Compensation & HR $8,500; Corporate Governance & Nominating $7,500; Executive $3,000; Chair retainers—Board $100,000; Audit $15,000; Comp & HR $15,000; Corporate Governance & Nominating $12,500; Annual stock awards $140,000 .
Deferrals: Directors may defer cash fees (Moody’s utility rate interest) and stock awards into deferred stock units (DSUs) with dividend equivalents, payable in shares post-separation; DSU accounts pay out lump sum on change in control .
Performance Compensation
| Metric/Structure | Details |
|---|---|
| Director equity grant | Annual stock award; grant date 2/29/2024; fair value $139,919; time-based; directors may elect DSU deferral with dividend equivalents . |
| Performance metrics tied to director compensation | Not applicable; IDACORP does not use performance metrics (e.g., TSR) for non‑employee director equity awards . |
Other Directorships & Interlocks
| Entity | Relationship | Relevance |
|---|---|---|
| Albertsons Companies | CEO & Director | Large regional retailer headquartered in Boise; potential customer of Idaho Power (no related person transactions disclosed) . |
| Food Marketing Institute | Director | Industry network; no disclosed IDACORP transactions . |
Expertise & Qualifications
- Deep multi-decade retail operations leadership (store operations, merchandising, divisional and enterprise roles) supporting audit oversight of customer reliability and operations risk .
- CEO experience with digital, e‑commerce, loyalty, retail media—useful for technology and customer strategy oversight .
- Regional nexus to IDACORP’s service area; engagement with Boise business community .
Equity Ownership
| Holder | Shares Beneficially Owned | Percent of Class | As of | Notes |
|---|---|---|---|---|
| Susan D. Morris | 3,633 | Less than 1% | March 17, 2025 | No IDACORP stock options outstanding . |
Director stock ownership guidelines: Minimum ownership equal to 5× base annual retainer ($500,000), 5-year compliance window; all directors were in compliance as of Dec 31, 2024 . Anti‑hedging and anti‑pledging policies apply equally to directors; hedging and pledging prohibited .
Related Party & Conflicts Review
- Related person transactions: Proxy discloses Perkins Coie engagement (Malmen spouse), and compensation of certain Idaho Power employee relatives; no related person transaction involving Susan Morris was reported .
- Governance process: Corporate Governance & Nominating Committee pre‑approves/oversees related person transactions (>$120,000) and charitable contributions; arm’s‑length standards required .
Say‑on‑Pay & Shareholder Feedback
- 2024 say‑on‑pay advisory vote: 94.5% approval, signaling strong support for compensation practices and governance framework .
Governance Assessment
- Strengths: Independent status; strong attendance; active on Audit with eight meetings; robust anti‑hedging/pledging; clear director stock ownership guidelines with compliance; director equity aligns interests; board conducts annual self‑evaluations and maintains independent committee structures .
- Potential risks/monitoring items: Dual role as CEO of a major regional retailer could present perceived interlocks; no related transactions disclosed, but continued oversight warranted where Idaho Power is a supplier to commercial customers (monitor through related‑party policy reviews) .
Notes on Committee Transitions
- Current: Audit Committee member, named in Audit Committee report .
- Proposed post‑2025 meeting: Corporate Governance & Nominating Committee member (chair positions remain with other directors) .