June Youngs
About June S. Youngs
June S. Youngs (age 67) is an Independent Trustee of Industrial Logistics Properties Trust, serving since 2022. She sits on the Audit Committee and the Compensation Committee, and has been deemed independent by the Board under Nasdaq and SEC standards and ILPT’s governing documents. Her background is in large-scale logistics and supply chain leadership across consumer, retail, and CPG sectors. In 2024, she met the Board’s attendance expectation (75%+ of Board and committee meetings) and attended the annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact | Source |
|---|---|---|---|---|
| CVS Health | Vice President, Corporate Logistics | Through April 2019 | Led logistics planning, budgeting, quality/compliance, industrial engineering, supply chain transformation | |
| Ocean Spray Cranberries | Director, North American Supply Chain | Until joining CVS in 2014 | Supply chain leadership | |
| Hasbro, Inc. | Senior Vice President, Global Supply Chain & Logistics | 1997–2005 | Global logistics leadership | |
| Nabisco, Inc. | Director of Distribution & Transportation | 1984–1997 | Distribution and transportation leadership |
External Roles
| Organization | Role | Tenure/Status | Focus/Notes | Source |
|---|---|---|---|---|
| Bryant University | Executive in Residence, Global Supply Chain Management | Current | Academic-industry interface in supply chain | |
| Northeastern University (D’Amore-McKim) | Board of Visitors; Supply Chain Advisory Board | Current | Advisory/oversight in business/supply chain programs | |
| University of Rhode Island | Supply Chain Advisory Board | Current | Advisory role | |
| National Industrial Transportation League (New England Chapter) | Past Chair and Board Member | Historical | Industry leadership | |
| Council of Supply Chain Management Professionals | Member | Historical | Professional leadership |
Board Governance
- Committees: Audit Committee member; Compensation Committee member. The Audit Committee met 8 times in 2024; the Compensation Committee met 5 times. The Board determined all Audit Committee members are financially literate (Audit Chair is the committee’s “financial expert”).
- Independence: The Board affirmed that Youngs qualifies as an Independent Trustee under Nasdaq/SEC and ILPT’s governing documents; her nominee biography explicitly notes Independent status.
- Attendance and engagement: In 2024, each Trustee attended 75%+ of Board and applicable committee meetings and attended the annual meeting.
- Board leadership: Lead Independent Trustee is Dr. Bruce M. Gans; Independent Trustees meet in executive session at least twice per year.
- Election cycle: ILPT’s Board is declassified; all Trustees stand for annual election.
Fixed Compensation
| Year | Component | Amount (USD) | Notes | Source |
|---|---|---|---|---|
| 2024 | Annual cash retainer | $85,000 | Standard Independent Trustee annual fee | |
| 2024 | Committee chair fees | $0 | Not a chair (Audit Chair/Comp Chair fees go to others) | |
| 2024 | Other cash/meeting fees | $0 | No meeting fees disclosed | |
| 2024 | Total cash | $85,000 | Sum of cash components |
Performance Compensation
Note: ILPT compensates Trustees with annual equity grants that fully vest on the grant date; there are no performance conditions or options disclosed for Trustees.
| Grant Date | Instrument | Shares Granted | Grant-Date Fair Value | Vesting | Source |
|---|---|---|---|---|---|
| May 30, 2024 | Common Shares | 23,316 | $90,000 | Fully vested on grant date |
No stock options, PSUs, or performance metrics are disclosed for directors’ compensation.
Other Directorships & Interlocks
| Company | Role | Committee Roles | Notes |
|---|---|---|---|
| None (RMR-managed public clients) | — | — | Youngs serves on no other RMR client public boards. |
| None (Non-RMR public companies) | — | — | No other public company directorships disclosed. |
Expertise & Qualifications
- Deep supply chain/logistics leadership across retail/CPG (CVS, Ocean Spray, Hasbro, Nabisco), plus academic roles in supply chain, supporting ILPT’s industrial/logistics portfolio oversight.
- Financial literacy (as required for Audit Committee service); Audit Committee as a whole deemed financially literate by the Board.
- Governance focus areas include risk oversight and ESG exposure through committee responsibilities and Board-wide oversight.
Equity Ownership
| As of | Beneficial Ownership (Shares) | % of Outstanding | Ownership Guidelines | Compliance | Hedging/Pledging |
|---|---|---|---|---|---|
| March 12, 2025 | 46,816 | <1% | Trustees expected to hold ≥20,000 shares within 5 years | All Trustees met guidelines as of March 12, 2025 | Hedging prohibited by policy; no pledging disclosure |
Governance Assessment
Positives
- Independent director with relevant logistics and supply chain expertise aligned to ILPT’s asset base; serves on both Audit and Compensation committees.
- Strong board process indicators: all-Audit members financially literate; independent executive sessions; declassified board with annual elections; attendance thresholds met.
- Alignment mechanisms: annual director equity grant; share ownership guideline of 20,000 shares with compliance achieved. Hedging prohibited for Trustees.
Risks / RED FLAGS to Monitor
- Related-party exposure: ILPT is externally managed by The RMR Group. In 2024, ILPT paid ~$23.4M in business management fees and ~$13.3M in property management/construction supervision fees to RMR. ILPT also made substantial equity awards to RMR employees (204,915 shares in 2024). These create ongoing conflicts to be overseen by independent directors.
- Influence of manager in compensation processes: Compensation Committee deliberations included discussions with Adam Portnoy (RMR CEO and ILPT Chair) and other RMR client compensation chairs, with RMR providing recommendations on ILPT share awards—raising alignment concerns even though decisions rest with the independent committee.
- Structural dependency: ILPT consented in Jan 2025 to the pledge/assignment of RMR’s interest in ILPT’s management agreements as collateral for RMR’s $100M credit agreement, underscoring reliance on RMR and adding counterparty risk to core agreements.
Overall, Youngs’ logistics expertise and committee roles support board effectiveness; however, the RMR-related structure, fee dependencies, and manager involvement in compensation processes elevate governance risk that independent trustees (including Youngs) must continue to mitigate through rigorous oversight and adherence to related-party transaction policies.