Leslie J. Parrette
INNOSPECAbout Leslie J. Parrette
Independent director of Innospec Inc. (IOSP) since January 1, 2022; age 63. Parrette is President of One Page Thinking (founded 2003) and a former public-company General Counsel/Chief Compliance Officer with deep expertise in corporate governance, legal/regulatory compliance, global operations, M&A, and information security. He holds a B.A. in Sociology from Harvard College and a J.D. from Harvard Law School .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| One Page Thinking (data visualization company) | President (Founder) | 2003–present | Founded in 2003; currently serves as President |
| Novelis Inc. (subsidiary of Hindalco) | SVP, General Counsel, Compliance Officer and Corporate Secretary | 2005–2020 | Global aluminum rolling/recycling company; led legal and compliance |
| Aquila, Inc. (electricity and natural gas utility) | SVP, General Counsel and Secretary | 2000–2005 | Senior legal role prior to joining Novelis in 2005 |
| Blackwell Sanders, LLP (law firm) | Senior Partner; Chair, International Committee | 1992–2000 | Private practice leadership before corporate roles |
External Roles
| Organization | Type | Role | Tenure | Committees/Impact |
|---|---|---|---|---|
| — | Public company board | None disclosed | — | No current public company directorships listed for Parrette |
Board Governance
- Current committee assignments (2025): Compensation Committee (Member); Nominating, Corporate Governance & Sustainability Committee (Member) .
- Prior committee assignments (2024): Nominating, Corporate Governance & Sustainability Committee (Member) .
- Independence: Board determined all non-employee directors—including Parrette—are independent under Nasdaq rules and the company’s policy .
- Attendance: In 2024, the full Board and each committee met four times; each director attended all Board and committee meetings held while serving. In 2023, each director also attended all meetings .
- Years of service on IOSP board: ~3 years (since Jan 1, 2022) .
- Board leadership: Independent, non-executive Chairman (separate from CEO) .
- Executive sessions of independent directors: Four in FY2024; four in FY2023 .
- Overboarding policy: Non-employee directors limited to max 4 public boards; Audit Committee members max 3 audit committees; Parrette’s current public board roles: none (well within limits) .
Fixed Compensation
Director Compensation Structure (policy)
| Component | Amount/Terms | Source |
|---|---|---|
| Annual cash retainer (Chairman) | $175,000 | |
| Annual cash retainer (other NEDs) | $90,000 | |
| Committee chair retainers | Audit Chair $20,000; Compensation Chair $14,000; NCGS Chair $11,000 | |
| Audit Committee member retainer | $5,000 | |
| Meeting fees | None (except $2,000/day for additional days at CEO request) | |
| Annual equity grant | $97,500 in RSUs (granted in Feb; 3-year vest) | |
| Stock ownership guideline | 2× annual retainer within 5 years |
Parrette – Reported Director Compensation
| Metric | FY2023 | FY2024 |
|---|---|---|
| Fees earned or paid in cash ($) | 90,000 | 90,000 |
| Stock awards ($) | 64,104 | 94,294 |
| Option awards ($) | 12,777 | — (none reported) |
| Total ($) | 166,881 | 184,294 |
- Ownership guideline status: As of end-2024, stockholding for all NEDs exceeded 200% of the annual retainer (i.e., all above guideline thresholds) .
Performance Compensation
Directors do not receive performance-based cash bonuses; equity is time-based RSUs (three-year vest). In 2023, directors received a mix of options and full-value awards; in 2024, director equity was RSUs only .
Equity Awards and Outstanding Holdings (as of Feb 15, 2025)
| Instrument | Detail | Terms |
|---|---|---|
| Unvested RSUs | 782; 594; 1,000; 651 units outstanding | RSUs vest after 3 years; grant dates include Feb 26, 2024; Feb 27, 2023; May 6, 2022 |
| Stock options (outstanding) | 297 options @ $109.42; 325 options @ $99.94 | Options generally vest after 3 years; 10-year term (per policy) |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Current public company boards | None disclosed for Parrette |
| Interlocks/related party | No Parrette-related transactions disclosed. Company disclosed unrelated items (e.g., fees to Smith, Gambrell & Russell where a former director was Of Counsel; and 2023 product purchases from AdvanSix where the CEO is a director), but none involve Parrette . |
Expertise & Qualifications
- Core skills: Senior leadership; corporate governance; legal/regulatory/compliance; M&A; global experience; information security .
- Industry exposure: Energy trading, utilities, pipelines, aluminum manufacturing, electrical distribution; brings governance/compliance expertise valuable in a regulated specialty chemicals context .
Equity Ownership
| Metric | Feb 15, 2024 | Feb 15, 2025 |
|---|---|---|
| Shares owned directly/indirectly | 3,210 | 1,707 |
| Right to acquire within 60 days (opts/RSUs) | 0 | 0 |
| Total beneficial ownership (shares) | 3,210 | 1,707 |
| Percent of class | <1% | <1% |
- Hedging/pledging: Company policy prohibits hedging and pledging without prior approval; no pledging disclosed for Parrette .
- Ownership alignment: All NEDs above 200% of retainer by end-2024, indicating strong alignment with shareholders .
Governance Assessment
- Board effectiveness/engagement: Strong—100% attendance for 2023 and 2024; active participation on two key committees (Compensation; Nominating/Governance/Sustainability) .
- Independence and conflicts: Independent under Nasdaq and company standards; no Parrette-related related-party transactions; compliance and legal background supports robust oversight of ethics and controls .
- Compensation alignment: Balanced cash/equity mix; standardized retainers; RSUs vest over three years; ownership guideline exceeded—signals alignment with long-term performance .
- Red flags: None evident. Minor administrative late Form 4 filings were disclosed for some insiders in 2023 and 2024; Parrette’s name appears among directors with a late 2023 filing due to administrative error, which the company disclosed and is not indicative of governance failure .
- Net takeaway: Parrette’s legal/compliance expertise, independence, full attendance, and committee roles support board oversight quality with low conflict risk and solid ownership alignment—positive signal for investor confidence .