Veronique Gabai-Pinsky
INTERPARFUMSAbout Veronique Gabai-Pinsky
Veronique Gabai-Pinsky, age 59, is an independent director of Inter Parfums, Inc. (IPAR), first elected in September 2017 (also a director of Interparfums SA since April 2017). A graduate of ESSEC Business School (Paris), she brings 25+ years of luxury/beauty leadership, including Global President for Aramis & Designer Fragrances and Beauty Bank at Estée Lauder, President of Vera Wang Group, and senior brand-building roles at Guerlain, L’Oréal, and Giorgio Armani .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Vera Wang Group | President | Jan 2016 – Jun 2018 | Oversaw all product categories and markets |
| The Estée Lauder Companies | Global President, Aramis & Designers Fragrances; Beauty Bank & Idea Bank | 2006 – Dec 2014 | Grew designer fragrance brands; portfolio optimization; brought in Tory Burch, Zegna, Marni licenses; participated in acquisitions of Le Labo, Frederic Malle, By Kilian |
| Guerlain (LVMH) | VP Marketing & Communication | Earlier career | Led Shalimar relaunch; introduced Aqua Allegoria; refocused beauty pillars |
| Giorgio Armani (at L’Oréal) | VP Marketing | Earlier career | Drove Acqua di Gio and Emporio Armani fragrance franchises |
| L’Oréal | Marketing roles | Career start | Brand development experience |
External Roles
| Organization | Role | Start/Status | Notes |
|---|---|---|---|
| Lifetime Brands (Nasdaq: LCUT) | Director | Current | Public company directorship |
| Interparfums SA (Euronext) | Director | Apr 2017 – Current | IPAR’s majority-owned French subsidiary |
| Parfums de Marly (private) | Director | Current | Privately held fragrance company |
| Specialty Fragrance Startup | Founder/Operator | Current | Operating a startup specialty fragrance business |
Board Governance
- Committee assignments: Member, Audit Committee; Executive Compensation & Stock Option Committee; Nominating Committee. Chair roles across these committees are held by François Heilbronn (not Ms. Gabai-Pinsky) .
- Independence: Classified as an independent director under Nasdaq rules; and independent for Audit Committee service .
- Attendance: The Board held 23 meetings (including committee meetings/consents) in 2024; all directors attended at least 75% of the meetings of the Board and committees on which they served .
- Audit Committee financial expert: The company discloses it does not have an “audit committee financial expert” designated under SEC rules .
- Board leadership: No Lead Independent Director; Chair and CEO roles combined (Jean Madar) .
| 2024 Board Activity | Value |
|---|---|
| Total meetings (Board and committee/consents) | 23 |
| Director attendance threshold (board-wide) | ≥75% met by all directors |
Fixed Compensation (Director)
- Structure: $6,000 per in-person Board meeting; $3,000 per telephonic Board meeting; Audit Committee annual membership fee $8,000 .
- 2024 Director compensation (IPAR fiscal year) for Ms. Gabai-Pinsky:
| Component | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $26,000 |
| Stock/Equity Awards | $0 |
| Option Awards (grant-date fair value) | $49,969 |
| Non-Equity Incentive Comp | $0 |
| Change in Pension/Deferred | $0 |
| All Other Compensation (option exercise gain) | $85,065 |
| Total | $161,034 |
Performance Compensation (Director Equity)
- Annual option program for independent directors: Automatic grant on last business day of each year; 1,500 options granted on Dec 31, 2024 to each independent director at fair market value of $130.60 per share; vest 20% one year after grant, then 20% annually through year 5 (fully vested by start of year 6). Grants may be reduced for insufficient meeting attendance .
- No performance-condition metrics disclosed for director equity; options are time-vested .
| Grant/Outcome | Detail |
|---|---|
| Grant date | Dec 31, 2024 |
| Number of options | 1,500 |
| Exercise price | $130.60 per share |
| Vesting schedule | 20% at 1-year; then 20% annually through year 5 |
| Grant-date fair value (2024 Option Awards) | $49,969 |
| 2024 option exercise gain (reported as All Other Comp) | $85,065 |
Other Directorships & Interlocks
| Company | Ticker | Role | Notes |
|---|---|---|---|
| Lifetime Brands | LCUT | Director | Current public company role |
| Interparfums SA | — | Director | Majority-owned subsidiary of IPAR; listed on Euronext |
| Parfums de Marly | — | Director | Private company |
No related-party transactions involving Ms. Gabai-Pinsky are disclosed in the proxy’s “Certain Relationships and Related Transactions” section; disclosed related-party items involve other directors/executives (e.g., CEO service agreement; fee to a company controlled by Director Harrison) .
Expertise & Qualifications
- Luxury/beauty/fragrance operator with brand-building track record (Estée Lauder, Vera Wang, Guerlain, Armani/L’Oréal) .
- M&A and portfolio optimization experience (participated in acquisitions like Le Labo, Frederic Malle, By Kilian) .
- Governance experience on multiple boards (public and private), including Lifetime Brands (LCUT) and Interparfums SA .
- Independent member of Audit, Compensation, and Nominating committees at IPAR .
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership (shares) | 900 (consists of shares underlying options exercisable within 60 days) |
| % of shares outstanding | Less than 1% |
| Ownership form | Options counted for beneficial ownership within 60 days |
| Hedging/Pledging | Company anti-hedging policy prohibits hedging by directors |
Governance Assessment
-
Positives for investor confidence
- Independent director serving on all three key committees (Audit, Compensation, Nominating), enhancing board oversight across financial reporting, pay, and nominations .
- Deep sector expertise aligned with IPAR’s core fragrance business; broad brand and M&A skill set relevant to licensing and portfolio strategy .
- Section 16(a) compliance: company reports no late filings for reporting persons; supports governance hygiene .
- Anti-hedging policy in place for directors, aligning with good-practice safeguards .
-
Watch items / potential red flags
- Minimal direct equity ownership at IPAR (beneficial ownership of 900 shares via options; <1%): alignment relies on option exposure rather than material stock holdings .
- Board-level structure: no Lead Independent Director; Chair/CEO combined, which can concentrate power; mitigated in part by committee independence .
- Audit Committee has no designated “financial expert” per SEC definition—company cites recruitment and liability concerns; still a governance quality shortfall for many investors .
- Board diversity disclosure notes only one female director on a nine-member board—improving representation remains a consideration .
- Related-party transactions exist at the company (e.g., CEO service agreement; director-related fee), though none are attributed to Ms. Gabai-Pinsky; continued rigorous Audit Committee review is important .
- Director equity is time-vested options without performance metrics; while options align with share price appreciation, absence of performance hurdles may be viewed as weaker pay-for-performance for directors .
-
Say-on-pay signal (context)
- The Compensation Committee reports the most recent say-on-pay vote (Sept 2024) “overwhelmingly approved” executive compensation policies, indicating general shareholder support for IPAR’s pay governance at that time .