Jennifer Allerton
About Jennifer Allerton
Jennifer Allerton (age 73) is an independent director of Iron Mountain with 40+ years of information technology leadership, including CIO of F. Hoffmann-La Roche (2002–2012) and Technology Director at Barclaycard (1999–2002) . She has served on IRM’s board for 11 years and is currently a member of the Audit Committee and the Risk & Safety Committee; the Board has determined she is independent and that Audit Committee members qualify as “audit committee financial experts” . Education: BSc Mathematics (Imperial College London), BSc Physical Sciences & Geosciences (Open University, UK), MSc Physics (University of Manitoba), and MSc Finance (Open University, UK) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| F. Hoffmann-La Roche | Chief Information Officer (Pharma Division and Group IT) | Jun 2002 – Jul 2012 | Led IT strategy/operations for pharma division and group-wide IT; extensive tech and data center application expertise . |
| Barclaycard (UK) | Technology Director | May 1999 – Jun 2002 | Oversaw fraud operations and IT . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Barclays Bank Ireland (Barclays Europe) | Board member (non-executive) | Current | European bank subsidiary of Barclays; current service disclosed . |
| Sandvik AB | Non-executive director | May 2015 – Apr 2024 | Publicly held global manufacturing company (prior public role) . |
| Aveva plc | Non-executive director | Jul 2013 – Jul 2022 | Publicly listed on LSE during tenure (prior public role) . |
| Paysafe Group plc | Non-executive director | Mar 2017 – Dec 2017 | LSE-listed during tenure (prior public role) . |
Board Governance
- Independence and attendance: The Board determined all non-employee directors (including Allerton) are independent under NYSE rules; every incumbent director attended at least 75% of Board and applicable committee meetings in 2024; the Board held four meetings in 2024 and all standing committees met 4–5 times each .
- Committee assignments (as of Apr 18, 2025): Audit Committee (member) and Risk & Safety Committee (member); Audit Committee members (including Allerton) are designated “audit committee financial experts” and financially literate; R&S oversees cybersecurity, AI, safety, insurance, and ERM .
- Board leadership and engagement: Independent Chair (Pamela Arway) with executive sessions at each Board and committee meeting; active shareholder engagement policy overseen by N&G Committee .
- Related-party oversight: Audit Committee approves/ratifies related-party transactions; no new related-person transactions required review in 2024 .
Fixed Compensation (Director)
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual Board retainer (cash) | $85,000 | Standard non-employee director cash retainer . |
| Committee member retainers (cash) | $30,000 | $15,000 per committee; Allerton served on two (Audit; Risk & Safety) . |
| Total cash fees (Allerton 2024) | $115,000 | Matches “Fees Earned or Paid in Cash” in 2024 Director Compensation table . |
| Chair retainers (if any) | N/A | Allerton was not a committee chair in 2024 . |
| 2025 adjustments | Retainer to $90,000; annual stock grant value to $220,000 | Effective Jan 1, 2025 . |
Performance Compensation (Director Equity)
| Grant Date | Instrument | Shares/Units | Grant Date Fair Value | Vesting | Notes |
|---|---|---|---|---|---|
| May 30, 2024 | RSUs | 2,385 | $189,941 | Vested immediately on grant | Standard annual grant for non-employee directors at 2024 meeting; value based on $190,000 target divided by FMV; immediate vesting . |
| 2025 policy | RSUs | n/a | $220,000 (value target) | Per plan terms | 2025 annual grant value increased to $220,000 . |
| Deferrals | Phantom stock (DDCP) | n/a | n/a | n/a | Directors may defer cash retainers and/or RSUs into phantom stock; dividends accrue as phantom stock; paid in stock at elected dates; no company match . |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None listed for Allerton in IRM proxy; current role is at Barclays Bank Ireland (subsidiary; not disclosed as a public listing) . |
| Prior public company boards | Sandvik AB (2015–2024), Aveva plc (2013–2022), Paysafe Group plc (2017) . |
| Committee roles elsewhere | Not specified in IRM proxy beyond company listings . |
| Interlocks/conflicts | No related-person transactions disclosed for 2024; Audit Committee reviews per policy . |
Expertise & Qualifications
- Technology and cybersecurity: 40+ years in IT leadership; prior CIO of Roche; Risk & Safety Committee oversight includes cybersecurity and AI risks .
- Financial oversight: Audit Committee member; Board designated Audit members as “audit committee financial experts”; financially literate per NYSE standards .
- Education: BSc Mathematics (Imperial College), BSc Physical Sciences & Geosciences (Open University, UK), MSc Physics (Univ. of Manitoba), MSc Finance (Open University, UK) .
- Global operations: Led complex international IT operations; experience across multinational enterprises .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (Mar 5, 2025) | 16,495 shares; less than 1% of outstanding . |
| Ownership guidelines | Directors must hold stock ≥6x annual Board cash retainer; all non-employee directors in compliance as of Apr 18, 2025 . |
| Pledging/hedging | Prohibited for directors (hedging and pledging banned; no margin accounts) . |
| Section 16 compliance | All required filings made on time in 2024; no delinquencies . |
Governance Assessment
-
Strengths for investor confidence:
- Independent director with dual oversight on Audit and Risk & Safety; designated audit committee financial expert status enhances financial and risk oversight .
- Strong attendance and independent Board structure with an independent Chair; executive sessions at each meeting .
- Aligned incentives: majority of director pay in equity (2024: $189,941 equity vs $115,000 cash for Allerton); stock ownership requirement (6x retainer) and company-wide prohibitions on hedging/pledging .
- No related-party transactions in 2024 and robust Related Persons Policy .
- Shareholder-friendly signals: 2024 Say-on-Pay support ~96% and ongoing investor engagement policy .
-
Watch items:
- Tenure is 11 years (balance with ongoing refreshment noted by new director appointment in 2025); investors may monitor continued refreshment and skill mix over time .
Overall, Allerton brings deep technology, cybersecurity, and multinational operating expertise to Audit and Risk oversight, with clear independence, strong attendance, and equity-aligned compensation—factors supportive of board effectiveness and investor confidence .