Monte Ford
About Monte Ford
Monte Ford (age 65) is an independent director of Iron Mountain (IRM) with approximately 6 years of board tenure as of April 18, 2025. He chairs IRM’s Risk & Safety Committee and serves on the Compensation Committee, bringing deep CIO/technology transformation experience from American Airlines and Aptean, and ongoing board service at Akamai, JetBlue, and Centene. He holds a B.S. in Business Administration from Northeastern University and is affirmed independent under NYSE standards; each director attended at least 75% of Board and relevant committee meetings in 2024, and all directors standing for re‑election attended the 2024 annual meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CIO Strategy Exchange (CIOSE) | Principal Partner | May 2015–present | Cross-industry CIO consortium; technology oversight focus |
| Aptean, Inc. | Executive Chairman | May 2013–Sep 2013 | Enterprise software; tech transformation governance |
| Aptean, Inc. | Chief Executive Officer | Apr 2012–Apr 2013 | Operational leadership in enterprise software |
| Aptean, Inc. | Advisor | Feb 2012–Mar 2012 | Strategic advisory |
| American Airlines Group | SVP & Chief Information Officer | Dec 2000–Dec 2011 | Led large-scale IT and digital operations |
External Roles
| Company | Role | Tenure | Notes |
|---|---|---|---|
| Akamai Technologies, Inc. | Director | Jun 2013–present | CDN/cloud services oversight |
| JetBlue Airways | Director | Jan 2021–present | Airline operations oversight |
| Centene Corporation | Director | Nov 2022–present | Managed care governance; IRM director Ted Samuels also serves on Centene (interlock) |
| Michaels Companies, Inc. | Director (prior) | Sep 2015–Apr 2021 | Specialty retail board service |
Board Governance
- Committee assignments: Chair, Risk & Safety Committee; Member, Compensation Committee .
- Independence: Affirmed for all non‑employee directors under NYSE standards; no material relationships beyond board service .
- Attendance: Board met 4 times in 2024; each incumbent director attended ≥75% of Board and relevant committee meetings; all directors standing for re‑election attended the 2024 annual meeting .
- Board leadership: Independent Chair model (Pamela Arway); executive sessions at each Board and committee meeting .
- Risk oversight: Risk & Safety Committee monitors cybersecurity, AI, fire/health/safety, ERM program; receives CISO metrics and Chief Risk Officer reports .
| Committee | Role | 2024 Meetings | Key Oversight Areas |
|---|---|---|---|
| Risk & Safety | Chair | 4 | Cybersecurity and information security; AI governance; ERM; safety/security/continuity |
| Compensation | Member | 5 | CEO/exec pay; incentive plans; HCM/DEI; pay risk review; independent consultant support |
Fixed Compensation
| Element | IRM Non‑Employee Director Schedule (2024) | Monte Ford (2024) |
|---|---|---|
| Board Annual Cash Retainer | $85,000 | Included in “Fees Earned” |
| Committee Member Retainer | $15,000 per committee | Included in “Fees Earned” |
| Committee Chair Retainer | $20,000 per committee | Included in “Fees Earned” (R&S Chair) |
| Independent Chair Premium | $160,000 (not applicable to Ford) | — |
| Fees Earned or Paid in Cash | — | $135,000 |
| Stock Awards (RSUs, grant-date fair value) | $190,000 grant value (May 30, 2024) | $189,941 |
| Total | — | $324,941 |
- 2025 changes: Board cash retainer increased to $90,000; annual director stock grant value increased to $220,000 effective Jan 1, 2025 .
- Ford’s $135,000 cash fees are consistent with disclosed retainer schedules given his roles (Board $85,000 + Risk & Safety Chair $20,000 + Risk & Safety member $15,000 + Compensation member $15,000) .
Performance Compensation
| Grant Type | Grant Date | Shares/Units | Grant-Date Fair Value | Vesting | Deferral |
|---|---|---|---|---|---|
| RSUs (annual director grant) | May 30, 2024 | 2,385 RSUs for each non‑employee director (except pro‑rata cases) | $189,941 (Ford) | Vested immediately at grant | Directors may defer RSUs into phantom stock via DDCP; deferrals disclosed per director (none noted for Ford) |
- Director equity is not performance‑conditioned; immediate vesting aligns ownership with shareholders while DDCP allows elective deferral in phantom stock .
Other Directorships & Interlocks
| Counterparty | Interlock Detail | Potential Implication |
|---|---|---|
| Centene Corporation | Ford and IRM director Theodore R. Samuels both serve on Centene’s board | Information flow/networking benefits; monitor for related‑party transactions (none in 2024) |
- Overboarding policy: IRM limits non‑executive directors to ≤4 public company boards including IRM; Ford serves at IRM, Akamai, JetBlue, Centene—at the policy limit .
Expertise & Qualifications
- Technology and cybersecurity oversight; CIO leadership; digital transformation (American Airlines, Aptean, CIOSE) .
- Public company board experience across tech, airlines, and healthcare payor ecosystems .
- Education: B.S., Business Administration (Northeastern University) .
Equity Ownership
| Holder | Beneficial Shares | Vested Options | Percent Owned | Pledging/Hedging | Guideline Compliance |
|---|---|---|---|---|---|
| Monte Ford | 27,676 | — | <1% | Hedging/pledging prohibited; all directors in compliance as of Apr 18, 2025 | Directors must hold ≥6x annual cash retainer; all directors compliant as of Apr 18, 2025 |
| All Directors & Executive Officers (group) | 2,241,501 | 3,304,911 | 1.9% | See policy above | See policy above |
Data as of March 5, 2025 for beneficial ownership .
Governance Assessment
- Strengths: Chair of Risk & Safety with explicit AI oversight responsibility; robust ERM reporting cadence; independent status; strong board governance (independent Chair; executive sessions; clawback policy adopted Nov 30, 2023) .
- Alignment: Director stock ownership guidelines (6x cash retainer) and anti‑hedging/pledging policy; immediate-vesting RSUs promote ownership; no related‑party transactions in 2024 .
- Shareholder signals: Consistently high say‑on‑pay support (≈96% in 2024), suggesting investor confidence in compensation governance processes .
- RED FLAGS to monitor: Overboarding at the policy cap (four boards including IRM) could constrain capacity in crisis periods; interlock at Centene (with Samuels) warrants continued scrutiny for conflicts, though IRM reports no related‑party transactions in 2024 .
Overall, Ford’s technology risk expertise and leadership of IRM’s Risk & Safety Committee—covering cybersecurity and AI governance—are positives for board effectiveness and risk oversight. Cash and equity compensation levels are standard for IRM’s directors with clear ownership requirements and compliance, and current disclosures show no conflicts or pledging, supporting investor confidence .