Maggie Chu
ITTAbout Maggie Chu
Maggie Chu, age 56, is an independent director of ITT Inc., appointed in October 2024. She is Chief Human Resources Officer (CHRO) at Littelfuse, Inc. and brings 20+ years of HR leadership across global industrials, including Caterpillar and General Electric, with deep expertise in talent strategy and human capital for manufacturing organizations . She is independent under NYSE standards and company policies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| General Electric (GE) | Multiple senior HR roles across Lighting, Power, Oil & Gas | 14 years (dates not specified) | Senior HR leadership for global industrial divisions |
| Caterpillar | Segment HR Director, Energy & Transportation segment and Corporate Services | Not disclosed | Strategic HR leadership for ~$20B segment and corporate functions |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Littelfuse, Inc. (Nasdaq: LFUS) | Senior Vice President & CHRO | 2021–Present | Leads global HR and corporate communications; company market cap >$6B |
| Other public company boards | — | — | None; “Other Public Company Boards: 0” |
Board Governance
- Committee assignments: Member, Compensation and Human Capital Committee (CHC) .
- Independence: Board determined Chu (and all directors except the CEO) are independent under NYSE and company standards .
- Attendance: In 2024, the Board met 11 times and committees met 25 times; all directors attended ≥75% of aggregate Board and committee meetings. All directors on the Board at the time attended the 2024 annual meeting .
- Board leadership and process: Independent Chairman; regular executive sessions; robust director onboarding with one‑on‑ones; the Chair held one‑on‑ones with Ms. Chu after her first meeting to support integration and feedback .
Fixed Compensation (Non‑Management Director)
| Component | 2024 Amount | Detail |
|---|---|---|
| Annual cash retainer (standard) | $100,000 | Standard non‑management director cash retainer (pro‑rated for partial year) |
| Cash actually paid to Chu (pro‑rated) | $58,333 | For service from Oct 2024 to 2025 annual meeting |
Performance Compensation (Director Equity)
| Grant | Grant Date | Instrument | Shares/Units | Grant-Date Fair Value | Vesting/Terms |
|---|---|---|---|---|---|
| Annual equity award (pro‑rated) | Oct 1, 2024 | RSUs | Not stated in grant table; 612 RSUs outstanding at 12/31/24 | $90,417 | RSUs vest one business day prior to the next annual meeting; directors may defer receipt |
| Director equity policy | — | RSUs (standard) | $155,000 (standard annual value) | — | Standard equity retainer; pro‑rated for new directors |
Notes:
- Non‑management directors receive $100,000 cash and $155,000 in RSUs annually; Mr. Powers (Chair) and certain committee chairs receive additional fees (not applicable to Chu) .
- Chu’s 2024 totals: Cash $58,333; Stock awards $90,417; Total $148,750 (pro‑rated) .
- RSU grant pricing: Oct 1, 2024 awards used ITT closing price $147.86 .
- Director RSUs vest one business day before the next annual meeting; no dividends on unvested RSUs (dividend equivalents accrue and pay after vest) .
Other Directorships & Interlocks
| Item | Status | Evidence |
|---|---|---|
| Other public company boards | None | “Other Public Company Boards: 0” |
| Compensation committee interlocks | None | Proxy states no interlocks among CHC members and ITT executives |
| Related-party transactions | None disclosed; independence affirmed | Board reviewed director-affiliated transactions and determined independence; no material relationships . Related party review policy described |
Expertise & Qualifications
- Core skills: Talent strategy, executive succession, human capital management for multinational manufacturing; experience across industrial end markets; executive leadership and M&A exposure .
- Current operating role: CHRO of Littelfuse provides contemporary best‑practice HR insight relevant to CHC oversight (compensation, succession, culture) .
Equity Ownership
| Measure | Value | Notes |
|---|---|---|
| Beneficial ownership (Feb 1, 2025) | 0 shares | No direct or deferred beneficial ownership reported for Chu as of 2/1/2025 |
| Unvested RSUs outstanding (12/31/2024) | 612 units | Outstanding director stock awards table |
| Ownership as % of shares outstanding | <1% | Individual director holdings are each <1% |
| Shares pledged as collateral | None permitted | Directors prohibited from hedging/pledging ITT securities |
| Director ownership guideline | 5x annual cash retainer within 5 years | Applies to all non‑management directors; shares must be held until guideline met |
Governance Assessment
- Strengths for board effectiveness:
- Independent director with direct CHC membership, aligning her HR domain expertise to compensation, succession, and broader human capital oversight .
- Strong onboarding and engagement (one‑on‑ones with Chair post‑joining), plus independent Chair and regular executive sessions—supporting effective oversight and candid discussion .
- No compensation interlocks or related‑party relationships disclosed; independence affirmed .
- Robust director ownership policy (5x cash) and prohibition on hedging/pledging support alignment .
- Watch items / signals:
- Early‑tenure ownership is minimal (0 beneficial shares as of Feb 1, 2025; 612 unvested RSUs outstanding), which is typical for a newly appointed director and within the five‑year guideline compliance window .
- No other public boards (reduces interlock risk, but also fewer cross‑board information flows) .
- Shareholder sentiment context: Say‑on‑pay approval was 97.9% at the 2024 annual meeting, indicating broad investor support for ITT’s compensation program overseen by the CHC (of which Chu is now a member) .