Alejandro Franco
About Alejandro Franco
Alejandro Franco, age 71, is an independent director of Iveda Solutions, serving on the board since November 2011 and concurrently acting as a consultant to the company since 2011 with focus on business development and strategic partnerships in Mexico . He founded and has served as President of Amextel (telecommunications) since June 2003, and is CEO of the Mexican American Business Council since June 2015; earlier he founded Bela Corp. (1988–2000) and TVM, Inc. (1985–1988) . Education includes studies in Economics at UNAM, Industrial Design at IBERO, and a Master’s degree in Theology from the Oblate School of Theology in San Antonio, Texas . The board classifies Franco as independent under Nasdaq Rule 5605 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bela Corp. | Founder and President | 1988–2000 | Cloud technology and services leadership |
| TVM, Inc. | Founder and President | 1985–1988 | Television and technology operations in Mexico |
External Roles
| Organization | Role | Start Date | Notes |
|---|---|---|---|
| Amextel (Mexico) | Founder and President | June 2003 | Telecommunications company |
| Mexican American Business Council | CEO | June 2015 | Non-profit facilitating border relationships for trade and investment |
Board Governance
- Committees: Audit Committee (member), Compensation Committee (member), Nominations & Corporate Governance Committee (member). Audit and Compensation are chaired by Joseph Farnsworth; Nominations & Corporate Governance is chaired by Robert D. Gillen .
- Independence: Board has four directors; three are independent under Nasdaq rules, including Franco .
- Lead independent director: Company does not have a lead independent director .
- Legal proceedings: No directors/officers with disqualifying legal findings in the past five years as disclosed .
| Committee | Franco’s Role | Chair | Key Responsibilities |
|---|---|---|---|
| Audit | Member | Joseph Farnsworth | Oversees financial reporting, auditor appointments, internal controls, and reviews proposed related-party transactions |
| Compensation | Member | Joseph Farnsworth | Reviews/approves executive compensation and incentive/equity plans; oversees adviser independence |
| Nominations & Corporate Governance | Member | Robert D. Gillen | Director qualifications, board/committee evaluations, shareholder communications |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Cash retainer ($) | $0 | $0 |
| Committee membership fees ($) | $0 | $0 |
| Committee chair fees ($) | $0 (no chair role) | $0 (no chair role) |
| Meeting fees ($) | $0 | $0 |
Notes:
- Non-employee directors receive stock-based compensation; no additional compensation is paid for committee service or chair roles .
Performance Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Director option awards – number of options | 6,250 options | 15,000 options |
| Director option awards – fair value ($) | $17,042 | $18,637 |
| Stock awards ($) | $0 | $0 |
| Non-equity incentive plan compensation ($) | $0 | $0 |
- No performance metrics (e.g., revenue/EBITDA/TSR) tied to director compensation are disclosed; awards are option-based equity compensation .
Other Directorships & Interlocks
- Public company directorships: None disclosed in the director biography/nominee sections .
- Interlocks/related parties: Audit Committee reviews and approves related party transactions; Company reports no transactions above the SEC threshold since January 1, 2020, other than compensation arrangements . Franco holds shares via Amextel S.A. de C.V., an entity he owns, as part of his beneficial ownership (see Equity Ownership) .
Expertise & Qualifications
- Telecommunications and cloud technology operating experience; cross-border business development and strategic partnerships in Mexico .
- Governance and committee experience across Audit, Compensation, and Nominations .
- Education combining economics, industrial design, and theology; international perspective .
Equity Ownership
| Metric | 2024 | 2025 |
|---|---|---|
| Beneficial ownership (shares) | 18,601 | 32,819 |
| Ownership % of shares outstanding | 0.8% (of 2,258,737) | 0.5% (of 5,829,741) |
| Options exercisable within 60 days (shares) | 14,694 | 28,912 |
| Shares held via Amextel S.A. de C.V. (shares) | 3,907 | 3,907 |
Governance Assessment
- Independence and committee coverage: Franco is classified independent and serves on all three standing committees, providing broad governance exposure; the absence of a lead independent director is a structural consideration for board effectiveness .
- Compensation and alignment: Director pay is equity-heavy (options only, no cash/meeting/committee fees), supporting alignment with shareholder outcomes, though no performance metrics are disclosed for director awards .
- Ownership: Beneficial holdings increased from 18,601 shares (0.8%) in 2024 to 32,819 shares (0.5%) in 2025, including options exercisable within 60 days and shares held through Amextel, indicating skin-in-the-game but modest percentage ownership given increased outstanding shares .
- Conflicts/RED FLAGS: Franco’s long-standing consulting relationship with Iveda (since 2011) presents a potential independence/conflict consideration despite Nasdaq independence designation; however, the company discloses no related party transactions above the SEC threshold since 2020 and the Audit Committee oversees such matters .
- Legal and compliance: No disclosed adverse legal proceedings involving directors/officers; the Audit Committee practices and pre-approval policies are described, supporting oversight integrity .