Lawrence Jackson
About Lawrence V. Jackson
Lawrence V. Jackson, age 71, has served as an independent director of JBT Marel Corporation since 2020. He is Chairman of SourceMark LLC (since 2010; former CEO 2010–2012) and a Senior Advisor to New Mountain Capital LLC (since 2008), with 30+ years of senior executive and logistics management experience across Walmart, Dollar General, Safeway, and PepsiCo; he brings significant board leadership experience to JBTM . On JBTM’s board he serves on the Compensation & Human Resources Committee and the Governance & Sustainability Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Walmart Stores, Inc. | EVP, Chief People Officer; President & CEO, Global Procurement Division | 2004–2007 | Human capital and global procurement leadership relevant to supply chain/logistics |
| Dollar General Corporation | President & Chief Operating Officer | 2003–2004 | Retail operations and cost discipline experience |
| SourceMark LLC | Chairman; former Chief Executive Officer | Chairman since 2010; CEO 2010–2012 | Private company leadership; governance oversight |
| New Mountain Capital LLC | Senior Advisor | Since 2008 | Private equity advisory; portfolio oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Assurant, Inc. | Director | Since 2009 | Current public board |
| Bloomin’ Brands, Inc. | Director | Since 2020 | Current public board (restaurant sector) |
| Allied Waste Industries, Inc. | Director | 2003–2005 | Prior public board |
| Fresh America Corporation | Director | 1997–2001 | Prior public board |
| Prologis, Inc. | Director | 2008–2011 | Prior public board |
| RadioShack Corporation | Director | 2000–2005 | Prior public board |
| Snyder’s-Lance, Inc. | Director | 2015–2018 | Prior public board |
Board Governance
- Committee assignments: Member, Compensation & Human Resources Committee; Member, Governance & Sustainability Committee .
- Independence: Board determined Jackson and all non-employee directors are independent under NYSE, SEC, and Nasdaq Iceland rules; all members of the Compensation and Governance committees (including Jackson) meet enhanced independence standards .
- Attendance: The Board met 12 times in 2024; each incumbent director attended at least 75% of Board and of applicable committee meetings . Committee meeting counts: Audit (8), Compensation & HR (4), Governance & Sustainability (4) .
- Executive sessions: Regular executive sessions of independent directors are held after Board meetings, led by the independent Chair; Lead Independent Director not required while Chair is non-employee .
- Say-on-pay support: 2024 say-on-pay approval was 96.08% of votes cast, indicating strong investor support for compensation governance .
Fixed Compensation (Director)
Program structure and Jackson’s 2024 detail:
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Annual retainer: $95,000; directors may elect to receive 0%, 50%, or 100% in RSUs with remainder in cash; RSUs vest in May 2025 .
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Annual non-retainer RSU grant: $145,000, granted May 1, 2024; valued at $88.84 per share (closing price on grant date) .
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Chair/role fees (not applicable to Jackson): Audit Chair $20,000; Compensation Chair $15,000; Governance Chair $15,000; Chairman of the Board $120,000 .
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2024 director compensation for Jackson: | Component | Amount ($) | |---|---| | Fees Earned or Paid in Cash | $65,833 | | Stock Awards (RSUs) | $144,987 | | All Other Compensation | $5,325 | | Total | $216,145 |
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Reimbursements: Reasonable incidental expenses and matching charitable contributions program (up to $5,000) included in “All Other Compensation” per program terms .
Performance Compensation
- Non-employee director equity awards are time-based RSUs (retainer RSUs and annual RSUs); there are no performance-conditioned equity awards or bonus metrics for directors. RSUs may be distributed at vest or after Board service; unvested RSUs settle upon death/disability or in change-in-control per plan terms .
Other Directorships & Interlocks
- Current public boards: Assurant, Inc. (since 2009); Bloomin’ Brands, Inc. (since 2020) .
- Compensation committee interlocks: In 2024, Compensation & HR Committee members (Feldman, Kawalek, Jackson) had no insider participation; none have ever been officers/employees of JBTM; no executive officer served on the board or compensation committee of any entity with a JBTM executive on its board (i.e., no interlocks) .
- Related-party transactions: None involving “related persons” exceeding $120,000 since 2022; Audit Committee oversees related-party reviews; conflicts oversight embedded in Code of Business Conduct and Corporate Governance Guidelines .
Expertise & Qualifications
- 30+ years in senior executive roles across leading consumer products and food-related companies; logistics and operations expertise (Dollar General, Walmart, Safeway, PepsiCo) .
- Significant board leadership across multiple public and private companies; currently SourceMark Chairman and Senior Advisor at New Mountain Capital .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (as of Mar 18, 2025) | 8,133 shares; <1% of outstanding shares |
| Outstanding RSUs held (12/31/2024) | 8,133 RSUs (aggregate outstanding RSUs per director table) |
| Director ownership guideline | 5x annual retainer; all directors subject to the requirement are in compliance |
| Shares outstanding reference | 51,965,360 (as of Mar 18, 2025) |
| Hedging/pledging policy | Hedging and pledging of company stock prohibited under Insider Trading Policy |
Governance Assessment
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Strengths
- Independence and active committee service on Compensation & HR and Governance & Sustainability; both committees meet enhanced independence standards .
- Solid engagement: Board held 12 meetings; all directors achieved ≥75% attendance; regular executive sessions enhance independent oversight .
- Ownership alignment: Director ownership requirement (5x retainer) with compliance; RSU structure aligns pay with shareholder value; hedging/pledging prohibited .
- No interlocks/related-party conflicts disclosed; robust clawback and code of ethics framework .
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Potential risk considerations
- Multiple external commitments (two current public boards and Chair role at SourceMark) may pose time-allocation challenges, though no attendance shortfalls disclosed .
- Private equity advisory role (New Mountain Capital) warrants continued monitoring for potential future related-party dealings; Governance Committee reviews directors’ outside board requests and independence annually, mitigating conflict risk .
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Signals for investor confidence
- High say-on-pay support (96.08%) and use of an independent compensation consultant (Meridian) reflect strong governance practices around pay .
- Enhanced committee independence, executive sessions, and clear policies (insider trading, clawbacks) support board effectiveness and risk oversight .