Tracey Joubert
JELD-WEN HoldingAbout Tracey I. Joubert
Tracey I. Joubert (age 58) is the Chief Financial Officer of Molson Coors Beverage Company and has served on JELD‑WEN’s board since 2021. She is an independent director and the Audit Committee Chair, with deep expertise in risk management, corporate finance, M&A integration, and global transformation drawn from senior finance roles at Molson Coors, MillerCoors, and South African Breweries .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Molson Coors Beverage Company | CFO | 2016–present | Led 2019 revitalization plan; guided brand/core market strategy |
| MillerCoors | EVP & CFO; Controller; VP FP&A | 2003–2016 | Executed sale of MillerCoors to Molson Coors in 2016; integration doubled Molson Coors revenue from $5.1B to $13.5B by 2017 |
| Miller Brewing Company | VP & Controller | 2005–2008 | Finance leadership |
| South African Breweries | Finance roles (Manager, Services, Technical Accounting) | 1998–2003 | Accounting/controls experience |
| Salmac Stainless Steel | CFO | 1995–1997 | Corporate finance leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Molson Coors Beverage Company | CFO | 2016–present | Active operating executive (not a JELD‑WEN supplier/customer) |
| Cooper Tire & Rubber Company | Director | 2017–2021 | Prior public company board experience |
Board Governance
- Committee assignments and leadership:
- Audit Committee: Chair; qualifies as “audit committee financial expert” (Joubert, Franzen, Wynne identified as experts) .
- Compensation Committee: Member .
- Independence: Board affirmatively determined Joubert is independent under NYSE and Exchange Act Rule 10A‑3(b)(1) .
- Attendance and engagement:
- Board held 11 meetings in 2024; all directors attended ≥75% of Board/committee meetings; all directors attended the 2024 annual meeting .
- Executive sessions of independent directors held at all Board and committee meetings .
- Committee activity levels (FY2024): Audit (8), Compensation (6), Governance & Nominating (4) .
Fixed Compensation
| Component | Policy Detail | Joubert 2024 Amount |
|---|---|---|
| Annual cash retainer | $100,000 | $100,000 cash retainer included in total cash |
| Committee chair retainer | Audit Chair: $25,000 | $25,000 (Audit Chair) |
| Meeting fees | None | $0 |
| Board Chair add’l retainer | $180,000 (Board Chair only) | N/A |
| Total cash fees (2024) | $125,000 |
Performance Compensation
| Award Type | Grant Date | Shares Granted | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| RSU (annual director equity) | Apr 25, 2024 | 7,153 | $150,000 | One-year cliff vest; subject to continued service |
- Directors’ equity is time-vested RSUs (no performance metrics disclosed for director grants) .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlocks/Notes |
|---|---|---|---|
| Cooper Tire & Rubber Company | Director (2017–2021) | Not disclosed | Historical board role; no current interlocks indicated |
| Compensation Committee Interlocks | — | — | Company discloses no interlocking relationships for Compensation Committee members (none) |
Expertise & Qualifications
- Audit/finance: CFO experience; audit committee financial expert designation; extensive FP&A, accounting, and controls leadership .
- M&A and integration: Led acquisition/transformations (e.g., MillerCoors sale to Molson Coors; Blue Run Spirits acquisition) .
- Global operations and transformation: Strategy execution across US/Canada/UK/Croatia; JV advancement (Yuengling) .
- Education: B.S. in commerce and accounting, University of the Witwatersrand (Johannesburg) .
Equity Ownership
| Holder | Beneficial Shares | % of Shares Outstanding | RSUs Outstanding at 12/31/24 | Notes |
|---|---|---|---|---|
| Tracey I. Joubert | 29,837 | Approximately 1% (“*” in proxy) | 7,153 | Footnote indicates inclusion of shares issuable upon RSU vest within 60 days of record date |
- Ownership policy: Directors must hold common stock or RSUs equal to 5× annual cash retainer; all non‑employee directors were in compliance or on track as of 12/31/24 .
- No hedging/pledging: Company prohibits hedging and pledging; no director/officer pledging since IPO (one grandfathered pledge by R. Wendt only; policy was tightened in 2021 to remove waiver ability) .
Governance Assessment
-
Strengths
- Independence and oversight: Independent director; Audit Chair and financial expert; independent Board Chair; executive sessions every meeting .
- Engagement: ≥75% meeting attendance; active committee cadence (Audit 8; Compensation 6) .
- Pay alignment: Director pay structure balanced between fixed cash and time‑vested equity; no meeting fees; clear stock ownership requirement met/on track .
- Conflict controls: Formal related‑party transaction review; none >$120,000 in 2024; no Compensation Committee interlocks .
- Risk oversight: Audit Committee mandate includes cybersecurity, compliance, internal controls; Compensation Committee covers human capital and succession .
-
Potential red flags to monitor
- External executive role: CFO at Molson Coors; while no related‑party transactions disclosed, investors should continue to monitor for any business overlap or indirect relationships; policy framework appears robust .
- Pledging policy exception: One director (Wendt) has a grandfathered pledge; not linked to Joubert, but relevant board‑level risk context .
-
Shareholder signals
- Strong say‑on‑pay support (96.63% in 2024), indicating investor alignment with compensation governance; although NEOs (not directors) saw zero MIP payout and 2022 PSUs did not vest, reflecting pay-for-performance rigor .