Anthony Welters
LOEWSAbout Anthony Welters
Anthony Welters (age 70) has served on Loews Corporation’s Board since 2013. He is Founder, Chairman and CEO of CINQ Care Inc.; Executive Chairman of BlackIvy Group, LLC; and Co‑Founder and Chairman of Somatus, Inc. He previously held senior executive roles at UnitedHealth Group (2002–2016) and currently serves as a director at The Carlyle Group and Gilead Sciences, Inc. . The Board determined he is independent under NYSE and company standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| UnitedHealth Group | Senior executive positions | 2002–2016 | Large-scale health insurance operations experience supports risk oversight and governance |
| Loews Corporation | Independent Director | Director since 2013 | Member, Nominating & Governance Committee |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| CINQ Care Inc. | Founder, Chairman & CEO | Not disclosed | Physician-led, community-based care delivery focused on Black and Brown communities |
| BlackIvy Group, LLC | Executive Chairman | Not disclosed | Builds and grows commercial enterprises in Sub-Saharan Africa |
| Somatus, Inc. | Co‑Founder & Chairman | Not disclosed | Value-based kidney solutions provider |
| The Carlyle Group | Director | Not disclosed | Public company directorship |
| Gilead Sciences, Inc. | Director | Not disclosed | Public company directorship |
Board Governance
- Committee assignments: Nominating & Governance Committee member; the committee held 3 meetings in 2024 and is fully independent, with responsibilities for director nominations, committee assignments, independence determinations, and governance principles .
- Independence: Board classified Welters as independent; all committees (Audit, Compensation, Nominating & Governance) are comprised entirely of independent directors .
- Attendance and engagement: In 2024, each incumbent director other than Anthony Welters attended at least 75% of Board and applicable committee meetings—indicating Welters’ attendance fell below 75%, a governance red flag .
- Executive sessions: Independent directors meet in executive session after each regular quarterly Board meeting, chaired by the lead director .
- Director ownership guidelines: Non‑management directors must hold shares valued at least 3× the annual cash retainer ($125,000 per year); all non‑employee directors were in compliance as of the proxy date .
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $125,000 | $31,250 per quarter |
| Committee membership fee (Nominating & Governance) | $10,000 | $2,500 per quarter |
| Total cash fees (2024 reported) | $135,000 | Matches retainer + committee fee |
| Annual RSU grant (grant-date fair value) | $100,000 | Granted at annual meeting under 2016 Plan |
| Director equity outstanding (12/31/2024) | 1,288 RSUs | Aggregate RSUs outstanding per non‑management director |
| Legacy SARs outstanding | 9,000 | Pre‑2016 Stock Option Plan SARs |
- Compensation mix signal: Cash $135,000 and equity $100,000 → ~57% cash / ~43% equity, aligning director incentives with shareholders via annual RSU grants .
Performance Compensation
| Metric linkage to director pay | Status | Notes |
|---|---|---|
| Performance metrics (director equity) | Not disclosed | Proxy specifies director RSU grants by fair value and outstanding counts; no performance conditions disclosed for director awards |
Other Directorships & Interlocks
| Company | Sector | Role | Potential interlock/conflict with Loews |
|---|---|---|---|
| The Carlyle Group | Asset management | Director | None disclosed with Loews/CNA/Boardwalk/Loews Hotels/Altium |
| Gilead Sciences | Biopharma | Director | None disclosed with Loews/CNA/Boardwalk/Loews Hotels/Altium |
- Related-party transactions: Audit Committee reviewed 2024 related‑party transactions; none involved Anthony Welters (transactions disclosed related to Tisch family members and executives) .
Expertise & Qualifications
- Senior leadership experience in a complex health insurer; broad governance experience across public companies and philanthropic organizations .
- Contributes healthcare and operational oversight expertise to Loews’ boardroom, supporting risk and governance discussions .
Equity Ownership
| Item | Amount/Detail |
|---|---|
| Beneficial ownership (3/18/2025) | 17,118 shares; less than 1% of class |
| Components (footnote breakdown) | 3,835 SARs exercisable; 2,150 vested RSUs deferred; 1,288 unvested RSUs vesting within 60 days of 3/18/2025 |
| Anti-hedging | Directors prohibited from hedging Loews stock |
| Anti-pledging | Pledging prohibited unless fully recourse and repayable without liquidation; no pledges disclosed for Welters |
| Compliance with ownership guidelines | All non‑employee directors were in compliance |
Governance Assessment
- Strengths: Independent status; seat on Nominating & Governance Committee; adherence to anti‑hedging/anti‑pledging policies; compliance with director ownership guidelines; straightforward, shareholder‑friendly director pay structure (modest cash retainer, annual RSU grant) .
- RED FLAG: Attendance below 75% threshold for 2024 (only incumbent director noted with sub‑75% attendance), which can undermine board effectiveness and investor confidence if persistent; warrants monitoring and engagement on attendance remediation .
- Conflicts/related‑party exposure: None disclosed for Welters; Audit Committee reviews and approves related‑party transactions; 2024 related‑party items did not involve Welters .
- Compensation governance signals: Independent Compensation Committee; use of negative discretion; clawback policy; strong say‑on‑pay support (96% approval in 2024), indicating overall investor confidence in compensation governance, although this pertains to executive pay rather than director compensation .
- Committee effectiveness: Nominating & Governance met 3 times; chaired by the lead director, with mandate over board composition and governance principles; Welters’ expertise in healthcare and broad organizational leadership complements board skill mix .