Artemis Patrick
LEVI STRAUSS &About Artemis Patrick
Artemis Patrick is 53 and serves as President and CEO of Sephora North America, with 19 years at Sephora spanning merchandising, brand building, partnerships, and e-commerce. She joined the Levi Strauss & Co. board effective February 1, 2025 and is an independent director; she was appointed to the Audit Committee and the Nominating, Governance & Corporate Citizenship Committee effective March 1, 2025. She holds a BA in Economics from UC Santa Cruz and an MBA from San Francisco State University. Class I director; current term ends at the 2026 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Sephora North America | President & CEO | 2023–present | Leads strategy, vision and financial performance; member of Sephora Global Leadership Team and leads NA Operating Committee |
| Sephora (Global) | EVP & Global Chief Merchandising Officer | 2020–2023 | Merchandising leadership across global portfolio |
| Sephora Americas | Chief Merchandising Officer | Prior to CEO appointment (most recent) | Merchandising strategy and brand partnerships |
| Sephora | E-commerce, retail, merchandising roles (various) | 19-year tenure | Built roots in merchandising, brand building, partnerships, e-commerce |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cosmetic Executive Women | Board member | Not disclosed | Supports and promotes women in the beauty industry |
Board Governance
- Committee assignments: Audit Committee (member) and Nominating, Governance & Corporate Citizenship Committee (member), effective March 1, 2025; Audit met 6 times in FY2024; NGCCC met 5 times in 2024. She is not a committee chair.
- Independence: The board determined all directors are independent except the CEO; Artemis is independent. Executive sessions of non‑management directors occur at every board meeting. Mandatory retirement age is 72.
- Tenure and class: Class I director; term runs to the 2026 annual meeting.
- Attendance: The board met six times in FY2024 and all directors met at least 75% attendance; all then‑serving directors attended the 2024 annual meeting. Artemis joined in 2025 (no 2024 attendance applicable).
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $100,000 | All non‑employee directors |
| Annual equity award (RSUs) | $175,000 (2025 program) | $155,000 in 2024; number of RSUs based on 20‑day avg price pre‑grant |
| Board Chair additional cash | $100,000 | Applies to the independent Chair |
| Board Chair additional equity | $100,000 (RSUs) | 50/50 cash/equity split for Chair |
| Committee chair fee – Audit | $25,000 | Chair only |
| Committee chair fee – Compensation & Human Capital | $20,000 | Chair only |
| Committee chair fee – Finance | $15,000 | Chair only |
| Committee chair fee – NGCCC | $15,000 | Chair only |
| RSU vesting & deferral | Vests in full by ~1 year; delivery deferred until 6 months post‑board service | Dividend equivalents accrue and vest with RSUs |
| Deferred comp eligibility | Eligible to defer cash retainer; some directors participate | Program available to directors |
Performance Compensation
| Item | Detail |
|---|---|
| Performance metrics tied to director pay | None; non‑employee director equity is time‑based RSUs, not performance‑based |
| Equity instruments | RSUs with annual grant value; dividend equivalents accrue; no options for directors disclosed |
| Clawback | Company clawback policy applies to covered executives; director equity policy not specified beyond general practices (no hedging/pledging) |
Other Directorships & Interlocks
- Current public company boards: None disclosed beyond LEVI.
- Notable interlock context: LS&Co.’s CEO Michelle Gass previously led Kohl’s and established the long‑term Sephora partnership; Artemis is CEO of Sephora North America, strengthening retail partnership insight but without disclosed related‑party transactions at LS&Co.
- Non‑profit/industry boards: Cosmetic Executive Women (board member).
Expertise & Qualifications
- Deep industry knowledge from merchandising, brand building, partnerships, and e‑commerce; selected for board for these capabilities.
- Education: BA Economics (UC Santa Cruz) and MBA (San Francisco State University).
- Independence and governance alignment; committee membership limited to independent directors.
Equity Ownership
| Guideline | Requirement | Status |
|---|---|---|
| Director stock ownership guideline | 5× annual retainer ($500,000) within 5 years of joining board | As of Dec 1, 2024, all current directors were in compliance; Artemis joined in 2025 (compliance timing window applies). |
| Hedging/pledging of company stock | Prohibited under insider trading policy and compensation practices | |
| RSU deferral | Delivery deferred until 6 months after board service ends | Aligns director incentives with long‑term stewardship |
Governance Assessment
- Board effectiveness: Artemis brings omnichannel retail and merchandising expertise to Audit and NGCCC, reinforcing oversight of strategy, governance, and financial reporting; independence status supports committee integrity.
- Alignment and incentives: Director pay structure balances cash and equity (time‑based RSUs), ownership guideline of $500k within five years, and deferral feature enhances long‑term alignment; no hedging/pledging permitted.
- Conflicts and related parties: LS&Co. reported no related‑party transactions >$120,000 in FY2024; NGCCC reviews/approves any related party transactions under formal policy. Sephora (beauty retail) has limited operational overlap with LS&Co. (apparel), reducing conflict risk.
- Shareholder signals: 2024 say‑on‑pay support >99% indicates strong shareholder alignment with compensation governance.
RED FLAGS
- No disclosed related‑party transactions or pledging of stock; no director attendance issues reported; compensation consultant (Semler Brossy) disclosed as independent with no conflicts.