Robert Eckert
LEVI STRAUSS &About Robert Eckert
Robert A. Eckert, age 70, is the independent Chair of Levi Strauss & Co.’s Board (since 2021) and has served as a director since 2010. He is an Operating Partner at FFL Partners (since Sept 2014), Chairman Emeritus and former Chairman/CEO of Mattel, and former President/CEO of Kraft Foods. He currently chairs the Nominating, Governance & Corporate Citizenship Committee and serves on the Compensation & Human Capital Committee.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Levi Strauss & Co. | Independent Chair of the Board | Since 2021 | Leads and oversees the Board; presides over executive sessions of non-management directors |
| Mattel, Inc. | Chairman & CEO; Chairman; Chairman Emeritus | CEO/Chair 2000–2011; Chair through Dec 2012; Chairman Emeritus since Jan 2013 | Led global consumer brand; governance continuity |
| Kraft Foods, Inc. | President & CEO | Oct 1997–May 2000 | Ran large-scale CPG enterprise |
| Kraft Foods, Inc. (Oscar Mayer) | President, Oscar Mayer division | 1993–1995 | P&L leadership |
| Kraft Foods, Inc. | Group Vice President | 1995–1997 | Senior operating leadership |
| FFL Partners, LLC | Operating Partner | Since Sept 2014 | Private equity operating expertise |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Uber Technologies, Inc. | Director | Current | Public company directorship |
| Amgen, Inc. | Director | Current | Public company directorship |
| Eyemart Express Holdings, LLC | Director | Current | Private company board |
| Quinn Group Inc. | Director | Current | Private company board |
| McDonald’s Corporation | Director | Former | Prior public company directorship |
Board Governance
- Independence and leadership: The Board separates Chair/CEO roles; Eckert serves as independent Chair, leading Board oversight and executive sessions.
- Committee assignments: Chair, Nominating, Governance & Corporate Citizenship Committee (NGCCC); Member, Compensation & Human Capital Committee (CHCC).
- Attendance and engagement: Board met 6 times in FY2024; every director attended ≥75% of Board and applicable committee meetings; all then-serving directors attended the 2024 annual meeting.
- Committee meeting cadence in FY2024: Audit (6), CHCC (4), Finance (5), NGCCC (5).
- Shareholder engagement: The Board and NGCCC oversee shareholder engagement; communications channels to independent directors are established.
| Body | Role | FY2024 Meetings | Notes |
|---|---|---|---|
| Board of Directors | Independent Chair | 6 | Executive sessions each meeting, presided by Chair |
| NGCCC | Chair | 5 | Oversees governance, board composition, sustainability |
| CHCC | Member | 4 | Oversees exec comp, succession, HCM policies |
Fixed Compensation
- Structure (non-employee directors, FY2024): Annual cash retainer $100,000; additional Board Chair cash retainer $100,000; committee chair fees—Audit $25,000, CHCC $20,000, Finance $15,000, NGCCC $15,000.
- Eckert’s FY2024 Board compensation: Cash fees $215,000; stock awards $271,200; all other compensation (dividend equivalents) $16,524; total $502,724.
| Component | FY2024 Amount | Detail |
|---|---|---|
| Annual cash retainer | $100,000 | Applies to all non-employee directors |
| Board Chair cash retainer | $100,000 | 50% cash / 50% RSUs; total Board Chair retainer $200,000 (see equity) |
| NGCCC Chair fee | $15,000 | Additional for committee chair |
| Eckert – Fees earned (cash) | $215,000 | Matches $100k + $100k + $15k |
| Eckert – All other comp | $16,524 | Dividend equivalent RSUs |
Performance Compensation
- Equity structure (non-employee directors, FY2024): Annual RSU award $155,000; additional Board Chair RSU award $100,000; RSUs vest in full at the earlier of day before next annual meeting or one-year anniversary; dividend equivalents accrue and follow RSU vesting. In FY2025, annual director equity increased to $175,000.
- Eckert’s FY2024 stock awards (grant-date fair value): $271,200.
| Equity Element | FY2024 Value | Vesting / Metrics |
|---|---|---|
| Annual RSU grant (directors) | $155,000 | Time-based vesting; no performance metrics |
| Additional Board Chair RSUs | $100,000 | Time-based; part of $200k Chair retainer (50% cash/50% RSUs) |
| Eckert – Stock awards total | $271,200 | Time-based RSUs; dividend equivalents apply |
| FY2025 change (context) | $175,000 annual RSU (from $155k) | Signals higher equity retainer weight |
No performance metrics are used for director RSU grants; awards are time-vested and not contingent on financial/TSR targets.
Other Directorships & Interlocks
- Current public company boards: Uber Technologies, Inc.; Amgen, Inc.
- Private/other boards: Eyemart Express Holdings, LLC; Quinn Group Inc.
- Potential interlock to monitor: Eckert is Operating Partner at FFL Partners, while fellow Levi Strauss director Spencer Fleischer is Chairman of FFL Partners; no related-party transactions involving directors/officers were disclosed for FY2024.
| Company | Type | Role | Notes |
|---|---|---|---|
| Uber Technologies, Inc. | Public | Director | Current |
| Amgen, Inc. | Public | Director | Current |
| Eyemart Express Holdings, LLC | Private | Director | Current |
| Quinn Group Inc. | Private | Director | Current |
| McDonald’s Corporation | Public | Director | Prior |
| FFL Partners linkage (context) | PE firm | Operating Partner (Eckert) / Chairman (Fleischer) | Monitor for potential conflicts; none disclosed in related-party section |
Expertise & Qualifications
- Former CEO/Chair at Mattel and President/CEO at Kraft; deep experience building global consumer brands, with high performance expectations and decisive leadership.
- Independent Board leadership and governance oversight; chairs NGCCC; leads executive sessions and CEO performance review process participation at Board level.
- Private equity operating experience at FFL Partners, bringing investor/operator perspective to strategy and oversight.
Equity Ownership
| Item | Amount |
|---|---|
| Class A shares beneficially owned | 61,683 (<1%) |
| Class B shares beneficially owned | 174,509 (<1%) |
| Aggregate outstanding RSUs (incl. vested but deferred and unvested) | 74,230 |
| Footnote – RSUs vesting within 60 days (settlement deferred) | 17,770 shares included in footnote (A/B issuable) |
| Director stock ownership guideline | 5x annual retainer ($500,000) within 5 years; all current directors compliant as of Dec 1, 2024 |
| Hedging/pledging | Prohibited under Insider Trading Policy |
Governance Assessment
-
Strengths:
- Independent Board Chair structure with Eckert as Chair; Board explicitly favors an independent Chair.
- Active committee leadership (NGCCC Chair) and membership (CHCC), with regular executive sessions led by the Chair—supports independent oversight.
- Attendance and engagement: Board met 6 times; every director met the ≥75% attendance threshold; full attendance at the 2024 annual meeting.
- Ownership alignment: Directors subject to 5x retainer ownership guideline; all in compliance as of Dec 1, 2024; Eckert holds A/B shares and RSUs; hedging and pledging are prohibited.
- No FY2024 related-party transactions involving directors/officers (>$120k) were disclosed.
- Shareholder engagement described; channels to independent directors established.
- Say-on-pay support: >99% approval at 2024 annual meeting underscores broad investor alignment on compensation framework.
-
Watch items / potential conflicts:
- FFL Partners ties: Eckert (Operating Partner) and director Spencer Fleischer (FFL Chairman) both serve on LS&Co.’s Board; while no related-party transactions were disclosed, governance should continue to monitor for conflicts in any future LS&Co.–FFL interactions.
Director Compensation Summary (FY2024)
| Metric | Amount |
|---|---|
| Fees earned or paid in cash | $215,000 |
| Stock awards (grant-date fair value) | $271,200 |
| All other compensation (dividend equivalents) | $16,524 |
| Total | $502,724 |
Board Compensation Structure (Directors)
| Component | Amount | Vesting/Notes |
|---|---|---|
| Annual cash retainer | $100,000 | Cash |
| Board Chair additional retainer | $200,000 | 50% cash / 50% RSUs |
| Committee chair retainers | Audit $25,000; CHCC $20,000; Finance $15,000; NGCCC $15,000 | Cash |
| Annual director equity | $155,000 (FY2024), $175,000 (FY2025) | RSUs; time-based vest at next AM or 1-year anniversary; dividend equivalents |
Related-Party and Conflicts
- Policy: The NGCCC and Board review and must approve related party transactions; none (>$120k) were disclosed for FY2024 beyond registration rights applicable to certain Class B holders (relates to family directors, not Eckert).
- No hedging or pledging by directors permitted.
Say-on-Pay & Shareholder Feedback (Context)
- 2024 say-on-pay won over 99% support; Board and NGCCC oversee ongoing shareholder engagement on governance and compensation matters.
Notes on Independence and Tenure
- Board determined all directors except the CEO are independent; Eckert is independent.
- Director since 2010; currently nominated as a Class III director (term ending at the 2025 annual meeting).