Timothy Davis
Senior Vice President, Global Controller and Principal Accounting Officer at 
LEVI STRAUSS &
LEVI STRAUSS &Executive
About Timothy Davis
Timothy Joseph “Joe” Davis is Senior Vice President and Global Controller at Levi Strauss & Co., effective August 11, 2025; he serves as the company’s Principal Accounting Officer and a duly authorized officer, age 56, with a B.S. in Accounting from the University of Akron and a CPA credential . During FY24, LS&Co. delivered $6.4 billion in net revenue (+3% YoY), 60.0% gross margin, 10.2% adjusted EBIT margin, and $1.25 adjusted diluted EPS, returning $289 million to shareholders; the company’s TSR index value for 2024 was 100.01 versus 51.39 for its peer group .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Crocs, Inc. | Vice President and Chief Accounting Officer | 2019–2025 | Senior accounting leadership at a multi-brand global footwear retailer and manufacturer |
| Agero, Inc. | Vice President, Controller | 2017–2019 | Controller role at a privately held technology provider |
| Thermo Fisher Scientific Inc. | Director, Technical Accounting | Not disclosed | Technical accounting leadership at a global life sciences company |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed | — | — | No other directorships or related-party arrangements disclosed; no family relationships; no Item 404(a) transactions |
Fixed Compensation
| Component | Value | Terms |
|---|---|---|
| Base salary | $450,000 | Annual rate as SVP, Global Controller |
| Target annual bonus (AIP) | 50% of base salary | Participates in Company’s AIP |
| Sign‑on cash bonus | $185,000 | $100,000 within 30 days of start; $85,000 within 30 days of 1‑year anniversary; subject to continued employment and potential repayment in specified separations |
| Benefits/perquisites | — | Eligible for executive benefits and relocation policy |
| Employment status | — | At‑will; no related‑party arrangements |
Performance Compensation
Equity awards (2025 grants)
| Instrument | Grant value | Vesting/Performance | Notes |
|---|---|---|---|
| Annual RSUs | $250,000 | Four‑year ratable vesting | Under 2019 Equity Incentive Plan |
| Annual PRSUs | $250,000 | Three‑year overlapping Company performance goals; vests upon Board certification | Specific metrics not enumerated in appointment 8‑K |
| Sign‑on RSUs | $115,000 | 50% at 12 months; 50% at 24 months from grant | Subject to continued employment; potential return in specified separations |
Company incentive design context (FY24 AIP goal framework and result)
| Metric | Weight | FY24 target | FY24 payout (Company) |
|---|---|---|---|
| Adjusted EBIT | 50% | $640–$650 million | 124% |
| Net Revenues | 35% | $6,282–$6,374 million | 124% |
| Cash Conversion Cycle | 15% | 113 days | 124% |
Notes:
- FY24 AIP design applied company‑wide in 2024; Davis joined in August 2025. The company’s long‑term incentive program for executives is heavily performance‑based (with PRSUs tied to three‑year outcomes); in 2024, PRSUs were 85% relative TSR vs. an expanded retail/apparel peer set and 15% average ROIC, reflecting pay‑for‑performance architecture .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership at appointment | Form 3 reported no securities beneficially owned as of the 8/11/2025 event date |
| Ownership as % of outstanding | 0% (0 shares vs. 103,091,513 Class A and 287,738,043 Class B outstanding as of Oct 2, 2025) |
| Hedging/Pledging | Prohibited by Company policy; no hedging, no pledging, and no margin accounts |
| Executive stock ownership guidelines | Executives expected to attain ownership levels within 5 years of hire/promotion; sales restricted if not in compliance by that time |
| Clawback | NYSE‑compliant policy mandates recovery of erroneously awarded incentive compensation for restatements (3‑year look‑back), regardless of misconduct |
Employment Terms
| Term | Summary |
|---|---|
| Start date and role | Appointed SVP, Global Controller (Principal Accounting Officer) effective August 11, 2025 |
| At‑will | Employment may be terminated by either party at any time, with or without notice |
| Severance eligibility | Generally entitled to benefits under the Company’s severance plan available to similarly situated employees (no specific multiples disclosed in the appointment filing) |
| Equity plan | All equity granted under the 2019 Equity Incentive Plan |
| Related‑party/other | No family relationships; no Item 404(a) related‑party transactions; no appointment arrangements with other persons |
Investment Implications
- Alignment and retention: 2025 equity consists of four‑year RSUs and three‑year performance‑based RSUs; the sign‑on RSU cliff vests at 12 and 24 months, creating clear retention hooks and a multi‑year alignment to Company performance outcomes .
- Limited near‑term selling pressure: Form 3 shows zero initial ownership, so no legacy share overhang; initial potential supply events align with the 12‑ and 24‑month sign‑on RSU vesting and the annual RSU schedule thereafter .
- Pay‑for‑performance architecture: Company‑wide, incentives emphasize Adjusted EBIT, revenue growth, cash efficiency (CCC), and multi‑year TSR/ROIC for PRSUs, consistent with investor‑preferred design and strong 2024 AIP payout (124%) amid improved profitability metrics .
- Governance risk mitigants: Robust clawback, hedging/pledging prohibitions, and stock ownership guidelines reduce misalignment, while no related‑party ties were disclosed for Davis .
Key 2024 Company performance markers for context: $6.4B net revenue (+3%), 60.0% gross margin, 10.2% adjusted EBIT margin, $1.25 adjusted diluted EPS, $289M returned; TSR index value 100.01 vs. peer 51.39 in 2024 .