Ann-Kristin Achleitner
LINDEAbout Ann-Kristin Achleitner
Ann‑Kristin Achleitner (age 59) has served on Linde plc’s Board since 2018; she is Scientific Co‑Director of the Center for Entrepreneurial and Financial Studies and formerly held the Chair for Entrepreneurial Finance at Technical University Munich (TUM) from 2001–2020 . She holds a Doctor of Business Administration and a Doctor of Law, bringing significant financial expertise and board experience to Linde .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Technical University Munich | Scientific Co‑Director, Center for Entrepreneurial & Financial Studies; Chair for Entrepreneurial Finance | Co‑Director since 2003; Chair 2001–2020 | Academic leadership in entrepreneurial finance |
| University of St. Gallen (HSG) | Lecturer, Finance & External Auditing | 1992 | Academic teaching |
| McKinsey & Company | Consultant (Frankfurt) | 1994 | Strategy consulting |
| European Business School (Schloss Reichartshausen) | Endowed Chair for Banking & Finance; Chair, Institute for Financial Management | 1995 | Finance leadership |
| Linde AG | Supervisory Board Member | 2011–2019 | Audit Committee; Nomination Committee; continuity with Linde industry |
| Deutsche Börse AG | Supervisory Board Member | until May 2019 | Board oversight (prior) |
| ENGIE SA | Board of Directors Member | until May 2019 | Energy sector governance (prior) |
| Metro AG | Supervisory Board Member | until Feb 2017 | Board oversight (prior) |
| Vontobel Holding AG / Vontobel Bank AG | Board of Directors Member | until Apr 2013 | Financial services board roles (prior) |
External Roles
| Organization | Role | Start | Committee Roles |
|---|---|---|---|
| Lazard Ltd | Board of Directors Member | — | Audit Committee; Nominating & Governance Committee |
| Deutsche Post AG (DHL) | Supervisory Board Member | 2024 | Finance & Audit Committee |
| Luxembourg Investment 261 S.à.r.L. (Techem GmbH) | Advisory Board Member | — | Chair, Nomination & Compensation; Audit Committee Member |
| planqc GmbH | Founding Investor & Vice Chairwoman | — | — |
Board Governance
- Committee assignments: Chair, Human Capital Committee; Member, Sustainability Committee .
- Independence: Board determined all directors are independent except Chairman Stephen Angel and CEO Sanjiv Lamba; Achleitner is independent .
- Attendance: In 2024, the Board held five meetings; nominees collectively attended 98% of Board and committee meetings .
- Other governance: Limits on other boards (directors ≤4), Lead Independent Director structure (Robert L. Wood), mandatory retirement age 75, majority voting with resignation policy, stock ownership guidelines, and anti‑hedging/pledging policies .
- HC Committee remit (Achleitner chairs): oversees executive compensation, sets CEO pay/goals, succession planning, compensation risk analysis; Pearl Meyer engaged as independent consultant (independence affirmed Feb 2024) .
Fixed Compensation
| Year | Component | Amount | Notes |
|---|---|---|---|
| 2024 | Cash Fees | $180,000 | Base director cash retainer $130,000 + $50,000 HC Chair retainer |
| 2024 | Equity (RSUs grant-date fair value) | $221,943 | RSUs granted Mar 7, 2024; one‑year vest; no dividends on unvested; payout in shares |
| 2025 (Program change) | Base Director Retainer | $340,000 | Increased effective Feb 1, 2025; 40% cash / 60% equity; chair fees unchanged |
- Director equity deferral: Non‑employee directors may defer cash fees into DSUs and defer RSU payouts; DSUs/RSUs accrue dividend equivalents; paid in shares .
- Meeting fees: Not disclosed; program centers on retainers and RSU grants .
- Expenses: Travel/lodging reimbursement; potential charter aircraft use; continuing education reimbursement .
Performance Compensation
Directors do not receive performance‑based incentive pay; equity is time‑based RSUs with one‑year vest (pro‑rated on early termination except removal for cause) . No stock options were granted to non‑employee directors in 2024 .
| Metric Type | Applies to Directors? | Design Details |
|---|---|---|
| Annual cash bonus | No | Not part of director program |
| PSU metrics (ROC/TSR) | No | Executive LTI only; directors receive RSUs |
| Options | No | Executive LTI only |
Other Directorships & Interlocks
| Company | Overlap/Interlock Considerations |
|---|---|
| Lazard Ltd | Financial services; no Linde‑disclosed related party transactions with Lazard |
| Deutsche Post AG (DHL) | Logistics; no Linde‑disclosed related party transactions with DHL |
- Related‑party review: Audit Committee’s conflict procedures applied; during 2024, no actual or potential conflicts identified for executive officers and directors .
- Ordinary‑course relationships: Board reviewed E.ON SE transactions due to another director’s executive role; found immaterial—illustrates independence rigor (not related to Achleitner) .
Expertise & Qualifications
- Doctor of Business Administration and Doctor of Law; extensive academic and governance background in entrepreneurial finance .
- Committee leadership experience across audit, nomination/governance, finance, compensation at major European and U.S. companies; prior Linde AG supervisory board service adds institutional and industry expertise .
Equity Ownership
| Holder | Ordinary Shares | Stock Units (DSUs/RSUs/Deferred PSUs) | Total Equity Interests | Options (exercisable within 60 days) |
|---|---|---|---|---|
| Ann‑Kristin Achleitner | 4,473 | 464 | 4,937 | — |
- Ownership guidelines: Directors must hold at least 5× annual equity retainer; all non‑management directors have met or are within 5‑year transition window .
- Hedging/pledging: Prohibited for directors and executives .
Governance Assessment
- Strengths: Independent director; chairs Human Capital Committee with well‑documented pay‑for‑performance design, independent consultant (Pearl Meyer), robust peer benchmarking, risk controls, clawbacks, and strong shareholder support for Say‑on‑Pay (92.7% approval in July 2024) . High board/committee attendance (98%) supports engagement .
- Alignment: Holds Linde shares/units; subject to stringent stock ownership and anti‑hedging/pledging policies; director equity is in RSUs (ownership‑oriented) .
- Potential conflicts: None identified for 2024; Board’s related‑party review found no conflicts; her external boards (Lazard, DHL) pose no disclosed related‑party exposure with Linde .
- RED FLAGS: None disclosed—no pledging/hedging, no related‑party transactions, no low attendance, no director‑specific pay anomalies; director compensation structure and 2025 adjustments appear within peer‑benchmarked norms .
- Signals for investors: As HC Chair, Achleitner oversees executive pay architecture with clear financial metrics (sales, net income, operating cash flow) and strategic goals (GHG reduction, safety, compliance), plus long‑term ROC and relative TSR in PSUs—supporting sustained value creation and capital discipline .