Laurent Auguste
About Laurent Auguste
Laurent Auguste, 57, joined Loop Industries’ Board in July 2024. He is CEO of GreenDot (Cologne, Germany) and previously served as Loop’s European representative (2020–2024). He holds a mechanical engineering degree from École Centrale de Lyon; he is fluent in French, English, and Japanese. His background includes senior leadership roles at Veolia (Senior Executive VP; CEO, Veolia North America; CEO, Veolia Water Americas; founder/leader of Veolia Water Japan and Korea). Attendance on Loop’s Board since appointment: 5/5 (100%).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Veolia | Senior Executive VP; CEO, Veolia North America; CEO, Veolia Water Americas | Various years (prior to 2024) | Led growth and strategic transformations in water/circular economy businesses |
| Veolia Water Japan; Veolia Water Korea | Founder/Leader | Prior to 2024 | Established and expanded regional businesses |
| Loop Industries | European representative (consulting) | 2020–2024 | Supported development in Europe |
External Roles
| Organization | Role | Notes |
|---|---|---|
| GreenDot (Germany) | Chief Executive Officer | Leads company focused on waste sorting/mechanical recycling; €400M revenue, 500 employees (since Aug 2022) |
| Circulus | Board/advisory | External industry role (plastics/circular economy) |
| Alliance to End Plastic Waste | Board/advisory | Industry initiative |
| World Economic Forum (various) | Advisory initiatives | External policy/industry forums |
| NATANE (wholly owned) | CEO and sole owner | Investment/advisory in water and circular economy sectors |
Board Governance
- Independence: The Board determined independent directors are Louise Sams, Laurence Sellyn, Jay Stubina, and Spencer Hart. Mr. Auguste is not listed as independent.
- Committee assignments (FY2025): No committee roles disclosed for Mr. Auguste. Audit Committee: Sellyn (Chair), Sams, Stubina; Compensation Committee: Stubina (Chair), Sams, Sellyn; Nominating & Corporate Governance Committee: Sams (Chair), Stubina. Expected post-2025 AGM changes add Hart to committees, but Auguste is not named.
- Attendance (FY2025): 5/5 Board meetings (100%) since joining; no committee attendance listed (no assignments).
- Board structure: Combined Chair/CEO (Daniel Solomita) with a Lead Independent Director (Sellyn). Loop qualifies as a Nasdaq “controlled company” (Solomita controls >50% voting power) but did not rely on governance exemptions in FY2025 and does not anticipate doing so in FY2026.
Fixed Compensation
| Component | Amount | Period/Notes |
|---|---|---|
| Annual cash retainer (Director) | $20,000 | FY2025 cash paid to Mr. Auguste |
| Committee chair retainers (if applicable) | $15,000 per chair role | Audit/Comp/Nominating chairs (policy); no chair roles for Auguste |
| Lead Independent Director retainer | $50,000 | Policy reference (applies to LID, not Auguste) |
Performance Compensation
| Equity Type | Grant/Value | Vesting/Terms | Notes | |---|---|---| | Annual RSU award (policy) | Target value $90,000 | 100% vests on 1-year anniversary or day prior to next AGM (earlier of the two) if service continues | Policy under Amended & Restated Outside Director Compensation Policy | | RSUs (FY2025 actual reported value) | $75,384 | Per RSU grant accounting (ASC 718) | FY2025 “Stock Awards” for Mr. Auguste | | Outstanding RSUs (as of Feb 28, 2025) | 36,069 shares | Fully vest within 60 days of May 20, 2025 record date; deferred settlement | Beneficial ownership footnote and RSU table |
Performance Metric Structure
- Director equity is time-based RSUs; no performance metrics (TSR/EBITDA/etc.) are disclosed for director equity awards.
Other Directorships & Interlocks
| Company/Organization | Public/Private | Role | Potential Interlock/Conflict Relevance |
|---|---|---|---|
| GreenDot | Private | CEO | Adjacent recycling industry; no related-party transaction disclosed with Loop |
| Circulus | Private | Board/advisory | Industry adjacency; no Loop transaction disclosed |
| Alliance to End Plastic Waste | Non-profit consortium | Advisory | Multi-stakeholder forum; no Loop transaction disclosed |
| WEF initiatives | Non-profit/policy | Advisory | Policy exposure; no Loop transaction disclosed |
Expertise & Qualifications
- Technical: Mechanical engineering; water and circular economy operator; chemical/mechanical recycling exposure.
- Leadership: Senior executive roles at Veolia; founder/expansion in Japan/Korea; current CEO of GreenDot.
- International: Fluent in French/English/Japanese; led multi-region businesses.
Equity Ownership
| Category | Shares/Units | Notes |
|---|---|---|
| Common shares (from 2020 RSU vesting) | 38,343 shares | RSUs granted Oct 6, 2020 under consulting agreement with NATANE; shares issued following vesting |
| RSUs outstanding (as of Feb 28, 2025) | 36,069 units | Fully vest within 60 days of May 20, 2025 record date; deferred settlement |
| Pledged shares | Not disclosed | No pledging disclosure specific to Auguste in proxy |
| Ownership % of outstanding | Not disclosed | Beneficial ownership table footnote provides composition but not % for Auguste |
Insider Trades and Section 16 Compliance
| Date (Filed) | Form | Transaction | Detail |
|---|---|---|---|
| July 8, 2024 | Form 4 | RSU grant reported | Filing was late; Form 4 to report RSUs granted (quantity not specified in proxy) |
Related-Party Transactions and Conflicts
- Consulting fees: $306,757 paid to Mr. Auguste (via consulting agreement among Loop, Auguste, and NATANE, wholly owned by him) for the period Mar 1, 2023–May 28, 2024. Approved under the company’s related-party transactions policy.
- Beneficial ownership composition references his 2020 consulting RSU grant and current RSUs.
- Independence impact: The Board’s independent directors list does not include Auguste, indicating he is not deemed independent—consistent with recent consulting relationship.
- Company disclosure: No other related-party transactions above $120,000 in FY2025/FY2024 beyond the NATANE arrangement; no third-party arrangements compensating directors for Loop board service (Nasdaq Rule 5250(b)(3)).
Director Compensation (FY2025)
| Component | Amount ($) | Notes |
|---|---|---|
| Fees earned or paid in cash | 20,000 | FY2025 director cash fees |
| Stock awards (RSUs), grant-date fair value | 75,384 | ASC 718 value |
| Total | 95,384 | Sum of cash and stock awards |
| Outstanding RSUs (units) | 36,069 | As of Feb 28, 2025 |
Governance Assessment
- Strengths
- Relevant industry expertise (circular economy, recycling operations) and global leadership experience enhance board oversight of Loop’s commercialization and partnerships.
- Strong meeting engagement: 100% attendance since appointment.
- Concerns/RED FLAGS
- Independence: Not classified as an independent director—recent paid consulting relationship (NATANE) totaling $306,757 within the look-back period. This can affect perceived objectivity on oversight matters, especially strategy/transactions in Europe.
- Section 16 compliance: Late Form 4 filing for RSU grant (July 8, 2024), a modest but notable control/compliance signal.
- Committee influence: No committee roles disclosed for FY2025, limiting direct influence on audit, compensation, or governance agendas.
- Contextual governance risk
- Controlled company: Founder/CEO controls >50% voting power; although Loop did not rely on governance exemptions in FY2025, concentrated control increases reliance on directors’ independence and active oversight—heightening the significance of any independence impairments.
Overall signal: Auguste brings highly relevant operating expertise and strong attendance, but his recent paid consulting ties and non-independent status reduce alignment with minority shareholder expectations for independent oversight. Continued transparency on related-party interactions and avoidance of committee roles that raise conflict concerns (e.g., Compensation, Nominating) would help mitigate governance risk.