Patrick Mullen
About Patrick Mullen
Independent Board Chair of Luxfer Holdings PLC (LXFR); appointed Non‑Executive Director in September 2021 and Board Chair in March 2022. Age 60, with a B.S. in Chemical Engineering (Notre Dame) and an MBA (Kellogg, Northwestern). Career credentials include CEO of CB&I (EPC), 12 years at Honeywell UOP, and public company board experience; currently serves on LXFR’s Nominating & Governance and Remuneration Committees and is independent under NYSE/SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Chicago Bridge & Iron (CB&I) | President & CEO | Through 2018 | Led global EPC operations |
| CB&I | Director | 2017–2018 | Board oversight during strategic period |
| Honeywell UOP | Leadership roles | 12 years (prior to CB&I) | Technology/supply chain/gas processing exposure |
| Vectren Corporation | Director | 2014–2019 | Energy utility governance |
| National Safety Council | Board | Not specified | Safety governance (non‑profit) |
| Chevron Lummus Global | Board | Not specified | Refining technology governance |
| NACD | Board Leadership Fellow | 2019 | Governance credential |
External Roles
| Organization | Role | Current/Recent | Notes |
|---|---|---|---|
| Public company boards | None | Current | No other public boards listed |
| National Safety Council | Director | Prior | Non‑profit board service |
| Chevron Lummus Global | Director | Prior | Industry JV governance |
| NACD | Member/Fellow | 2014–2020; Fellow 2019 | Governance education |
Board Governance
- Independent Board Chair; Board maintains separate Chair/CEO roles and annual majority voting for directors .
- Committee memberships: Nominating & Governance; Remuneration; both committees fully independent .
- Attendance and engagement: Board held 7 meetings in 2024; all directors attended at least 93.8% of Board/committee meetings; AGM attendance by all then‑serving directors .
- Committee meeting cadence (2024): Audit 6; Remuneration 4; Nominating & Governance 3 .
- Independence affirmed; no disclosable related party transactions/conflicts; policies prohibit hedging/pledging/short sales/margin accounts .
Fixed Compensation
| Component (2024) | Amount/Policy | Notes |
|---|---|---|
| Annual cash retainer – Board Chair | $115,000 | Applies to Chair; non‑Chair NED retainer $82,000 |
| Committee membership fees | None | No additional fees for committee service |
| Meeting fees | None | No per‑meeting fees |
Performance Compensation
| Element | Design | 2024 Data for Patrick Mullen | Vesting/Terms |
|---|---|---|---|
| Non‑Executive Director EIP RSUs | Time‑based RSUs (annual grant at/after AGM); EIP cap ≤150% of retainer; dividend equivalents accrue | Equity awards fair value $60,770 (excludes dividend equivalents) | Typically vest on/just before next year’s AGM; settled on vest with dividend equivalents |
| Dividend equivalents (2024 vestings) | Shares credited on vest | 359 shares; $3,134 value (not included in table total) | Credited at vest; subject to $1.00 per‑share issue cost |
| Unvested RSUs (as of 12/31/2024) | Outstanding alignment | 11,934 RSUs (incl. 246 dividend equivalents) | Subject to annual vest timing per EIP |
Directors’ annual equity awards are not tied to operating performance metrics; they are time‑based equity intended to align with shareholder value and retention, with an EIP cap relative to retainer .
Other Directorships & Interlocks
| Topic | Status |
|---|---|
| Current public company directorships | None |
| Prior public company boards | Vectren (2014–2019); CB&I (2017–2018) |
| Remuneration Committee interlocks/insider participation | None requiring disclosure |
| Related party transactions | None reported in 2024; board states no director nominee conflicts |
Expertise & Qualifications
- Global industrial/engineering leadership; strategic planning and M&A execution .
- Chemical engineering and MBA training; experience across EPC, refining technology, and advanced materials supply chains .
- Governance credentials via NACD Board Leadership Fellow .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (as of 4/1/2025) | 28,894 shares; <1% of outstanding (denoted “*”) |
| Unvested RSUs (12/31/2024) | 11,934 RSUs (incl. 246 dividend equivalents) |
| Hedging/pledging | Prohibited by policy |
| Ownership guidelines | Directors subject to stock ownership guidelines; expected to reach minimums within five years |
Insider Trades & Filings
| Item | Disclosure |
|---|---|
| Section 16(a) compliance | Company believes all directors/officers/10% holders timely complied with Forms 3/4/5 for FY2024 |
Governance Assessment
- Positive signals: Independent Board Chair with relevant industrial/M&A background; strong board independence; high director attendance; NED equity alignment via EIP RSUs; prohibitions on hedging/pledging; robust stock ownership guidelines; no related‑party transactions/conflicts disclosed .
- Shareholder feedback: Say‑on‑Pay received 99.2% support in 2024; frequency vote affirmed annual SOP; Director Remuneration Policy approved with 99.38% support at 2024 AGM—supportive of compensation governance .
- Committee engagement: Active roles on Nominating & Governance and Remuneration; Meridian engaged as independent consultant; no compensation committee interlocks disclosed .
- Watch items: None disclosed for conflicts/related‑party exposure; continued monitoring of equity ownership guideline compliance timelines and any future committee changes recommended .