Thomas Kevin Corrick
MERCER INTERNATIONALAbout Thomas Kevin Corrick
Thomas Kevin Corrick (age 69) has been an independent director of Mercer International Inc. since May 2023. He is the former Chief Executive Officer of Boise Cascade Company (2015–2020) with a 40+ year career spanning finance, operations, M&A, and capital allocation in forest products; he holds both a bachelor’s and a master’s degree in business administration from Texas Christian University . He serves on Mercer’s Audit Committee and Environmental, Health and Safety Committee and was determined independent by the Board under NASDAQ rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Boise Cascade Company | Chief Executive Officer | 2015–2020 | Implemented owner-focused capital allocation, expanded core capacity, divested non-strategic assets, strengthened balance sheet via full debt refinancing |
| Boise Cascade (Wood Products) | VP/SVP, Engineered Wood Products | Multiple years pre-2015 | Led acquisitions to fill product/geography gaps; doubled feeder mill capacity |
| Boise Cascade (Finance) | Finance roles (audit, treasury, planning) | Began 1980 | Early-career finance foundation prior to operating leadership |
| American Wood Council | Director; Chair (prior) | Prior years (not specified) | Industry standards and advocacy leadership |
| Federal Reserve Bank of San Francisco (Salt Lake City Branch) | Director (prior) | Prior years (not specified) | Regional economic and governance oversight experience |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Treasure Valley YMCA | Board Member | Current | Non-profit governance |
| St. Luke’s Health System | Board Member | Current | Non-profit governance |
Board Governance
| Item | Details |
|---|---|
| Independence | Board determined Corrick is independent (one of nine independent nominees) |
| Committees (2024) | Audit Committee – Member; 4 meetings; average attendance 100% . Environmental, Health and Safety Committee – Member; 4 meetings; average attendance 100% . |
| Board Attendance (2024) | Each current member attended 100% of Board and committee meetings except for the exceptions noted (not Corrick); Annual meeting attendance confirmed . |
| Years of Service | Director since May 2023 . |
| Executive Sessions | Four independent director-only sessions held in 2024 . |
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $80,000 | Fees earned/paid in cash for Corrick |
| Committee chair fees | $0 | No chair role listed for Corrick |
| Meeting fees | $0 | Company does not pay meeting fees to directors |
| Total cash (2024) | $80,000 | As reported for Corrick |
Performance Compensation
| Grant Date | Instrument | Units/Value | Vesting | Settlement | Notes |
|---|---|---|---|---|---|
| June 3, 2024 | Deferred Stock Units (DSUs) | 10,527 DSUs; grant-date fair value $100,000 | Vest on date of 2025 Annual Meeting (May 30, 2025) | Shares upon ceasing to be a director (unless deferred); accrues dividend equivalents | Corrick elected 100% of 2024 equity in DSUs |
| Equity mix policy | Restricted stock/DSUs/Cash DSUs | Non-employee directors: $100,000 annual equity (Chair: $165,000) | One-year vest aligned to board term | DSUs settle in shares; Cash DSUs settle in cash | Non-employee Director Incentive Program |
No option awards or performance-conditioned director equity are disclosed; director equity grants are time-based and align director/shareholder interests via required stock ownership and settlement in shares for DSUs .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company directorships | None disclosed in the proxy for Corrick . |
| Notable prior boards | American Wood Council (chair; prior); Federal Reserve Bank of San Francisco – Salt Lake City Branch (prior) . |
| Potential interlocks/conflicts | None disclosed in the proxy; Audit Committee oversees related-party transactions per policy . |
Expertise & Qualifications
- Forest products operating leadership, supply chain expansion, and manufacturing optimization, including engineered wood products (Boise Cascade) .
- Capital allocation, M&A integration, asset portfolio optimization, and balance sheet strengthening (CEO track record) .
- Financial oversight and governance through Audit Committee service; Audit Committee determined all members financially sophisticated (chair is financial expert) .
- Education: bachelor’s and master’s in business administration (Texas Christian University) .
Equity Ownership
| Measure | Detail |
|---|---|
| Shares owned (direct/indirect) | 0 shares |
| DSUs/Cash DSUs | 22,075 DSUs (comprised entirely of unvested DSUs) |
| DSU dividend equivalents | 302 DSU dividend equivalents accrued |
| Ownership as % of outstanding | Less than 1% |
| Stock ownership guideline | Non-employee directors must reach ≥5x annual cash retainer within 5 years; all directors ≥5 years met guideline as of record date (Corrick within 5-year window) |
| Hedging/pledging | Hedging prohibited; pledging cautioned under Securities Law Compliance Policy |
Governance Assessment
- Positive signals: independent director with directly relevant sector operating experience; serves on two core oversight committees (Audit; EHS); 100% attendance across Board/committees in 2024 indicates strong engagement .
- Alignment: elected to take 100% of director equity in DSUs (settle in shares), supporting alignment with investors; subject to director ownership guidelines (≥5x cash retainer within 5 years) .
- Board quality context: Say-on-pay support of ~99.2% in 2024 and independent chair/independent committees support overall governance credibility .
- Conflicts/red flags: No related-party transactions involving Corrick are disclosed; Section 16(a) compliance reported for all insiders; anti-hedging policy in place .
- Monitoring items: Equity ownership currently via unvested DSUs; track progress toward 5x retainer ownership guideline by the five-year mark from his 2023 appointment .