Alex Grinberg
MOVADO GROUPAbout Alex Grinberg
Alex Grinberg, 62, has served on Movado Group’s Board since 2011 and is currently Senior Vice President, Customer Experience. He joined Movado in 1994, rising through sales and brand management (including international posts) before leading customer/consumer-centric initiatives and, since 2020, the company’s customer experience strategy. He is the brother of CEO and Chair Efraim Grinberg.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Movado Group | Territory Manager, Movado brand | Dec 1994 onward | Field sales leadership foundation |
| Movado Group | VP, International Sales (Concord) | Jun 1996 | Global brand expansion responsibility |
| Movado Group | Asia assignment (Hong Kong & Japan) | Feb 1999–Oct 2001 | Built Asian presence for Movado Group brands |
| Movado Group | U.S. roles within Concord brand | Nov 2001–Nov 2010 | Increasing responsibility in brand management |
| Movado Group | SVP, Customer/Consumer Centric Initiatives | Nov 2010 | Drove customer-centric programs |
| Movado Group | SVP, Customer Experience | 2020–present | Develops and implements CX strategy and best practices |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No public company directorships disclosed |
Board Governance
- Independence and family ties: The Board determined that all directors except Alex and Efraim Grinberg are independent under NYSE rules; Alex and Efraim are brothers. This presents an inherent conflict-of-interest consideration on certain matters.
- Committee assignments: All three Board committees (Audit; Compensation & Human Capital; Nominating, Governance & Corporate Responsibility) are fully independent. Alex is not listed on any committee, appropriately limiting management influence in oversight functions.
- Attendance: The Board met 11 times in fiscal 2025; all directors attended over 75% of Board and applicable committee meetings. All directors attended the 2024 Annual Meeting.
- Executive sessions: Non-management directors hold regular quarterly executive sessions chaired by the Lead Director.
Fixed Compensation
| Component | Fiscal Year | Amount | Notes |
|---|---|---|---|
| Employee Base Salary | FY2025 | $353,077 | Senior VP Customer Experience; no bonus paid |
| Director Fees | FY2025 | $0 | Employees receive no additional Board compensation |
Performance Compensation
| Grant Type | Units/Terms | Grant Value | Vesting/Performance |
|---|---|---|---|
| RSUs (time-vesting) | 1,530 units | $42,503 | Time-vesting RSUs under the Stock Plan typically cliff-vest after three years; no performance metrics disclosed for Alex’s grant |
- Company-wide context: The Compensation Committee paid no annual cash incentives for FY2025 after revenue and adjusted operating income fell below threshold and in light of a material weakness and restatement announced in April 2025. This indicates a strict pay-for-performance stance during the period.
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Family relationships | Alex is the brother of CEO/Chair Efraim Grinberg (non-independent interlock). |
| External public boards | None disclosed for Alex. |
| Related persons in management | Efraim’s daughter, Margot Grinberg, is President Movado Brand & SVP E‑Commerce. |
Expertise & Qualifications
- Deep sales and brand management experience, including international development in Asia (Hong Kong and Japan).
- Senior leadership in customer experience strategy, aligning operating decisions with customer needs.
Equity Ownership
| Holder | Class A Shares | Common Shares | % Class A | % Common | % Total Voting Power | Notes |
|---|---|---|---|---|---|---|
| Alexander (Alex) Grinberg (beneficial) | 388,420 | 81,832 | 6.01% | <1% | 4.89% | As of Apr 25, 2025. |
| Breakdown highlights | — | — | — | — | — | Includes 75,191 Class A and 25,000 Common held by the Grinberg Family Foundation (Alex is one of three directors); includes 11,292 Class A and 6,426 Common held by a trust for Alex (Alex co‑trustee). Alex disclaims beneficial ownership except to extent of pecuniary interest. |
| Additional family entities (not counted in Alex’s total) | 3,245,021 Class A | — | — | — | — | Alex is a limited partner in GPLP and a trust is a limited partner in GPLPII; not counted because voting/dispositive power resides with the general partner (GGP). |
- Director stock ownership guidelines: Non‑employee directors are expected to hold at least $250,000 of MOV stock; as an employee‑director, Alex’s director guideline applicability is not specified.
- Hedging/pledging: Company policy prohibits short sales and trading in puts, calls and other derivatives; the proxy notes no specific hedging policy beyond these prohibitions and prohibits buying on margin in practice checklists.
Governance Assessment
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Strengths
- Independent committees with no management members; Lead Director structure; regular executive sessions bolster oversight.
- Strong director attendance; full participation at annual meeting.
- Pay-for-performance signals: zero AICP payout for FY2025 and disclosure of clawback adoption (though applied to executive officers).
-
Risks and RED FLAGS
- Not independent: Alex is an employee‑director and CEO’s brother; family control dynamics elevate potential conflicts, especially given dual‑class voting and concentrated family ownership.
- Related‑party exposure: Family members in senior roles; Alex’s employee compensation and equity awards disclosed as related‑party items.
- Financial reporting control issues: A material weakness and restatement were disclosed in April 2025, increasing oversight scrutiny needs (though committees are independent).
-
Implications for investors
- Board effectiveness rests heavily on independent directors and committee rigor given family influence; Alex’s lack of committee roles limits direct oversight conflicts but underscores the importance of robust recusal practices when family matters arise.
- Ownership alignment is significant via direct and affiliated holdings; however, control concentration can reduce minority investor influence on governance outcomes.
Additional Context on Director Compensation (for benchmarking)
- Non‑employee directors received a $90,000 cash retainer and equity valued at ~$125,000 (one‑year cliff vest), plus committee/lead director retainers; employees receive no additional Board pay.
- Say‑on‑pay results: Approximately 97% of votes represented and 99% of votes cast supported executive compensation at the 2024 meeting.