Julie Beck
MSA SafetyAbout Julie Beck
Julie A. Beck is Senior Vice President, Chief Financial Officer and Treasurer (principal financial officer) of MSA Safety, effective August 18, 2025; she is 63 years old . She is a registered CPA with a bachelor’s degree in accounting from the University of Wisconsin–Madison (graduated with distinction) and presently serves on the Executive Advisory Board of the University of Wisconsin School of Business . Prior to MSA, she was CFO of Terex Corporation (Nov 2021–Feb 2025) and Nova Chemicals, Inc. (Feb 2016–Sep 2021), and previously held senior operating roles at Joy Global, including Global VP of Supply Chain, Operational Excellence & Quality and subsidiary CFO; she has substantial public company board and audit committee experience . Under her tenure, MSA reported Q3 2025 net sales of $468 million (+8% GAAP, +3% organic), GAAP operating income $94 million (20.1% margin), adjusted operating income $104 million (22.1% margin), GAAP net income $70 million ($1.77 diluted EPS), adjusted earnings $76 million ($1.94), free cash flow $100 million, net leverage 1.0x, and liquidity of $1.1 billion; she emphasized disciplined capital allocation and expected Q4 share repurchases while reaffirming low-single-digit organic sales growth for 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Terex Corporation | SVP & CFO | Nov 2021–Feb 2025 | Directed financial strategies and business transformation that minimized inflation/supply chain impacts, contributing to sales growth and significant EPS and cash flow improvement . |
| Nova Chemicals, Inc. | SVP & CFO | Feb 2016–Sep 2021 | CFO leadership at ~$4B revenue petrochemicals producer; oversaw finance and transformation initiatives . |
| Joy Global, Inc. | Global VP Supply Chain, Operational Excellence & Quality; subsidiary CFO | Pre-2016 | Led operational excellence and quality; held subsidiary CFO role, adding operating rigor to finance . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| University of Wisconsin School of Business | Executive Advisory Board | Present | Serves on the Executive Advisory Board . |
| Public company boards | Director/Audit Committee experience | Not disclosed | Holds substantial public company board and audit committee experience (companies not specified) . |
Fixed Compensation
- Program participation: Beck will participate in the Executive Incentive Plan (EIP), the Management Equity Incentive Plan (MEIP), and the Supplemental Savings Plan, per MSA’s executive compensation framework .
- Retirement & benefits program context (company-wide): U.S.-based executives receive pension, 401(k) with 100% match on first 5% of contributions, and nonqualified plans (Supplemental Retirement Savings Plan and Supplemental Pension Plan, with new benefits under the Supplemental Pension Plan ceased for employees entering eligible class after Dec 31, 2012); limited perquisites include vehicle/allowance, financial counseling, executive physicals, and limited club memberships for business use .
Performance Compensation
Annual Cash Incentive (EIP) Design
| Element | Design | Notes |
|---|---|---|
| Core metrics | Tied to annual business objectives, correlating to working capital, operating profits, revenue targets, and ESG performance . | Aligns short-term incentives with operational and financial execution . |
| Target level | Program strives to align target compensation at middle (50th percentile) of market; above-market opportunity for performance exceeding targets and peer norms . | Market median anchoring with performance leverage . |
| Enhanced Bonus feature | If consolidated net income exceeds target, EIP awards (capped at 150% of target) may be increased by 0–50%; interpolation between target and 125% of target—each 1% above net income target increases the award by 2%; total capped at 200% of target . | Heightens pay-for-profitability leverage; no change to base EIP metrics . |
Long-Term Incentives (PSUs)
| Element | Metric/Modifier | Measurement | Vesting |
|---|---|---|---|
| Performance Stock Units (PSUs) | Adjusted EBITDA margin percentage and revenue growth; modified by TSR versus S&P Midcap 400 Industrials Index . | Multi-year performance cycles; program aligns with long-term value creation . | Early vesting upon change in control and separation, or termination due to death, disability or retirement under Company plan terms . |
Time-Vesting RSUs
| Grant | Grant Date Value | Vesting Schedule | Notes |
|---|---|---|---|
| Initial RSU award (Beck) | $250,000 | One-third vests on each anniversary for the three-year period following grant date, subject to continued employment . | Participates under MEIP; RSUs also vest earlier upon change in control and separation or upon death/disability/retirement under plan terms . |
Equity Ownership & Alignment
| Policy/Item | Detail | Implications |
|---|---|---|
| Stock ownership guidelines (CFO multiplier) | CFO guideline set at 3.5× actual salary (as illustrated for the CFO role in the 2024 table) . | Requires substantial “skin in the game” at role-appropriate level . |
| Forms of ownership counted | Includes shares purchased; vested and unvested RSUs; shares retained following option exercises; spouse’s shares in same household; excludes performance-based stock/units not yet meeting performance tests . | Broad counting approach; conservative treatment of unearned performance awards . |
| Pre-compliance retention | Executives must retain 100% of net shares from equity awards until meeting ownership guideline; guideline must be maintained while employed . | Limits discretionary selling until guideline met, supporting alignment . |
| Hedging & pledging | Strictly prohibited for directors, officers and employees who receive equity awards; short sales, derivatives, and pledging are banned . | Reduces misalignment/financing risk; mitigates red-flag behaviors . |
| Beneficial ownership (Beck) | Not disclosed in 2025 proxy (Beck joined in Aug 2025; 2024 year-end tables cover prior NEOs) . | Monitor Form 4 filings for updated holdings post-appointment . |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Appointment date & role | Effective Aug 18, 2025; SVP, CFO & Treasurer (principal financial officer) . | |
| Age | 63 . | |
| Program participation | EIP, MEIP, and Supplemental Savings Plan . | |
| Initial equity | RSUs with grant date value $250,000; vests one-third on each anniversary for three years, subject to continued employment . | |
| RSU acceleration | Under MEIP, RSUs/time-based awards vest early upon change in control and separation, or upon death/disability/retirement . | |
| Salaried severance plan | For involuntary termination without cause: lump sum separation ranging from 4 weeks’ base salary to 52 weeks’ base salary based on continuous service . | |
| Change-in-control severance | Double-trigger; within 2 years post-CoC, up to 2× (annual salary + average annual bonus from preceding two years) in lump sum, plus up to 24 months of medical, dental, accident and life insurance benefits; no excise tax gross-ups; benefits limited to avoid excise taxes/non-deductibility . |
Investment Implications
- Three-year RSU vesting (one-third annually) creates predictable unlocking events; monitor Form 4 filings and potential selling windows around each anniversary; hedging/pledging prohibitions and 100% net-share retention until guideline compliance reduce near-term selling pressure .
- Incentive alignment skews toward profitability and growth: annual EIP tied to working capital/operating profit/revenue/ESG with “Enhanced Bonus” leverage on net income, while PSUs hinge on adjusted EBITDA margin and revenue growth, modified by TSR versus the S&P Midcap 400 Industrials Index—supporting long-term value orientation and peer-relative performance .
- Change-in-control economics are shareholder-friendly (double-trigger, no tax gross-ups) yet provide competitive retention (up to 2× salary+bonus and 24 months benefits), limiting agency risk while ensuring continuity in strategic scenarios .
- Near-term signal: management commentary and Q3 2025 results indicate strong free cash flow and expected Q4 buybacks, with reaffirmed low-single-digit organic sales growth—supportive for capital return pacing and positioning into year-end .
Additional governance context: MSA targets the middle (50th percentile) of market for total target direct compensation, uses independent consultants and a defined peer group (20 industrials) for benchmarking, and received 97.2% “Say on Pay” support in 2024—indicating shareholder endorsement of pay practices and alignment .