Anne Bélec
About Anne E. Bélec
Anne E. Bélec, age 62, is an independent director of The Manitowoc Company, Inc. (MTW) since 2019 and serves on the Audit and Compensation Committees. She is co‑founder and CEO of Mosaic Group, LLC and previously held senior roles including Director, Global Marketing at Ford Motor Company; President & CEO, Volvo Cars N.A.; VP & Chief Marketing Officer at Navistar, Inc.; and SVP, Global Brand/Communications/Parts at Bombardier Recreational Products. Her board skills include finance and accounting, manufacturing, global operations, strategy, sales/marketing, and technology .
Past Roles
| Organization | Role | Notes |
|---|---|---|
| Mosaic Group, LLC | Co‑founder and Chief Executive Officer | Outsourced marketing services firm; current role |
| Ford Motor Company | Director, Global Marketing | Senior executive marketing experience |
| Volvo Cars Corporation (Volvo Cars N.A.) | President & Chief Executive Officer | Led North American operations |
| Navistar, Inc. | Vice President & Chief Marketing Officer | Senior marketing leadership |
| Bombardier Recreational Products, Inc. | Senior Vice President, Global Brand, Communications and Parts/Accessories/Clothing | Global brand and aftermarket portfolio leadership |
External Roles
| Category | Role/Entity |
|---|---|
| Other current public company directorships | None |
| Private company executive role | CEO, Mosaic Group, LLC |
| Non‑profit/academic boards | Not disclosed |
Board Governance
- Committee assignments: Audit Committee member (not Chair) ; Compensation Committee member (Chair is Anne M. Cooney) .
- Independence: Determined independent under NYSE and company criteria; 7 of 8 director nominees are independent .
- Attendance and engagement: Board met 6 times in 2024; all current directors attended at least 75% of Board and committee meetings, and all directors attended the 2024 Annual Meeting; executive sessions at each regular Board meeting .
- Committee activity levels: Audit Committee met 5 times in 2024 ; Compensation Committee met 6 times in 2024 .
- Leadership structure: Independent Non‑Executive Chair; lead independent director framework exists if Chair were not independent .
- Related‑party transactions: None in 2024; supplier relationships (Cummins, Parker) reviewed and approved by Audit Committee; not related to Ms. Bélec .
Fixed Compensation
| Component (2024) | Amount (USD) |
|---|---|
| Annual Board member cash retainer | $80,000 |
| Audit Committee member retainer | $10,000 |
| Compensation Committee member retainer | $7,500 |
| Total cash fees earned (reported) | $97,500 |
Performance Compensation
| Equity Element (2024) | Detail |
|---|---|
| Annual equity grant guideline | $135,000 (stock grant) |
| Grant date | February 27, 2024 |
| Grant date fair value (reported) | $118,516 |
| Vesting | Immediate (stock was not restricted) |
| Deferral election | Ms. Bélec deferred her 2024 stock grant under the Deferred Compensation Plan |
| Performance Metrics tied to Director pay | Status |
|---|---|
| Any performance metrics for director equity or cash retainers | Not disclosed (director equity vested immediately; program consists of cash retainers and stock grants) |
Other Directorships & Interlocks
| Item | Status |
|---|---|
| Current public company boards | None |
| Interlocks with competitors/suppliers/customers | Not disclosed; no related‑person transactions in 2024 |
Expertise & Qualifications
- Board service experience; finance/accounting literacy; manufacturing operations; global leadership; strategy/business development; sales/marketing; technology acumen .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (shares) | 48,595 |
| Ownership as % of outstanding | <1% (company notes each named director, other than CEO, is <1%) |
| Pledged shares | None (company notes no pledging by named persons) |
| Director stock ownership guideline | 5× annual cash retainer; compliance measured beginning year 6 after election |
| Compliance status | Non‑employee directors were in compliance or projected to be as of Dec 31, 2024 |
| Anti‑hedging/anti‑pledging | Prohibited by company policy |
Insider Trades
| Date (Filing) | Transaction | Quantity/Price | Holdings After | Source |
|---|---|---|---|---|
| 2025‑05‑06 (for 2025‑05‑05) | Option Award (director grant) | 18,601; price $0 (grant) | 67,196 (direct) | |
| 2023‑11‑02 | Acquisition (P) | 1,772 shares; ~$24,380 | 39,829 (reported then) |
Note: Director Form 4 filings indicate routine annual equity awards and holdings changes consistent with the company’s non‑employee director compensation program .
Governance Assessment
- Strengths: Independent director with relevant commercial and global operating experience; active on Audit and Compensation (enhances oversight of financial reporting and pay); strong board‑level governance (majority voting, independent Chair, executive sessions, annual evaluations); no related‑party transactions .
- Alignment: Director pay mix includes meaningful equity; 2024 stock grant vested immediately but Ms. Bélec deferred the grant, enhancing ownership alignment; directors subject to 5× retainer ownership guideline and anti‑hedging/anti‑pledging policy; no pledging reported .
- Watch items: Immediate vesting of director stock grants reduces explicit performance/retention features versus restricted stock; monitor ongoing equity ownership versus guidelines and any future related‑party exposures; company say‑on‑pay support was 80.4% in 2024—adequate but below best‑in‑class—suggests continued investor focus on pay alignment .