Scott Mitchell
About Scott C. Mitchell
Scott C. Mitchell, age 62, has served as an independent director of First Western Financial, Inc. (MYFW) since 2021. He is CEO of Lane Capital Partners and previously held senior roles at U.S. Engineering, a Monroe Group family office manufacturing enterprise, Sylarus Technology (solar), Accenture (Partner), First Data (SVP), and Western Union. He holds a B.S. in Industrial Engineering from Southern Illinois University and an MBA from the University of Denver. The Board affirms his independence under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lane Capital Partners | Chief Executive Officer | Not disclosed | Leads a full-service portfolio company innovating in cut-and-sew for furniture and private-label boots (Target, Overstock, Wayfair customers). |
| U.S. Engineering; Metalworks; Monroe Group family office manufacturing enterprise | President / Executive roles | Not disclosed | Led manufacturing operations in automotive and industrial sectors. |
| Sylarus Technology | Executive (pioneering solar firm) | Not disclosed | Early-stage/clean-tech operating experience. |
| Accenture | Partner | Not disclosed | Strategy/operations advisory experience. |
| First Data | Senior Vice President | Not disclosed | Payments/fintech operating experience. |
| Western Union | Senior role (not specified) | Not disclosed | Global payments experience. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| National Jewish Hospital | Director | Not disclosed | Non-profit healthcare governance. |
| Denver Convention Center Hotel Authority | Board member | Not disclosed | Public authority oversight. |
| Governor of Colorado’s Leaders Initiative | Board member | Not disclosed | State-level leadership initiative. |
| Young Presidents’ Organization (Gold), Rocky Mountain | Member | Not disclosed | CEO network affiliation. |
Board Governance
- Board tenure and role: Director since 2021; current Board size 11. Independent under Nasdaq rules; only the CEO and COO are non-independent.
- Committee assignments (2024–2025): Member, Corporate Governance & Nominating Committee; Chair is Joseph C. Zimlich. The committee met 2 times in 2024 (same frequency in 2023).
- Attendance: In 2024 the Board met 5 times; in 2023 it met 6 times. Each director participated in at least 75% of aggregate Board and committee meetings in their service periods.
- Board leadership: Combined Chair/CEO (Wylie) with a Lead Independent Director (Zimlich) who presides over executive sessions and shareholder engagement.
- Say-on-Pay context: 2024 Say-on-Pay support was ~67%; the Compensation Committee increased disclosure and refined incentives for 2025 following investor outreach.
Committee assignments snapshot
| Committee | Role | 2024 Meetings |
|---|---|---|
| Corporate Governance & Nominating | Member (Chair: Zimlich) | 2 |
Fixed Compensation (Director)
| Year | Fees Earned or Paid in Cash | Stock Awards (Grant-date fair value) | Total |
|---|---|---|---|
| 2023 | $41,100 | $25,000 | $66,100 |
| Source: MYFW non-employee director compensation table (covers Company and Bank boards). Stock awards are RSUs vesting 20% annually over 5 years. Directors also receive per-meeting fees and annual retainers. |
Director fee structure (2023):
- Annual Board retainer: $45,000 ($25,000 in RSUs, $20,000 in cash); per Board meeting: $800.
- Committee member retainers: Audit/Trust $5,000; Comp/Gov $4,000; committee meeting fees $500 (members), $700–$800 (chairs).
- Expense reimbursement for Board/committee service.
Performance Compensation (Director)
| Component | Terms | Performance Metrics |
|---|---|---|
| Annual RSU retainer | $25,000 grant; vests 20% annually over 5 years (time-based) | None (time-based only) |
- No director stock options were indicated for Mr. Mitchell.
- Director equity is not performance-conditioned; it is structured to align interests via sustained ownership and vesting.
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for Mr. Mitchell in MYFW’s proxies. |
| Notable interlocks | Other MYFW directors (Caponi, Latimer) serve on First Commonwealth Financial Corporation’s board; no public-company interlock disclosed for Mr. Mitchell. |
Expertise & Qualifications
- Executive leadership across corporate and entrepreneurial ventures (manufacturing, payments/fintech, consulting, clean-tech), with current CEO role at Lane Capital Partners.
- Governance exposure through non-profit and public authority boards; YPO leadership network.
- Education: B.S. Industrial Engineering (Southern Illinois University); MBA (University of Denver).
Equity Ownership
| Measure (as of Apr 12, 2024) | Amount | Notes |
|---|---|---|
| Beneficial ownership (shares) | 3,884 | 3,539 shares held directly; 345 RSUs scheduled to settle within 60 days. <1% of outstanding. |
| Stock awards outstanding (vested + unvested) | 5,935 | As of 12/31/2023; no option awards. |
| Pledged or hedged shares | None disclosed for Mr. Mitchell; company policy prohibits pledging/hedging without limited pre-approval. | |
| Director ownership guideline | Non-employee directors must own $250,000 of MYFW stock within 5 years of joining the Board; compliance status not disclosed. |
Section 16(a) compliance: The only delinquent filing noted for 2023 was for a different director (Mr. Duncan); no delinquency was identified for Mr. Mitchell.
Governance Assessment
-
Strengths
- Independent director with multi-industry operating and strategy background; member of the Corporate Governance & Nominating Committee.
- No related-party transactions disclosed involving Mr. Mitchell; Board-level related-party oversight resides with the Audit Committee.
- Director equity grants and stock ownership policy promote alignment; company prohibits hedging/pledging (with limited exceptions).
-
Watch items
- Ownership alignment: beneficial ownership was 3,884 shares as of April 12, 2024; directors must meet a $250,000 guideline within 5 years—compliance status for Mr. Mitchell not disclosed (monitor progress given 2021 start).
- Say-on-Pay support at 67% in 2024 indicates some shareholder concern about executive pay design; while not director pay, it is a governance climate signal to the Board.
-
Red flags (none specifically identified for Mr. Mitchell)
- No pledging disclosed; no related-party transactions; attendance at least within Board’s 75%+ aggregate standard.
Overall, Mr. Mitchell appears to be an independent, governance-engaged director with relevant operating expertise and no evident conflicts. Key investor-alignment item to monitor is progress toward the director stock ownership guideline within the five-year window.