Daniel Raskas
Envista HoldingsAbout Daniel A. Raskas
Daniel A. Raskas (age 58) has served as an independent director of Envista since 2019 and sits on the Compensation and Finance Committees . He spent more than two decades in corporate development at Danaher (Vice President, Corporate Development from 2004–2010; Senior Vice President, Corporate Development from 2010–April 2025) and earlier was a Managing Director at Thayer Capital Partners, giving him deep M&A and private equity expertise relevant to Envista’s capital allocation and acquisition strategy . The Board determined him to be independent after the three-year post-divestiture lookback and appointed him to the Compensation Committee in January 2023, reaffirming this assessment in 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Danaher Corporation | SVP – Corporate Development | 2010–Apr 2025 | Led M&A strategy and execution |
| Danaher Corporation | VP – Corporate Development | 2004–2010 | Corporate development leadership |
| Thayer Capital Partners | Managing Director | Pre-2004 | Private equity investing experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Other current public company boards | None | — | — |
Board Governance
- Committee assignments (as of Apr 14, 2025): Compensation Committee (Member) and Finance Committee (Member) .
- Independence and history: Identified as “Independent” in the director biography; independence formally affirmed in Jan 2023 after Danaher divestiture lookback, with appointment to the Compensation Committee and reaffirmation in Feb 2024 .
- Attendance and engagement: Board met 9x in 2024; all directors attended at least 75% of Board and committee meetings; all attended the 2024 Annual Meeting .
- Board leadership and process: Independent Chair (Scott Huennekens); independent directors meet regularly without management; strong governance framework and limits of max four other public company boards per director .
- Compensation Committee participation: Raskas is a signatory to the Compensation Committee Report, evidencing active engagement .
- Committee meeting cadence (2024): Audit 8x; Compensation 5x; Nominating & Governance 4x .
- Related-party oversight: Policy requires pre-approval of related person transactions; none reportable for 2024 .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Notes |
|---|---|---|
| 2024 | 100,000 | Director cash fees for 2024 |
Director program structure (for context):
- Standard annual cash retainer: $100,000 (Board Chair +$75,000 cash) .
- Committee Chair retainers: Audit $25,000; Compensation $20,000; Nominating & Governance $15,000 .
- Meeting fees: $2,000 per meeting only after aggregate 20 Board/committee meetings (including Finance) per calendar year .
Performance Compensation
| Grant Date | Award Type | Shares Granted | Grant-Date Fair Value ($) | Vesting | Notes |
|---|---|---|---|---|---|
| May 21, 2024 | RSUs | 10,085 | 185,060 | Vest on May 21, 2025 (one-year) | Priced at $18.35; settlement on vest or per valid deferral election |
Additional context:
- 2025 change: Annual equity retainer for non-employee directors increased to $200,000 (from $185,000) effective with 2025 grants, following FW Cook review that found per-director total comp below peer median .
- Director equity is time-based (one-year vesting); no director performance metrics apply to RSUs .
- Program features: Compensation paid only in cash and equity, with equity at least 50% of total value; no retirement/benefit programs for directors .
Other Directorships & Interlocks
| Item | Detail |
|---|---|
| Other current public company directorships | None |
| Compensation Committee interlocks (2024) | None; no cross-board/officer interlocks disclosed |
| Independent compensation consultant | FW Cook engaged by Compensation Committee; reports solely to Committee; no conflicts of interest |
Expertise & Qualifications
- Corporate development and private equity expertise; particular insight into acquisition strategy, a key strategic opportunity area for Envista .
- Familiarity with the Danaher Business System and its successor, the Envista Business System (EBS), viewed by the Board as a unique functional and governance benefit .
Equity Ownership
| Item | Amount | Date/Detail |
|---|---|---|
| Beneficial ownership (shares) | 34,230 | As of April 14, 2025; less than 1% of outstanding shares |
| Unvested RSUs | 10,085 | Outstanding as of Dec 31, 2024; vest May 21, 2025 |
| Director stock ownership guideline | ≥5x annual cash retainer within 5 years of Board service start | RSUs count toward guideline |
| Hedging/Pledging | Prohibited for directors | Hedging and pledging of Company stock not permitted |
Governance Assessment
- Independence and conflicts: Board affirmed Raskas’ independence in Jan 2023 after the Danaher lookback period and confirmed he met additional NYSE independence requirements for Compensation Committee service; no related person transactions with him in 2024, mitigating conflict risk despite his Danaher tenure through April 2025 .
- Committee effectiveness: Active Compensation Committee member and report signatory; committee uses an independent consultant (FW Cook) with no conflicts, supporting robust pay governance .
- Attendance and engagement: Met the Board’s 75% attendance threshold in 2024; Board held 9 meetings and all directors attended the Annual Meeting, indicating engagement .
- Pay mix and alignment: 2024 director pay comprised $100,000 cash and $185,060 in time-based RSUs for Raskas, with equity forming the majority of value consistent with program philosophy; 2025 equity retainer increased to $200,000 to move closer to peer median .
- Ownership alignment and risk controls: Meaningful stock ownership requirement (5x cash retainer), prohibition on hedging/pledging, and RSU-based equity support alignment with long-term investors .
- Shareholder signals: Say-on-pay support was 93.9% in 2024, suggesting broad investor confidence in compensation governance .
RED FLAG watch item: Perception risk from his long Danaher service is mitigated by the post-divestiture independence determination, Compensation Committee eligibility under NYSE rules, and absence of related-party transactions in 2024 .