Quincy Allen
ODPAbout Quincy L. Allen
Quincy L. Allen (age 64) is an independent director of The ODP Corporation, serving since 2020 and currently sitting on the Audit and Corporate Governance & Nominating Committees . He brings 35+ years in technology services, including IBM’s Go-To-Market Leader for Cognitive Process Services and CMO for IBM Cloud (2015–2018), prior roles at Unisys (Chief Marketing & Strategy Officer), Vertis (CEO), and multiple senior leadership positions at Xerox . The Board affirmatively determined Mr. Allen is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| IBM Corporation | Go-To-Market Leader, Cognitive Process Services; Chief Marketing Officer, IBM Cloud | 2015–2018 | Led enterprise go-to-market; cloud marketing leadership |
| Unisys Corporation | Chief Marketing & Strategy Officer | 2012–2015 | Enterprise technology strategy and marketing |
| Vertis Communications | Chief Executive Officer | 2009–2010 | Led direct marketing and advertising company |
| Xerox Corporation | President, Global Services & Strategic Marketing; President, Production Systems Group; SVP North American Services & Solutions; VP Worldwide Customer Services Strategy | Various years (prior to 2009) | Senior operations, product, and services leadership |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Lumen Technologies, Inc. | Director | Since 2021 | Nominating & Corporate Governance; Human Resources & Compensation |
| ABM Industries Incorporated | Director | Since 2021 | Audit; Stakeholder & Enterprise Risk |
| Prior Boards | Director (NCR Corporation; Gateway, Inc.) | Prior years | Board service experience |
Board Governance
- Committee assignments: Audit Committee member; Corporate Governance & Nominating Committee member; not a committee chair .
- Independence: Board annually confirms independence; Allen affirmed independent in 2024 review .
- Attendance: Board held 14 meetings in 2024; each director attended ≥75% of applicable Board and committee meetings; non-management directors held 11 executive sessions .
- Committee activity: Audit Committee met 8 times (4 executive sessions); Corporate Governance & Nominating met 5 times (1 executive session) .
- Governance practices: Majority independent board, separate independent Chair, majority voting/resignation policy, executive sessions, proxy access, and robust stock ownership/clawback, anti-hedging and anti-pledging policies .
- Other boards policy: Independent directors may serve on up to four public company boards in addition to ODP; Allen’s two public boards are within limits .
Fixed Compensation
| Component | Detail | FY2024 Amount |
|---|---|---|
| Annual Cash Retainer | Non-management director cash retainer | $92,500 |
| Committee Member Fees | Audit ($12,500); Corporate Governance & Nominating ($7,500) | $20,000 |
| Total Fees Earned (Cash) | Sum of retainer + committee fees | $112,500 |
| Annual Equity Retainer (RSUs) | RSUs granted (deferred until separation) | $157,510 |
| Total Director Compensation | Cash + equity | $270,010 |
Additional Director Program Terms:
- Standard director compensation is $250,000 annually: $92,500 cash and $157,500 equity in RSUs (deferred) .
- Committee chair/member fees: Audit ($25,000 chair / $12,500 member); Compensation & Talent ($20,000 / $10,000); Corporate Governance & Nominating ($15,000 / $7,500) .
Performance Compensation
| Metric Area | Director Plan Feature | FY2024 |
|---|---|---|
| Equity Award Type | RSUs (time-based; distribution deferred until separation) | Grant of 3,065 RSUs on 4/26/2024 at $51.39; fair value $157,510 |
| Performance Conditions | None for non-employee director RSUs (no performance metrics) | RSUs fully vested as of 12/28/2024; distribution deferred per elections |
| ESG/Financial Metrics | Not applicable to director compensation | Director compensation not tied to ESG/financial performance |
Other Directorships & Interlocks
| Company | Relationship to ODP | Interlock/Conflict Indicators |
|---|---|---|
| Lumen Technologies, Inc. | Telecom/infrastructure; ODP is B2B products/services distributor | No related-person transactions disclosed; independence maintained |
| ABM Industries Incorporated | Facilities services; ODP B2B distribution | No related-person transactions disclosed; independence maintained |
- Committee interlocks: ODP’s Compensation & Talent Committee reported no Item 404 conflicts; Allen is not listed as a member of that committee in 2024 .
Expertise & Qualifications
- Executive management: Technology executive, former CEO, and public company board member .
- Enterprise technology, supply chain, sales/marketing, and product development domain expertise .
- Financial, operational, and organizational leadership across public corporations .
Equity Ownership
| Ownership Element | Amount | Notes |
|---|---|---|
| Beneficially owned shares (direct/indirect) | 272 | As of March 3, 2025 |
| RSUs outstanding (fully vested; deferred distribution) | 22,301 | As of Dec 28, 2024; director RSUs fully vested; distribution deferred |
| Ownership as % of shares outstanding | ~0.0009% | 272 ÷ 29,818,271 shares outstanding as of Mar 3, 2025 |
| Pledging/Hedging | Prohibited | Company policy prohibits hedging/pledging by directors |
| Ownership guidelines | 5x cash retainer (historical); updated retention rules in 2025 | Allen has reached ownership guideline compliance |
Governance Assessment
- Strengths: Independent status, active committee roles (Audit and Corporate Governance & Nominating), robust attendance, and compliance with stringent director stock ownership guidelines support alignment with shareholders .
- Compensation alignment: Director pay structure emphasizes fixed cash and deferred equity (RSUs), with no performance-linked awards, reducing risk of misaligned incentives; anti-hedging/anti-pledging and clawback policies further enhance governance quality .
- Conflicts: No related-person transactions requiring disclosure; independence determinations affirm lack of material relationships; external board seats are within ODP’s governance limits .
- RED FLAGS: None observed—no attendance shortfalls, no related-party transactions, no pledging/hedging disclosed, and director compensation practices assessed as aligned with peers with no recent increases .