Julie A. Piggott
OLINAbout Julie A. Piggott
Independent director of Olin Corporation since June 2023; age 64. She is a former Executive Vice President and Chief Financial Officer of BNSF Railway Company (2014–2021) with prior finance and commercial roles at BNSF since 1991; earlier career included finance, accounting and audit roles at a private investment management company and Ernst & Young (formerly Ernst & Whinney). She holds a B.S. in Accounting from Minnesota State University Moorhead, an Executive MBA from Southern Methodist University, and an inactive CPA license in Minnesota . She is independent under NYSE standards and Olin’s governance principles .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BNSF Railway Company | Executive Vice President & Chief Financial Officer | 2014–2021 | Strategic leadership across finance, accounting, risk management, and business management in a large-scale supply chain enterprise . |
| BNSF Railway Company | VP Planning & Studies; Controller | 2009–2014 | Led planning and studies; enterprise controllership . |
| BNSF Railway Company | VP Finance & Treasurer; VP Finance | 2006–2009 | Corporate finance, capital structure, treasury leadership . |
| Private investment management company | Finance roles | N/D | Finance/accounting experience prior to BNSF . |
| Ernst & Young (formerly Ernst & Whinney) | Audit | N/D | Public accounting foundation; inactive CPA–MN . |
External Roles
| Organization | Role | Committees/Impact |
|---|---|---|
| Arcosa, Inc. | Director | Audit Committee; Governance and Sustainability Committee . |
| Non-profit charity (not named) | Director | Board service for a non-profit charity . |
| Minnesota State University Moorhead | Advisory Board Member | Advisory board, College of Business, Analytics & Communications . |
Board Governance
- Independence: Board determined Piggott is independent (all nominees except the CEO are independent) .
- Committees: Compensation Committee member; Nominating and Governance Committee member .
- Attendance: In 2024, the Board met 6 times; each incumbent director attended 100% of aggregate Board and committee meetings; non-employee directors held an executive session at each regularly scheduled Board meeting; all directors attended the 2024 annual meeting .
- Committee activity in 2024: Audit (5 meetings), Compensation (4 meetings), Nominating & Governance (4 meetings) .
- Leadership structure: Independent Chairman (William H. Weideman); no lead director since roles were separated in March 2024 .
- Related-party oversight: Nominating & Governance Committee pre-approves and evaluates related party transactions; none occurred in 2024 .
- Hedging/pledging: Prohibited for directors; as of March 3, 2025, no shares were pledged by any director or executive officer .
Fixed Compensation (Director)
| Element | 2024 Program Design | Piggott 2024 Amounts |
|---|---|---|
| Annual Stock Grant | $115,000 (credited as phantom stock units) | Included in stock awards total $155,058 (fair value) . |
| Annual Retainer – Stock | $40,000 (shares or phantom stock units) | Included in stock awards total $155,058 (fair value) . |
| Annual Retainer – Cash | $100,000 (cash or deferred) | $100,000; Piggott elected to defer to her deferred cash account . |
| Committee Chair/Lead/Chairman Retainers | Additional retainers (if applicable) | Not applicable to Piggott in 2024 . |
| Total 2024 Director Compensation | N/A | $255,058 (cash + stock) . |
- 2025 updates to non-employee director compensation (effective 2025): Annual Stock Grant $140,000; Annual Retainer – Stock $60,000; Annual Retainer – Cash $100,000; Chair retainers increased; new Non‑Executive Board Chair retainer $150,000; changes intended to align closer to peer median with greater equity emphasis .
Performance Compensation
- Olin does not disclose performance-conditioned pay for directors; non-employee director equity is delivered as common stock or phantom stock units (time-based), not performance shares .
Other Directorships & Interlocks
| Company | Sector Relevance | Interlock/Conflict Notes |
|---|---|---|
| Arcosa, Inc. | Industrials (infrastructure products) | No Olin-related related-party transactions disclosed with Arcosa in 2024; Olin’s 2024 related-person transactions section reports none for directors . |
- Compensation Committee Interlocks: In 2024, Compensation Committee members (including Piggott) were not Olin employees or officers and had no relationships requiring Item 404 disclosure; no cross-comp committee/officer interlocks with other companies .
Expertise & Qualifications
- Finance, accounting, risk management, strategic leadership; former EVP/CFO of BNSF (complex supply chain); inactive CPA (MN); education: B.S. Accounting (Minnesota State University Moorhead), Executive MBA (SMU) .
- Board skills matrix emphasis areas include financial experience, risk management, corporate governance/public company experience—Piggott is cited for finance and governance competencies in her biography and committee assignments .
Equity Ownership
| Item | Value |
|---|---|
| Beneficial Ownership (Common Stock) | 5,315 shares (includes phantom stock units credited to director deferred account; such securities have no voting rights) . |
| Phantom Stock Units (Director Deferred Account) | 5,315 units . |
| Options (Exercisable/Unexercisable) | None disclosed for directors; beneficial ownership table shows no options for Piggott . |
| Ownership as % of Outstanding | Less than 1% (per table methodology) . |
| Pledging/Hedging | Prohibited; no shares pledged by any director as of Mar 3, 2025 . |
| Director Ownership Guidelines | Minimum 5x annual retainer within 5 years; all current non-employee directors are in compliance as of the proxy date . |
Governance Assessment
- Strengths: Independent director with deep CFO-level financial discipline and risk oversight experience; active on Compensation and Nominating & Governance committees; perfect attendance; strong governance policies (no hedging/pledging; robust related-party review); no related-person transactions; high say‑on‑pay support (96.6% in 2024) indicating shareholder confidence in pay governance .
- Alignment: Director compensation includes meaningful equity (phantom stock units and stock retainers) with expanded equity weighting in 2025, plus Piggott’s deferral election, supporting long-term alignment .
- Potential risks/red flags: None disclosed specific to Piggott; no attendance issues, no related-party ties, and no pledging/hedging .
Notes:
- Board and committee activity counts, attendance, and independence determinations are for 2024 as disclosed in the 2025 proxy .
- Director compensation amounts reflect 2024 grant-date fair values and cash fees; 2025 updates raise equity components to align with peers .