Christopher Bodine
About Christopher W. Bodine
Independent director of OneWater Marine (ONEW); age 69; director since 2020 (at IPO). Retired as President, Health Care Services at CVS Health after 24 years (responsible for Strategy, BD, Trade Relations, Sales/Account Mgmt, Merchandising, Marketing, IT, MinuteClinic). Education: attended Troy State University; Honorary Doctorate in Business Administration from Johnson & Wales University. Current roles include Chairman/Director of ContinuumRX Services, Venture Partner at NewSpring Capital, and Director of Russell Medical Center Foundation .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CVS Health (CVS) | President, Health Care Services | 24 years; retired 2009 | Led strategy, BD, merchandising, IT; MinuteClinic oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ContinuumRX Services, Inc. | Chairman & Director | Current | Private company healthcare services |
| NewSpring Capital | Venture Partner | Current | PE/VC firm; investment oversight |
| Russell Medical Center Foundation | Director | Current | Non-profit foundation |
| Allergan plc | Director | Prior | Former public company director |
| Fred’s, Inc. | Director | Prior | Former public company director |
| Nash-Finch Company | Director | Prior | Former public company director |
| Bryant University | Trustee | Prior | Academic governance role |
Board Governance
- Independence: Board determined Bodine is independent under SEC/Nasdaq rules .
- Committee assignments:
- Audit Committee member (Chair: J. Steven Roy); committee met 8 times in FY2024 .
- Compensation Committee member (Chair: Bari A. Harlam); met 5 times .
- Nominating & Governance Committee Chair; met 4 times .
- Board engagement: Board met 7 times in FY2024; each director attended at least 75% of Board and applicable committee meetings; all directors attended the 2024 annual meeting .
- Board leadership: Separate Chair and CEO; Chair (independent) presides over executive sessions of independent directors .
Fixed Compensation (Director)
| Component (FY2024) | Amount | Notes |
|---|---|---|
| Cash Fees | $95,000 | Base annual retainer $75,000; Governance Chair fee $20,000 per policy |
| Stock Awards (RSUs) | $125,000 | 4,880 RSUs granted 10/1/2023; vested 10/1/2024 |
| Total | $220,000 | Cash + Equity |
Director compensation policy highlights:
- Annual retainer $75,000 cash; annual RSU grant valued at $125,000 (1-year vest) .
- Committee chair retainers: Audit $25,000; Compensation $20,000; Governance $20,000; Non-exec Chair $80,000 .
- Director stock ownership guidelines: $225k within 5 years; $300k within 6 years; $375k (or 5x base retainer) within 7 years .
Performance Compensation (Director)
- No performance-based director equity disclosed; RSUs vest based on continued service (time-based) and vest in full after one year .
- Anti-hedging/pledging: Directors prohibited from hedging, using derivatives, margining or pledging company securities (exceptions only for CEO/COO founders) .
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| ContinuumRX Services, Inc. | Private | Chairman/Director | No ONEW-related transactions disclosed |
| NewSpring Capital | Private firm | Venture Partner | No ONEW-related transactions disclosed |
| Allergan plc (AGN), Fred’s (FRED), Nash-Finch | Public (historical) | Director (prior) | Historical roles; no current interlocks reported |
Expertise & Qualifications
- Leadership and operational experience; public company experience (per Board matrix) .
- Deep healthcare services and retail operations/merchandising expertise from CVS tenure .
- Governance experience across public, private, and non-profit boards .
Equity Ownership
| Holder | Shares Owned (Class A) | % of Outstanding | RSUs Outstanding (as of 9/30/2024) |
|---|---|---|---|
| Christopher W. Bodine | 20,808 | <1% | 4,880 (granted 10/1/2023; unvested at FY-end, vested 10/1/2024) |
Insider activity:
- Form 4 filed October 6, 2025: RSU grant to director Bodine; reported beneficial ownership after grant of 33,928 shares (summary) .
Alignment and safeguards:
- Director stock ownership guidelines in place .
- Anti-hedging/pledging policy covers directors .
Governance Assessment
-
Strengths
- Independent director; chairs Nominating & Governance—direct influence over board composition, director compensation, and governance processes .
- Active across three key committees (Audit, Compensation, Governance), indicating high engagement and board confidence; meeting cadence robust (Audit 8, Comp 5, Gov 4) .
- Transparent director pay with equity component aligning interests; no meeting fees/perquisite costs; ownership guidelines promote skin-in-the-game .
- Company-wide governance controls: clawback policy (executive incentive comp), anti-hedging/pledging, codes of ethics, independent comp consultant (Aon) with annual independence review .
-
Watch items / potential risks
- Company discloses related-party transactions (leases, guarantees, consignment) primarily involving CEO/COO founders and >10% holders; none attributed to Bodine, but oversight is critical given scale and TRA obligations that could impact liquidity/control events .
- Director stock ownership guideline compliance status by individual not disclosed; assessment requires current valuation vs thresholds (Bodine at year ~5 since 2020) .
-
Overall signal for investor confidence
- Bodine’s independence, governance chair role, and multi-committee service support board effectiveness. Absence of disclosed related-party ties for Bodine and alignment via equity grants and ownership guidelines are positives, while broader company-party transactions and TRA mechanics warrant continued monitoring; governance structures assign committee oversight to independent directors (including Bodine) mitigating risk .