Joher Akolawala
DOUGLAS DYNAMICSAbout Joher Akolawala
Independent director at Douglas Dynamics (NYSE: PLOW) since 2022; age 58. Former EVP & CFO of Pella Corporation (Mar 2020–Sep 2024), with prior senior finance leadership at Walgreens Boots Alliance (SVP, CFO–International), Mondelez International (SVP, Global Finance), and nearly 23 years at Kraft Foods in finance, IT, and CFO roles. The board designates him an “audit committee financial expert”; he brings expertise in finance, information technology, cybersecurity, M&A, strategy, and international business. The board has affirmatively determined he is independent under NYSE standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pella Corporation (private) | Executive Vice President & Chief Financial Officer | Mar 2020 – Sep 2024 | Senior finance leadership at a major manufacturer; private-company CFO scope. |
| Walgreens Boots Alliance (Nasdaq: WBA) | SVP, Chief Financial Officer – International | Nov 2019 – Mar 2020 | Oversight of international finance. |
| Mondelez International (Nasdaq: MDLZ) | Senior Vice President, Global Finance | 2014 – Oct 2019 | Global finance leadership at multinational CPG. |
| Kraft Foods Group | CFO, Kraft Grocery; VP, Business Systems; CFO, Kraft Foodservice (multiple roles) | Nearly 23 years | Senior finance/IT roles over ~23 years at blue-chip food company. |
External Roles
| Company/Institution | Role | Tenure | Notes |
|---|---|---|---|
| — | None disclosed in the company’s proxy for other current public company directorships | — | No compensation committee interlocks reported. |
Board Governance
- Independence: Independent director per NYSE; majority of the board is independent.
- Committees and roles:
- Audit Committee: Chair; designated audit committee financial expert; committee met 6 times in 2024; oversees enterprise risk, financial reporting, internal audit, compliance, and IT/cybersecurity/AI risk.
- Compensation Committee: Member; committee met 5 times; engages FW Cook as independent consultant; no interlocks.
- Nominating & Corporate Governance Committee: Member; committee met 5 times; oversees board composition, director pay, and ESG oversight.
- Attendance and engagement: Board held 9 meetings in 2024; non‑management directors held 9 executive sessions; all current directors attended at least 75% of board/committee meetings and the 2024 annual meeting.
- Lead Independent Director: Donald W. Sturdivant; responsibilities include presiding executive sessions, agenda/info flow oversight, and stockholder availability.
- Term: Class with term running to 2026.
Fixed Compensation (Non-Employee Director Pay – 2024)
| Component | Amount | Detail |
|---|---|---|
| Cash fees (2024) | $81,552 | Fees earned/paid in cash per director comp table. |
| Equity grant (2024) | $101,893 | 4,142 fully vested RSUs granted to each outside director. |
| Total (2024) | $183,445 | Sum of cash and equity for 2024. |
Director compensation program structure (policy-level, 2024):
- Annual cash retainer: $75,000.
- Equity retainer: $110,000 in fully vested RSUs.
- Additional retainers: Lead Director $25,000; Audit Chair $15,000; Compensation Chair $12,500; Nominating & Governance Chair $10,000; Board Chair $75,000.
Performance Compensation
- Non-employee directors do not receive performance-conditioned compensation; annual equity retainer is granted as fully vested RSUs (no performance metrics).
Other Directorships & Interlocks
| Company | Type | Role | Interlocks/Conflicts |
|---|---|---|---|
| — | — | None disclosed for other current public company boards | Compensation Committee interlocks: none reported. |
Expertise & Qualifications
- Audit Committee Financial Expert designation; deep finance acumen.
- Functional expertise in finance, IT, cybersecurity, M&A, and strategy; extensive multinational experience; contributes to board diversity.
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Shares beneficially owned | 13,086 | As of record date disclosed in proxy tables. |
| Ownership as % of outstanding | ~0.057% | 13,086 / 23,098,441 shares outstanding on Mar 3, 2025. |
| Director stock ownership guideline | 3x cash portion of annual retainer | Applies to non‑employee directors; 5‑year compliance window. |
| Guideline compliance status | Directors either satisfied or within compliance window | Company statement on compliance. |
| Hedging/monetization | Prohibited for directors | Anti‑hedging policy in place. |
Governance Assessment
-
Strengths
- Independent, chairs Audit, and designated audit committee financial expert; active oversight of financial reporting and cybersecurity/AI risks—key for investor confidence.
- Broad global finance background (Pella, WBA, Mondelez, Kraft) aligns with Audit leadership and board oversight needs.
- Committee structure fully independent; Comp Committee uses independent advisor with no conflicts; no related‑party transactions reported.
- Engagement indicators: board and executive sessions held frequently; directors met attendance thresholds; all attended the annual meeting.
- Strong say‑on‑pay support in 2024 (97%), indicating positive investor sentiment on pay governance.
-
Potential watch items
- Director equity retainer is fully vested at grant; alignment is nevertheless supported by stock ownership guidelines (3x cash retainer) and anti‑hedging policy.
No red flags disclosed regarding conflicts, related‑party transactions, hedging/pledging, or compensation committee interlocks.