Mohit Singh
About Mohit Singh
Independent director (age 49) at Powell Industries since 2024; currently serves on the Audit Committee and is designated an “audit committee financial expert” by the Board . Singh is EVP and CFO at Expand Energy Corporation; previously CFO at Chesapeake Energy, executive leadership at BPX Energy (six years), investment banking at Goldman Sachs (2008–2013) and RBC Capital Markets (2013–2014), and engineering roles at Shell . He holds a BTech in Chemical Engineering (IIT Kanpur), a PhD in Chemical Engineering (University of Houston), and an MBA (UT Austin) . The Board has determined he is independent under Nasdaq rules; FY2024 saw six Board meetings with no incumbent director below 75% attendance; all directors attended the February 14, 2024 annual meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BPX Energy (BP’s U.S. onshore subsidiary) | Executive leadership; led M&A, corporate land, reserves; prior Head of Business Development & Exploration; SVP – North Business Unit | Six years (dates not specified) | Strategy, portfolio optimization (energy operations) |
| Goldman Sachs | Investment banker focused on oil and gas transactions | 2008–2013 | Capital markets, M&A execution |
| RBC Capital Markets | Investment banker focused on oil and gas transactions | 2013–2014 | Advisory, financing |
| Shell Exploration & Production Company | Business planning, reservoir engineering, research engineering | Early career (dates not specified) | Technical foundation in energy |
| Chesapeake Energy Corporation | Executive Vice President & Chief Financial Officer | Dates not specified | Public company CFO experience; SEC and financial expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Expand Energy Corporation | Executive Vice President & Chief Financial Officer | Current | Current outside executive role; finance and SEC rules expertise |
| Chesapeake Energy Corporation | Executive Vice President & Chief Financial Officer | Prior | Prior public company CFO |
Board Governance
- Independence: Board determined Singh is independent under Nasdaq Rule 5605(a)(2); Audit Committee members are also independent per Exchange Act Section 10A(m)(3) .
- Committee assignments: Audit Committee member; designated “audit committee financial expert” (with Christopher E. Cragg) .
- Attendance and engagement: FY2024 had six Board meetings; no incumbent director was under 75% attendance; all directors attended the 2024 annual meeting .
- Audit Committee scope includes financial reporting integrity, internal controls, cybersecurity metrics, and conflict-of-interest oversight .
- Board leadership: Combined CEO/Chairman structure with Presiding Director (Ms. Curtis) to lead executive sessions and serve as liaison; executive sessions of independent directors held regularly .
Fixed Compensation
| Component (Non-Employee Directors, FY2024) | Amount |
|---|---|
| Quarterly Retainer – All Other Directors | $16,250 |
| Quarterly Retainer – Audit Chair | $20,750 |
| Quarterly Retainer – Compensation Chair | $19,250 |
| Quarterly Retainer – Nominating & Governance Chair | $19,250 |
| Quarterly Retainer – Presiding Director | $19,250 |
| Annual Restricted Stock Award (value) | $100,000 |
| Mohit Singh – Director Compensation (FY2024) | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | 32,500 |
| Stock Awards (grant-date fair value) | 101,515 |
| Total | 134,015 |
- Policy notes: Non-employee directors receive cash retainers and annual restricted stock; expenses for meeting attendance reimbursed . Director stock ownership guideline: minimum $195,000 in vested or unvested shares; four years to comply; Singh has not yet reached the target due to tenure .
Performance Compensation
| Equity Grant Detail (FY2024) | Data |
|---|---|
| Annual restricted stock value (policy) | $100,000 per non-employee director |
| Mohit Singh February 2024 issuance – unvested shares outstanding at 9/30/2024 | 660 shares |
| Grant-date fair value recognized (FY2024) | $101,515 |
| Vesting condition | Earlier of first anniversary of grant date or next annual meeting |
The Director Plan caps annual stock options/SARs at 12,000 shares and other stock-based awards at 4,000 shares per director; in FY2024, directors’ restricted stock moved from fixed shares to fixed value ($100,000) .
Other Directorships & Interlocks
- No other public company directorships for Singh were disclosed in the proxy; biography lists executive roles but no board seats at public companies .
Expertise & Qualifications
- Financial expert designation for Audit Committee; deep experience in M&A, SEC rules, and corporate finance .
- Education: BTech (IIT Kanpur), PhD (University of Houston), MBA (UT Austin) .
- Industry: Energy sector leadership (BPX, Chesapeake), banking (Goldman Sachs, RBC), and technical engineering background (Shell) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Mohit Singh | 660 | * (less than 1%) | Includes 660 shares of restricted stock issued under the 2014 Non-Employee Director Equity Incentive Plan |
| Director stock ownership guideline | $195,000 | — | All non-employee directors are in compliance; Singh not yet at target due to tenure; four-year compliance window |
Insider Trades & Section 16 Compliance
- The company disclosed untimely Form 4 filings in FY2024; each of Alaina K. Brooks, Christopher E. Cragg, Katheryn B. Curtis, James W. McGill, Mohit Singh, John G. Stacey, and Richard E. Williams did not timely file a Form 4 for a February 2024 transaction (administrative timing issue) .
Governance Assessment
- Strengths:
- Independent director with Audit Committee financial expert designation; enhances financial reporting oversight and credibility .
- Attendance and engagement standards met; Board holds regular executive sessions led by Presiding Director, providing independent oversight despite combined CEO/Chair structure .
- Director compensation mix includes meaningful equity grants; fixed-value equity structure promotes alignment and reduces dilution variability .
- Robust policies: hedging and pledging prohibited for Board members; related-party transactions reviewed by Audit Committee/independent directors .
- Watch items / RED FLAGS:
- Minor Section 16 timing issue (untimely Form 4 in Feb 2024); administrative in nature but noted for compliance vigilance .
- Ownership guideline not yet met (permitted due to new tenure); monitor progress toward $195,000 guideline within four-year window for alignment .
- Combined CEO/Chair structure can concentrate power; presence of Presiding Director and executive sessions partially mitigates this risk .
Related-party transactions: Company requires disclosure and Audit Committee/independent director review of any transactions >$120,000 with directors/officers/immediate family; no Singh-specific related-party transactions disclosed .