Kathy Fortmann
PPG INDUSTRIESAbout Kathy L. Fortmann
Independent director at PPG since July 2024; age 57. CEO of Amyris, Inc. since May 2024, with 35 years of leadership across specialty and fine chemicals, food ingredients, and agriculture, including senior roles at IFF, FrieslandCampina, Cargill, and DuPont. Serves on PPG’s Audit Committee and Sustainability & Innovation Committee; Board determined she is independent as of February 20, 2025. European operating experience aligns with PPG’s significant EMEA sales exposure.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Amyris, Inc. | Chief Executive Officer | Since May 2024 | Current CEO experience; global operations leadership |
| ACOMO N.V. | Chief Executive Officer | 2021–2023 | Led European-based food/ag ingredients company; EMEA relevance |
| International Flavors & Fragrances (IFF) | Division President, Nourish; Division CEO, Taste; Head, Taste Strategy | 2020–2021 | Innovation and product strategy experience |
| FrieslandCampina | Business Group President | 2017–2019 | Managed global business operations |
| Cargill, Incorporated | President, Business Services; President, Starches & Sweeteners Europe; VP Global Polyols & Dextrose; European Lead, Health & Nutrition | 2005–2017 | Manufacturing, supply chain and EMEA operations leadership |
| E.I. DuPont de Nemours, Inc. | Various leadership positions | 1989–2005 | Specialty chemicals grounding |
External Roles
| Organization | Role | Tenure | Public Company? |
|---|---|---|---|
| FMC Corporation | Director | Current | Yes |
| ACOMO N.V. | Director | 2021–2023 | Yes (Amsterdam-listed) |
| James Finlay Limited | Director | 2019–2021 | Private |
Board Governance
- Committees: Audit (member) and Sustainability & Innovation (member); Audit met 5 times in 2024 and Sustainability & Innovation met 3 times.
- Audit Committee Report signatory (demonstrates active engagement with financial reporting and auditor oversight). Board deems all Audit members “audit committee financial experts.”
- Independence: Determined independent at the Feb 20, 2025 meeting; 10 of 11 directors are independent.
- Attendance: Full Board met 8 times in 2024; average attendance 100% across Board and committees; no director under 75%.
- Term: Elected to one-year terms beginning 2025 following declassification; Fortmann standing for election to serve until 2026 Annual Meeting.
Fixed Compensation
| Component | 2024 Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 95,380 | Prorated for service beginning July 17, 2024 |
| Committee chair fees | 0 | Not a chair |
| Lead Director fee | 0 | Not Lead Director |
| All other compensation | 5,000 | Foundation matching gifts program |
| Total cash & other | 100,380 | Sum of cash retainer + other |
- Standard director fees: $135,000 annual cash retainer; chair fees: Audit $30,000; Nominating & Governance $25,000; Human Capital $25,000; Sustainability & Innovation $20,000; Lead Director $40,000.
Performance Compensation
| Equity Award | Grant Date | Type | Shares | Grant-Date FV per RSU ($) | Total FV ($) | Vesting |
|---|---|---|---|---|---|---|
| Director equity grant (2024) | July 17, 2024 | TBRSU | 1,041 | 133.81 | 139,297 | Vests April 16, 2025 |
- Program design: Non-employee director equity uses time-based RSUs (TBRSUs); no performance metrics or options disclosed for directors in 2024.
- Reference: Other directors received 1,368 TBRSUs in April 2024 at $135.30 grant-date FV; vest April 16, 2025.
Other Directorships & Interlocks
| Entity | Overlap With PPG | Potential Interlock/Conflict |
|---|---|---|
| FMC Corporation | Adjacent chemicals industry | No related-party transactions disclosed for Fortmann in proxy; Board reviews related person transactions per policy. |
| Amyris, Inc. (CEO) | Specialty chemicals/biotech ingredients | Time commitments monitored by “overboarding” policy; no specific conflict disclosed. |
Expertise & Qualifications
- Strategic skills include manufacturing, global business, sustainability, technology/innovation, and human capital management per PPG’s skills matrix and biography narrative.
- EMEA leadership experience supports oversight where ~30%+ of sales are in EMEA; sustainability focus aligned with PPG targets.
Equity Ownership
| Holder | Common Stock | Common Stock Equivalents | Total Beneficial Ownership | Notes |
|---|---|---|---|---|
| Kathy L. Fortmann | 1,291 | 775 | 2,066 | Includes RSUs vesting within 60 days of Feb 21, 2025; no pledging disclosed. |
- Director stock ownership guidelines: Non-employee directors must own shares equal to 5x the cash portion of annual retainer; unvested TBRSUs and common stock equivalents count. Fortmann is within her five-year compliance window.
Governance Assessment
- Board effectiveness: Fortmann adds experienced EMEA operator and sustainability/innovation oversight through two key committees; Audit engagement documented via report signature and “financial expert” status—positive for investor confidence on controls and reporting.
- Alignment and pay: Mix of cash retainer and TBRSUs with defined vesting supports alignment; ownership guidelines and counting of TBRSUs/common-stock equivalents reinforce skin-in-the-game expectations; Fortmann compliant timeline in place.
- Independence and attendance: Affirmed independent; Board/committee attendance at 100% average in 2024 indicates strong engagement.
- Red flags: No pledging; no related-party transactions disclosed for Fortmann; director equity is time-based—no option repricing or performance award modifications noted.
- Potential watch items: External CEO role at Amyris plus FMC directorship—PPG has an overboarding policy and limits on public boards, mitigating time-commitment risk; continue monitoring for any supplier/customer ties with FMC or Amyris that might create related-party exposure.