Bradley Alford
PERRIGO CoAbout Bradley A. Alford
Bradley A. Alford (age 68) is an independent director of Perrigo Company plc, serving since 2017 and currently a member of the Talent & Compensation Committee. He is the former Chairman/CEO of Nestlé USA and previously served as an Operating Partner and Industry Advisor at Advent International; he also serves on the board of Avery Dennison Corporation. Alford brings deep consumer products leadership with operational, supply chain, and marketing expertise, and is classified as independent by the Board.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Advent International | Operating Partner | 2016–2021 | Private equity operating leadership; consumer sector focus |
| Advent International | Industry Advisor | 2014–2016 | Strategic advisory in consumer products |
| Nestlé USA | Chairman/CEO | 2006–2013 | Led U.S. business; management, operations, supply chain, consumer marketing expertise |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Avery Dennison Corporation (NYSE: AVY) | Director | 2010–Present | Compensation; Nominating & Governance |
| Conagra Brands, Inc. | Director (prior) | 2015–2018 | Not disclosed |
| Nestlé USA (OTCMKTS: NSRGY) | Director (prior) | 2006–2013 | Not disclosed |
Board Governance
| Item | Details |
|---|---|
| Independence | Independent director (Board determined 10 of 11 nominees independent, including Alford) |
| PRGO Committees | Talent & Compensation Committee (member) |
| Chair roles | None (TCC Chair is Jeffrey B. Kindler) |
| Board/Committee meetings (2024) | Board met 7 times; total of 18 formal committee meetings |
| Attendance | Each director attended at least 75% of Board/committee meetings; all directors then serving attended the 2024 AGM |
| Independent sessions | Independent directors meet regularly in executive session; also meet in executive session with CEO |
| Lead/Chair context | Separate independent Chair (Orlando Ashford) since 2016; independent chair responsibilities enumerated |
Fixed Compensation (Non‑Employee Director Pay)
| Component | Amount/Detail | Notes |
|---|---|---|
| Annual Director Cash Retainer | $75,000 | Standard non‑employee director retainer |
| Committee Member Retainer (TCC) | $12,500 | Member (non‑chair) |
| 2024 Fees Earned or Paid in Cash (Alford) | $87,500 | Reflects director + committee member retainers |
| 2024 Stock Awards (RSUs) | $299,992 | 9,904 RSUs granted May 14, 2024; grant-date price $30.29; vest one year from grant |
| 2024 Total Director Compensation (Alford) | $387,492 | Sum of cash + stock award grant-date value |
| Program changes (2024) | None | Level/mix unchanged in 2024 |
Performance Compensation
| Element | Structure | Performance Metrics |
|---|---|---|
| Annual director equity | Service‑based RSUs vesting after one year (May 14, 2024 grant for Alford); intended to directly link majority of director compensation to shareholder interests | None (time‑based vesting only; no performance conditions) |
| Anti‑hedging/pledging | Directors prohibited from hedging, pledging, short sales, or similar transactions in company stock | Policy applies to directors/officers/employees |
Other Directorships & Interlocks
- Current public company board: Avery Dennison Corporation (Compensation; Nominating & Governance committees). No PRGO disclosure of interlocks or related‑party transactions involving Alford.
- Prior public boards: Conagra Brands, Inc. (2015–2018); Nestlé USA (2006–2013).
Expertise & Qualifications
- Executive leadership across public and private companies; service on public, private, and non‑profit boards.
- Extensive industry knowledge in consumer products with management, operations and supply chain, development and marketing experience.
Equity Ownership
| Holder | Ordinary Shares Beneficially Owned | Shares Acquirable Within 60 Days | Total Beneficial Ownership | Percent of Class |
|---|---|---|---|---|
| Bradley A. Alford | 36,010 | 9,904 | 45,914 | <1% |
Notes:
- Director stock ownership guideline: 6x annual cash retainer; all non‑employee directors are in compliance with guidelines or retention requirements.
- Insider trading policy prohibits hedging and pledging by directors.
Insider Trading & Compliance
| Item | Status |
|---|---|
| Section 16(a) compliance (2024) | Company disclosed certain late filings for other individuals; Alford not among those listed (i.e., no late filings disclosed for him) |
Related‑Party Transactions (Conflicts)
- The Nominating & Governance Committee, under the Related‑Party Transaction Policy, determined there were no related‑party transactions requiring disclosure in the proxy.
- Board’s independence review found no material relationships impairing independence for Alford.
Governance Assessment
- Board effectiveness and independence: Alford is independent and serves on the Talent & Compensation Committee, which is fully independent and advised by an independent compensation consultant (FW Cook, with no conflicts). This supports robust oversight of executive pay and culture.
- Engagement/attendance: Board met 7 times with 18 committee meetings; each director met at least the 75% attendance threshold, and all served directors attended the 2024 AGM—indicating baseline engagement.
- Alignment and incentives: Director pay is equity‑heavy via annual RSUs intended to directly link the majority of director compensation to shareholder interests; anti‑hedging/pledging policy enhances alignment.
- Ownership discipline: Directors must hold stock equal to 6x the annual cash retainer; all are compliant or under retention rules, reinforcing long‑term alignment.
- Investor sentiment: 2024 Say‑on‑Pay approval exceeded 97%, signaling strong shareholder support for compensation governance (indicative of overall confidence in the TCC’s oversight).
- Overboarding risk: NGC explicitly evaluates overboarding and considered other board commitments; Alford serves on one other public board (Avery Dennison), which appears manageable.
RED FLAGS
- None identified in the proxy regarding Alford: no related‑party transactions, no pledging/hedging permitted, no reported late Section 16 filings, and independent status affirmed.