Jared Kushner
About Jared Kushner
Jared Kushner is an independent director of QXO, appointed July 22, 2024; the proxy lists his age as 44 in the director nominee table and 43 in his biography section. He is CEO of Affinity Partners, a global investment firm with over $4.8 billion under management, and previously served as Senior Advisor to the President of the United States (2017–2021). He earlier led Kushner Companies and founded two technology firms; he holds JD and MBA degrees from New York University and a bachelor’s degree from Harvard University. He has no QXO board committee assignments and no other public company directorships disclosed .
Past Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| Executive Office of the President (U.S.) | Senior Advisor to the President | 2017–2021 | Led Middle East policy efforts; managed U.S.–Mexico relationship; supported criminal justice reform |
| Kushner Companies | Chief Executive Officer | Not disclosed | Led a New York-based real estate developer |
| Technology ventures (unnamed) | Founder | Not disclosed | Founded two technology companies |
External Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| Affinity Partners | Chief Executive Officer | Current | Global investment firm with >$4.8B AUM |
Board Governance
- Independence: The Board affirmatively determined all directors except Brad Jacobs and Mario Harik are independent, which includes Kushner .
- Committee memberships: None; Kushner is not listed as a member or chair of Audit, Compensation & Talent, or Nominating/Corporate Governance & Sustainability committees .
- Board leadership: Allison Landry is Lead Independent Director; independent directors may hold executive sessions at least annually .
- Meeting attendance: The Board met nine times in FY 2024; all directors attended at least 75% of their Board/committee meetings; the Board had 100% attendance at seven of nine meetings, and all directors standing for re‑election attended the 2024 annual meeting .
- Committee oversight descriptions: Audit (including related‑party transactions), Compensation & Talent (exec and director pay), Nominating/Corporate Governance & Sustainability (governance and sustainability), each comprised entirely of independent directors .
Fixed Compensation
- Non‑employee director program: Annual cash retainer $100,000, paid quarterly; expected annual time‑based RSUs with grant date fair value of $175,000 .
- Additional cash retainers: Lead Independent Director $30,000; Audit Chair $25,000; Compensation Chair $20,000; Nominating Chair $20,000; no meeting fees .
| Director | Fees Earned Cash ($) | Stock Awards ($) | RSUs Granted (#) | Grant Date |
|---|---|---|---|---|
| Jared Kushner | 19,399 | 175,002 | 14,523 unvested as of 12/31/24 | July 30, 2024 |
Notes: RSUs reflect expected annual time‑based director grants; no options were granted to directors in 2024; directors employed by QXO do not receive additional board compensation .
Performance Compensation
- Structure: Director equity compensation is time‑based RSUs; no performance‑conditioned PSUs or options disclosed for directors .
| Metric | Applies to Director Grants? | Details |
|---|---|---|
| TSR‑based PSU performance grid | No (executive awards only) | PSUs earned 0–225% based on S&P 500 relative TSR (executive program) |
| Operational metrics (Revenue/EBITDA) | Not disclosed for directors | Director grants are time‑based RSUs |
| Vesting schedule | Not explicitly disclosed for directors | Director RSUs are time‑based; unvested RSUs outstanding as of 12/31/24 were 14,523 for each current non‑employee director |
Other Directorships & Interlocks
| Company | Role | Committee Roles |
|---|---|---|
| None disclosed | — | — |
Kushner has no other public company boards disclosed by QXO .
Expertise & Qualifications
- Growth investing across equities and real estate; geopolitics and public policy experience .
- Education: JD and MBA (NYU), BA (Harvard) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Ownership Notes |
|---|---|---|---|
| Jared Kushner | 16,411,379 | 4.0% | Indirect via Affinity Partners Parallel Fund I LP (16,247,069) and Affinity Partners Fund I LP (164,310); Affinity Partners GP LP is GP to Parallel Fund I; A Fin Management LLC is investment manager; Kushner is CEO of A Fin |
| Director RSUs (Kushner) | 14,523 unvested | — | Director RSUs granted 7/30/24; total unvested count as of 12/31/24 |
- Trading policy: QXO maintains a securities trading policy governing transactions by directors, officers, and employees (Exhibit 19.1 to 2024 Annual Report) .
Governance Assessment
- Alignment and independence: Kushner is classified as independent and has no committee assignments, reducing potential direct influence over audit, compensation, or nominating decisions—while Board and committees are majority/entirely independent, respectively .
- Ownership alignment: He holds a meaningful stake (4.0%) via Affinity Partners funds, plus standard director RSUs, which can align interests with shareholders but also creates potential conflicts if fund‑level interests diverge from minority shareholders. The Audit Committee oversees related‑party transactions, and Item 404 processes are in place .
- Engagement: Board attendance metrics are strong at the Board and committee level; per‑director attendance detail is not provided, but all current directors surpassed the 75% threshold and attended the annual meeting .
- Compensation hygiene: Director pay mix favors equity (time‑based RSUs) paired with a modest cash retainer; no meeting fees, and clearly disclosed chair/lead premiums—no director options, performance equity, or unusual perks disclosed for directors .
Red flags and watch items:
- Significant external fund ownership: Affinity Partners’ 4.0% beneficial stake could create perceived conflicts in capital allocation or transaction processes; current oversight assigns related‑party review to the Audit Committee .
- Concentrated control elsewhere on the Board: JPE’s rights to designate a majority of nominees and large ownership concentration underscore the need for robust independent director oversight; Kushner’s independence and lack of committee roles should be weighed against overall Board structure .
Citations:
- Director biography, independence, and committee roles .
- Board structure, lead independent director, attendance, meetings .
- Director compensation policy, chair retainers, and 2024 director compensation table .
- Beneficial ownership totals and Affinity Partners fund breakdown .
- Related‑party oversight and securities trading policy .