Frank J. Dellaquila
RELIANCEAbout Frank J. Dellaquila
Independent director of Reliance, Inc. since 2021; currently serves as Audit Committee Chair. Former Senior Executive Vice President and Chief Financial Officer of Emerson Electric Co. (2009–May 2023). Age 68. Education: BS in Accounting (Fordham University) and MBA in Finance (Columbia University). Core credentials: international finance and tax strategy, financial controls, risk management, and M&A; audit committee leadership experience at multiple companies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Emerson Electric Co. | Senior Executive Vice President & CFO | 2009–May 2023 | Led finance, tax strategy, controls, risk management, M&A |
| Emerson Electric Co. | Treasurer; CFO of $3.6B business unit; SVP, Acquisitions & Development | 1991–2009 | Senior finance roles shaping capital allocation and deal execution |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Latham Group, Inc. (Nasdaq: SWIM) | Director | Current | Audit Committee Chair |
| FM Global (private) | Director | Current | Finance Committee member |
| Aptiv PLC (NYSE: APTV) | Director | 2017–2020 | Finance and Audit Committees |
Board Governance
- Independence: Classified as an independent director; Audit Committee Chair .
- Attendance and engagement: The Board met nine times in 2024; all current directors attended at least 90% of Board and committee meetings in 2024; independent directors meet regularly in executive sessions .
- Structure and oversight: Board has an independent, non-executive Chair (Douglas W. Stotlar); all standing committees composed solely of independent directors; policy that directors may not stand for re-election after age 75 .
- Director ownership standard: Directors must own shares equal to 5× annual cash retainer within six years; all directors are compliant or on track per policy .
- Compensation committee independence: Committee comprised entirely of independents; no interlocks or insider participation; uses an independent consultant (Pay Governance) .
Fixed Compensation (Non-Employee Director Pay – 2024)
| Component | Amount |
|---|---|
| Annual cash retainer | $140,000 |
| Audit Committee Chair retainer | $25,000 |
| Equity grant (fully vested on grant) | 506 shares; $150,059 grant-date fair value ($296.56 per share); granted May 15, 2024 |
| Meeting fees | None (no additional fees for Board/committee meetings) |
Director-specific 2024 total:
- Cash paid to Dellaquila: $165,000 (retainer + Audit Chair)
- Stock awards: $150,059
- Total: $315,059 (cash ~52%, equity ~48%)
Performance Compensation
| Element | Design | Metrics/Terms |
|---|---|---|
| Director equity | Annual stock award (DSUs/stock) | 506 shares; fully vested on grant; no performance conditions |
| Options | None outstanding under plans as of 12/31/24 | Company uses RSUs/stock; no director options outstanding |
The director program is not performance-metric based; equity supports alignment via ownership and immediate vesting .
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Comment |
|---|---|---|
| Latham Group, Inc. | Director; Audit Committee Chair | External public board; no related-person transactions disclosed with Reliance |
| FM Global | Director; Finance Committee | Private insurer; no related-person transactions disclosed with Reliance |
| Aptiv PLC | Former Director (2017–2020) | Past role; no current interlock with Reliance committees |
- Related-person transactions: Other than the disclosed employment of a former director’s family member, the company reports no related-person transactions since Jan 1, 2024; none involving Dellaquila are disclosed .
- Compensation Committee interlocks: None (committee members are independent; no cross-company interlocks) .
Expertise & Qualifications
- Former public-company CFO with deep international finance and tax strategy experience .
- Extensive leadership in financial controls, risk management, and M&A execution .
- Multi-board audit leadership (Audit Chair at Reliance and Latham), bringing robust oversight of reporting and controls .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | % of Outstanding | Notes |
|---|---|---|---|
| Frank J. Dellaquila | 1,888 | <1% | As of March 28, 2025; company had 52,888,989 shares outstanding |
| Hedging/Pledging | — | — | Hedging and pledging prohibited; none of the directors/officers had such arrangements as of 12/31/24 |
| Director ownership guideline | — | — | 5× annual cash retainer; six-year compliance window; all directors compliant or on track |
Governance Assessment
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Strengths
- Independent Audit Chair with seasoned CFO background enhances financial oversight and risk management .
- Strong board process indicators: independent chair, all-independent committees, regular executive sessions, and high attendance in 2024 .
- Director pay structure balanced between cash and equity; no meeting fees; regular external benchmarking by independent consultant; ownership requirements drive alignment .
-
Potential Watch Items
- Dual audit leadership workload (Audit Chair at Reliance and at Latham Group) heightens time-commitment expectations; continued high attendance mitigates concern to date .
-
Red Flags
- None disclosed specific to Dellaquila: no related-person transactions; hedging/pledging prohibited with no arrangements reported; no options repricing or similar practices reported .
-
Investor Confidence Signals
- Say-on-pay support remained strong at ~89% in 2024, indicating broad shareholder backing for compensation governance; Board engagement covered ~16% of outstanding shares in 2024 .