Lisa L. Baldwin
RELIANCEAbout Lisa L. Baldwin
Independent director of Reliance, Inc. since October 2019; age 56. Managing Director at Elliott Management (since 2022) focusing on M&A and operational improvements; former CIO of Tiffany & Co. (2013–2021) with prior leadership roles at Coach, IBM, and PwC. Sits on RS’s Audit and Nominating & Governance Committees; recognized for cybersecurity oversight with NACD CyberRisk certificate from Carnegie Mellon SEI. The Board has determined she is independent under NYSE rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Elliott Management | Managing Director (M&A, portfolio ops) | 2022–present | Activates M&A/ops insights relevant to RS oversight |
| Tiffany & Co. | Chief Information Officer | 2013–2021 | Enterprise IT leadership; cyber and internal controls exposure |
| Tiffany & Co. | VP, Strategic Services | 2011–2013 | Strategy/IT integration |
| Coach Inc. | VP, Information Services | 2008–2011 | IT operations leadership |
| IBM | IT Consultant, Retail Practice | 1997–2008 | Systems, data, cybersecurity practices |
| PwC | Consultant | Early career | Process, controls, risk |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| Elliott Management | Managing Director | Private | Focus on M&A and operational improvements |
| Other public company boards | — | — | None disclosed for Baldwin in RS proxy |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Board determined Baldwin is independent under NYSE standards |
| Committees | Audit; Nominating & Governance (member; not chair) |
| Committee activity | Audit Committee met 9 times in 2024 (signals active oversight) |
| Attendance | All current directors attended ≥90% of Board and committee meetings in 2024 |
| Executive sessions | Non-management directors meet regularly in executive sessions led by independent, non-exec Chair |
| Board leadership | Independent, non-executive Chair structure effective Jan 2025 |
| Tenure on RS Board | Director since October 2019 |
Fixed Compensation (Director Pay – 2024)
| Component | Amount |
|---|---|
| Annual cash retainer | $140,000 |
| Committee chair fees | $0 for Baldwin (Audit Chair $25k; Comp Chair $20k; N&G Chair $20k paid to respective chairs) |
| Non-executive Chair retainer | Not applicable to Baldwin ($150,000 paid to the Chair) |
| Meeting fees | None (no per-meeting fees) |
Performance Compensation (Director Equity – 2024)
| Grant Type | Grant Date | Shares/Units | Grant-Date Fair Value | Vesting/Terms |
|---|---|---|---|---|
| Stock award | May 15, 2024 | 506 shares | $150,059 (at $296.56/sh) | Fully vested at grant; annual equity retainer |
RS director equity retains alignment through stock awards; no options, no performance metrics or variable targets are applied to director compensation per proxy disclosures.
Other Directorships & Interlocks
| Topic | Detail |
|---|---|
| Current public boards | None disclosed for Baldwin |
| Compensation Committee interlocks | Company discloses no interlocks; Baldwin is not on the Compensation Committee |
Expertise & Qualifications
- IT/cybersecurity: CIO experience; NACD CyberRisk Oversight certificate (Carnegie Mellon SEI).
- Risk management and internal controls; information technology modernization.
- M&A and operational improvement expertise via Elliott role.
Equity Ownership (Alignment)
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Lisa L. Baldwin | 4,092 | <1% | As of March 28, 2025 |
| Director ownership guidelines | 5x annual cash retainer; six years to comply | — | Company states all directors are in compliance or on track within six years |
| Hedging/pledging policy | Prohibited for directors and officers | — | Enhances alignment with shareholders |
Potential Conflicts & Related-Party Exposure
- Employment affiliations: Baldwin is a Managing Director at Elliott Management. The Board’s independence review did not identify any material relationships involving Baldwin; she is classified as independent. Related-person transactions disclosed in 2024 did not involve Baldwin. RS policies require disclosure and recusal for conflicts, with Audit Committee review of related-person transactions.
- Pledging/hedging: Prohibited for directors, reducing misalignment risk.
Governance Assessment
- Strengths
- Independent director with cyber, IT, and controls expertise serving on Audit and Nominating & Governance—skills directly relevant to oversight of financial reporting, cyber risk, and board composition.
- Strong engagement indicated by ≥90% attendance and an active Audit Committee calendar.
- Pay structure aligns with best practices: cash retainer plus fully vested stock; ownership guidelines of 5x retainer; no meeting fees; hedging/pledging prohibited.
- Board-wide governance enhancements: independent, non-executive Chair and regular executive sessions.
- Watch items
- Elliott Management affiliation warrants routine conflict screening if Elliott were to have matters before the Board; RS policies mandate disclosure and recusal and the Board affirmed independence. No related-party transactions involving Baldwin were reported.
2024 Director Compensation (Baldwin): $290,059 total ($140,000 cash; $150,059 stock award of 506 shares; fully vested).