Alexis Michas

About Alexis P. Michas

Alexis P. Michas (age 67) is the Non‑Executive Chair of Revvity’s board and Managing Partner of Juniper Investment Company, LLC; he has served on Revvity’s board since 2001 and became Non‑Executive Chair on December 30, 2019, after serving as Lead Director . He holds a B.A. from Harvard College and an MBA from Harvard Business School, and brings private equity, M&A, and capital markets expertise; the board classifies him as independent under NYSE rules .

Past Roles

External Roles

Board Governance

• Independence and structure: The board annually evaluates independence; Michas is independent and serves as Non‑Executive Chair, separate from the CEO role, enhancing independent oversight .
• Responsibilities as Chair: Presides over board meetings, reviews/sets agendas, leads executive sessions of independent directors, and counsels the CEO and committee chairs .
• Committees and attendance: The 2024 board met six times; each director attended at least 75% of board and committee meetings, and all directors attended the 2024 annual meeting; Michas is listed as “Non‑Executive Chair” (no standing committee assignment) among nominees .
• Risk oversight and engagement: Audit oversees ERM and cybersecurity; Nominating & Corporate Governance (NCG) oversees ESG; Compensation & Benefits (C&B) monitors compensation risk; shareholders can communicate directly to the Non‑Executive Chair .

Fixed Compensation

Notes and policy context:

• Director equity program consists of (1) annual shares (immediate) and (2) RSUs vesting at the next annual meeting; 2024 grants were made May 1, 2024 .
• Board approved an increase to the standard director equity retainer to $225,000 effective April 23, 2024; Non‑Executive Chair equity retainer unchanged; no 2025 changes .

Performance Compensation

• Directors are not paid performance‑based incentives (no annual bonus, options, or performance stock); 2024 non‑employee director equity consists of time‑based shares and RSUs only .

Other Directorships & Interlocks

• Current public boards: BorgWarner (Non‑Executive Chairman), AstroNova (Director) .
• Board service policy: Revvity limits directors to no more than three other public company boards (CEO: one), subject to NCG Chair approval; Michas appears within policy (two other public boards) .
• No competitor/supplier/customer interlocks disclosed for Michas in the proxy sections reviewed .

Expertise & Qualifications

• Skills: Private equity investing, capital markets, M&A, IPOs, debt/equity offerings, bank financing; corporate governance experience including service as board chair, lead director, and membership on compensation, governance, audit, finance, and executive committees at other companies .
• Education: B.A., Harvard College; MBA, Harvard Business School .

Equity Ownership

• Director ownership guidelines: 5x annual cash retainer ($450,000 for FY2024); as of Feb 14, 2025, all directors were in compliance .
• Trading/hedging/pledging policies: Directors and employees are prohibited from short sales, options/derivatives, and hedging; the policy explicitly prohibits pledging by officers; the excerpt does not explicitly extend the pledge prohibition to directors .

Governance Assessment

• Positives for investor confidence:

  • Independent board chair with deep capital markets and M&A expertise; clear separation of Chair/CEO roles and robust independent director executive sessions .
  • Strong attendance and engagement: all directors met ≥75% attendance and attended the annual meeting in 2024 .
  • Pay structure for directors emphasizes equity and ownership; compliance with stringent 5x retainer ownership guidelines across the board .
  • Shareholder support: 95.7% approval on 2024 say‑on‑pay; ongoing outreach to top investors .
  • Independent C&B consultant (Pearl Meyer) with no conflicts in 2024; committee operates executive sessions without management .

• Watch items / potential conflicts:

  • Multiple external roles (including Non‑Executive Chairman at BorgWarner and Managing Partner at Juniper Investment Company) require ongoing monitoring for related‑party exposure; the NCG committee oversees a formal related‑party transactions policy and approval process; the reviewed sections describe policy but do not list specific transactions .
  • Securities Trading Policy explicitly prohibits pledging for officers and hedging for directors and employees; the pledge prohibition is not explicitly stated for directors in the excerpt, which investors may wish to clarify with the company .

• Compensation structure observations:

  • No performance‑based elements in director pay (time‑based equity), aligning with standard U.S. practice; 2024 increased equity retainer for standard directors from $200k to $225k (Chair unchanged), modestly shifting mix toward equity without increasing cash .
  • No director stock options outstanding as of year‑end 2024, removing repricing risk and option‑related incentives .

• Board effectiveness:

  • Clear articulation of Chair responsibilities and committee oversight roles; ERM and cybersecurity oversight anchored in the Audit Committee; ESG oversight via NCG; compensation risk review by C&B .

RED FLAGS: None material disclosed for Michas in the proxy sections reviewed. Key policies (hedging ban, related‑party oversight) and strong say‑on‑pay support mitigate governance risk; clarify director‑specific pledge policy as a prudent follow‑up .

Sources: Revvity 2025 DEF 14A (filed 2025-03-12)