Jørgen Vig Knudstorp
STARBUCKSAbout Jørgen Vig Knudstorp
Independent director since 2017 (age 56), lead independent director-elect effective upon reelection at the 2025 Annual Meeting. Former CEO of LEGO Group (2004–2016) and Executive Chairman of LEGO Brand Group (2017–2023); currently Chair of BrainPOP and KIRKBI Education and Deputy Chair of LEGO Foundation. Audit Committee financial expert; brings global brand, strategy, human capital, and international operations expertise.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LEGO Group | President & Chief Executive Officer | 2004–2016 | Led turnaround and global brand scaling; innovation and capital allocation experience |
| LEGO Brand Group | Executive Chairman | 2017–2023 | Brand stewardship; strategic alliances |
| KIRKBI Group (LEGO Brand Owner Family) | Special Partner | 2023–2024 | Brand/business development for holding company |
| McKinsey & Company | Management Consultant | 1998–2001 | Strategy and organizational work |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| BrainPOP | Chair | Current | Education technology; children’s learning |
| KIRKBI Education & Learning | Chair | Current | Education initiatives |
| LEGO Foundation | Deputy Chair | Current | Sustainability and social impact focus |
| Other public company boards (last 5 years) | — | None | No other public boards disclosed |
Board Governance
- Lead Independent Director-elect; duties include approving board agendas/materials, presiding executive sessions, shareholder liaison, and facilitating information flow and independent director dialogue. Annual appointment clarified in Nov 2024 governance updates; lead independent director designated as primary shareholder contact.
- Committee assignments: Chair, Nominating & Corporate Governance; Member, Audit & Compliance; Member, Environmental, Partner & Community Impact.
- Audit Committee financial expert designation under SEC rules.
- Independence: Board determined he is independent under Nasdaq rules; directors other than the CEO deemed independent for FY2024.
- Attendance: Board held 16 meetings in FY2024; each incumbent director attended at least 75% of board and assigned committee meetings. Executive sessions held at each regular board meeting.
| Committee | Role | FY2024 Meetings |
|---|---|---|
| Nominating & Corporate Governance | Chair | 7 |
| Audit & Compliance | Member | 10 |
| Environmental, Partner & Community Impact | Member | 6 |
Fixed Compensation (Director)
| Component (2024 Plan Year) | Amount | Structure |
|---|---|---|
| Annual retainer | $130,000 | Cash or fully-vested RSUs, at director’s election |
| Equity award | $180,000 | Fully-vested RSUs (fixed value, immediate vest) |
| Committee chair retainer (Nominating/Gov.) | $20,000 | Cash or RSUs; only chairs receive additional fees |
| Lead Independent Director retainer | $185,000 | Cash or RSUs (not applicable to him in FY2024) |
| FY2024 Director Compensation (Knudstorp) | Cash | Stock Awards | Total |
|---|---|---|---|
| Reported | — | $329,979 | $329,979 |
- Directors do not receive performance-based equity; compensation emphasizes equity and ownership alignment.
Performance Compensation (Director)
- Not applicable: non-employee directors do not receive performance-based equity awards or bonus metrics.
Other Directorships & Interlocks
| Company | Relationship | Potential Conflict |
|---|---|---|
| None (public company boards last 5 years) | — | None disclosed |
Expertise & Qualifications
- Skills matrix and biography highlight brand marketing, CSR, environmental/climate, financial/capital allocation, industry (consumer products/retail/food & beverage), international operations, senior leadership, and public company board experience.
- Audit Committee financial expertise supports effective oversight of financial reporting and risk.
Equity Ownership
| Holding Type | Amount | Notes |
|---|---|---|
| Common shares | 18,380 | Direct ownership |
| Stock options (exercisable ≤60 days) | 49,289 | Vested legacy options |
| Deferred stock units | 17,968.638 | Non-employee director deferral program |
| Total beneficial ownership | 85,637.638 | <1% of class |
| Pledged shares | 0 | Pledging prohibited; none pledged by directors/officers |
| Ownership guideline | 5× annual retainer ($650,000) | All non-employee directors in compliance or on track |
Insider Trades and Filings
| Item | Date | Note |
|---|---|---|
| Form 4 (purchase) – late filing | Due 2024-09-10; filed 2024-09-17 | One-week late Section 16(a) filing disclosed |
Governance Assessment
- Strengths: Independence, pending Lead Independent Director role with robust responsibilities; chair of Nominating/Governance driving board composition and processes; Audit Committee financial expert; no related-party transactions or pledging; compensation tilted to equity with immediate vesting enhancing alignment; compliance with ownership guidelines.
- Engagement: Board-level outreach strong; independent directors (including lead independent) participated in investor meetings; lead independent director clarified as primary shareholder contact in 2024 updates.
- Attendance: Board-wide ≥75% attendance; committee meetings cadence underscores engagement (A:10, N/G:7, Impact:6).
- Red flags: Minor late Section 16 filing in Sept 2024 (administrative). No related-party exposures or hedging/pledging concerns disclosed.