Thad Hill
SERVICE CORP INTERNATIONALAbout Thad Hill
Thad Hill (age 57) is an independent director nominee to SCI’s Board in 2025. He is Executive Chairman of Calpine (2024–present) and previously served as Calpine’s CEO (2014–2024), bringing deep operating and capital allocation experience from the power sector. His profile lists committee assignments as Audit and Investment, and education as Vanderbilt University and the Tuck School at Dartmouth. He would join as a “YES” (independent) nominee in 2025, with the Board targeting increased independence to 90% post‑election .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Calpine | Chief Executive Officer | 2014–2024 | Led strategy and operations in competitive power; brings operational management and energy markets expertise to SCI . |
| Calpine | Various operational management roles | 2008–2013 | Built operating depth relevant to risk oversight and execution . |
| NRG Energy | President, NRG Texas | 2007–2008 | Regional leadership exposure; informs regulatory/market risk perspectives . |
| Texas Genco LP | EVP, Strategy & Business Development | 2005–2006 | M&A and strategic growth experience applicable to SCI capital allocation . |
| Boston Consulting Group | Partner and Managing Director | 1995–2005 | Strategy and financial analysis toolkit relevant to board oversight . |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| J.B. Hunt (public) | Director | Current | Current public company directorship; network/interlock monitoring for potential overlaps . |
| Calpine (private) | Board Member | Current | Executive Chairman role; no SCI related‑party ties disclosed . |
| Greater Houston Partnership | Member; Former Chairman | Current | Civic/market insight; governance/leadership exposure . |
| Alfred P. Sloan Foundation | Trustee | Current | Non‑profit governance . |
| Tuck MBA Advisory Board | Member | Current | Academic/leadership network . |
Board Governance
- Status and tenure: New independent nominee in 2025 (age 57; “YES” independent) .
- Committee assignments: Listed to serve on the Audit and Investment Committees (no chair role indicated) .
- Education and skills: Education listed as Vanderbilt University and Tuck School at Dartmouth; profile emphasizes energy markets, operational management, strategy, and financial analysis .
- Board independence and attendance context: In 2024, SCI’s Board had 97% full‑board attendance and each committee had at least 94% attendance; Audit/Comp/NCGC composed entirely of independent directors .
- Governance practices: Proxy access adopted; anti‑hedging and anti‑pledging policies apply to directors; clawback policy adopted; limits on director service on public company boards and audit committees .
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual cash retainer | $100,000 effective Nov 15, 2024 (paid $92,500 total for 2024 due to partial‑year increase) | Framework for non‑employee directors; new nominee would align to this structure upon election . |
| Lead Independent Director retainer | $30,000 | Additional to base retainer (not applicable to Hill unless designated) . |
| Committee Chair retainers | Audit $25,000; Compensation $20,000; Investment $15,000; NCGC $15,000 | No committee membership fees or meeting fees disclosed; chair premiums only . |
| 2024 director cash example | $92,500 cash paid to standard directors | Reflects partial‑year increase from $90k to $100k . |
Performance Compensation
| Equity Element | Target/Structure | Vesting/Performance Metrics | Notes |
|---|---|---|---|
| Annual stock grant (time‑based) | Target $190,000 per director effective Nov 15, 2024 (was $180,000 prior) | Time‑based equity; no director performance metrics disclosed | 2024 stock awards shown at ~$180,052 per director; target raised for grants after Nov 15, 2024 . |
No stock options, PSUs, or performance metrics are disclosed for non‑employee director equity; grants are based on target value, indicating time‑based alignment rather than pay‑for‑performance for directors .
Other Directorships & Interlocks
| Company | Industry Link to SCI | Potential Interlock/Conflict |
|---|---|---|
| J.B. Hunt | Logistics; no direct competitive overlap with SCI’s deathcare business | No SCI related‑party ties disclosed . |
| Calpine (private) | Power generation; routine vendor exposure possible at enterprise level | No related‑party transactions disclosed with SCI . |
Expertise & Qualifications
- Leadership and operations: Former CEO and current Executive Chairman at Calpine; strong operating and strategic execution background .
- Strategy/finance: Prior BCG partner; EVP Strategy/BD at Texas Genco; equips Audit/Investment committee oversight .
- Education: Vanderbilt University; Tuck School at Dartmouth (as listed) .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership at SCI | Thad Hill is not individually listed in SCI’s March 11, 2025 beneficial ownership table of NEOs and director nominees; no SCI share count disclosed for him in that table . |
| Director ownership guideline | Directors encouraged to hold SCI stock valued at least $500,000 within five years; 2025 minimum example equals 6,265 shares at $79.82 (Dec 31, 2024 close) . |
| Compliance snapshot | As of March 11, 2025, 100% of current directors exceeded guideline levels (new nominees not necessarily included) . |
| Hedging/pledging | Anti‑hedging and anti‑pledging policies apply to directors . |
Governance Assessment
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Positives
- Independence and committee fit: Independent nominee slated for Audit and Investment—adds seasoned operator with capital allocation and risk oversight experience .
- Board composition trend: Post‑election, Board independence expected to rise to 90%; committees remain fully independent; robust attendance .
- Shareholder‑friendly policies: Proxy access, anti‑hedging/pledging, clawback, and board service limits demonstrate governance discipline .
- Director pay structure: Market‑benchmarked with a balanced cash/equity mix; transparent chair fees; no options or performance gaming risk in director equity .
-
Watch items
- Dual commitments: Executive Chairman at Calpine and a director at J.B. Hunt; SCI’s guidelines limit overboarding, but no breach indicated—monitor time demands and Audit Committee workload .
- Ownership alignment for new nominee: Hill not listed with SCI share ownership as of the record date; monitor initial equity grant acceptance, open market purchases, and progress toward the $500,000 ownership guideline within five years .
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Conflicts/Related‑party exposure
- No related‑party transactions identified involving Hill in SCI’s 2025 proxy; disclosed related‑party items concern other directors/executives .
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Investor sentiment context
- Say‑on‑Pay support was 83.2% in 2024; ongoing shareholder engagement noted—indicates generally supportive governance environment into which Hill would join .