Victor Lund
SERVICE CORP INTERNATIONALAbout Victor Lund
Victor L. Lund (age 77) is an independent director at Service Corporation International (SCI), serving since 2000. He holds an MBA from The University of Utah and brings deep technology, finance, and audit expertise, including prior work as an auditor at Ernst & Ernst (now Ernst & Young) and senior executive roles across major retailers and technology firms .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Teradata Corporation | Executive Chairman; Interim CEO; President & CEO | Executive Chairman 2019–2020; Interim CEO 2019–2020; President & CEO 2016–2018 | Led enterprise analytics company, strategic and operational oversight |
| DemandTec (software) | Chairman | 2006–2012 | Retail pricing/analytics domain leadership |
| Mariner Healthcare | Chairman | 2002–2004 | Healthcare governance |
| Albertsons, Inc. | Vice Chairman | 1999–2002 | Retail operations and capital allocation |
| American Stores Company | Chairman, CEO, CFO, Corporate Controller | 1977–1999 | Broad finance/operations leadership in retail |
| Ernst & Ernst (auditor) | Audit CPA | 1972–1977 | Financial reporting and audit practices |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Current public company boards | — | — | None |
| Past public company boards | Director/Chair roles across Teradata, DemandTec, Delta Air Lines, Del Monte Foods, Mariner Healthcare, Albertsons, American Stores, NCR | Various | Demonstrates broad governance experience across tech, retail, airlines, food |
Board Governance
- Independence: Independent director; 9 of 10 directors are independent; expected to be 90% independent post-2025 meeting .
- Committee memberships: Audit; Executive; Nominating & Corporate Governance (NCGC). Not a committee chair .
- Attendance and engagement:
- Board: 6 meetings in 2024; 97% combined attendance .
- Audit Committee: 8 meetings; 94% attendance; members designated “Financial Experts” under SEC rules .
- NCGC: 4 meetings; 100% attendance .
- Executive Committee: No meetings in 2024 .
- Executive sessions: Held after every regular board meeting; chaired by Lead Independent Director .
- Lead Independent Director framework strengthened (authority to call meetings, preside in Chair’s absence) .
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Cash retainer | $92,500 | Annual board cash retainer increased to $100,000 effective Nov 15, 2024; $92,500 reflects partial-year increase |
| Committee chair fees | $0 | Not a chair; chair fees: Audit $25k; Compensation $20k; Investment $15k; NCGC $15k; Lead Independent $30k |
| Meeting fees | $0 | Not disclosed (no per-meeting fees) |
| Stock awards (target) | $180,052 | Annual director equity grant; target increased to $190,000 effective Nov 15, 2024 |
| Total (2024) | $272,552 | Sum of cash and stock awards |
Performance Compensation
- SCI does not disclose any performance-conditioned compensation for non-employee directors; annual equity grants are time-based stock awards (no director PSUs/options tied to metrics) .
- For context, SCI’s NEO incentive metrics (not applicable to directors) were: Normalized EPS, Normalized Free Cash Flow per Share, Comparable Preneed Production, and a customer satisfaction modifier (Google stars). 2024 payout was 72% of target .
| 2024 Performance Measure (NEOs) | Threshold | Target | Max | Actual | Payout % |
|---|---|---|---|---|---|
| Normalized EPS | $3.45 | $3.65 | $3.85 | $3.48 | 15% |
| Normalized FCF per Share | $3.91 | $4.11 | $4.31 | $4.40 | 200% |
| Comparable Preneed Production | 100.0% | 102.5% | 105.0% | 98.8% | 0% |
| Customer satisfaction modifier | Target 4.25 | — | — | 4.65 | No downward mod |
Other Directorships & Interlocks
- Current public boards: None (reduces external time commitments risk) .
- Committee interlocks: Compensation Committee disclosed no interlocks/insider participation in 2024; Lund was not a member of Compensation Committee .
- Related-party transactions: No Lund-specific related-party transactions disclosed; 2024 related-party items involved other individuals (Buckwalter, Waring family) .
Expertise & Qualifications
- Technology and operational processes expertise; former CEO/Chair in enterprise analytics and retail .
- Financial reporting and audit proficiency; former auditor; Audit Committee member; designated “Financial Expert” status applies to all Audit members .
- Cybersecurity risk oversight experience (board skills matrix flags Lund with cybersecurity oversight background) .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (shares) | 209,120 shares; less than 1% of class |
| Ownership guideline | Directors encouraged to hold ≥$500,000 in SCI stock within 5 years; 2025 minimum 6,265 shares based on $79.82 closing price at 12/31/2024 |
| Guideline compliance | 100% of directors exceeded guideline levels as of March 11, 2025 |
| Hedging/pledging | Prohibited for directors and officers (alignment-positive) |
Governance Assessment
- Strengths:
- Longstanding independent director with deep audit/finance credentials and relevant technology/operations experience; active on Audit and NCGC (committees with core risk and ESG oversight) .
- Strong alignment: meaningful share ownership; anti-hedging/anti-pledging policy; directors meeting elevated ownership guideline; modest, market-based director pay structure blending cash and equity .
- Board effectiveness signals: robust attendance (Board 97%, committees ≥94%), formal executive sessions, refreshed leadership (Lead Independent Director authority, committee chairs), and shareholder-friendly practices (majority voting, proxy access, clawback) .
- Watch items:
- Tenure/refresh: Lund’s 25-year tenure may raise refreshment considerations; mitigated by recent board refresh and committee leadership changes elsewhere on Board .
- Filing compliance: one late Form 4 for Lund due to an inadvertent sale date mismatch; minor administrative lapse but noteworthy for compliance monitoring .
- No disclosed conflicts: No related-party transactions or compensation consultant conflicts tied to Lund; no pledging/hedging; no current external public board overload per 2024/2025 proxy .
Overall, Lund’s audit acumen and operational tech experience are positives for board risk oversight and financial stewardship; his significant shareholding supports investor alignment. Tenure warrants continued succession planning focus, but the board’s documented refresh and governance enhancements help offset concerns .