Susan Kreh
About Susan Kreh
Independent Class III director (age 63) serving on SLDP’s board since 2023; currently Audit Committee Chair and designated audit committee financial expert, with a career spanning CFO/CIO roles and senior finance positions in automotive and industrials . Education: B.B.A.s in Accounting and Analysis & Design of Business Information Systems (University of Wisconsin–Madison) and M.B.A. (Duquesne University) . The board has affirmed her independence under Nasdaq/SEC rules; SLDP’s board held four meetings in 2024 and each director attended at least 75% of board and committee meetings; all directors attended the 2024 annual meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Oil-Dri Corporation of America | Chief Financial Officer and Chief Information Officer | 2018–present | Finance and IT leadership; relevant to audit/financial and cybersecurity oversight |
| Johnson Controls International plc (Power Solutions) | Chief Financial Officer and VP, Information Technology | 2010–2018 | Automotive industry finance/IT experience; strategic planning |
| Johnson Controls International plc | VP, Corporate Controller and Chief Accounting Officer | 2007–2010 | Financial reporting and controls; audit committee-relevant expertise |
| PPG Industries, Inc. | Treasurer | 2002–2007 | Capital markets, liquidity, risk management |
External Roles
| Organization | Role | Tenure | Public Company Board? |
|---|---|---|---|
| Oil-Dri Corporation of America | CFO & CIO | 2018–present | Not disclosed in SLDP proxy as a directorship |
Board Governance
- Committees: Audit (Chair; financial expert); other standing committees are Governance & Corporate Responsibility and Human Resources & Compensation, but Kreh is disclosed specifically on the Audit Committee .
- Independence: Board determined all directors other than Feurer and Van Scoter are independent; Kreh qualifies as independent .
- Attendance/Engagement: Board met 4 times in 2024; each director attended ≥75% of board and relevant committee meetings; all directors attended 2024 annual meeting .
- Skills matrix: Audit/Financial; Automotive Industry; Information Technology/Cybersecurity; International Operations; Manufacturing & Operations; M&A/Strategic Planning .
- Risk oversight linkages: Audit Committee oversight includes financial reporting/internal controls, cybersecurity, enterprise risk management, and independent auditor relationships .
Fixed Compensation
| Year | Cash Retainer ($) | Committee Chair Fees ($) | Committee Member Fees ($) | Total Fees Earned ($) |
|---|---|---|---|---|
| 2024 | 50,000 | 20,000 (Audit Chair) | — (chairs do not receive member fee) | 70,000 |
Notes:
- Outside Director cash fee schedule: Audit Chair $20,000; Audit Member $10,000; Governance Chair $15,000; Governance Member $7,500; HRC Chair $15,000; HRC Member $7,500. Non-executive Chairperson/Lead Independent Director receives an additional $40,000; annual cash retainer for outside directors is $50,000; fees paid quarterly in arrears .
Performance Compensation
| Element | Grant Date | Grant Value/Fair Value ($) | Instrument | Vesting Schedule | Performance Metrics |
|---|---|---|---|---|---|
| Annual RSU Award | May 22, 2024 | 139,197 (aggregate grant date fair value) | RSUs | Vests on earlier of 1-year anniversary or day before next annual meeting, subject to service | None disclosed (time-based) |
| Policy Annual RSU Award | Annual meeting date | 145,000 (policy Grant Value) | RSUs | As above | None (policy-based) |
| Policy Initial RSU Award (upon becoming outside director) | Appointment date | 250,000 (policy Grant Value) | RSUs | 12 equal quarterly installments over 3 years, subject to service | None (policy-based) |
Additional terms:
- Change-in-control: Outside directors’ outstanding awards fully vest immediately prior to a change in control, subject to continuous service through the date of change in control .
- Clawback/recovery policy administration resides with the HRC committee (company-wide incentive recovery policy; director equity is time-based) .
Other Directorships & Interlocks
- Other public company boards for Kreh: Not disclosed in SLDP 2025 proxy .
- Compensation committee interlocks: Company discloses none during 2024; no directors on HRC committee served as SLDP officers; no reciprocal interlocks involving SLDP executives on other boards’ compensation committees .
Expertise & Qualifications
- Finance and IT dual-executive experience (CFO/CIO), including automotive sector tenure; designated audit committee financial expert .
- Skills matrix marks: Audit/Financial; Automotive; IT/Cybersecurity; International Operations; Manufacturing & Operations; M&A/Strategic Planning .
- Education: Two B.B.A.s (Accounting; Analysis & Design of Business Information Systems), M.B.A. .
Equity Ownership
| As of | Total Beneficial Ownership (shares) | Ownership % of Outstanding | Composition Details |
|---|---|---|---|
| Mar 24, 2025 | 153,241 | ~0.084% (153,241 ÷ 182,258,205) | 62,017 RSUs vested but unsettled; 91,224 RSUs scheduled to vest within 60 days |
Outstanding director equity (Dec 31, 2024):
| Instrument | Vested (#) | Unvested (#) | Options (Exercisable/Unexercisable) |
|---|---|---|---|
| RSUs | 53,157 | 135,523 | — / — |
Ownership alignment policies:
- Stock ownership guidelines: Covered directors must hold ≥5× annual cash retainer; required to retain ≥50% of net profit shares until guideline met; compliance/on-track status as of Dec 31, 2024 .
- Hedging and pledging: Prohibited for directors, officers, and employees per Insider Trading Policy .
Governance Assessment
- Positive signals: Independent director; Audit Committee Chair and financial expert; strong finance/IT background mapped to cybersecurity and financial reporting risk oversight; adherence to ownership guidelines with retention requirements; prohibition of hedging/pledging; time-based equity, annual self-evaluations, and use of independent compensation consultant (Compensia) .
- Compensation structure: Balanced cash ($70,000 in 2024) and annual RSU grants (accounting fair value $139,197 in 2024), within plan limits ($500,000 annual cap; $750,000 in initial year) and with transparent vesting; no meeting fees disclosed; change-in-control protection is standard acceleration immediately prior to a change-in-control .
- Conflicts/related-party exposure: No Kreh-specific related party transactions disclosed; Audit Committee (chaired by Kreh) reviewed and approved transactions with BMW and Ford under the Related Person Transaction Policy—indicates formal oversight and approvals .
- Attendance and engagement: Board met 4 times; each director met ≥75% threshold and attended the annual meeting—acceptable engagement baseline .
RED FLAGS
- None disclosed specific to Kreh (no pledging/hedging; no related-party ties; standard director compensation and equity vesting; independent status affirmed) .