Alan P. Krusi
SSR MININGAbout Alan P. Krusi
Alan P. Krusi (age 70) is an independent director of SSR Mining, serving since 2020, with nearly four decades of management experience across engineering and construction, including CEO of Earth Tech (2002–2008) and President, Strategic Development at AECOM (2008–2015). He chairs SSR Mining’s Technical, Safety and Sustainability (TSS) Committee and sits on the Corporate Governance & Nominating Committee; he also serves on the board of Granite Construction (since 2018). Education details are not disclosed in the proxy.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| SSR Mining (via Alacer Gold) | Director at Alacer Gold; joined SSR Mining board at merger | Alacer: Sep 2014–Sep 2020; SSRM: Sep 2020–present | Governance and sustainability oversight through TSS chair role |
| Earth Tech, Inc. | Chief Executive Officer | 2002–2008 | Led global water/environmental services across 13 countries |
| AECOM | President, Strategic Development; Executive Committee member | 2008–2015 | Oversaw firm’s M&A and strategic initiatives |
| Dames & Moore | Project Geologist/Engineer (Latin America, Asia) | 1977–1983 | International technical project leadership |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Granite Construction, Inc. | Director | Since 2018 | Interlock: SSRM director Laura Mullen also serves on Granite and chairs its Audit Committee |
Board Governance
- Committee assignments and roles:
- Chair, Technical, Safety and Sustainability Committee; Member, Corporate Governance & Nominating Committee
- Independence: Independent; all Board committees are comprised entirely of independent directors
- Attendance and engagement:
- Board: 28/28; TSS: 8/9; Governance: 4/4; Overall: 98% (Board held 28 meetings in 2024, majority related to the Çöpler incident)
- Shareholder support: 2024 election results — For 98.37%, Withheld 1.63%
- Lead Independent Director and executive sessions: SSR Mining maintains robust independent oversight via a Lead Independent Director and regular executive sessions of independent directors
Fixed Compensation
| Component (2024) | Amount (USD) | Detail |
|---|---|---|
| Annual cash retainer | $100,000 | Non-executive director cash retainer |
| Committee chair fee (TSS) | $25,000 | Chair fee level for Audit and TSS Committees |
| Equity retainer (DSUs) | $110,000 (grant date fair value) | Granted in four equal quarterly installments |
| Total 2024 director compensation | $235,000 | Fees $125,000; DSUs $110,000 |
| DSUs held (12/31/2024) | 111,060 units | Aggregate DSUs outstanding |
- Structure: Directors receive cash and DSU retainers; no option grants for directors; DSUs may be elected in lieu of cash retainer in part/all at director’s discretion .
Performance Compensation
| Element | Structure | Metrics | Vesting/Payout |
|---|---|---|---|
| DSUs | Annual equity retainer in DSUs; quarterly grants | No director performance metrics disclosed for DSU grants (director pay is not performance-based) | Paid in cash upon separation from the Board; dividend equivalents accrue |
| Stock options | Not used | N/A | N/A |
| Performance conditions | Not applicable for director DSUs | N/A | N/A |
The company states it does not grant options and maintains robust clawback and anti-hedging policies; clawback applies to executive performance-based pay, not to non-executive director retainers.
Other Directorships & Interlocks
| Company | Sector Relationship to SSRM | Interlock/Exposure |
|---|---|---|
| Granite Construction | Construction; not a disclosed SSRM supplier/customer | Interlock via SSRM director Laura Mullen (Granite director and Audit Chair) |
- No related-party transactions involving Mr. Krusi are disclosed; related party transactions require Audit Committee or disinterested Board review.
Expertise & Qualifications
- Risk management; mergers & acquisitions; environmental, health, safety & sustainability; human capital; IT & cybersecurity; governance — as identified in SSRM’s skills matrix .
- Deep operational and project background across global industrial and infrastructure businesses, with oversight of M&A and strategic development at AECOM and multi-country operational leadership at Earth Tech.
Equity Ownership
| Item (as of 12/31/2024) | Value/Count | Notes |
|---|---|---|
| Common shares | 25,091 | Direct beneficial ownership |
| DSUs | 111,060 | DSU units recorded |
| Total shares + DSUs | 136,151 | Sum of common + DSUs |
| Market value (assumed $6.96/sh) | $947,611 | Uses NASDAQ close on 12/31/2024 (footnote (1)) |
| Ownership guideline | 3x cash retainer ($375,000) | Guideline over 5 years |
| Compliance status | In compliance | Meets guideline threshold |
- Anti-hedging policy prohibits directors from hedging or derivative trading in Company securities.
Governance Assessment
- Committee leadership and oversight: As TSS Committee Chair, Krusi is directly involved in safety, environmental, and sustainability oversight during a year where SSR Mining faced serious incidents (Çöpler slip and fatalities), with high Board engagement and site visits; attendance was strong (98%), supporting board effectiveness in crisis oversight.
- Independence and engagement: Independent director, full Board and committee attendance, strong shareholder support in 2024 (98.37% For), and compliance with ownership guidelines, indicating alignment with shareholder interests.
- Compensation alignment: Director pay is balanced cash/equity via DSUs, with no options and anti-hedging; DSUs paid on board exit, reinforcing long-term alignment. No performance metrics tied to director compensation, reducing risk of misaligned incentives.
- Potential conflicts and RED FLAGS:
- Interlock: Shared Granite Construction board with SSRM director Laura Mullen; sector adjacency rather than direct supplier/customer disclosed — monitor for any transactions requiring recusal.
- Bankruptcy history: Krusi served as a director of Blue Earth when it filed for bankruptcy (March 2016) — historical risk indicator; no sanctions disclosed.
- Policy safeguards: Robust insider trading and anti-hedging policies; formal procedures for related-party transactions; annual independence assessments; executive sessions led by the Lead Independent Director.