Kristy Pipes
About Kristy Pipes
Kristy Pipes (age 66) is an independent Class III director at Savers Value Village (SVV), serving since July 2021. She is a former Managing Director and Chief Financial Officer of Deloitte Consulting, where she sat on the firm’s Management Committee and Consulting Operations Committee; earlier roles include Vice President and Manager of the Finance Division at Transamerica Life Companies and Senior Vice President and Chief of Staff to the CEO at First Interstate Bank of California. She currently serves on public company boards at AECOM (since Oct 2022), ExlService Holdings (since Jan 2021), and the board of trustees of Public Storage (since Oct 2020) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte Consulting | Managing Director & Chief Financial Officer | Through April 2019; joined 1999 | Member of Management Committee and Consulting Operations Committee |
| Transamerica Life Companies | Vice President & Manager, Finance Division | Prior to 1999 | Finance leadership |
| First Interstate Bank of California | Senior Vice President; Chief of Staff to the CEO; other senior management roles | Prior to Transamerica | Senior management responsibilities |
External Roles
| Company | Role | Start Date | Committees/Notes |
|---|---|---|---|
| AECOM | Director | Oct 2022 | Not disclosed in SVV proxy |
| ExlService Holdings, Inc. | Director | Jan 2021 | Not disclosed in SVV proxy |
| Public Storage | Board of Trustees | Oct 2020 | Not disclosed in SVV proxy |
Board Governance
- Committee assignments: Member, Nominating, Governance & Sustainability Committee; no Audit or Compensation Committee membership .
- Independence: Board affirmatively determined Ms. Pipes is independent under NYSE rules .
- Attendance and engagement: In fiscal 2024, Board met 5 times; each standard committee met 4 times; all directors attended at least 75% of meetings for boards/committees served, and all directors attended the annual stockholders’ meeting .
- Controlled company context: SVV is a “controlled company” under NYSE rules due to Ares ownership, using exemptions that can result in committees not being entirely independent (Audit Committee remains fully independent) .
- Overboarding guideline: SVV’s guidelines generally cap directors at three other public company boards; Ms. Pipes holds three, within policy .
Fixed Compensation
| Component | Policy | Fiscal 2024 Amount (Pipes) |
|---|---|---|
| Annual cash retainer | $80,000 (paid quarterly) | $80,000 (Fees Earned) |
| Committee chair retainers | Audit Chair $25,000; Compensation Chair $15,000; NGS Chair $12,000 | N/A (not a chair) |
| Meeting fees | None disclosed | N/A |
Performance Compensation
| Equity Instrument | Grant Policy | Fiscal 2024 Grant Detail (Pipes) | Vesting |
|---|---|---|---|
| RSUs (annual equity retainer) | $130,000 in time-based RSUs; vest on earlier of 1-year from grant or next annual meeting; deferral election allowed | Stock awards (grant-date fair value): $129,987; 9,433 RSUs outstanding at FY-end; grant-date closing price $13.78 per RSU; Pipes elected to defer settlement until separation from Board | Time-based per director policy |
| Stock options (director) | No new director option grants in FY 2024 | Outstanding director options as of FY 2024: 64,910 options (aggregate count for Pipes) | 2023 director grant (Pipes): 15,219 options vest in 5 equal annual installments from Feb 7, 2024 to Feb 7, 2028 |
Performance metrics tied to director compensation:
| Metric | Applicability | Notes |
|---|---|---|
| None disclosed for directors | N/A | Director RSUs are time-based; no performance metrics disclosed |
Other Directorships & Interlocks
| Area | Detail |
|---|---|
| Current public boards | AECOM (director), ExlService Holdings (director), Public Storage (trustee) |
| Interlocks | SVV discloses no compensation committee interlocks involving current executive officers; Duane Woods is the only Compensation Committee member with prior officer history at SVV; no interlock issues flagged for Pipes |
| Audit committee overload check | Audit members should not serve on >2 other audit committees per SVV guidelines; Pipes is not on SVV’s Audit Committee; committee roles at external boards not disclosed in SVV proxy |
Expertise & Qualifications
- Financial leadership: Former CFO of Deloitte Consulting, with finance function oversight and committee participation .
- Strategic planning & growth; senior executive service; other public board service: Board skills matrix indicates these areas for Pipes .
Equity Ownership
| Item | Amount | As-of Date | Notes |
|---|---|---|---|
| Total beneficial ownership (shares) | 49,419 | March 31, 2025 | Includes 42,197 shares via options exercisable within 60 days; <1% of class |
| RSUs outstanding | 9,433 | FY 2024 year-end | Director RSUs; deferral election to separation |
| Options outstanding (director) | 64,910 | FY 2024 year-end | Aggregate outstanding director options |
| Ownership guidelines | 5x annual cash retainer; 5-year grace period; counts unvested RSUs, excludes unexercised options/performance awards | ||
| Hedging/pledging | Prohibited for directors and executives |
Governance Assessment
- Strengths: Independent director with deep CFO experience and governance committee service; high attendance expectations met across Board/committees; strong ownership alignment via director RSUs and 5x retainer ownership guideline; hedging/pledging prohibited .
- Watch items: Controlled company status under Ares may reduce committee independence and require Ares consent for certain major actions; Pipes holds the maximum number of other public boards permitted by SVV guideline (three), which warrants ongoing monitoring for time commitments as company scales .
- Conflicts/related party exposure: No related-party transactions involving Pipes disclosed; Audit Committee oversees related-party approval; no compensation committee interlocks flagged for Pipes .
RED FLAGS
- Controlled company exemptions (Audit remains independent; other committees may include non-independent members) can affect perceived board independence and investor protections .
- Maximum external board service within SVV guidelines (three other public boards) suggests potential time-availability risk if responsibilities expand; monitor engagement metrics and committee workloads .