Jill Timm
MOLSON COORS BEVERAGEAbout Jill Timm
Independent Class A director of Molson Coors since 2023; age 51. She is CFO of Kohl’s Corporation and brings over two decades of financial leadership in strategic planning, risk management, accounting, and reporting, with prior audit experience at Arthur Andersen. Committee assignments: Audit, Technology Subcommittee, and Finance; the Board has determined she is independent under NYSE standards and the company’s charter.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kohl’s Corporation (NYSE: KSS) | Chief Financial Officer | 2019–Present | Public company CFO; capital allocation, risk, reporting expertise |
| Kohl’s Corporation | EVP Finance; SVP Finance; VP Finance; various roles | 2008–2019; 1999–2008 | Progressively senior finance leadership |
| Arthur Andersen LLP | Senior Auditor | 1995–1999 | Foundational audit and accounting experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed |
Board Governance
- Independence: Listed among independent directors under NYSE rules and company charter.
- Audit Committee financial expert: Board determined Jill Timm qualifies as an “audit committee financial expert” under SEC rules.
- Committee memberships and meeting cadence:
- Audit Committee (8 meetings in 2024)
- Technology Subcommittee of Audit (2 meetings in 2024)
- Finance Committee (5 meetings in 2024)
- Board effectiveness and engagement: Third-party Board effectiveness assessment in 2024–2025; regular executive sessions of independent directors chaired by the Independent Governance Committee Member; robust stockholder engagement.
- Attendance: Board held nine meetings in 2024; all directors attended at least 75% of Board and committee meetings, with aggregate Board attendance of at least 94%.
Fixed Compensation
| Component | 2024 Terms | Amount (USD) | Notes |
|---|---|---|---|
| Annual cash retainer | Base retainer for all directors | $105,000 | Timm elected 100% cash for retainer |
| Annual RSU grant | 2,873 RSUs at $57.45 grant-date fair value | $165,054 | Grant date May 16, 2024; cliff vests May 16, 2027 or upon Board retirement; dividend equivalents paid in cash at vesting |
| Total annual director compensation | Cash + RSUs | $270,054 | No committee chair premiums applicable to Timm |
Performance Compensation
| Element | Presence | Terms | Notes |
|---|---|---|---|
| Performance Share Units (PSUs) | Not used for directors | — | Director equity is time-based RSUs; no performance metrics apply to director awards |
| Stock Options | Not used for directors | — | Outstanding director equity consists of RSUs/DSUs only |
| RSU vesting & dividends | Yes | Cliff vest May 16, 2027 or upon retirement; dividend equivalents paid in cash at vesting | Applies to 2024 director grants |
Other Directorships & Interlocks
| Company | Relationship | Potential Interlock/Conflict |
|---|---|---|
| Kohl’s Corporation | CFO (management role, not a board seat) | No Molson Coors related-party transactions disclosed involving Timm |
Expertise & Qualifications
- Deep finance and capital allocation expertise from large-scale retailer; strategic planning, risk management, accounting, and reporting.
- Technology and digital platform experience; member of Technology Subcommittee overseeing cybersecurity, AI, and information security.
- Audit committee financial expert designation; financially literate per NYSE standards.
Equity Ownership
| Measure | Class A Shares | % of Class A | Class B Shares | % of Class B | RSUs Outstanding | DSUs Outstanding |
|---|---|---|---|---|---|---|
| Beneficial ownership (Record Date) | — | * | — | * | 3,970 | 0 |
- Includes prorated grant of 1,097 RSUs awarded January 2024 for partial 2023 service within total RSUs shown.
- Director Stock Ownership Requirements: Must own stock or equivalents equal to 5× annual retainer within 5 years; all directors meet or are on track.
- Hedging/Pledging: Company prohibits hedging and short sales and has an enhanced anti-pledging policy; no pledges disclosed for Timm.
Note: “*” denotes less than 1% as reported in the beneficial ownership table.
Governance Assessment
- Strengths:
- Independent director with “audit committee financial expert” status; multi-committee service (Audit, Finance, Technology) enhances oversight of financial reporting, capital structure, and cybersecurity/AI risks.
- Transparent, standardized director pay; equity via RSUs with clear vesting and dividend equivalent terms; robust ownership guidelines support alignment.
- Board effectiveness practices (third-party assessment, executive sessions) and strong policies (anti-hedging/pledging) bolster governance quality.
- Potential risk considerations:
- Controlled company structure and family-related transactions present structural governance considerations at company level, though none involve Timm.
- No related person transactions listed for Timm; beneficial ownership shows minimal current direct holdings, mitigated by RSU grants and ownership policy.