Vishnu Sundaram
GenthermAbout Vishnu Sundaram
Vishnu Sundaram, age 42, is Senior Vice President and Chief Technology Officer (CTO) at Gentherm (THRM), appointed in September 2023, responsible for technology strategy, advanced product engineering, longer-term R&D, and the partnership ecosystem . He previously led Cockpit Connected Services at Stellantis N.V. (2021–2023) and served as SVP of Telematics at Harman International (2012–2021), after earlier roles at Intel and Trilogy; he founded startups Lifeblob and Interchain, and holds a Master’s degree in Software Engineering from PSG . Company performance relevant to executive incentives during his tenure included 2024 Adjusted EBITDA of $193.9M (between target and maximum, 132.9% payout) and revenue of $1,473.0M (between threshold and target, 56.5% payout); strategic goals achieved maximum payouts in Automotive New Business Awards ($2,400M), New Technology Wins (8), and renewable energy share increase (17%) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Stellantis N.V. | SVP, Head of Cockpit Connected Services | 2021–2023 | Led connected-services platform for in-vehicle experience |
| Harman International (Samsung subsidiary) | SVP, Telematics | 2012–2021 | Global leader delivering connected car product platforms |
External Roles
(No external public company directorships disclosed for Sundaram.)
Fixed Compensation
- Sundaram was not a Named Executive Officer (NEO) for 2024; detailed base salary, target bonus %, and actual bonus paid are therefore not disclosed in the NEO compensation tables .
- Company-wide for executive officers, the 2024 Senior Level Bonus Plan was based solely on Company performance metrics and strategic goals, with independent goal payouts and a 200% cap per goal .
Performance Compensation
2024 Senior Level Bonus Plan Metrics and Outcomes (Company-level; applies to executive officers)
| Metric | Weight (%) | Threshold (50%) | Target (100%) | Maximum (200%) | Actual 2024 | Payout 2024 |
|---|---|---|---|---|---|---|
| Adjusted EBITDA ($M) | 40 | $168.0 | $187.0 | $208.0 | $193.9 | 132.9% |
| Revenue ($M) | 40 | $1,469.0 | $1,500.0 | $1,600.0 | $1,473.0 | 56.5% |
| Automotive New Business Awards | 8% (of total plan; 40% of strategic goals’ 20%) | Company-set scale | Company-set scale | Company-set scale | $2,400M | 200% |
| New Technology Wins | 8% (of total plan; 40% of strategic goals’ 20%) | Company-set scale | Company-set scale | Company-set scale | 8 | 200% |
| Increase in Renewable Energy Share | 4% (of total plan; 20% of strategic goals’ 20%) | Company-set scale | Company-set scale | Company-set scale | 17% | 200% |
Notes:
- Executive officers’ target bonuses were earned solely on Company metrics and strategic goals; each goal pays independently at 50%/100%/200% with interpolation .
Long-Term Incentive Program Design (2024)
| Component | Weight of LTI Grant Value | Performance Basis | Vesting | Grant-date Fair Value per Share |
|---|---|---|---|---|
| PSUs – Adjusted EBITDA Margin | 75% of target PSUs | Annual + 3-year growth in Adjusted EBITDA Margin; payout 50–200% of target | Cliff vest of earned PSUs after 3-year performance period | $60.68 (target PSU) via Monte Carlo |
| PSUs – Relative Revenue Growth | 25% of target PSUs | 3-year average YoY relative automotive product revenue growth vs S&P Global light vehicle production in relevant markets | Cliff vest of earned PSUs after 3-year performance period | $60.68 (target PSU) via Monte Carlo |
| Relative TSR Modifier | ±25% on total PSUs | Company TSR vs peer group | Applied at end of performance period | N/A |
| Time-vested RSUs | 40% (30% for CEO) of total LTI grant | Time-based | 3 equal annual installments on 1st–3rd anniversaries of grant | $53.27 (closing price on 3/15/2024) |
Equity Ownership & Alignment
- Stock Ownership Guidelines require CEO at 300% of base salary and other executive officers at 100% of base salary; executives must retain vested shares until guideline met . As of May 31, 2024, no executive officer was below the ownership guideline .
- Hedging and pledging of Company stock are prohibited by policy; trading requires pre-clearance and generally occurs in designated windows, with 10b5‑1 plan guidelines and blackout periods, reducing risk of speculative trading or margin-related forced sales .
- Beneficial ownership is disclosed for directors and NEOs; Sundaram is not individually listed, implying his specific share count was not required to be disclosed; executives and directors as a group held 437,059 shares (1.4% of outstanding) as of March 11, 2025 .
Employment Terms
- Executive officers serve at the pleasure of the Board; Sundaram is listed among executive officers as of March 27, 2025 .
- The Company maintains a discretionary Severance Plan for U.S.-based employees (including NEOs), providing case-by-case benefits for terminations without cause, subject to a separation agreement and restrictive covenants (non-compete, non-solicit, non-disparagement) and clawback policies; change-in-control benefits are designed to support retention and alignment .
- No single-trigger change-in-control benefits, no excise tax gross-ups, and a clawback policy apply; prohibition on repricing/replacing underwater options; governance features emphasize risk mitigation .
- Individual employment contract terms (e.g., severance multiples, specific non-compete duration) for Sundaram are not disclosed; NEO examples show employment contracts are at-will and severance receipt conditioned on release and compliance with covenants, with non-compete/non-solicit typically 12 months post-termination .
Investment Implications
- Alignment: Executive variable pay is predominantly tied to core financials (Adjusted EBITDA and revenue) and technology/commercial milestones, with PSU emphasis on margin expansion and a relative TSR modifier; this supports incentive alignment for a CTO focused on product innovation and platform execution .
- Retention/Trading Risk: Ownership guidelines and prohibitions on hedging/pledging reduce misalignment and margin-call risks; structured trading windows and 10b5‑1 oversight decrease insider trading risk and signal orderly liquidity management .
- Transparency Gap: Sundaram was not a 2024 NEO, so granular pay and personal ownership details are not disclosed; investors should monitor future proxies and 8‑K Item 5.02 filings for any changes in his compensation structure, inducement grants, or contract terms .
- Execution Signals: Company achieved maximum payouts on “New Technology Wins” and strong Automotive new business awards in 2024, indicating traction in product innovation and commercial pipeline during Sundaram’s tenure; continued PSU weighting toward EBITDA margin growth underscores management’s commitment to profitable innovation .
