Alan Lau
TAPESTRYAbout Alan Lau
Alan Lau (age 50) is an independent director of Tapestry, Inc. (TPR) since 2023, serving on the Audit Committee and designated as an Audit Committee financial expert. He is Chief Business Officer of Animoca Brands (2022–present), formerly Chairman & CEO of Tencent WeSure (2016–2022), and previously a Senior Partner and Asia Head for McKinsey Digital (1997–2016). He holds a master’s degree in Engineering from Oxford University and brings deep digital, data analytics, and China market expertise to the board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Animoca Brands | Chief Business Officer | 2022–present | Digital and data-led consumer engagement; global technology expertise |
| Tencent WeSure | Chairman & CEO | 2016–2022 | Led insurtech platform; consumer digital channels |
| McKinsey Digital | Senior Partner; Asia Head | 1997–2016 | Asia digital leadership; technology/data analytics focus |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| M+ (Hong Kong) | Vice-chair | Not disclosed | Cultural institution leadership |
| Tate (Asia Committee) | Co-chair | Not disclosed | Arts committee leadership |
| Guggenheim (Asia Committee) | Co-chair | Not disclosed | Arts committee leadership |
Board Governance
- Independence: The Board determined all nominees other than the CEO are independent; Tapestry reports nine of ten director nominees are independent. Alan Lau is independent .
- Committee assignments: Audit Committee member; designated Audit Committee Financial Expert .
- Attendance and engagement: Board held six meetings in FY25; Audit Committee met four times; each incumbent director attended at least 75% of Board and applicable Committee meetings .
- Board structure: Independent Chair separated from CEO; all standing committees are fully independent .
| Governance Item | Status |
|---|---|
| Committee(s) | Audit Committee – Member; Financial Expert |
| Independence | Independent director |
| Board meetings (FY25) | 6 held; ≥75% attendance for all incumbents |
| Audit Committee meetings (FY25) | 4 held |
| Executive sessions | Regular sessions of independent directors; presided by Independent Chair |
| Other U.S.-listed public boards | None listed for Lau |
Fixed Compensation
| Element | FY25 Amount ($) | Notes |
|---|---|---|
| Basic annual retainer (cash) | 100,000 | Outside director schedule sets $100,000 base |
| Equity grant (RSUs) | 199,999 | Target annual RSU value ≈ $200,000; vests in 1 year |
| Committee chair fees | — | Not a chair; Audit Chair retainer set at $35,000 for chairs |
| All other compensation | — | Matching gifts may appear for others; none for Lau in FY25 |
| Total | 299,999 | — |
Director compensation program notes:
- RSU-only design (stock options eliminated for directors effective Nov 2024); annual equity target raised to $200,000 to align near peer median .
- Director pay capped at $800,000 annually under the 2018 Stock Incentive Plan .
Performance Compensation
Directors do not have performance-tied equity; annual RSUs vest time-based after one year.
| Performance Metric | Applicable to Director Equity? | Vesting/Terms |
|---|---|---|
| Financial metrics (Sales, ROIC, TSR) | No | Director RSUs are time-based; vest in 1 year |
| Options/PSUs | No | Board eliminated options; RSUs only for directors |
Other Directorships & Interlocks
| Company | Role | Committee Positions | Potential Interlock/Conflict |
|---|---|---|---|
| None disclosed (U.S.-listed) | — | — | No interlocks identified in proxy |
Related person transactions: Tapestry identified no transactions requiring Item 404(a) disclosure in FY25 .
Expertise & Qualifications
- Digital/data analytics, consumer engagement across digital channels, and deep China market knowledge .
- Financial literacy and Audit Committee financial expert designation .
- Technology/digital/e-commerce and innovation background from Animoca/Tencent/McKinsey .
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Shares beneficially owned | 20,958 | Less than 1% of class (*) |
| Options exercisable within 60 days | 16,313 | Included within beneficial ownership |
| Unvested RSUs (director grant outstanding at FY-end) | 3,509 | Standard for independent directors (except Ms. Long) |
| Ownership guideline | 5x basic retainer ($500,000) | Applies to all independent directors |
| Guideline compliance | Achieved ≥5x retainer as of 12/31/2024 | — |
(*) Less than 1% of outstanding shares .
Policy highlights:
- Directors must retain 50% of net after-tax shares until meeting guideline; compliance evaluated annually .
- Anti-hedging/short sales prohibited; clawback policies apply to incentive awards (executives) and restrictive covenants in equity agreements .
Governance Assessment
- Board effectiveness: Strong independence, regular executive sessions, and active oversight of risk/strategy (including AI and cybersecurity). Lau’s Audit Committee financial expertise strengthens financial oversight capacity .
- Alignment: Director pay is simple (cash + RSUs), median-aligned, and RSU-only structure reflects best practice; Lau meets ownership guidelines, signaling alignment with shareholders .
- Engagement/attendance: FY25 meetings were regular; incumbents met ≥75% attendance; Audit Committee met 4 times; Lau sits on Audit, indicating ongoing engagement in oversight .
RED FLAGS
- Related party transactions: None identified in FY25 .
- Pledging/hedging: Prohibited by policy; no pledging disclosed .
- Time-commitment risk: Lau holds a senior operating role (CBO) at Animoca Brands; Board’s governance principles include limits on outside boards and periodic review of external commitments to manage overload risk . No specific overload flagged in proxy .
- Attendance: No low-attendance flags; incumbents ≥75% .
Notes on Insider Trades
- The proxy summarizes ownership but not Form 4 transactions; no insider trading transactions are listed in the DEF 14A. For current Form 4 activity, refer to SEC EDGAR; proxy notes no related person transactions for directors/officers in FY25 .