Kevin Hourican

About Kevin Hourican

Kevin Hourican (age 52) is an independent director of Tapestry, Inc. (TPR) since 2024 and serves on the Human Resources (Compensation) Committee. He is Chair of the Board and Chief Executive Officer of Sysco Corporation (since February 2020), and previously held senior leadership roles at CVS Health (EVP; President, CVS Pharmacy, 2012–2020) and Macy’s (SVP & Regional Director of Stores, 2006–2012). He holds an undergraduate degree in Economics and a master’s degree in Supply Chain Management from The Pennsylvania State University .

Past Roles

External Roles

Board Governance

• Independence and committee assignment: Independent director; member, Human Resources Committee (Compensation) .
• Committee composition and interlocks: HR Committee comprised solely of independent directors (Chair: John P. Bilbrey; members: Darrell Cavens, Kevin Hourican, Pamela Lifford). The company discloses no compensation committee interlocks or insider participation; none of Tapestry’s executive officers serve on the compensation committee or boards of companies where HR Committee members are executive officers .
• Meeting cadence and attendance: The Board held 8 meetings in FY2024; each incumbent director attended at least 75% of the Board and committee meetings on which they served. Regular quarterly Board and committee meetings include executive sessions of non‑employee, independent directors without management present . In FY2025, meetings were: Audit (4), Human Resources (5), Governance & Nominations (4); Hourican is listed as a Human Resources Committee member in the FY2025 roster .

Fixed Compensation

• Program structure (FY2025): Basic annual cash retainer $100,000; annual equity grant $200,000 (RSUs only, vesting in full after one year); Committee Chair retainers: Audit $35,000; HR $30,000; GN $25,000; Independent Chair retainer $200,000. Effective November 2024, the Board eliminated stock options for directors and shifted to 100% RSUs at ~$200,000 grant-date fair value based on a market study indicating prior total compensation was below peer median .

Notes:

• 2024 values reflect a partial year following Hourican’s appointment on February 29, 2024 .
• In FY2025, all director equity was granted as RSUs (no options) per policy change effective November 2024 .

Performance Compensation

• Design: Independent director equity is time‑based, not performance‑based. RSUs vest in full one year from grant. Prior program granted a 50/50 mix of options and RSUs with one‑year vesting; this was replaced by 100% RSUs effective November 2024 .

Other Directorships & Interlocks

Expertise & Qualifications

• Current public company CEO and operating leader with deep supply chain/operations background (Sysco; prior CVS Pharmacy; Macy’s) .
• Education: B.A. Economics and M.S. Supply Chain Management, The Pennsylvania State University .
• Board skill matrix highlights overall board coverage across AI, cyber/information security, global/international, human capital, retail/consumer, technology/e‑commerce, and governance; Hourican is profiled as a current public company CEO in the director summary .

Equity Ownership

Additional alignment details:

• Stock ownership policy requires independent directors to hold shares equal to 5x the $100,000 annual retainer within five years; until met, directors must retain 50% of net after‑tax shares from vesting/exercise. As of Dec 31, 2024, all independent directors were in compliance; Hourican (less than five years on the Board) was making appropriate progress toward the requirement .
• Outstanding director equity at FY2025 year‑end: 3,509 unvested RSUs per director (excluding Ms. Long) and 5,280 outstanding options for Hourican .
• At FY2024 year‑end, Hourican held 1,816 unvested RSUs (joining grant) and 5,280 outstanding options .
• Insider trading policy prohibits short sales, derivative transactions, and similar hedging activities by employees and directors .

Governance Assessment

• Committee role and independence: As an independent member of the HR (Compensation) Committee that is fully independent and free of interlocks, Hourican contributes large‑cap operating and supply chain expertise to Tapestry’s pay and talent oversight without disclosed conflicts .
• Engagement and attendance: Board met 8 times in FY2024, with at least 75% attendance by each incumbent director; regular executive sessions of independent directors indicate active oversight. HR, Audit, and GN committees met 5/4/4 times in FY2025, respectively .
• Pay structure and alignment: Director pay mix skews toward equity following the November 2024 redesign to eliminate options and grant 100% RSUs (~$200k), improving alignment and simplifying the program to peer‑median levels. Hourican’s FY2025 pay was $299,999 (cash $100,000; RSUs $199,999) vs. FY2024 partial‑year $178,783 .
• Ownership alignment: He is within the five‑year compliance window and making appropriate progress toward the 5x retainer ownership guideline; no pledging or related‑party transactions were disclosed in the retrieved sections .
• RED FLAGS: None identified in retrieved proxy disclosures—no compensation committee interlocks, attendance thresholds met, and director equity shifted away from options to time‑based RSUs in FY2025 .