Suzanne Present
About Suzanne M. Present
Suzanne M. Present (age 66) is Lead Independent Director of Unifi, Inc. (UFI) and Chair of the Audit Committee. She has served on UFI’s Board since 2011 and was appointed Lead Independent Director in February 2024; the Board has affirmatively determined she is independent under NYSE and SEC rules . Present is a co‑founder and principal of Gladwyne Partners, LLC (since 1998) and previously spent 15 years at Lazard Freres & Co.; she has also led the non‑profit Ken’s Krew, serving as Executive Director (2013–2020) and currently Chairman and Treasurer (since 2020) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lazard Freres & Co. | Various roles (investment banking) | 15 years (pre‑1998) | Developed extensive financial expertise |
| Ken’s Krew, Inc. | Executive Director | 2013–2020 | Workforce inclusion; program leadership |
| Ken’s Krew, Inc. | Chairman & Treasurer | 2020–present | Oversight of governance and finance |
| Unifi, Inc. | Director | 2011–present | Long-tenured board service |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Gladwyne Partners, LLC | Principal, Co‑founder | 1998–present | Private partnership fund manager |
| Ken’s Krew, Inc. | Chairman & Treasurer | 2020–present | Non-profit governance and finance |
The proxy notes Present “has served as a director of numerous public and private companies,” but does not list specific current public company directorships; no interlocks are disclosed .
Board Governance
- Committee assignments and roles:
- Lead Independent Director (appointed February 2024; reappointed October 2024) with duties including chairing executive sessions, liaising with management, approving agendas and schedules, and advising on committee chair selection .
- Audit Committee Chair; designated “audit committee financial expert” and financially literate by the Board .
- Not listed as a member of Compensation or Corporate Governance & Nominating Committees .
| Committee | Role | FY2025 Meetings | Notes |
|---|---|---|---|
| Audit | Chair | 4 | Financial reporting oversight; ERM; related-person transactions review; Present designated “financial expert” |
| Compensation | — | 4 | Not a member |
| Corporate Governance & Nominating | — | 4 | Not a member |
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Attendance and engagement:
- Board met 8 times in FY2025; each incumbent director attended ≥75% of Board and assigned committee meetings; all directors attended the 2024 Annual Meeting. As LID, Present presides over executive sessions of independent directors .
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Independence:
- Board determined Present is independent under NYSE and SEC standards following an August 2025 review; all relationships fell below thresholds in Director Independence Standards .
Fixed Compensation
| Component (FY2025) | Amount ($) | Form | Notes |
|---|---|---|---|
| Annual director retainer | 100,000 | Equity (vested share units or common stock) | Per Director Compensation Policy; directors may elect cash up to 50% with remainder in equity; Present elected equity‑only |
| Lead Independent Director retainer | 15,000 | Equity | Additional retainer for LID role |
| Audit Committee Chair retainer | 15,000 | Equity | Additional retainer for Audit Chair |
| Total FY2025 director compensation | 130,000 | Equity | Reported as Stock Awards; Option Awards: none |
- Mechanics:
- Independent directors can elect vested stock units payable upon cessation of service; number of shares/units determined by grant‑date fair value; shares payable on grant date, units deferred until board service ends .
Performance Compensation
| Item | FY2025 Detail |
|---|---|
| Performance-based director awards | None disclosed for independent directors; Stock Awards represent annual equity retainers; no options granted to Present in FY2025 |
| Performance metrics tied to director pay | Not applicable; proxy’s performance metrics apply to executive officers, not directors |
Other Directorships & Interlocks
- The proxy states Present has served as a director of numerous public and private companies across media, technology, healthcare, and retail, but does not list current public company boards or any interlocks with UFI’s competitors, suppliers, or customers .
- No related interlocks or conflicts for Present are disclosed in the Related Person Transactions section; transactions disclosed involve Director/major shareholder Kenneth G. Langone and entities he is associated with (e.g., Guaranty/Pledge for credit facility; Salem Leasing) and were approved under policy and handled via a Special Committee (Present not listed on that Special Committee) .
Expertise & Qualifications
- Financial expertise: Designated “audit committee financial expert” and financially literate; valuable to oversight of audit functions and analysis of business strategies .
- Investment and capital markets: 15 years at Lazard; principal at Gladwyne Partners .
- Governance leadership: Lead Independent Director with defined responsibilities enhancing board effectiveness and independent oversight .
Equity Ownership
| Holder | Shares Beneficially Owned | Ownership % | Composition/Notes |
|---|---|---|---|
| Suzanne M. Present | 101,598 | * (less than 1%) | Consists of restricted stock units and vested share units that will automatically convert into common shares upon termination of board service (12) |
- Hedging/pledging:
- Company policy prohibits hedging, short selling, and pledging of Company securities by directors, officers, and employees without Audit Committee approval; no pledging by Present is disclosed .
Governance Assessment
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Positives:
- Independence affirmed; long tenure (since 2011) and appointment as Lead Independent Director signal strong independent oversight and board leadership .
- Audit Committee Chair with “financial expert” designation strengthens financial reporting and ERM oversight .
- Equity‑only director pay (including LID and Audit Chair retainers) and deferral via vested stock units align incentives with long‑term shareholder value .
- Shareholder sentiment supportive: say‑on‑pay received ~92% approval at 2024 Annual Meeting (reflects broader compensation governance receptivity) .
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Watch items:
- Related‑party transactions with another director (Langone) necessitated a Special Committee and Audit Committee oversight; while controls operated appropriately, continued vigilance remains prudent; no involvement or conflict disclosed for Present .
- Attendance is reported at the ≥75% threshold across the board; individual attendance percentages are not disclosed—ongoing monitoring advisable .
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Signals for investors:
- The LID role with robust responsibilities (executive sessions, agenda control, liaison functions) supports effective independent board processes—a positive governance signal .
- No director‑specific conflicts or related‑party exposures are disclosed for Present, and prohibitions on hedging/pledging reinforce alignment .
No director employment contract, severance, or change‑of‑control provisions apply to Present; such terms disclosed in the proxy relate to executive officers, not independent directors .