Alex Dadakis
Executive Vice President and President, Testing, Inspection and Certification at UL Solutions
Executive
About Alex Dadakis
Alex G. Dadakis is Executive Vice President at UL Solutions, serving as Chief Business Operations and Innovation Officer from January 27, 2025 and transitioning to EVP & President of Testing, Inspection and Certification (TIC) on September 1, 2025; he reports to CEO Jennifer Scanlon . He was previously SVP and Global Head of Strategy & Corporate Development at Knauf Group (Jan 2023–Jan 2025), Chief Customer Experience & Strategy Officer at USG (2017–2023), and an associate partner at Bain & Company; he holds a B.A. in Economics from Wake Forest and an MBA from the University of Chicago Booth School of Business . Age: 38 at March 26, 2025; age 39 noted in August 2025 8-K; tenure at UL Solutions began January 27, 2025 . Company performance context: UL Solutions posted 2024 revenue of $2.9B (+7.2% YoY), net income +25% YoY, and $524M operating cash flow; Q3 2025 revenue grew 7.1% to $783M with Adjusted EBITDA up 18.6% to $217M and margin expanding to 27.7% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Knauf Group | SVP & Global Head of Strategy and Corporate Development | Jan 2023–Jan 2025 | Oversaw M&A, strategic planning and global rollouts |
| USG Corporation | SVP & Chief Customer Experience and Strategy Officer; earlier strategy roles | Jan 2017–Jan 2023 | Led sales/customer service operations and pricing strategy implementation |
| Bain & Company | Associate Partner | Pre‑2017 | Strategy consulting experience |
External Roles
No public company board service or committee roles disclosed for Dadakis in the proxy or 8‑K filings reviewed .
Fixed Compensation
| Component | Detail | Amount | Notes |
|---|---|---|---|
| Base Salary | Annual base salary | $550,000 | Offer letter dated Dec 3, 2024 |
| Executive Allowance | Annual cash allowance | $18,000 | Paid monthly ($1,500) |
| Sign‑On Bonus | Cash sign‑on | $100,000 | Paid within 30 days of start; 100% clawback if voluntary departure <12 months, 50% if <24 months |
| Location | Hybrid Chicago/Northbrook, IL | — | Onsite ~3 days/week per policy |
| Start Date | Employment commencement | — | January 27, 2025 |
Performance Compensation
| Program | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| AEIP (2025 onward) | Adjusted EBITDA | 75% | Company/segment targets set annually | Not disclosed | Not disclosed | Annual cash; segment leaders’ payout 50% based on segment achievement |
| AEIP (2025 onward) | Revenue | 25% | Company/segment targets set annually | Not disclosed | Not disclosed | Annual cash; segment leaders’ payout 50% based on segment achievement |
| LTIP Annual (typical structure) | PSUs: 3‑yr cumulative organic revenue and operating income (50/50) | 67% of grant value | Target shares; 0–200% payout curve | Not disclosed | Not disclosed | 3‑year cliff vest; dividend equivalents accrue |
| LTIP Annual (typical structure) | RSUs | 33% of grant value | Time‑based | Not disclosed | Not disclosed | 3 equal annual tranches; dividend equivalents accrue |
| LTIP Target (Dadakis) | Annual LTIP target grant | — | $900,000 | — | — | First normal course grant expected in 2H 2025, subject to HCCC approval |
Equity Ownership & Alignment
| Item | Status | Detail |
|---|---|---|
| Transition RSU (make‑whole) | Granted | $825,000 grant value, 3‑year graded vesting; grant expected in March 2025 following HCCC approval |
| Stock Ownership Guidelines | Applies | EVPs must maintain ownership equal to 2× base salary over time; 50% of net shares from vesting/exercise retained until compliant |
| Hedging/Pledging | Prohibited | No hedging, short sales, or pledging of company stock under Insider Trading Policy |
| Beneficial Ownership | Not disclosed | Individual share ownership not listed for Dadakis in the March 26, 2025 table |
Employment Terms
| Term | Provision | Notes |
|---|---|---|
| Role & Reporting | EVP, CBOI (effective Jan 27, 2025); EVP & President, TIC (effective Sep 1, 2025); reports to CEO | Compensation unchanged upon role transition |
| Non‑Compete | 12 months post‑termination | Applies in geographies of responsibility; prohibits competitive activity and solicitation of customers/employees as defined |
| Non‑Solicit | 12 months post‑termination | Customer and employee non‑solicitation covenants |
| Severance Plan | Executive Regular & CIC Severance Plan (Amended & Restated May 20, 2025) | EVP participants are Tier II |
| Severance (no CIC) | 1.0× base + target AEIP | Paid over 12 months; health coverage subsidized; pro‑rata AEIP if employed ≥6 months; outplacement |
| Severance (CIC, double‑trigger) | 1.25× base + target AEIP | Lump sum; health coverage subsidized; pro‑rata AEIP; plan uses double‑trigger vesting framework per program practices |
| 280G Treatment | Cut‑back, no gross‑up | Payments reduced if beneficial; no excise tax gross‑up |
| Clawback Policy | Broad recovery | Cash/equity awards subject to clawback for restatements, inaccurate metrics, risk or conduct violations; 3‑year lookback for specified events |
| Ethics & Conflicts | Standards of Business Conduct | Conflict‑of‑interest and confidentiality obligations |
Investment Implications
- Pay‑for‑performance: Annual cash incentives now tied primarily to adjusted EBITDA (75%) with revenue (25%), and segment leaders’ payouts half‑weighted to segment targets—tightening alignment to profitability and growth levers; Dadakis’ Sept 1 move to lead TIC increases exposure to segment metrics .
- Retention risk vs. selling pressure: The $825k transition RSU with 3‑year graded vesting and sign‑on bonus clawback (100% if <12 months; 50% if <24 months) create near‑term retention hooks and reduce immediate selling pressure; hedging/pledging prohibitions further align incentives .
- Change‑in‑control protections: Tier II severance (1.25× base+target bonus, double‑trigger vesting) is moderate versus peers and avoids 280G gross‑ups—balanced retention without outsized parachute risk .
- Execution scope: The TIC presidency coincides with strong Industrial/TIC momentum (Q3 2025 Industrial revenue +8.2% and Adjusted EBITDA margin 35.9%), offering operational leverage; watch for 2025–2026 LTIP PSU targets (3‑year organic revenue and operating income) to reinforce value creation .