Lynne Biggar
Voya FinancialAbout Lynne Biggar
Independent director at Voya Financial, Inc. (VOYA), age 62; served on the board from 2014–2021 and rejoined in 2022 to present. Senior Advisor at Boston Consulting Group; former Global Chief Marketing Officer at Visa (2016–2022); senior roles at Time Inc. (2013–2016) and 21 years at American Express; recognized by Forbes as one of the World’s Most Influential CMOs (2019–2021) . Biggar is classified as independent under NYSE rules; the Board reaffirmed her independence in 2024 and 2025 reviews .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Visa, Inc. | EVP & Global Chief Marketing Officer | 2016–2022 | Led global brand, financial and customer metrics delivery; deep B2B/B2C/B2B2C insight |
| Time Inc. | EVP, Consumer Marketing & Revenue | 2013–2016 | Drove consumer marketing and revenue strategies |
| American Express | Senior management roles (acquisition, rewards, loyalty, consumer travel) | 1992–2013 | Global Management Team member; growth and retention programs |
| Boston Consulting Group | Senior Advisor | Current | Strategic advisory experience |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| Anheuser-Busch InBev | Director | Public | Global consumer brand oversight experience |
| Hiscox Group | Director | Public | Insurance industry expertise; adjacent to VOYA’s sector |
| Finastra | Director | Private | Financial technology exposure |
| Leading Hotels of the World | Director | Private | Hospitality/brand experience |
Board Governance
- Committee assignments: Chair, Compensation, Benefits and Talent Management Committee (8 meetings in 2024) ; Member, Audit Committee (10 meetings in 2024) ; Member, Technology Committee (5 meetings in 2024) .
- Independence: Board determined Biggar and the majority of directors are independent; relationships reviewed and deemed immaterial under NYSE standards .
- Attendance and engagement: 10 Board meetings, 36 standing committee meetings, and 32 executive sessions in 2024; average attendance ~97%; no director under 75% attendance threshold; 9 of 11 directors attended the 2024 annual meeting .
- Governance practices: Robust clawback; anti-hedging/anti-pledging; stock ownership requirements; 100% independent standing committees (excluding Executive) .
Fixed Compensation
- Director compensation structure (policy):
- Annual cash retainer: $105,000; additional $10,000 per committee membership (non-chair); chair fees: Audit $30,000; Compensation/Risk/NGSR/Technology $20,000; Non-Executive Chair additional $150,000 .
- Annual equity grant: time-vested RSUs with target value $170,000; vests at next annual meeting; directors may defer cash fees; ownership guideline: 5× annual board cash fees within 5 years; as of March 26, 2025, all long-tenured directors met guidelines .
- Biggar’s 2024 non-employee director compensation (for 2024 service):
Component Amount (USD) Fees Earned or Paid in Cash $145,000 Stock Awards (grant-date fair value) $150,015 All Other Compensation (charitable match up to $25k) $23,450 Total $318,465 - RSUs outstanding as of Dec 31, 2024: 5,862 .
Performance Compensation
- Non-employee director equity is time-vested RSUs without performance metrics; however, as Compensation Committee Chair, Biggar oversees executive incentive metrics. 2024 annual cash incentive funding was determined on the following metrics:
Metric Weight Threshold Target Maximum Actual Performance Payout Adjusted Operating Earnings ($mm) 50% $837 $1,046 $1,256 $870 58% Adjusted Operating Return on Allocated Capital 35% 15.6% 19.5% 23.4% 17.5% 74% Strategic Indicators (portfolio score) 15% 1.5 3.0 4.5 3.5 117% Total Funding 100% — — — — 73% - Long-term PSU metrics (under Committee oversight): Relative TSR (50% weight), Adjusted Operating EPS (30%), Adjusted Operating ROE (20%); 2022–2024 PSU payout was 78% (ROE 77%, EPS 58%, TSR 90%) .
Other Directorships & Interlocks
- Public boards (AB InBev, Hiscox): Potential sector adjacency via Hiscox (insurance); VOYA’s Board affirmed Biggar’s independence and indicated no material related-party exposure under its policy .
- Related-party transaction policy: NGSR Committee reviews any Item 404 transactions >$120k; director investments in VOYA-sponsored funds not deemed related if on market terms or via company plans .
Expertise & Qualifications
- Deep global marketing and customer insight expertise spanning financial services and consumer brands; seasoned board director across public/private companies .
- Recognitions: Forbes World’s Most Influential CMOs (2019–2021) .
Equity Ownership
- Beneficial ownership (as of March 26, 2025):
Holder Common Shares Options Exercisable (60 days) % of Class Additional Stock Units Total Common & Units Lynne Biggar 16,198 — <1% 6,637 22,835 - Director stock ownership guidelines: 5× annual board cash fees; long-tenured directors met guideline as of measurement date .
- Anti-hedging/anti-pledging: Directors prohibited from hedging or pledging VOYA securities; rigorous clawback policy applies .
Governance Assessment
- Strengths: Independent director; Chair of Compensation Committee with robust governance (independent consultant FW Cook; clawback exceeding NYSE standards); strong attendance culture; anti-hedging/pledging; director ownership requirements; transparent director pay structure; say-on-pay support rebounded to 98.2% in 2024 after responsiveness to investor feedback .
- Potential red flags/monitoring items: Multi-board commitments (AB InBev, Hiscox, private boards) imply workload considerations; however, VOYA reports no material related-party transactions and affirms independence; hedging/pledging prohibited; charitable matching appears within policy limits .
- Overall signal: Alignment and process rigor under Biggar’s committee leadership support investor confidence in compensation governance (clear metrics, capped TSR payouts when absolute TSR negative, clawbacks) .