Harish Manwani
WHIRLPOOL CORP /DE/About Harish Manwani
Harish Manwani (age 71) is an independent director at Whirlpool Corporation, serving since 2011. He is a Senior Operating Partner at Blackstone (since 2015) and the former Chief Operating Officer of Unilever (2011–2014), following a 38-year career at Unilever across Asia, Africa, Central & Eastern Europe, Latin America, and North America. His board profile emphasizes global consumer products leadership, sales/marketing and brand management, sustainability, corporate strategy/M&A, and governance experience from other public boards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Unilever | Chief Operating Officer | 2011–2014 | Global operations leadership at a large consumer products company; sustainability and growth focus |
| Unilever | President, Asia, Africa, Central & Eastern Europe | Prior to 2011 | Led broad multi-region portfolio and strategy execution |
| Unilever/Hindustan Unilever | Various GM roles; joined as management trainee | 1976–2011 | Wide-ranging international experience across Latin America, North America, and Asia |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Blackstone Group | Senior Operating Partner | 2015–present | Advises select portfolio companies |
| Gilead Sciences, Inc. | Independent Director | 2018–present | Current public company board |
| Nielsen Holdings plc | Director (prior) | 2015–2021 | Prior public board |
| Qualcomm Inc. | Director (prior) | 2014–2022 | Prior public board |
Board Governance
- Independence: WHR determined all non-employee directors (including Manwani) meet NYSE independence standards; all HR and other board committees are fully independent.
- Committees (current): Corporate Governance & Nominating; Human Resources. He is not listed as a committee chair.
- Attendance and engagement: In 2024 the Board met six times; Manwani, along with all directors, attended at least 75% of Board and applicable committee meetings. All directors attended the 2024 annual meeting except one due to illness.
- Committee workload (2024): Corporate Governance & Nominating (3 meetings; composition includes Manwani), Human Resources (4 meetings; composition includes Manwani).
- Board leadership/independence practices: Combined Chair/CEO with an independent Presiding Director; independent directors meet in executive session at each Board and committee meeting.
- Shareholder engagement and Say‑on‑Pay: WHR actively engages investors on strategy, ESG, and compensation; 2024 Say‑on‑Pay support was 86%.
Fixed Compensation
| Component (Director) | 2024 Amount | Notes |
|---|---|---|
| Annual Cash Retainer | $150,000 | Standard cash retainer (half of total retainer) |
| Annual Stock Retainer (grant-date fair value) | $149,987 | Stock retainer granted at AGM; vests immediately |
| Committee Chair/Presiding Director Fees | $0 | No chair roles for Manwani in 2024 |
| All Other Compensation | $1,807 | Personal use of Whirlpool products and minor benefits |
| Total (2024) | $301,794 | Sum of cash, stock, other |
- Structure: For 2024, non-employee director pay comprised half cash, half stock; for 2025, stock retainer increased to $160,000 (cash retainer unchanged).
Performance Compensation
| Performance-based element | Terms | 2024 Status |
|---|---|---|
| None disclosed for non-employee directors | WHR director equity is an annual stock retainer vesting immediately; no performance metrics or options for directors | No director performance awards reported for 2024 |
Other Directorships & Interlocks
| Company | Role | Years | Interlock/Conflict Notes | |---|---|---| | Gilead Sciences | Independent Director | 2018–present | No disclosed interlocks; unrelated industry to appliances | | Nielsen Holdings (prior) | Director | 2015–2021 | Prior role; unrelated industry | | Qualcomm (prior) | Director | 2014–2022 | Prior role; unrelated industry |
- Compensation committee interlocks: WHR disclosed no “compensation committee interlocks” in 2024.
- Outside board limits: WHR limits directors to four public boards (two if serving as a public-company executive officer).
Expertise & Qualifications
- Consumer products leadership; sales/marketing/brand management; sustainability; global operations across multiple regions (EMEA, Asia, Latin America, North America).
- Corporate strategy and M&A (Unilever; Blackstone portfolio oversight).
- Corporate governance experience from multiple public company boards (current and prior).
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Shares beneficially owned | 11,001 | As of Feb 3, 2025 |
| Deferred stock units | — | No director DSUs reported for Manwani |
| Options (exercisable/unexercisable) | — | Directors do not hold options under 2024 design; stock retainer vests immediately |
| Ownership as % of shares outstanding | ~0.02% | 11,001 of 55,383,933 shares outstanding (record date Feb 14, 2025) |
| Stock ownership guideline | 5x annual cash retainer | Board-wide guideline; all non-employee directors met or were on track as of end 2024 |
| Pledging/Hedging | Prohibited for directors | Insider Trading Policy bans hedging and pledging for directors |
Governance Assessment
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Strengths:
- Independent status; long-tenured global consumer products operator with deep brand and go-to-market expertise aligned to WHR’s strategy.
- Active on Corporate Governance & Nominating and Human Resources Committees; these are fully independent committees at WHR.
- Attendance and engagement threshold met (≥75%); participates in committees that oversee board composition/refreshment, ESG monitoring, and executive pay.
- Solid alignment mechanisms: director stock retainer, 5x retainer ownership guideline, and prohibitions on hedging/pledging.
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Watch items:
- Age/tenure: At 71, he approaches WHR’s age 72 retirement provision, suggesting potential near-term refreshment; succession planning is an ongoing board focus.
- Potential conflicts from private equity affiliation: As a Senior Operating Partner at Blackstone, related-party risks could arise if WHR transacts with Blackstone or portfolio companies; WHR’s Related Person Transactions policy assigns review/approval to the Corporate Governance & Nominating Committee. No specific related-party transactions were disclosed for 2024.
- Multi-board service: Also serves on Gilead’s board; WHR policy caps at four public boards, which he is within. The board monitors director time commitments.
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Compensation governance context (Board oversight):
- Human Resources Committee retains independent consultant FW Cook; committee composition includes Manwani and is fully independent.
- Company-wide Say-on-Pay support of 86% in 2024; ongoing investor engagement on compensation and governance topics.
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RED FLAGS: None identified specific to Manwani (no low attendance, no pledging, no related-party transactions disclosed, no pay anomalies for directors). Continued monitoring warranted for retirement timing and any Blackstone-related dealings under related-party review procedures.