Jorge L. Benitez
About Jorge L. Benitez
Independent director at World Kinect Corporation since 2015; age 65. Retired Accenture executive with 33+ years at the firm, serving as CEO of North America (2011–2014) and COO of the Products Operating Group (2006–2011). He brings deep expertise in technology, digital solutions, operations, and multi-industry strategy, and currently chairs WKC’s Technology & Operations Committee while serving on Audit, Governance, and Sustainability & Corporate Responsibility committees and the Nominating Subcommittee . He also serves on public company boards of Fifth Third Bancorp (chair, Technology Committee; member of Audit, Executive, Human Capital & Compensation) and Interpublic Group (member of Audit and Compensation & Leadership Talent) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Accenture plc | CEO, North America | 2011–2014 | Led North America operations; strategic and operational oversight |
| Accenture plc | COO, Products Operating Group | 2006–2011 | Operational excellence across automotive, travel, industrial, infrastructure sectors |
| Accenture plc | Various senior leadership roles | 1981–2006 | Broad technology and management leadership |
External Roles
| Organization | Role | Tenure | Committees/Positions |
|---|---|---|---|
| Fifth Third Bancorp (NASDAQ: FITB) | Director | Since 2015 | Chair, Technology; member: Audit, Executive, Human Capital & Compensation |
| Interpublic Group (NYSE: IPG) | Director | Since 2023 | Member: Audit; Compensation & Leadership Talent |
Board Governance
- Committee assignments: Audit (member), Governance (member), Sustainability & Corporate Responsibility (member), Technology & Operations (Chair), Nominating Subcommittee (member) .
- Independence: Board determined Benitez is independent under NYSE standards; all Audit and Compensation members are independent .
- Attendance: In 2024, Board met 4 times; committee meetings: Audit (8), Compensation (7), Governance (4), Sustainability & Corporate Responsibility (4), Technology & Operations (4). Each director attended at least 75% of aggregate Board and committee meetings; independent directors meet in executive session .
- Governance architecture: Independent-led committees; strong Lead Independent Director role; robust committee charters; director resignation policy for uncontested elections .
Fixed Compensation
- Structure:
- Annual cash retainer: $100,000; Committee membership cash fees: Audit ($15,000), Compensation/Technology & Operations/Sustainability ($10,000 each), Nominating Subcommittee ($5,000). Chair cash fees: Audit ($35,000), Compensation/Technology & Operations ($30,000 each), Governance/Sustainability ($20,000), Nominating Subcommittee ($15,000) .
- Equity: Annual RSUs ($175,000) for board service; Governance Committee members receive an additional $10,000 in RSUs; Chairs of Audit (+$15,000 RSUs), Compensation/Governance/Technology & Operations/Sustainability/Nominating Subcommittee each receive +$10,000 RSUs; RSUs vest on the earlier of the day prior to the next annual meeting or one year; 100% share delivery upon vest .
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $180,000 | $174,306 |
| Stock Awards ($) | $195,001 | $195,019 |
| Total Director Compensation ($) | $375,001 | $369,325 |
| RSUs Granted (Term) (#) | 8,305 (2023–2024 term) | 7,362 (2024–2025 term) |
Performance Compensation
- Directors at WKC do not receive performance-based equity (e.g., PSUs) or options; equity is time-vested RSUs with set vest schedule; meeting fees and chair fees are fixed .
- No director-specific performance metrics tied to compensation are disclosed for Benitez (AIP and PRSU frameworks apply to executives, not directors) .
| Component | Performance Link | Vesting/Terms | 2024 Details |
|---|---|---|---|
| RSUs (Board service) | None (time-based) | Vest prior to next annual meeting or 1 year; 100% share delivery | $175,000 grant; 7,362 RSUs for term |
| RSU Adders (Governance member; Chair roles) | None (time-based) | Same as above | Governance member +$10,000 RSUs; Tech & Ops Chair +$10,000 RSUs (Audit Chair is +$15,000 RSUs; not applicable to Benitez) |
Other Directorships & Interlocks
- Compensation Committee interlocks: Company discloses none for 2024; Benitez is not on Compensation Committee .
- Outside boards: FITB and IPG (see External Roles); no disclosed related-person transactions at WKC in 2024 .
- Board service limit: Corporate Governance Principles limit directors to ≤3 other public company boards; Benitez serves on 2, within policy .
Expertise & Qualifications
- Skills: Accounting/Finance; Corporate Governance; Human Capital/Talent Management; Information Technology; International Operations; Management .
- Technology & Operations oversight: As committee chair, oversees strategic tech investments, business continuity/disaster recovery, and consults with Audit on cybersecurity, data protection, privacy, fraud, and related risks .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial Ownership (# shares) | 55,408; less than 1% of outstanding |
| Shares Outstanding (record date) | 56,627,253 |
| RSUs Deliverable within 60 Days | 7,362 shares to be delivered June 2025 upon RSU settlement |
| Director Ownership Guidelines | ≥5x annual board fee ($500,000); all non-management directors are in compliance; vested RSUs and deferred stock units count |
| Hedging/Pledging | Company policy prohibits hedging and pledging; directors covered under corporate best practices |
Governance Assessment
- Strengths for investor confidence:
- Independent director with deep tech and operations background; chairs Technology & Operations, sits on Audit and Governance—signal of strong oversight in cybersecurity, IT risk, and financial controls .
- Active external board roles in regulated finance (FITB) and large-cap marketing (IPG), bringing cross-industry insights without competitive conflicts .
- Compliant with ownership guidelines; equity grants encourage alignment; company prohibits hedging/pledging; no reportable related-person transactions in 2024 .
- Board-level engagement and evaluation practices; say-on-pay support improved to ~91% in 2024, indicating responsiveness and governance credibility (though focused on executives) .
- Watch items:
- Multiple committee memberships and two external boards could pose “busy director” risk, mitigated by WKC’s policy cap (≤3 other boards) and positive attendance disclosure (≥75%) .
- No director-specific performance pay; equity is time-vested RSUs, which are standard but provide less direct performance linkage than PSUs; however, directors’ compensation is intentionally structured for independence and oversight, not operational targets .
Overall, filings indicate strong independence, robust committee leadership in technology/cybersecurity, and aligned equity ownership, with no material conflicts or related-party exposures disclosed for Benitez .