Ken Bakshi
About Ken Bakshi
Ken Bakshi, age 75, has served on World Kinect Corporation’s board since 2002. He is Managing Partner of Trishul Capital Group LLC and Trishul Advisory Group LLC, with prior operating and technology leadership roles at Amala Inc., Row 2 Technologies, Vistaar, and Wyeth/American Home Products. On WKC’s board, he is independent and serves as Chair of the Compensation Committee and Chair of the Nominating Subcommittee, with additional memberships on the Governance, Sustainability & Corporate Responsibility, and Technology & Operations committees .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Trishul Capital Group LLC; Trishul Advisory Group LLC | Managing Partner | Since Jun-2003 | Private investment/consulting leadership |
| Amala Inc. | Chairman & CEO (Apr-2008 to Jul-2013); Executive Chairman (to Jun-2015) | 2008–2015 | Led CPG/skincare company |
| Row 2 Technologies | Co-founder; CEO (Dec-2002 to Feb-2006); Vice Chairman (to Jun-2009) | 2002–2009 | Enterprise software leadership |
| Vistaar, Inc. | EVP & COO | 2000–2002 | B2B marketplace incubator ops |
| Wyeth (American Home Products) | Senior Vice President | 1998–2000 | Large-cap pharma operating leadership |
| American Home Products / American Cyanamid | Various roles | Pre-1998 | Multinational operating experience |
External Roles
| Company/Institution | Role | Status | Notes |
|---|---|---|---|
| Public company boards | — | None disclosed | No current public directorships disclosed in WKC proxy |
| Private investment/consulting | Managing Partner, Trishul Capital Group LLC and Trishul Advisory Group LLC | Active | Since 2003 |
Board Governance
| Item | Detail |
|---|---|
| Independence | Independent director (all directors other than the CEO are independent under NYSE standards) |
| Board tenure | Director since 2002 |
| Committee assignments | Compensation (Chair); Governance (member); Sustainability & Corporate Responsibility (member); Technology & Operations (member); Nominating Subcommittee (Chair) |
| 2024 meeting cadence (Board/Committees) | Board: 4; Audit: 8; Compensation: 7; Governance: 4; Sustainability & Corporate Responsibility: 4; Technology & Operations: 4 |
| Attendance | Each director attended ≥75% of aggregate Board and committee meetings in 2024 |
| Shareholder engagement | Outreach to holders representing ~25% of shares; Comp Committee Chair attended most meetings |
| Compensation Committee interlocks | None in 2024 |
Fixed Compensation (Director)
| Component | Policy (2024–2025 term) | Ken Bakshi 2024 Actual |
|---|---|---|
| Annual cash retainer | $100,000 | Included in cash total |
| Lead Independent Director | +$40,000 (not applicable to Bakshi) | — |
| Committee membership fees | Audit: +$15,000; Comp/T&O/Sustainability: +$10,000 each; Nominating Subcommittee: +$5,000 | Included in cash total |
| Committee chair fees | Audit Chair: +$35,000; Comp Chair: +$30,000; Governance Chair: +$20,000; Sustainability Chair: +$20,000; T&O Chair: +$30,000; Nominating Subcommittee Chair: +$15,000 | Included in cash total |
| 2024 cash fees (reported) | — | $177,847 |
Notes: Non-management directors are reimbursed for meeting-related expenses .
Performance Compensation (Director Equity)
| Award | Policy/Structure | Ken Bakshi 2024–2025 Term |
|---|---|---|
| Annual RSU grant | $175,000 RSUs to each non-management director for board service | Included in grant count below |
| Governance Committee member RSUs | +$10,000 in RSUs for Governance Committee members | Applicable (member) |
| Chair RSU add-on | +$10,000 RSUs for Chairs of Compensation, Governance, T&O, Sustainability; +$15,000 RSUs for Audit Chair | Applicable (Comp Chair) |
| RSU vesting | Vest on earlier of day before next annual meeting or one year from grant; 100% shares delivered at vest | Standard terms apply |
| 2024 “Stock Awards” (grant-date fair value) | — | $205,006 |
| RSUs granted (units) | 2024–2025 term units | 7,739 RSUs |
Other Directorships & Interlocks
- Current public company directorships: None disclosed for Mr. Bakshi in the WKC proxy .
- Compensation Committee interlocks: None (no WKC executive serves on another company’s comp committee where a reciprocal relationship exists) .
Expertise & Qualifications
- Accounting/Finance; Information Technology; International Operations; Human Capital/Talent Management; Management .
- Extensive experience in private equity investments, management consulting, and running operating units within large multinational corporations .
Equity Ownership
| Measure | Detail |
|---|---|
| Beneficial ownership (as of Apr 10, 2025) | 44,784 shares; “<1%” denoted by asterisk in table |
| RSUs and stock units held (Dec 31, 2024) | RSUs: 24,418; Stock Units (deferred): 4,718; Total units: 29,136 |
| Scheduled deliveries (from units included above) | 4,718 shares in May 2025; 7,739 shares in June 2025; 16,679 shares upon departure from Board |
| Director ownership guideline | Minimum 5× annual board fee ($500,000) within 5 years; all non-management directors in compliance |
| Hedging/pledging | Hedging prohibited; pledging discouraged and requires prior approval; pledged shares do not count toward ownership guidelines |
Governance Assessment
-
Strengths
- Independent director with deep compensation oversight: Chairs Compensation Committee and led program refinements after a low 2023 say‑on‑pay vote; 2024 say‑on‑pay support improved to nearly 91% .
- High engagement: Comp Chair attended many shareholder meetings during outreach to holders representing ~25% of shares; enhanced disclosure and tightened financial weighting in AIP reflect responsiveness .
- Alignment mechanisms: Robust director and executive stock ownership and retention requirements; prohibition on hedging and restrictive pledging policy; clawback in place (executives) and plan-level recovery provisions .
- No related-party transactions and no comp committee interlocks disclosed for 2024, reducing conflict risk .
-
Watch items
- Long tenure (since 2002) can raise board refreshment considerations, though the board reports ongoing refresh and self-evaluations; three new directors added since 2020 .
- Board leadership remains combined Chair/CEO (with a strong Lead Independent Director structure); not a Bakshi-specific issue but relevant to overall governance context .
-
Director pay structure and mix: For 2024, Bakshi’s compensation mix was approximately $177,847 cash plus $205,006 equity (RSUs), indicating a balanced cash/equity structure that supports alignment with shareholders .
Director Compensation (Detail)
| Metric | 2024 |
|---|---|
| Fees Earned or Paid in Cash ($) | 177,847 |
| Stock Awards ($, grant-date fair value) | 205,006 |
| Total ($) | 382,853 |
Related-Party / Conflicts
- Policy: Governance Committee reviews and must approve related-party transactions above $120,000; framework includes materiality thresholds and exemptions .
- Disclosure: No reportable related person transactions in 2024 .
- Independence determination: All directors except the CEO are independent; Board specifically reviewed relationships when making determinations .
Say-on-Pay & Shareholder Feedback
- 2024 say-on-pay approval “nearly 91%” following compensation program adjustments (greater weighting on financial metrics, simplified strategic objectives) .
- Shareholder engagement program reached ~25% of outstanding shares; Comp Chair often attended; resulting actions included multiple governance and disclosure enhancements .
Compensation Committee Analysis (structure and practices)
- Committee composition and independence affirmed; Ken Bakshi is Chair .
- Use of independent compensation consultant (Compensation Strategies, Inc.) for benchmarking NEO and director pay; committee assessed consultant independence and found no conflicts .
- Continued refinement to PRSU metrics and the 2025–2027 design to emphasize sustained long-term performance (cumulative adjusted EPS and average ROIC) .
Overall signal: As Compensation Committee Chair with long tenure, Bakshi is central to WKC’s pay-for-performance oversight and investor engagement. The improved say-on-pay outcome, robust ownership/retention policies, lack of related-party transactions, and active governance processes support investor confidence, while his long tenure warrants continued board refreshment vigilance .