Alexander R. Fischer
ADVANCED DRAINAGE SYSTEMSAbout Alexander R. Fischer
Independent director since 2014 (age 58). Founder of Alex R. Fischer & Co. (strategic advisory) and Partner at The New Albany Company, with prior roles as President & CEO of the Columbus Partnership (2009–2021), senior leadership at Battelle Memorial Institute (2002–2009), and Commissioner of Economic Development/Deputy Governor/Chief of Staff for the State of Tennessee (1997–2002). Education: B.S. in Economics & Public Administration and M.S. in Urban Planning & Economic Development, University of Tennessee. Core credentials: governance leadership, economic development, real estate strategy, commercialization, and public policy engagement .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Columbus Partnership | President & CEO | 2009–2021 | Led regional economic development collaboration |
| Battelle Memorial Institute | Senior Vice President, Business & Commercialization | 2002–2009 | Commercialization leadership in R&D organization |
| State of Tennessee | Commissioner of Economic Development; Deputy Governor; Chief of Staff | 1997–2002 | Statewide economic development and executive administration |
External Roles
| Organization | Role | Public/Private | Committees/Notes |
|---|---|---|---|
| CoreCivic (NYSE: CXW) | Director | Public company | Board member; committee roles not disclosed in WMS proxy |
| The New Albany Company | Partner | Private | Master developer for >20,000 acres mixed-use development |
| Nationwide Children’s Hospital | Director | Non-profit | Board service |
| White Oak Partners | Director | Private | Board service |
| Andelyn Biosciences | Director | Private | Board service |
| Columbus Downtown Development Corporation | Director | Non-profit | Board service |
| The Ohio State University | Trustee (prior) | Public university | Prior board of trustees service |
Board Governance
| Item | Detail |
|---|---|
| Independence | Determined independent by the Board; 10 of 11 nominees are independent |
| Committee assignments | Nominating & Corporate Governance (Chair); Audit; Executive Committee |
| Committee meeting cadence (FY2025) | Nominating & Governance: 4 meetings ; Audit: 8 meetings ; Executive Committee meets as needed |
| Board meetings & attendance | Board met 6 times in FY2025; each director attended at least 75% of Board/committee meetings |
| Prior-year attendance | Board met 5 times in FY2024; each director attended all meetings of Board/committees served |
| Board leadership | Independent Chair of the Board (Robert M. Eversole); executive sessions led by independent Chair at each regularly scheduled meeting |
| Governance processes | Majority voting standard; annual evaluations of Board and committees; ability to engage outside experts |
Fixed Compensation
| Fiscal Year | Cash Retainer ($) | Committee Chair Fees ($) | Total Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|---|---|
| FY2025 | 100,000 (policy) | 20,000 (Gov. Chair policy) | 120,000 (reported) | 142,323 (restricted stock grant, 1-year vest) | 262,323 |
| FY2024 | 100,000 (policy) | 20,000 (Gov. Chair policy) | 120,000 (reported) | 137,468 (restricted stock grant, 1-year vest) | 257,468 |
Notes:
- Non-employee director equity award increased to $135,000 value in FY2025 (one-year vest); no meeting fees; Chair of Board equity grant increased to $50,000 (not applicable to Fischer) .
- Option to take $100,000 cash retainer in stock exists; Fischer did not elect stock-in-lieu in FY2025 (elected by Eversole, Seetharam, Gast) .
Performance Compensation
| Item | Design | Metrics | Vesting |
|---|---|---|---|
| Director equity | Time-based restricted stock | Not performance-based | Vests on one-year anniversary of grant date |
Other Directorships & Interlocks
| Area | Findings |
|---|---|
| Public company boards | CoreCivic (NYSE: CXW) |
| Interlocks at WMS | None disclosed (Compensation Committee interlocks: none) |
| Competitor board restrictions | Directors may not sit on competitor boards; Board approval required for new public boards |
Expertise & Qualifications
- Governance and board leadership: Chair of Nominating & Corporate Governance Committee; leads director evaluations and succession planning .
- Real estate and economic development expertise (The New Albany Company; Columbus Partnership) .
- Commercialization and strategy experience (Battelle) and public sector executive experience (Tennessee) .
- Financial literacy: Audit Committee member .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | Ownership % | Pledged/Margin | Ownership Guidelines |
|---|---|---|---|---|
| Alexander R. Fischer | 15,324 | <1% | Company policy prohibits pledging/margin; none to date among Covered Persons | Directors must hold 5x annual cash retainer; 5-year compliance window; long-serving members in compliance |
Governance Assessment
- Board effectiveness: Fischer holds a core oversight role as Governance Chair and serves on Audit and Executive Committees; independence affirmed; Board features independent Chair, annual elections, majority voting, and executive sessions—supportive of investor confidence .
- Attendance and engagement: Committee cadence (Gov: 4; Audit: 8) and Board attendance thresholds met in FY2025; full attendance in FY2024 indicates strong engagement .
- Alignment and incentives: Director pay structure emphasizes modest cash retainer plus one-year restricted stock (no performance-based pay for directors), with stringent 5x ownership multiple—positive for alignment; Fischer’s FY2025 mix: $120k cash and $142k stock .
- Conflicts/related-party: No related-party transactions disclosed involving Fischer; robust related person transaction policy with Nominating & Governance committee oversight . His external real estate and public policy roles could create perceived conflicts in regional development, but no transactions with ADS are reported—monitor disclosures for any future overlaps (no pledging/hedging allowed) .
- Shareholder signals: Say-on-pay support remains strong (86% in 2025; 90% in 2024), indicating positive investor sentiment toward compensation governance broadly .
RED FLAGS: None disclosed regarding related-party transactions, low attendance, hedging/pledging, or director-specific pay anomalies. Continue to monitor any business dealings intersecting The New Albany Company or other entities where Fischer serves, and any future board service changes requiring approval under WMS policies .