Molly Mulroy
About Molly Mulroy
Executive Vice President and Chief Administrative Officer at WEC Energy Group, overseeing Administrative Services, Facilities, HR, IT Services, Supply Chain, and IT strategy since 2021; previously Vice President and Chief Information Officer leading enterprise IT, cybersecurity, and infrastructure. Elected to the WSBF Board effective July 22, 2025; term expires at the 2026 annual meeting. Education: bachelor’s degree from the University of Minnesota; MBA from the University of Chicago. Community leadership: boards of Milwaukee Ballet and Milwaukee Women, Inc.; chair of Milwaukee Tech Hub and Next Door Foundation. Age not disclosed in WSBF filings to date .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| WEC Energy Group | EVP & Chief Administrative Officer | 2021–present | Oversees enterprise admin, HR, IT, supply chain; drives IT strategy |
| WEC Energy Group | VP & Chief Information Officer | Prior to 2021 (dates not disclosed) | Led enterprise IT, cybersecurity, infrastructure |
| WEC Energy Group | Various leadership roles (Customer Service, Finance, Wholesale Energy & Fuels, Regulatory Affairs, State Government Affairs) | Since 1999 | Cross-functional leadership experience across regulated utility operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Milwaukee Tech Hub | Board Chair | Not disclosed | Regional technology ecosystem leadership |
| Next Door Foundation | Board Chair | Not disclosed | Community impact leadership |
| Milwaukee Ballet | Director | Not disclosed | Community arts governance |
| Milwaukee Women, Inc. | Director | Not disclosed | Diversity and leadership advocacy |
Board Governance
- WSBF Election and Term: Elected effective July 22, 2025; term expires at the 2026 annual meeting .
- Committee Assignments (WSBF): Audit Committee; Nominating & Governance Committee. No chair roles disclosed for Mulroy. Audit Chair transitioned to Laura Piotrowski on Oct 21, 2025 .
- Independence: The Audit and Nominating committees are composed of independent directors per WSBF governance; Audit members must meet SEC/Nasdaq independence. Mulroy’s appointment to these committees is consistent with those requirements, though WSBF has not separately labeled her “independent” in filings yet .
- Attendance: WSBF reported in its latest proxy that no directors fell below 75% attendance for 2024. Mulroy joined in July 2025; her attendance record will be captured in the next proxy .
- Board Leadership: Chairman of the Board is Patrick S. Lawton . Independent directors meet in executive sessions without management present .
Fixed Compensation
WSBF’s latest proxy details the 2024 director compensation framework; Mulroy’s compensation as a 2025 appointee is not yet disclosed.
| Component | WSBF Amount/Structure | Source |
|---|---|---|
| Annual Board Retainer (Cash) | $65,000 cash for non-employee directors (2024) | |
| Committee Membership Fees | Typical fees of $10,000; higher for extensive committee service (e.g., $23,500 Audit Chair; $32,500 for Chairman of Board’s committee service) (2024) | |
| Chair Fees | Audit Committee Chair $23,500 (2024); Nominating Co-Chairs noted; Exec Committee Chair noted with fees | |
| Equity Awards to Directors | No routine equity awards to non-employee directors disclosed for 2024; exception: Douglas S. Gordon reported $672,000 in stock awards (context: former CEO retained as director) | |
| Ownership Guidelines | Directors must hold ≥3x annual board cash compensation; 5-year compliance window | |
| Hedging/Pledging | Prohibited for directors and officers (no margin accounts/pledging; no hedging) |
Note: Mulroy’s specific retainers/fees/equity will appear in WSBF’s 2026 proxy covering 2025 service.
Performance Compensation
WSBF does not disclose performance-conditioned compensation metrics for non-employee directors. Director equity is not presented as annual performance-based grants; alignment is via ownership guidelines and prohibited hedging/pledging .
| Performance Metric | Applied to Directors? | Notes |
|---|---|---|
| Financial/TSR metrics tied to pay | Not disclosed for directors | WSBF uses performance metrics for executives; not for directors |
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| WEC Energy Group | Public | Senior executive (EVP & CAO) | No WSBF related-party transactions >$120k disclosed; routine director/officer loans at market terms only. Monitor for any vendor/customer relationships (utilities infrastructure, facilities) |
| Non-profit boards (above) | Non-profit | Director/Chair | Community ties, not commercial conflicts |
WSBF reported no related-party transactions over $120,000 involving directors/officers since Jan 1, 2024, beyond ordinary-course loans on market terms .
Expertise & Qualifications
- Regulated utility operations, enterprise IT strategy, cybersecurity, HR and administrative leadership (EVP & CAO; prior CIO) .
- Education: BA University of Minnesota; MBA University of Chicago .
- Community leadership and technology ecosystem chair roles (Milwaukee Tech Hub; Next Door Foundation), plus nonprofit board governance .
- Skill fit with WSBF’s Board Skills Matrix areas (technology/cyber, risk, governance, HR/compensation), consistent with committee placement on Audit and Nominating .
Equity Ownership
| Item | Status |
|---|---|
| Beneficial Ownership at 2025 Record Date | Not listed among directors/executives as of March 26, 2025 (pre-appointment) |
| Ownership Guidelines | Directors must reach ≥3x annual board cash compensation within five years; all directors as of Dec 31, 2024 were compliant (pre-appointment) |
| Hedging/Pledging | Prohibited for directors (no margin pledging; no hedging transactions) |
| Vested/Unvested Shares | Not disclosed yet for Mulroy; will appear in next proxy |
Insider Trades
| Date | Form | Transaction | Shares/Price | Notes |
|---|---|---|---|---|
| Since appointment (Jul 22, 2025) | — | No Form 4s identified in WSBF filings to date for Mulroy | — | Proxy notes timely Section 16 compliance for 2024 directors; Mulroy joined in 2025 |
Governance Assessment
- Board effectiveness: Appointment to Audit and Nominating & Governance adds technology/cyber and HR/operations depth; Audit membership aligns with her CIO/IT risk background .
- Independence and oversight: Audit and Nominating committees are independent per WSBF policy; Mulroy’s placement supports robust oversight of financial reporting and board composition .
- Alignment and risk controls: Strong director ownership guidelines (3x cash retainer, five-year window) and explicit bans on hedging/pledging reduce alignment risk; clawbacks apply to executives, reinforcing overall governance tone .
- Conflicts: As a current WEC Energy Group executive, monitor for any WSBF contracts or material relationships with WEC or affiliates. WSBF reports no RPTs >$120k; policy requires board review/approval for director/officer transactions . No red flags identified to date.
- Signals: High prior say-on-pay support (91% in 2024) suggests shareholder confidence in WSBF’s compensation governance; Mulroy’s addition signals board focus on tech, cybersecurity, and human capital oversight amid evolving bank risk landscapes .
Red Flags to monitor
- Any future pledging/hedging exceptions or waivers (currently prohibited) .
- Related-party transactions post-appointment (utilities, facilities, IT services). WSBF policy requires board approval; none disclosed to date .
- Committee independence maintenance as board composition changes (Audit/Nominating independence standards) .