Eleuthère du Pont
WSFS FINANCIALAbout Eleuthère I. du Pont
Eleuthère I. du Pont, 58, is an independent director of WSFS Financial Corporation, serving since 2013 with his current term expiring in 2026 . He was the Lead Independent Director from 2016 to 2021 and brings expertise in corporate governance, accounting, finance, operations, retail, IT, and investment management . His education includes a B.S. in Mechanical Engineering and an MBA from Stanford University . The Board has affirmed his independence under Nasdaq standards; all directors other than the CEO are independent .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Longwood Foundation | President | 2008–present | Leads grantmaking and governance for a major private foundation |
| drugstore.com | SVP, Operations & CFO | 2007–2008 | Oversight of finance and operations at an online retailer |
| E.I. du Pont de Nemours and Company | Director (ex-officio during merger with Dow) | During merger period (not specified) | Board-level experience at a large public company through merger process |
External Roles
| Organization | Role | Status |
|---|---|---|
| Longwood Foundation | President | Current |
| E.I. du Pont de Nemours and Company | Ex-officio Director | Historical (during Dow merger) |
Board Governance
- Committee assignments and chair roles:
- Chair: Wealth Management Fiduciary Committee; 6 meetings in 2024 .
- Member: Audit Committee (6 meetings in 2024) , Executive Committee (10 meetings in 2024) , Wealth Management Fiduciary Audit Committee (4 meetings in 2024) .
- Independence and leadership:
- Independent director per Nasdaq standards; all directors except CEO are independent .
- Served as Lead Independent Director (2016–2021), supporting independent oversight .
- Attendance and engagement:
- Board held 7 meetings in 2024; each director attended at least 75% of Board and committee meetings; all directors attended last year’s Annual Meeting .
- Executive sessions:
- Independent directors meet in executive session at each Board and committee meeting; at least two independent-only meetings annually .
Fixed Compensation
| Component | Amount/Details |
|---|---|
| 2024 Fees Earned (Cash) | $97,750 |
| 2024 Stock Awards (Grant-date fair value) | $60,000 |
| 2024 Total Director Compensation | $157,750 |
| Standard Board Retainer Structure | $120,000 per year: $60,000 cash (paid in July) and $60,000 in WSFS common stock (issued based on closing price on the second Friday in August 2024) |
| Committee Chair Fees (schedule) | Wealth Management Fiduciary Committee Chair: $8,500; Audit/WM Fiduciary Audit Committee Chair: $13,500; Leadership & Compensation Chair: $11,000; Governance & Nominating Chair: $8,500; Risk Chair: $8,500 |
| Committee Membership/Meeting Fees (schedule) | Audit/WM Fiduciary Audit: $14,250; Governance & Nominating: $7,500; Executive: $7,500; Risk: $7,500; Leadership & Compensation: $7,500; Wealth Management Fiduciary: $7,500 |
| Director Deferred Compensation Plan | Available; permits deferral of retainer/fees; company has not made employer contributions for directors |
Performance Compensation
- WSFS does not disclose performance-conditioned equity for directors; standard director equity is an annual stock grant and committee-based fees without stated performance metrics .
Other Directorships & Interlocks
| Company/Institution | Role | Interlock/Notes |
|---|---|---|
| E.I. du Pont de Nemours and Company | Ex-officio Director | Historical role during Dow merger; no current WSFS-related interlock disclosed |
| Longwood Foundation | President | Non-profit leadership; no WSFS related-party transaction disclosed |
- WSFS policy limits service on other public company boards (≤3 public boards; ≤2 if also a CEO), with Board approval required; designed to mitigate conflicts and ensure effectiveness .
Expertise & Qualifications
- Governance, accounting, finance, operations, retail, IT, investment management .
- Prior Lead Independent Director experience at WSFS (2016–2021) .
- Mechanical Engineering (B.S.) and MBA from Stanford University .
Equity Ownership
| Metric | Value |
|---|---|
| Shares beneficially owned (incl. exercisable options) | 15,464 |
| Ownership as % of outstanding | <1% |
| Director stock ownership guideline | Minimum 5,000 shares for independent directors |
| Compliance with guideline | Yes (owns 15,464 vs. 5,000 guideline) |
| Hedging policy | Hedging of WSFS stock prohibited for insiders |
| Pledging of shares | Not disclosed in proxy |
- Section 16(a) compliance: WSFS reported no late insider filings in 2024 other than one executive (Jamie Hopkins); no late filings identified for du Pont .
Governance Assessment
- Board effectiveness and independence:
- du Pont chairs the Wealth Management Fiduciary Committee and serves on Audit, Executive, and WM Fiduciary Audit, indicating deep engagement with risk, fiduciary, and operational oversight .
- Independence affirmed; prior service as Lead Independent Director enhances governance credibility .
- Alignment and incentives:
- Exceeds director stock ownership guideline (15,464 shares vs. 5,000 minimum), supporting ownership alignment; however, equity stake remains <1% of outstanding shares, typical for non-executive directors .
- Director pay structure blends cash retainer, committee fees, and annual stock grants; no performance metrics or option repricing disclosed for directors, consistent with shareholder-friendly practices .
- Conflicts and related-party exposure:
- WSFS related-party transaction policy overseen by Governance & Nominating; no related-party loans exceeding Regulation O thresholds disclosed for 2024 and no specific related-party transactions involving du Pont disclosed, reducing conflict risk .
- Shareholder signals:
- 2024 say-on-pay approval at >87% indicates investor support for WSFS compensation governance broadly (executive-focused, but relevant to board oversight quality) .
- RED FLAGS: None disclosed specific to du Pont—no attendance issues (≥75% standard met for all directors), no hedging/pledging disclosures adverse to policy, no related-party transactions, no legal or SEC proceedings reported in proxy .