Linda Connly
ZEBRA TECHNOLOGIESAbout Linda M. Connly
Independent Class III director at Zebra Technologies (ZBRA) since 2020; age 59. Former Bain & Company partner now serving as External Advisor (since Jan 2025). Connly brings 25+ years of cross-functional operating experience in technology go-to-market, revenue acceleration, M&A integration, and sales channel optimization; currently serves on the Audit Committee and the Nominating & Governance Committee and is deemed independent under Nasdaq rules as of Feb 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bain & Company | External Advisor; previously Partner, Commercial Excellence | External Advisor since Jan 2025; Partner 2020–2024 | Advisory on commercial excellence and revenue acceleration |
| Connly Advisory Group LLC | Chief Executive Officer | Since 2018 | Strategic advisory; GTM optimization |
| Rackspace Technology, Inc. | Interim EVP & Managing Director, Americas | 2018–2019 | Led Americas operations during transition |
| Dell Technologies | SVP, Operations & Customer Strategy, Infrastructure Solutions Group | 2016–2018 | Ops and customer strategy leadership |
| EMC Corporation | SVP, Go-to-Market Integration; various leadership roles in sales/marketing/operations | 2000–2016 | GTM integration and business transformation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Carbonite, Inc. (NASDAQ: CARB; acquired by OpenText) | Director | 2019 | Prior public board; acquired in 2019 |
| Presidio, Inc. (private; acquired by CD&R & BC Partners) | Director | 2020–Apr 2024 | Private company board through sale |
| Wasabi Technologies | Advisor | 2019–2020 | Cloud storage advisory role |
| Saint Anselm College | Trustee | 2020–2022 | Non-profit governance |
| Old Sturbridge Village | Board Member | 2008–2014 | Non-profit governance |
Board Governance
- Committee assignments: Audit Committee member; Nominating & Governance Committee member; not a chair .
- Independence: The Board determined in Feb 2025 that all directors except the Chair (Anders Gustafsson) and CEO (William Burns) are independent under Nasdaq rules; Connly is independent .
- Attendance: The Board met 7 times in 2024; all directors attended ≥75% of Board/committee meetings during their service period, and all attended the 2024 Annual Meeting .
- Board structure: Separate Chair and Lead Independent Director; regular executive sessions of independent directors; three standing committees (Audit, Compensation & Culture, Nominating & Governance), each fully independent .
- Committee activity levels (2024): Audit (7 meetings), Compensation & Culture (5), Nominating & Governance (5) .
Fixed Compensation (Director)
| Component | FY 2024 | Notes |
|---|---|---|
| Annual cash retainer | $90,000 | All non-employee directors |
| Committee member fees | Audit: $15,000; Nominating & Governance: $10,000 | Applies to Connly’s memberships |
| Chair/LID cash retainer | $100,000 (Chair), $100,000 (Lead Independent Director) | Not applicable to Connly |
| Annual equity retainer (fully-vested stock) | Target $220,000; actual grant 696 shares valued at $220,284 | Fully-vested common stock (no options) |
| Connly – Cash earned | $112,456 | Reported cash total |
| Connly – Stock awards | $220,284 | Fully-vested stock grant |
| Connly – Total director comp | $332,740 | Sum of cash + stock |
Policy highlights:
- No option/SAR repricing; no exchanges for cash; no excise tax gross-ups; double-trigger vesting for equity upon CoC + qualifying termination; robust stock ownership guidelines .
- Hedging, pledging, margin accounts prohibited under Securities Transactions & Confidentiality Policy .
Performance Compensation
Zebra does not link non-employee director pay to corporate performance metrics; directors receive fixed cash retainers and fully-vested equity grants without PSU/option structures .
Other Directorships & Interlocks
| Area | Detail |
|---|---|
| Current public company directorships | None for Connly (0) |
| Committee interlocks | Compensation & Culture Committee comprised solely of independent directors; no interlocks requiring Item 404 disclosure in 2024 |
| Outside board service limits | Non-employee directors limited to four public boards; compliance reviewed annually; all 2025 nominees compliant |
Expertise & Qualifications
- Revenue acceleration, sales resource optimization, M&A integration, GTM and high-velocity channels; technology and innovation experience; corporate governance proficiency .
- Skill matrix disclosures expanded in 2025 to show skill attainment; Board added independent third-party (Sidley Austin LLP) evaluation in 2024 .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (Connly) | 3,534 shares; <1% of outstanding |
| Shares outstanding (record date for 2025 meeting) | 51,143,319 |
| Ownership guidelines (directors) | 5x annual board cash retainer; retain 50% of after-tax vested shares until met |
| Compliance status (as of Dec 31, 2024) | All non-employee directors satisfied ownership levels except newly appointed Kenneth Miller (within compliance period) |
| Hedging/pledging | Prohibited under policy |
Insider Trades and Filing Compliance
| Item | Status |
|---|---|
| Section 16(a) filings (2024) | All required reports filed timely; no delinquencies |
| Related-party transactions | No transactions disclosed involving Connly; company disclosed employment of CPO’s son (~$134,000 in 2024) reviewed/approved by Audit Committee |
Governance Assessment
Positive signals:
- Strong independence and committee participation; Audit oversight experience relevant to financial integrity and cybersecurity risk oversight .
- Ownership alignment: Meets director stock ownership guidelines; hedging/pledging prohibited .
- Board effectiveness: Third-party board/committee/individual evaluations; refreshed skills matrix disclosures; active engagement with shareholders .
Potential concerns / monitoring items:
- 2024 Say-on-Pay support at 40.2% indicates investor dissatisfaction with executive pay (one-time award issue); Board responded with commitments to limit one-time awards and enhance disclosure—monitor follow-through and future vote outcomes .
- No director-specific conflicts disclosed for Connly; continue monitoring for any Bain advisory overlaps or future related-party matters under policy framework (no current flags) .
Clear implications:
- Connly’s commercial and GTM expertise is directly relevant to Zebra’s strategy shift toward intelligent automation and EAI solutions; her Audit and NGC roles enhance oversight quality without apparent conflicts .