Steelcase Management

Management criteria checks 2/4

Steelcase's CEO is Sara Armbruster, appointed in Jan 2014, has a tenure of 10.33 years. total yearly compensation is $4.15M, comprised of 21.7% salary and 78.3% bonuses, including company stock and options. directly owns 0.67% of the company’s shares, worth €9.42M. The average tenure of the management team and the board of directors is 1.3 years and 7.3 years respectively.

Key information

Sara Armbruster

Chief executive officer

US$4.2m

Total compensation

CEO salary percentage	21.7%
CEO tenure	10.3yrs
CEO ownership	0.7%
Management average tenure	1.3yrs
Board average tenure	7.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Sara Armbruster's remuneration changed compared to Steelcase's earnings?
Date	Total Compensation	Salary	Company Earnings
Feb 23 2024	n/a	n/a	US$78m
Nov 24 2023	n/a	n/a	US$73m
Aug 25 2023	n/a	n/a	US$54m
May 26 2023	n/a	n/a	US$47m
Feb 24 2023	US$4m	US$900k	US$34m
Nov 25 2022	n/a	n/a	US$17m
Aug 26 2022	n/a	n/a	US$15m
May 27 2022	n/a	n/a	US$20m
Feb 25 2022	US$5m	US$697k	US$4m
Nov 26 2021	n/a	n/a	US$12m
Aug 27 2021	n/a	n/a	US$5m
May 28 2021	n/a	n/a	US$35m
Feb 26 2021	US$1m	US$398k	US$26m
Nov 27 2020	n/a	n/a	US$84m
Aug 28 2020	n/a	n/a	US$136m
May 29 2020	n/a	n/a	US$141m
Feb 28 2020	US$2m	US$473k	US$196m
Nov 22 2019	n/a	n/a	US$153m
Aug 23 2019	n/a	n/a	US$136m
May 24 2019	n/a	n/a	US$124m
Feb 22 2019	US$1m	US$451k	US$124m
Nov 23 2018	n/a	n/a	US$101m
Aug 24 2018	n/a	n/a	US$90m
May 25 2018	n/a	n/a	US$78m
Feb 23 2018	US$1m	US$439k	US$79m

Compensation vs Market: Sara's total compensation ($USD4.15M) is above average for companies of similar size in the German market ($USD1.47M).

Compensation vs Earnings: Sara's compensation has been consistent with company performance over the past year.

CEO

Sara Armbruster (52 yo)

10.3yrs

Tenure

US$4,150,404

Compensation

Ms. Sara E. Armbruster has been an Executive Vice President and Director of at Steelcase Inc. since April 2021. She had been Vice President of Strategy, Research and Digital Transformation at Steelcase, In...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Sara Armbruster	President	10.3yrs	US$4.15m	0.67% $ 9.4m
David Sylvester	Senior VP & CFO	13.1yrs	US$2.31m	0.54% $ 7.6m
Robert Krestakos	VP & COO	9.3yrs	US$1.15m	0.11% $ 1.5m
Lizbeth O'Shaughnessy	Senior VP	16.8yrs	US$1.60m	0.30% $ 4.1m
Allan Smith	Senior VP	less than a year	US$1.88m	0.22% $ 3.1m
Nicole Mcgrath	VP, Corporate Controller & Chief Accounting Officer	1.3yrs	no data	0.031% $ 436.3k
Steven Miller	VP & CTO	2.6yrs	no data	0.070% $ 983.7k
Michael O'Meara	Director of Investor Relations & Financial Planning and Analysis	no data	no data	no data
Gale Moutrey	Vice President of Global Brand and Corporate Communications	1.3yrs	no data	no data
Terrence Lenhardt	Senior Vice President of Marketing & Customer Verticals	less than a year	no data	no data
Donna Flynn	VP & Chief People Officer	less than a year	no data	0.080% $ 1.1m
Peter Lewchanin	President of APAC	less than a year	no data	no data

1.3yrs

Average Tenure

56.5yo

Average Age

Experienced Management: GJB's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Sara Armbruster	President	3.1yrs	US$4.15m	0.67% $ 9.4m
Robert Pew	Independent Chair of the Board	37.3yrs	US$322.50k	4.36% $ 61.1m
Peter Wege	Independent Director	45.3yrs	US$225.00k	0.16% $ 2.3m
Kate Wolters	Independent Director	23.3yrs	US$215.00k	5.2% $ 72.8m
Timothy C. Brown	Independent Director	7.4yrs	US$230.00k	0.00023% $ 3.2k
Sanjay Gupta	Director	1.6yrs	US$112.50k	0.023% $ 324.8k
Connie Duckworth	Independent Director	14.2yrs	US$222.50k	0.10% $ 1.4m
Cathy Ross	Independent Director	18.2yrs	US$232.50k	0.0032% $ 44.2k
Jennifer Niemann	Director	6.8yrs	US$226.25k	0.59% $ 8.2m
Todd Kelsey	Independent Director	7.2yrs	US$235.00k	0.029% $ 409.4k
Catherine C. Schmelter	Independent Director	4.4yrs	US$226.25k	no data
Linda Williams	Independent Director	3.7yrs	US$225.00k	0.039% $ 551.6k

7.3yrs

Average Tenure

59yo

Average Age

Experienced Board: GJB's board of directors are considered experienced (7.3 years average tenure).

Steelcase Management

Management criteria checks 2/4

Key information

Recent management updates

Insufficient new directors

Steelcase Inc., Annual General Meeting, Jul 10, 2024

Senior VP & CFO recently sold €1.1m worth of stock

Senior VP recently sold €310k worth of stock

Steelcase Inc., Annual General Meeting, Jul 12, 2023

Steelcase Inc., Annual General Meeting, Jul 12, 2023

Recent updates

Insufficient new directors

Steelcase Inc., Annual General Meeting, Jul 10, 2024

Fourth quarter dividend of US$0.10 announced

Full year 2024 earnings released: EPS: US$0.68 (vs US$0.30 in FY 2023)

Steelcase Inc. Provides Revenue Guidance for the First Quarter of Fiscal Year 2025

New major risk - Revenue and earnings growth

Now 22% undervalued

Steelcase Inc. to Report Q4, 2024 Results on Mar 20, 2024

Senior VP & CFO recently sold €1.1m worth of stock

Investor sentiment improves as stock rises 22%

Now 20% undervalued

Third quarter 2024 earnings released: EPS: US$0.26 (vs US$0.098 in 3Q 2023)

Steelcase Inc. to Report Q3, 2024 Results on Dec 19, 2023

New major risk - Share price stability

Senior VP recently sold €310k worth of stock

Second quarter 2024 earnings released: EPS: US$0.24 (vs US$0.17 in 2Q 2023)

Steelcase Inc. to Report Q2, 2024 Results on Sep 19, 2023

Steelcase Inc., Annual General Meeting, Jul 12, 2023

Steelcase Inc., Annual General Meeting, Jul 12, 2023

Upcoming dividend of US$0.10 per share at 5.4% yield

First quarter 2024 earnings released: EPS: US$0.013 (vs US$0.10 loss in 1Q 2023)

Steelcase Showcases New Solutions That Go Beyond Hybrid and Deliver on Sustainability Commitments at NeoCon 2023

Steelcase Inc. to Report Q1, 2024 Results on Jun 21, 2023

Independent Director recently sold €318k worth of stock

Investor sentiment improves as stock rises 17%

Upcoming dividend of US$0.10 per share at 5.6% yield

Full year 2023 earnings released: EPS: US$0.30 (vs US$0.034 in FY 2022)

Steelcase Inc. Appoints Nicole C. Mcgrath to the Position of Vice President, Corporate Controller & Chief Accounting Officer, Effective January 2, 2023

Third quarter 2023 earnings released: EPS: US$0.097 (vs US$0.082 in 3Q 2022)

Steelcase Inc. Provides Earnings Guidance for the Fourth Quarter Fiscal 2023

Steelcase Inc. to Report Q3, 2023 Results on Dec 19, 2022

Steelcase Announces Appointment of Sanjay Gupta to Board of Directors

Upcoming dividend of US$0.10 per share

Second quarter 2023 earnings released: EPS: US$0.17 (vs US$0.21 in 2Q 2022)

Steelcase Inc. Provides Earnings Guidance for the Third Quarter of Fiscal Year 2023

Steelcase Inc. Declares Quarterly Cash Dividend, Payable on or Before October 17, 2022

Investor sentiment deteriorated over the past week

Steelcase Inc. to Report Q2, 2023 Results on Sep 21, 2022

Senior VP recently sold €333k worth of stock

Upcoming dividend of US$0.14 per share

Steelcase Inc. Provides Revenue Guidance for the Second Quarter of Fiscal 2023

First quarter 2023 earnings released

Steelcase Inc. (NYSE:SCS) completed the acquisition of HALCON Corporation.

Steelcase Inc. to Report Q1, 2023 Results on Jun 22, 2022

Steelcase Inc. (NYSE:SCS) has signed a definitive agreement to acquire HALCON Corporation for approximately $130 million.

Steelcase Inc. to Report Q4, 2022 Results on Mar 23, 2022

Steelcase Inc. Provides Earnings Guidance for the Fourth Quarter of Fiscal Year 2022

Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint

Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint

Steelcase Unveils First-Of-Its-Kind Ergonomic Chair Designed for 21st Century Work

Steelcase Inc. Provides Earnings Guidance for the Third and Fourth Quarter Fiscal 2022

Second quarter 2022 earnings released: EPS US$0.21 (vs US$0.47 in 2Q 2021)

First quarter 2022 earnings released: US$0.25 loss per share (vs US$0.34 loss in 1Q 2021)

Steelcase Inc. Provides Earnings Guidance for the Second Quarter Ended August 27, 2021 and Second Half of Fiscal 2022

Vice President of Global Operations recently sold €58k worth of stock

Full year 2021 earnings released: EPS US$0.22 (vs US$1.67 in FY 2020)

Full year 2021 earnings released: EPS US$0.22 (vs US$1.67 in FY 2020)

Steelcase Inc. Provides Earnings Guidance for the First Quarter and Revenue Guidance for the Second Quarter and Second Half of 2022

Steelcase Introduces More Than 40 New Products For New Employee Needs In The Office

Steelcase Inc. to Report Q4, 2021 Results on Mar 23, 2021

New 90-day high: €11.90

New 90-day high: €11.60

New 90-day high: €11.20

Third quarter 2021 earnings released: EPS US$0.018

Revenue misses expectations

Steelcase Inc. Appoints Robin L. Zondervan to the Position of Corporate Controller and Chief Accounting Officer

Third quarter 2021 earnings released: EPS US$0.018

Revenue misses expectations

Steelcase Inc. to Report Q3, 2021 Results on Dec 17, 2020