HNI Management

Management criteria checks 2/4

HNI's CEO is Jeff Lorenger, appointed in Apr 2018, has a tenure of 6.58 years. total yearly compensation is $7.10M, comprised of 14.4% salary and 85.6% bonuses, including company stock and options. directly owns 0.42% of the company’s shares, worth €10.87M. The average tenure of the management team and the board of directors is 5.4 years and 8.8 years respectively.

Key information

Jeff Lorenger

Chief executive officer

US$7.1m

Total compensation

CEO salary percentage	14.4%
CEO tenure	6.6yrs
CEO ownership	0.4%
Management average tenure	5.4yrs
Board average tenure	8.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Jeff Lorenger's remuneration changed compared to HNI's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 28 2024	n/a	n/a	US$124m
Jun 29 2024	n/a	n/a	US$114m
Mar 30 2024	n/a	n/a	US$65m
Dec 30 2023	US$7m	US$1m	US$49m
Sep 30 2023	n/a	n/a	US$43m
Jul 01 2023	n/a	n/a	US$68m
Apr 01 2023	n/a	n/a	US$111m
Dec 31 2022	US$6m	US$998k	US$124m
Oct 01 2022	n/a	n/a	US$116m
Jul 02 2022	n/a	n/a	US$72m
Apr 02 2022	n/a	n/a	US$59m
Jan 01 2022	US$9m	US$973k	US$60m
Oct 02 2021	n/a	n/a	US$74m
Jul 03 2021	n/a	n/a	US$86m
Apr 03 2021	n/a	n/a	US$81m
Jan 02 2021	US$5m	US$891k	US$42m
Sep 26 2020	n/a	n/a	US$67m
Jun 27 2020	n/a	n/a	US$82m
Mar 28 2020	n/a	n/a	US$86m
Dec 28 2019	US$4m	US$923k	US$111m
Sep 28 2019	n/a	n/a	US$95m
Jun 29 2019	n/a	n/a	US$89m
Mar 30 2019	n/a	n/a	US$92m
Dec 29 2018	US$3m	US$779k	US$93m
Sep 29 2018	n/a	n/a	US$95m
Jun 30 2018	n/a	n/a	US$92m
Mar 31 2018	n/a	n/a	US$87m
Dec 30 2017	US$1m	US$546k	US$90m

Compensation vs Market: Jeff's total compensation ($USD7.10M) is above average for companies of similar size in the German market ($USD1.90M).

Compensation vs Earnings: Jeff's compensation has increased by more than 20% in the past year.

CEO

Jeff Lorenger (58 yo)

6.6yrs

Tenure

US$7,102,944

Compensation

Mr. Jeffrey D. Lorenger, also known as Jeff, is Chairman of the Board at HNI Corporation since February 12, 2020. He serves as Independent Director at THOR Industries, Inc. since Febrary 1, 2024. Mr. Loren...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Jeffrey Lorenger	Chairman of the Board	6.6yrs	US$7.10m	0.42% € 10.9m
Marshall Bridges	Senior VP & CFO	7.8yrs	US$2.27m	0.12% € 3.1m
Steven Bradford	Senior VP	16.8yrs	US$1.59m	0.11% € 2.9m
Vincent Berger	Executive VP and President of Hearth & Home Technologies	6.8yrs	US$1.67m	0.13% € 3.4m
Brandon Bullock	President of The HON Company	6yrs	US$1.58m	0.033% € 840.9k
Jack Herring	VP of Corporate Finance & Treasurer	no data	no data	no data
Radhakrishna Rao	VP and Chief Information & Digital Officer	4.8yrs	no data	0.035% € 893.2k
Matthew McCall	Vice President of Investor Relations & Corporate Development	no data	no data	no data
Gregory Meunier	Executive Vice President of Global Operations - Kimball International	1.8yrs	no data	0.022% € 561.4k
Michael Roch	Chief Customer Officer of Kimball International	1.8yrs	no data	0.017% € 450.7k
Kourtney Smith	Chief Operating Officer of Kimball International	1.8yrs	no data	0.078% € 2.0m
Brian Smith Scott	President of Hearth & Home Technologies	less than a year	no data	0.028% € 722.3k

5.4yrs

Average Tenure

53.5yo

Average Age

Experienced Management: HO9's management team is seasoned and experienced (5.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Jeffrey Lorenger	Chairman of the Board	6.6yrs	US$7.10m	0.42% € 10.9m
Miguel Calado	Independent Lead Director	20.3yrs	US$226.15k	0.065% € 1.7m
Mary Bell	Independent Director	18yrs	US$207.60k	0.066% € 1.7m
Cheryl Francis	Independent Director	25.5yrs	US$224.90k	0.17% € 4.5m
Abbie Smith	Independent Director	24.3yrs	US$203.65k	0.071% € 1.8m
Larry Porcellato	Independent Director	20.3yrs	US$205.22k	0.033% € 846.5k
David Roberts	Director	less than a year	no data	0.0060% € 156.0k
Mary K. Jones	Independent Director	8.8yrs	US$218.65k	0.071% € 1.8m
John Hartnett	Independent Director	8.3yrs	US$208.65k	0.078% € 2.0m
Patrick Hallinan	Independent Director	2.2yrs	US$203.65k	0.025% € 638.2k
Dhanusha Sivajee	Independent Director	5.3yrs	US$218.65k	0.044% € 1.1m

8.8yrs

Average Tenure

63yo

Average Age

Experienced Board: HO9's board of directors are considered experienced (8.8 years average tenure).

HNI Management

Management criteria checks 2/4

Key information

Recent management updates

HNI Corporation Announces Chief Financial Officer Changes

HNI Corporation Elects David Roberts to its Board of Directors and Public Policy and Corporate Governance Committee

HNI Corporation, Annual General Meeting, May 16, 2024

Insufficient new directors

HNI Corporation Announces Election of Patrick D. Hallinan to its Board of Director

HNI Corporation Announces Retirement of Kurt Tjaden as Senior Vice President, Effective September 30, 2022

Recent updates

Third quarter dividend of US$0.33 announced

HNI Corporation Announces Quarterly Dividend, Payable on December 2, 2024

New minor risk - Shareholder dilution

Third quarter 2024 earnings released: EPS: US$1.00 (vs US$0.81 in 3Q 2023)

HNI Corporation Announces Chief Financial Officer Changes

HNI Corporation to Report Q3, 2024 Results on Oct 29, 2024

Second quarter dividend of US$0.33 announced

HNI Corporation Announces Quarterly Dividend, Payable on September 12, 2024

HNI Corporation to Report Q2, 2024 Results on Jul 25, 2024

HNI Corporation Elects David Roberts to its Board of Directors and Public Policy and Corporate Governance Committee

HNI Corporation Announces Plant Consolidation

HNI Corporation Increases Quarterly Dividend, Payable on June 12, 2024

First quarter 2024 earnings released: EPS: US$0.38 (vs US$0.039 in 1Q 2023)

HNI Corporation to Report Q1, 2024 Results on Apr 29, 2024

HNI Corporation, Annual General Meeting, May 16, 2024

Full year 2023 earnings released: EPS: US$1.11 (vs US$2.97 in FY 2022)

HNI Corporation Provides Revenue Guidance for the First Quarter and Full Year 2024

Third quarter dividend of US$0.32 announced

HNI Corporation Declares Quarterly Dividend, Payable on March 6, 2024

HNI Corporation to Report Q4, 2023 Results on Feb 22, 2024

HNI Corporation Announces Quarterly Dividend, Payable on December 1, 2023

Third quarter 2023 earnings released: EPS: US$0.81 (vs US$1.53 in 3Q 2022)

HNI Corporation to Report Q3, 2023 Results on Oct 31, 2023

HNI Corporation Announces Quarterly Dividend, Payable on September 8, 2023

New minor risk - Financial position

Second quarter 2023 earnings released: US$0.30 loss per share (vs US$0.72 profit in 2Q 2022)

HNI Corporation (NYSE:HNI) completed the acquisition of Kimball International, Inc. (NasdaqGS:KBAL) from BlackRock, Inc. (NYSE:BLK), The Vanguard Group, Inc., Dimensional Fund Advisors LP and others.

Upcoming dividend of US$0.32 per share at 5.0% yield

Hni Corporation Announces Quarterly Dividend, Payable on June 23, 2023

First quarter 2023 earnings released: EPS: US$0.039 (vs US$0.33 in 1Q 2022)

Hni Corporation Provides Earnings Guidance for the Second Quarter and Second Half of 2023

Investor sentiment deteriorates as stock falls 15%

Full year 2022 earnings released: EPS: US$2.97 (vs US$1.38 in FY 2021)

HNI Corporation Announces Quarterly Dividend, Payable on March 8, 2023

HNI Corporation to Report Q4, 2022 Results on Feb 23, 2023

Insufficient new directors

HNI Corporation Announces Quarterly Dividend, Payable on December 1, 2022

Third quarter 2022 earnings released: EPS: US$1.53 (vs US$0.44 in 3Q 2021)

HNI Corporation to Report Q3, 2022 Results on Oct 24, 2022

HNI Corporation Announces Election of Patrick D. Hallinan to its Board of Director

HNI Corporation Announces Retirement of Kurt Tjaden as Senior Vice President, Effective September 30, 2022

HNI Corporation Announces Quarterly Dividend, Payable on September 8, 2022

Second quarter 2022 earnings released: EPS: US$0.72 (vs US$0.40 in 2Q 2021)

HNI Corporation Reports Impairment Charges for the Three Months Ended July 2, 2022

Kokuyo Co., Ltd. (TSE:7984) agreed to acquire HNI Hong Kong Limited from HNI Corporation (NYSE:HNI) for ¥ 9176 million.

Kokuyo Co., Ltd. (TSE:7984) acquired Lamex Trading Co., Ltd. from HNI Corporation (NYSE:HNI) for $75 million.

HNI Corporation(NYSE:HNI) dropped from Russell 2000 Value-Defensive Index

HNI Corporation Announces Mr. Ronald V. Waters to Retire from the Board of Directors

HNI Corporation Declares Quarterly Dividend, Payable on June 8, 2022

First quarter 2022 earnings released: EPS: US$0.33 (vs US$0.35 in 1Q 2021)

Insufficient new directors

HNI Corporation to Report Q1, 2022 Results on Apr 28, 2022

HNI Corporation, Annual General Meeting, May 26, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

HNI Corporation Announces Quarterly Dividend, Payable on March 7, 2022

HNI Corporation to Report Q4, 2021 Results on Feb 28, 2022

Insufficient new directors

Third quarter 2021 earnings released: EPS US$0.44 (vs US$0.72 in 3Q 2020)

HNI Corporation Provides Earnings Guidance for the Third Quarter of 2021 and Full Year of 2022

Second quarter 2021 earnings released: EPS US$0.40 (vs US$0.29 in 2Q 2020)

HNI Corporation Announces Quarterly Dividend, Payable on June 1, 2021

First quarter 2021 earnings released: EPS US$0.35 (vs US$0.56 loss in 1Q 2020)

New 90-day high: €31.60

HNI Corporation Releases New 3D Commerce Apps

Full year 2020 earnings released: EPS US$0.98 (vs US$2.56 in FY 2019)

Revenue misses expectations

HNI Corporation to Report Q4, 2020 Results on Mar 01, 2021

HNI Corporation(NYSE:HNI) dropped from Russell 2000 Growth-Defensive Index

New 90-day low: €27.00