Company: SXT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001140361-25-008248
Chunk: 21

Company: SENSIENT TECHNOLOGIES CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 21
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 with the finding that “[t]here is little research support for requiring a separation of these roles. Most research finds that the independence status of the chairman is not a material indicator of firm performance or governance quality.” David F. Larcker and Brian Tayan, Chairman and CEO: The Controversy Over Board Leadership Structure(Stanford 2016) (summarizing research); see also David F. Larcker and Brian Tayan, Loosey-Goosey Governance: Four Misunderstood Terms in Corporate Governance(Stanford 2019) (concluding that “research shows no consistent benefit from requiring an independent chair” and “the independence status of the chairman has no relation to governance quality.”).

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Moreover, in 2014, the Board created the position of Lead Director to facilitate the administration of Board functions and to enhance corporate governance practices. The Board elects a Lead Director from among the independent directors. Our current Lead Director is Dr. Carleone. The Lead Director coordinates the activities of the independent directors and performs such other duties and responsibilities as the Board may determine, including the following:

| • | presides at all meetings of the Board at which the Chairman is not present, including executive sessions of the independent and non-management directors; |

| • | serves as the principal liaison between the Chairman and the independent directors; |

| • | reviews in advance all information sent to the Board, including the quality, quantity, appropriateness, and timeliness of such information; |

| • | approves meeting agendas for the Board; |

| • | approves the frequency of Board meetings and meeting schedules, assuring there is sufficient time for discussion of all agenda items; and |

| • | obtains advice and counsel from the General Counsel, to the extent requested by the Lead Director and where appropriate, related to fulfilling the Lead Director’s duties. |

The Company’s independent directors meet at regularly scheduled executive sessions without management at least three times per year. During 2024, the independent directors held four executive sessions. The use of executive sessions of the Board, the Board’s strong committee system, the substantial majority of independent directors (currently eight out of ten), and the service of our Lead Director, allow the Board to maintain effective risk oversight and provide that independent directors oversee the Company’s financial statements, the executive compensation program, the selection and evaluation of directors, and the development and implementation of our corporate governance programs. This proxy statement describes our philosophy, policies, and practices regarding corporate governance, risk management, and executive compensation