TheStreet looks into a mysterious member of the Lululemon board of directors, Rhoda Pitcher, a board member since 20015.
She also serves as a member on the compensation committee and is chair of the nominating and governance committee. A 2013 proxy statement for the annual shareholders meeting said that the board selected Pitcher because of her extensive experience in “management consulting, culture development and strategic planning.”
Pitcher was compensated well during a time when Wilson says the company was being run poorly. In 2010, she made $157,650 in cash, stock and options awards, and $172,428 in 2011. The following year, she earned $183,013 in stock awards. Pitcher made $194,007 in 2013. And in 2014, she earned $206,904, and $217,257 last year. Pitcher was also just awarded an additional 1,772 shares on June 10. This puts her total holding in Lululemon at 21,932 shares, according to Bloomberg data.
But according to some sharp investigative work by Anders Keitz, it turns out that her academic credentials and professional affiliations are at best sketchy.
Her biography on Lululemon’s corporate website states that she holds a master’s degree in “organization development” from University Associates Inc. But that institution appears to be unaccredited, as a search for “University Associates” on a U.S. Department of Education website yielded no results. Furthermore, a Google Map search of the address shows a residential home in Tucson, Ariz.
Pitcher’s bio also states that she founded her own consulting firm, Rhoda M. Pitcher Inc., in 1996, providing “services in organizational strategy and the building of executive capability to Fortune 500 corporations, institutions, start-ups and non-profits.” But the company does not have any web presence, contact information or identifiable clients.
This would be a good time to ask some questions of the nominating and governance committee, if she was not its chair.