Richard H. Fearon
About Richard H. Fearon
Richard H. Fearon, age 69, is the Non-Executive Chairman of Avient’s Board and has served as a director since 2004. He is the retired Chief Financial and Planning Officer and former Vice Chairman of Eaton plc (CFO: 2002–2021; Vice Chairman: 2009–2021). He previously held senior roles at Transamerica Corporation, NatSteel Limited, and The Walt Disney Company, and brings deep finance, corporate development, risk management, and investor relations expertise to Avient’s board. He was Avient’s independent Lead Director from 2015–2023 and has served as Non-Executive Chairman since 2023 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Eaton plc | Chief Financial and Planning Officer | 2002–2021 | Led accounting, control, corporate development, IT, internal audit, IR, strategic planning, tax, treasury; extensive finance and governance leadership . |
| Eaton plc | Vice Chairman | 2009–2021 | Senior leadership oversight and corporate governance . |
| Transamerica; NatSteel; The Walt Disney Company | Senior roles | Not disclosed | Large diversified company experience (finance and operations) . |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Waters Corporation | Director | Current | Public company board . |
| Crown Holdings, Inc. | Director | Current | Public company board . |
| CRH plc | Director | Current | Public company board . |
| Eaton plc | Director | Former | Prior public company board . |
| Southern Steel Bhd | Director | Former | Prior public company board . |
| Centurion Industries, Ltd. | Director | Former | Prior public company board . |
| Hennessy Capital Investment Corp. VI | Director | Former | Prior public company board . |
Board Governance
- Independence: Avient’s Board determined Fearon is independent under NYSE and company categorical standards .
- Leadership: Non-Executive Chairman; presides over executive sessions, approves agendas/schedules, liaises with CEO, interviews board candidates, and coordinates across committee chairs .
- Committees: Compensation Committee (member); Governance & Corporate Responsibility Committee (chair) .
- Meetings: 2024 meetings held—Audit (7), Compensation (5), Governance & Corporate Responsibility (2), Environmental, Health & Safety (2) .
- Attendance: Board met six times; each director attended at least 75% of Board and committee meetings; all directors attended the 2024 annual meeting .
Fixed Compensation
| Component | Amount | Details |
|---|---|---|
| Annual Cash Retainer | $110,000 | Paid quarterly; no fees for scheduled meetings . |
| Non-Executive Chairman Retainer | $130,000 | Additional fixed annual cash retainer, paid quarterly . |
| Committee Chair Retainer (G&CRC) | $20,000 | Increased from $15,000 effective Q3 2024 . |
| Unscheduled Meeting Fees | $2,000 / $1,000 | $2,000 for unscheduled meetings; $1,000 for significant telephonic unscheduled meetings . |
| 2024 Cash Fees (Actual) | $257,500 | Includes Non-Executive Chairman service; paid to Fearon . |
Performance Compensation
| Component | Amount/Value | Vesting/Structure |
|---|---|---|
| Annual Equity Retainer (Target) | $140,000 → $155,000 | Increased effective Q3 2024; fully vested common shares; payable quarterly; deferrable . |
| 2024 Stock Awards (Actual) | $143,324 | Fully vested shares for 2024; deferrable; calculated using quarterly FMVs and rounding . |
| Quarterly FMVs (reference) | $43.40; $43.65; $50.32; $40.86 | March 28, 2024; June 28, 2024; Sept 30, 2024; Dec 31, 2024; example share counts per quarter 808 / 806 / 775 / 834 . |
- No director options or performance-share awards were disclosed; non-employee director equity is delivered as fully vested common shares with an emphasis on alignment rather than performance metrics .
Other Directorships & Interlocks
| Company | Industry link to Avient | Potential Interlock/Conflict Note |
|---|---|---|
| Crown Holdings, Inc. | Packaging end markets may use colorants/engineered materials | No related person transactions disclosed; independence affirmed . |
| CRH plc | Building materials end markets may use composites/additives | No related person transactions disclosed; independence affirmed . |
| Waters Corporation | Life sciences instrumentation | No related person transactions disclosed; independence affirmed . |
Expertise & Qualifications
- Finance and capital markets; M&A; financial reporting (financial knowledge) .
- International operations; industry expertise in specialty materials/chemicals .
- Corporate governance; human capital; sustainability .
- IT/cybersecurity oversight; board-level risk management .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Beneficial Ownership (shares) | 142,321 | As of Feb 28, 2025; less than 1% of shares outstanding (91,532,542) . |
| Deferred Shares | — | No fully-vested deferred shares held . |
| Ownership Guidelines | 12,500 shares | Must meet within five years; all directors meet or on track; 100% retention of shares until guideline met . |
| Hedging/Pledging | Not disclosed for directors | Company prohibits NEO hedging/pledging; directors subject to retention; no pledging disclosed in proxy . |
Governance Assessment
- Strengths: Independent Non-Executive Chairman role with robust responsibilities; committee leadership (G&CRC) and compensation oversight; clear independence; strong director equity ownership requirement and alignment; no related person transactions in 2024; board and committee independence confirmed .
- Alignment signals: Mix emphasizes equity for directors; stock ownership guideline set above 4x annual cash retainer; Fearon’s 142,321-share ownership substantially exceeds guideline, reinforcing alignment .
- Pay practices: Director pay periodic review against peers; higher chair retainers and equity retainer effective Q3 2024 to maintain competitiveness; emphasis on equity over meeting fees .
- Risk/RED FLAGS to monitor:
- Overboarding potential: Fearon serves on three other public boards while acting as Avient’s Non-Executive Chairman; monitor time-commitment and potential conflicts across packaging, building materials, and life sciences ecosystems .
- No related-party or pledging issues disclosed; board independence and majority voting policy mitigate governance risk .
- Shareholder signals: 2024 Say-on-Pay support >96% (for NEOs), indicating broad investor confidence in Avient’s compensation governance framework overseen by the board .