William A. Wulfsohn
About William A. Wulfsohn
Independent director at Avient Corporation since 2011; age 63. Former Chairman and CEO of Ashland Global Holdings Inc., with prior CEO roles in specialty materials and industrials; brings international operating experience across Europe and Asia/Pacific and extensive public-company leadership credentials. Current public-company directorship: Modine Manufacturing Company; prior boards include Ashland Global, Carpenter Technology, Valvoline Inc., and Anzu Special Acquisition Corp I .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ashland Global Holdings Inc. | Chairman & CEO | 2015–2019 | Led specialty chemicals transformation; public-company CEO experience |
| Carpenter Technology Corporation | President & CEO; Director | CEO 2010–2014; Director 2009–2014 | Specialty metals operations; international management |
| Valvoline Inc. | Non‑Executive Chairman | 2016–2018 | Oversight of spin and governance at lubricant producer |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Modine Manufacturing Company | Director | Current | Only current public-company board listed |
| Ashland Global Holdings Inc. | Director | Former | Specialty chemicals |
| Carpenter Technology Corporation | Director | Former | Specialty metals |
| Valvoline Inc. | Director; Non‑Executive Chair | Former | Automotive lubricants |
| Anzu Special Acquisition Corp I | Director | Former | SPAC |
Board Governance
- Independence: Board affirmatively determined Wulfsohn is independent under NYSE and Avient categorical standards .
- Committee assignments: Member, Audit Committee (AC) and Compensation Committee (CC); identified as an SEC “audit committee financial expert.” AC held 7 meetings and CC held 5 meetings in 2024 .
- Attendance and engagement: Board met six times in 2024; every director attended at least 75% of aggregate Board and committee meetings and all directors attended the 2024 annual meeting .
- Board leadership and executive sessions: Non‑Executive Chairman (Richard H. Fearon) presides over executive sessions of independent directors; sessions held regularly at Board and committee meetings .
Fixed Compensation
- Program structure: Non‑employee directors receive an annual retainer of $257,500 (cash $110,000; equity targeted value increased to $155,000 starting Q3 2024), plus chair retainers (not applicable to Wulfsohn) and limited fees only for unscheduled meetings; no regular meeting fees .
| Component (FY2024) | Amount | Notes |
|---|---|---|
| Cash fees | $110,000 | Standard cash retainer |
| Stock awards (fully vested common shares) | $143,324 | Quarterly grant; fully vested; fair values used per ASC 718 |
| Total | $253,324 | Sum of cash and stock awards |
- Stock award mechanics: Quarterly shares determined by average of high/low on last trading day of quarter; 2024 per-share values of $43.40 (Mar), $43.65 (Jun), $50.32 (Sep), $40.86 (Dec) .
Performance Compensation
- Director pay at Avient is not performance‑based; equity is fully vested on grant . However, as a Compensation Committee member, Wulfsohn oversees executive pay tied to objective metrics:
| 2024 Corporate Annual Incentive (NEO plan overseen by CC) | Weight | Target Framework | 2024 Result | Payout % |
|---|---|---|---|---|
| Adjusted Operating Income (Consolidated) | 70% | Target $330.0mm | Actual $350.7mm | 200.0% |
| Working Capital as % of Sales (Consolidated) | 20% | Target 12.3% | Actual 12.0% (lower is better) | 176.0% |
| Sustainability Objectives | 10% | Safety, engagement, energy/waste | Exceeded safety/engagement & waste; energy not met | 150.0% |
| Total Attainment (Corporate) | — | — | — | 190.2% |
- Long‑term incentives: CC uses adjusted EPS‑based cash performance units across annual and cumulative periods and stock‑settled SARs with stock‑price hurdles; 2024 SAR price hurdles were met but vesting remains time‑based over 3 years; 2022–2024 performance units paid at 14% of target, evidencing rigor in goal‑setting .
Other Directorships & Interlocks
- Other public boards on Avient’s slate: Wulfsohn has one other public-company board; several Avient directors serve on other boards, but no related‑party transactions were disclosed for 2024 and the Board affirmed independence for all committees .
Expertise & Qualifications
- Skills matrix: Financial knowledge, international experience, industry expertise, operations, human capital, corporate governance, and sustainability are marked for Wulfsohn; IT/cyber not highlighted .
- Audit committee financial expert designation underscores depth in financial reporting and controls .
Equity Ownership
- Beneficial ownership (as of Feb 28, 2025): 56,319 shares; less than 1% of outstanding .
- Deferred shares: 56,319 fully‑vested deferred shares held in the Director Deferred Compensation Plan (includes dividend reinvestment) .
- Stock ownership guidelines: Directors must hold at least 12,500 shares within five years; all Directors meet or are on track. Wulfsohn’s holdings exceed guideline multiple .
| Ownership Detail | Shares | % of Class |
|---|---|---|
| Total beneficial ownership | 56,319 | <1% |
| Fully‑vested deferred shares | 56,319 | — |
| Guideline requirement | 12,500 | — |
Governance Assessment
- Independence and committee roles: Strong independence posture with Wulfsohn serving on two key committees (Audit and Compensation), including designation as an audit committee financial expert—positive for board effectiveness and oversight of financial reporting and executive pay .
- Attendance & engagement: Board and committee attendance expectations met; all directors attended 2024 annual meeting—supports active governance .
- Pay‑for‑performance oversight: As CC member, Wulfsohn oversees executive incentives tied to tangible operating metrics (AOI, working capital, sustainability), with disciplined long‑term adjusted EPS goals (low payout 14% for 2022–2024 cycle)—signals rigor rather than pay inflation .
- Director compensation mix and alignment: Balanced cash/equity mix, fully‑vested shares, and robust ownership guidelines; Wulfsohn’s ownership exceeds guideline, aligning interests with shareholders .
- Conflicts and related‑party exposure: No related person transactions in 2024; Board maintains formal policy with Audit Committee pre‑approval—no red flags noted .
- Shareholder sentiment: Prior say‑on‑pay approval >96% indicates broad investor support for compensation frameworks overseen by the Compensation Committee .
- Red flags: None disclosed regarding pledging/hedging of director stock, tax gross‑ups, option repricing, or governance controversies; committees fully independent; robust audit tenure oversight of EY with annual fee review .