James Bramwell
AvantorAbout James Bramwell
James Bramwell is Executive Vice President, Sales and Customer Excellence at Avantor (since January 2024) and is 58 years old as of February 3, 2025 . He previously led the Americas and Strategic Partners organizations, giving him deep commercial and channel experience across the portfolio . Company performance context during his recent tenure: 2024 revenue was $6,795 million versus a $6,908 million target (enterprise ICP funding 110.8%); Free Cash Flow achieved the plan maximum ($768.3 million); the 2022–2024 PSU cycle paid 0% as relative TSR ranked at the 13th percentile and cumulative adjusted EPS was below threshold, indicating strong pay-for-performance linkage .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Avantor | EVP, Sales and Customer Excellence | Jan 2024 – present | — |
| Avantor | EVP, Americas | Oct 2022 – Dec 2023 | — |
| Avantor | EVP, Strategic Partners | Nov 2017 – Oct 2022 | — |
| VWR | SVP, Strategic Partners & Global Export | Mar 2016 – Nov 2017 | — |
External Roles
- Not disclosed in company filings reviewed.
Fixed Compensation
| Item | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $500,000 | $500,000 |
| Target Bonus (% of Salary) | 80% (increased from 75% effective Apr 1, 2023) | 80% |
| Actual ICP Bonus ($) | $39,384 | $434,656 |
| Pension distribution (U.S. pension plan termination) | — | $195,638 lump-sum rollover (Dec 2024) |
Notes:
- 2024 ICP enterprise funding 110.8%; Bramwell individual strategic goals paid at 100% .
- Base salary unchanged in 2024; 2023 target bonus increased mid-year from 75% to 80% .
Performance Compensation
2024 Annual Incentive Plan (ICP) – Enterprise Metrics and Outcomes (applies to Bramwell)
| Metric (Weight) | Threshold | Target | Stretch | Actual | Outcome detail |
|---|---|---|---|---|---|
| Revenue (40%) | $6,390.0 | $6,908.0 | $7,426.0 | $6,795.0 | Contributed to 110.8% enterprise funding |
| Const.-Currency Adjusted Operating Income (20%) | $970.0 | $1,109.0 | $1,247.0 | $1,092.0 | Contributed to 110.8% enterprise funding |
| Free Cash Flow (10%) | $492.0 | $615.0 | $738.0 | $768.3 | Achieved maximum (200%) |
| GHG Emissions Reduction (5%) | 6% | 7% | 8% | 8% | 160% for metric |
| Inclusion Index (5%) | 7.4 | 7.8 | 8.2 | 7.9 | 125% for metric |
| Individual Strategic Goals (20%) | — | — | — | — | Bramwell payout at 100%; focus on revenue guidance, CX projects, new commercial model, expanded Lab Solutions leadership |
- 2024 enterprise ICP funding: 110.8% (Bramwell’s plan uses enterprise metrics) .
- Design: cash, 100% performance-based; rigorous pre-set goals; metric caps at 200% .
Long-Term Incentives (granted 2024)
| Instrument | Grant date | Quantity/Terms | Vesting/Measurement |
|---|---|---|---|
| Performance Stock Units (PSUs) | 2/23/2024 | Target 41,067 units (Bramwell) ; metrics 50% relative TSR (vs S&P 500 Health Care incl. peers), 50% adjusted EPS growth; payout 0–200% | 3-year performance period 2024–2026; cliff vest at end of period |
| Stock Options | 2/23/2024 | 50,204 options at $24.35 strike; expire 2/23/2034 | Vest ratably 1/3 per year on each anniversary of grant (2025–2027) |
| RSUs | 2/23/2024 | 20,533 units | Vest ratably 1/3 per year on each anniversary of grant (2025–2027) |
Recent PSU Payout Context
- The 2022–2024 PSU cycle paid 0%: cumulative adjusted EPS 3.46 vs 4.85 threshold; relative TSR at 13th percentile vs threshold 25th percentile .
Realized Value (2024)
- RSUs vested: 18,206 units; value realized $444,251 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 425,115 shares (as of March 3, 2025) |
| Options exercisable within 60 days | 378,762 (as of March 3, 2025) |
| Shares outstanding | 681,397,790 (context for % ownership; Bramwell <1%) |
| Outstanding equity awards (selected) | As of 12/31/2024: multiple option grants (2017–2024) with stated exercise prices/expirations; RSUs and PSUs outstanding per table |
| Ownership guidelines | CEO 6x salary; CFO & Segment Leaders 3x; Other Executive Officers 2x |
| Compliance with guidelines | Bramwell has met his ownership requirement as of 12/31/2024 |
| Hedging/pledging | Company policy prohibits hedging, short sales, margin, and pledging by directors and officers |
Selected outstanding award details (as of 12/31/2024):
- Options: e.g., 270,415 @ $23.21 exp. 12/13/2027; 36,496 @ $17.67 exp. 2/20/2030; 13,173/4,391 (exercisable/unexercisable) @ $27.64 exp. 2/25/2031; 8,741/8,742 @ $33.09 exp. 2/23/2032; 12,303/36,912 @ $24.62 exp. 2/24/2033; 0/50,204 @ $24.35 exp. 2/23/2034 .
- RSUs/PSUs: 20,533 RSUs unvested; 41,067 PSUs unearned (subject to 2024–2026 performance) .
Employment Terms
| Provision | Bramwell terms |
|---|---|
| Agreement | EVP Employment Agreement amended April 2, 2019 |
| Target bonus | 80% of salary (2024) |
| Severance (without cause, non-CIC) | 1x base salary paid over 12 months; 1x target bonus (prorated) over 12 months; 12 months medical; non-compete/non-solicit covenants (non-solicit of employees/customers for 2 years) |
| Severance (CIC + qualifying termination) | 1.5x base salary and 1.5x target bonus (paid over 12 months); 18 months medical |
| Equity on CIC | Double-trigger vesting adopted for all 2024 and future equity awards; earlier awards may have different treatment (see footnotes) |
| Clawbacks | Dodd-Frank-compliant restatement recovery policy plus an incremental clawback covering time-based equity for misconduct or detrimental activity |
| Tax gross-ups | No 280G excise tax gross-ups (only limited perquisite gross-ups for relocations/expatriate assignments) |
Potential payments (illustrative, as of 12/31/2024):
- Non-CIC involuntary termination total: $895,348 (cash severance $486,538; annual incentive $389,231; health benefits $19,579) .
- CIC without termination: equity value $1,523,677 .
- CIC with qualifying termination total: $4,164,611 (cash severance $729,807; annual incentive $583,846; equity $2,821,589; health benefits $29,368) .
Investment Implications
- Alignment and downside sensitivity: 0% payout on the 2022–2024 PSU cycle (below-threshold relative TSR and cumulative adjusted EPS) and double-trigger CIC equity for 2024+ awards underscore robust pay-for-performance and mitigate windfall risk .
- Retention vs. selling pressure: Meaningful unvested RSUs/PSUs and multi-year option schedules provide retention hooks, but scheduled annual vesting (and 2024 vested value of ~$444k) can create periodic sell-to-cover flows around vest dates .
- Incentive mix and operating focus: 2024 ICP weighted to revenue (40%), operating income (20%), and FCF (10%) with maximum FCF achievement supports cash discipline; inclusion and GHG goals (10% combined) reflect stakeholder alignment without dominating payouts .
- Contract risk: Severance terms (1x non-CIC; 1.5x CIC) are market-standard; no 280G gross-up; strong clawbacks and anti-hedging/pledging reduce governance red flags and perceived agency risk .