Chris Villavarayan
Also at Axalta Coating Systems Ltd
About
Chris Villavarayan has built a solid foundation with an education in civil engineering and advanced finance, reflecting a commitment to both technical and strategic development.
He enjoyed a 22-year career at Meritor, Inc., where he held several leadership roles including CEO and President, Executive Vice President and Chief Operating Officer, and Senior Vice President and President – Global Truck, positions that honed his expertise in global operations and strategic oversight.
Since joining AXTA as Chief Executive Officer and President on January 1, 2023, he has driven key strategic initiatives and contributed to the company’s growth, while also leveraging his leadership experience through board roles and non-profit involvement.
$AXTA Performance Under Chris Villavarayan
Past Roles
External Roles
Fixed Compensation
Performance Compensation
Annual Bonus Plan (Non-Equity Incentive Compensation)
Bonus Details:
- Target Bonus Amount: $1,250,000
- Total Weighted Bonus Payout Percentage: 155%
- Actual Award: $1,940,000
Long-Term Equity Incentive Awards (Stock Awards)
Performance Stock Units (PSUs):
- Grant Date: February 28, 2023
- Threshold: 56,879 shares
- Target: 113,758 shares
- Maximum: 227,516 shares
- Grant Date Fair Value: $4,137,947
- Vesting: Subject to performance conditions over a three-year cycle (2023–2025); vesting determined by the Compensation Committee
- Performance Metrics: Include measures such as adjusted EBIT, free cash flow, adjusted EBIT margin, adjusted EBITDA, relative total shareholder return, adjusted EPS, and return on invested capital, though specific numerical thresholds for 2023 are not disclosed
Restricted Stock Units (RSUs):
- Grant Date: February 28, 2023
- Number of Shares: 75,839 shares
- Grant Date Fair Value: $2,260,002
- Vesting: Vest in three approximately equal annual installments on the anniversaries of the grant date, contingent on continued employment
This section details the performance compensation components for 2023, covering both cash-based and share-based awards with relevant performance criteria, vesting conditions, and payout results.