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Timothy J. Donahue

Chairman, President, and Chief Executive Officer at CROWN HOLDINGS
Board
Since 2016
Age
62 years
Tenure
Joined as a Board Director in 2015 and later assumed the roles of Chairman, President, and Chief Executive Officer, with a promotion to Chairman of the Board in 2022.

Also at CROWN HOLDINGS

CB
Carlos Baila
President – Asia Pacific Division
CLK
Christy L. Kalaus
Vice President and Corporate Controller
DNJ
Djalma Novaes, Jr.
President – Americas Division

About

Timothy J. Donahue is the current Chairman, President, and Chief Executive Officer at Crown Holdings, Inc., leading the company with significant strategic initiatives and operational excellence. At 62 years old , his leadership has been instrumental in achieving key financial milestones, including a record adjusted free cash flow of $814 million and a net debt reduction of $878 million in 2024.

Having joined Crown Holdings in 2015 as a Board Director , he steadily advanced through leadership roles. His career trajectory highlights a continuous commitment to driving growth and innovation within the company, culminating in his promotion as Chairman of the Board following the 2022 Annual Meeting.

Under his stewardship, the company has executed transformative initiatives such as the successful beverage can expansion program initiated in 2019, which involved the development of new plants in Mesquite, Nevada, and Peterborough, U.K.. Additionally, his strategic decisions to enhance operational efficiencies and reconfigure production capacity have positioned Crown Holdings well for future challenges.

While the documents do not provide further personal background or details regarding his educational achievements, his professional record underscores a career marked by impactful decisions and a forward-looking vision for the company.

$CCK Performance Under Timothy J. Donahue

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Base Salary$1,370,000 2023Annual base salary for 2023
Defined Contribution Plan Company Contributions$4,950 2023Fixed contribution component reported in 2023
Other Fixed Compensation (FICA on Change in SERP Valuation)$8,111 2023Compensation related to SERP valuation adjustments
Relocation Expenses$52,729 2023One-time relocation expense for 2023

Performance Compensation

Data from  FY 2023

Annual Incentive Bonus

MetricThresholdTargetActualWeightingAdditional Details
Economic Profit (EP)$501.0M $626.2M $569.8M 27.5% Measured as net operating profit after tax less cost of capital
Modified Operating Cash Flow (MOCF)$927.2M $1,159.0M $1,297.4M 125% EBITDA adjusted for capital spending and working capital changes
  • Target Bonus as a % of Base Salary: 135%
  • Target Bonus Amount: $1,849,500
  • Actual Bonus Amount: $2,820,488
  • Evaluation Period: Calendar year 2023
  • Payout Factor: 152.5% of target bonus

Equity Awards from Incentive Compensation

Award TypeShares / UnitsVesting ScheduleGrant DateGrant Date Fair Value / Stock PriceAdditional Details
Time-based Restricted Stock31,556 shares 10,519 shares on Jan 4, 2024; 10,519 shares on Jan 6, 2025; 10,518 shares on Jan 5, 2026 Jan 4, 2023 $81.04 Vesting over three years
Performance-Based Restricted Stock
- TSR-Based Award27,404 target shares Cliff vest on Jan 5, 2026 after a 3-year period (Jan 1, 2023 to Dec 31, 2025) Jan 4, 2023 $93.32 per share Vesting based on Total Shareholder Return relative to industry peers; maximum up to 54,808 shares if in the 90th percentile
- ROIC-Based Award31,835 target shares Cliff vest on Jan 5, 2026 Jan 4, 2023 $80.33 per share Vesting based on company ROIC performance; thresholds: below 12.0% = 0%, 12.0% = 25%, 13.0% = 100%, 14.0%+ = 200%

Summary

The 2023 performance compensation for Timothy J. Donahue includes an Annual Incentive Bonus based on Economic Profit and Modified Operating Cash Flow metrics, along with equity awards. The Annual Incentive Bonus had target and actual payouts of $1,849,500 and $2,820,488, respectively, driven by performance metrics for EP and MOCF. In addition, two performance-based equity awards were granted:

  • The TSR-Based Award grants a target of 27,404 shares, with vesting contingent on Total Shareholder Return performance relative to the Dow Jones U.S. Containers & Packaging Index, and may vest up to 54,808 shares at the 90th percentile.

  • The ROIC-Based Award grants a target of 31,835 shares that vest based on the company’s Return on Invested Capital performance, with vesting thresholds of 12.0% (25%), 13.0% (100%), and 14.0% or above (200%).

All performance-based awards have a grant date of January 4, 2023 and vest on January 5, 2026 (except for the time-based stock awards which vest progressively over three years), with reported grant date fair values provided for each award component. This comprehensive structure aligns incentive payouts with both short-term and long-term performance metrics.