Robert Hoffman
CENTURY ALUMINUMAbout Robert Hoffman
Robert Hoffman is Senior Vice President, Chief Information Officer and Chief Accounting Officer at Century Aluminum (CENX), appointed December 2024; he also serves as the company’s principal accounting officer following Theresa Brainerd’s departure . He joined Century in October 2004 and previously served as Director of FP&A (2015–2017), CIO (2017–2021), and Vice President, CIO & CAO (2021–2024) . Education and credentials: B.S. Accounting (Golden Gate University), Master of Business in Finance (Saint Mary’s College of California), and Certified Public Accountant . Company performance context during his executive tenure includes 2024 GAAP net income of $319 million, adjusted EBITDA of $244 million, and relative TSR materially above peers, supporting PSU vesting at 145.6% of target for the 2022–2024 cycle .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Century Aluminum | SVP, CIO & CAO; designated Principal Accounting Officer | Dec 2024–present | Elevated to principal accounting officer; oversees finance reporting and IT; succession after PAO departure . |
| Century Aluminum | VP, CIO & CAO | Jun 2021–Dec 2024 | Combined oversight of accounting and IT; executive officer listing in proxy . |
| Century Aluminum | Chief Information Officer | Jun 2017–May 2021 | Led enterprise IT during operational initiatives and growth . |
| Century Aluminum | Director, Financial Planning & Analysis | May 2015–May 2017 | Led FP&A, supporting budgeting and performance management . |
| Century Aluminum | Various roles since joining | Oct 2004–present | Long-tenured executive with finance and IT leadership . |
External Roles
No external public company directorships or related-party arrangements disclosed for Hoffman; 8‑K notes no family relationships or related transactions requiring disclosure .
Company Performance Context (for incentive linkage)
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| GAAP Net Income ($USD Millions) | $(167) | $(14) | $(43) | $319 |
| Relative TSR (% of Avg. TSR Comparators) | 71.9% | 64.3% | 151.7% | 167.2% |
| Company TSR – $100 initial value | $220 | $109 | $162 | $242 |
| Peer Group TSR – $100 initial value | $296 | $226 | $169 | $188 |
| 2024 Operational Highlights (context) | 690k tonnes produced; adjusted EBITDA $244M; DOE selected $500M grant for new U.S. smelter |
Fixed Compensation
- Hoffman’s specific base salary, target bonus %, and actual bonus are not disclosed in the NEO compensation tables; the proxy does not provide individual compensation details for him (he is listed as an executive officer but not as a 2024 NEO) .
- Century’s program structure for executives includes base salary reviewed annually against peers, an annual cash AIP with 0–200% payout range, and equity-based LTIP awards; details apply broadly but are quantified in the proxy primarily for NEOs .
Performance Compensation
| Component | Weighting (indicative) | Metric | Vesting / Measurement | Notes |
|---|---|---|---|---|
| Annual Incentive Plan (AIP) – Company metrics | 70% | Financial, operational, safety metrics | Annual; payout 0–200% per metric | 2024 FOS component achieved 106% of target (company-wide) . |
| Annual Incentive Plan – Individual criteria | 30% | Role-specific objectives | Annual; 0–200% | CEO’s individual criteria assessed at 180% for 2024; other NEOs averaged 113% . |
| LTIP – Time-Vested Stock Units (TVSUs) | 40% CEO; 50% other NEOs | Time-based | Cliff vest at 3 years | Aligns retention; granted annually . |
| LTIP – Performance Share Units (PSUs) | 60% CEO; 50% other NEOs | Relative TSR vs industry peers | Two-year (50%) and three-year (50%) measurement; 0–200% payout | Strategic Objective Modifier allows ±30 percentage points adjustment at Committee discretion . |
| 2022–2024 PSU outcome (context) | — | Relative TSR | Vested at 145.6% of target | Reflects strong multi-year TSR vs peers . |
Note: The proxy provides detailed outcomes and grant sizing for NEOs; Hoffman’s individual AIP and LTIP grants/outcomes are not itemized in the filing .
Equity Ownership & Alignment
| Item | Policy/Value | Disclosure / Status |
|---|---|---|
| Stock ownership guidelines – Senior Vice Presidents | 18,000 shares required within 5 years of promotion | Guidelines apply; compliance status for non‑NEO executives (incl. Hoffman) not individually disclosed . |
| Hedging, pledging, margin use | Prohibited for officers/directors/employees; minimum six‑month holding for open‑market purchases | Policy reduces misalignment and selling pressure risk . |
| Beneficial ownership (directors/executive officers) | Each individual <1% of outstanding shares; group total 712,128 shares | As of April 21, 2025; individual holdings, including Hoffman’s, are below 1% threshold . |
| Shares outstanding (context) | 93,296,937 | Record date for 2025 proxy . |
Employment Terms
| Topic | Terms |
|---|---|
| Appointment & role | Promoted to SVP, CIO & CAO and designated principal accounting officer on Dec 9, 2024; no special arrangements, no family relationships, no related transactions . |
| Employment agreements | Company states NEOs are at‑will with no employment agreements; no separate agreement disclosed for Hoffman . |
| Severance – outside change in control | Executive Severance Plan provides base salary severance of 0.5x (Tier 3), 1.0x (Tier 2), 1.5x (Tier 1) plus pro‑rata AIP for terminations without cause/good reason outside CIC/acquisition windows . |
| Severance – qualifying acquisition | Multiples of base salary and target bonus: 0.5x (Tier 3), 1.0x (Tier 2), 1.5x (Tier 1); plus pro‑rata AIP and pro‑rata LTIP at target . |
| Severance – change in control (double trigger) | Multiples of base salary+target bonus: 1.0x (Tier 3), 1.5x (Tier 2), 2.0x (Tier 1); full LTIP at target; pro‑rata AIP . |
| LTIP treatment on termination | TVSUs and PSUs prorate for retirement/disability/death/acquisition; 100% target vesting upon double‑trigger CIC . |
| Clawback | Incentive Compensation Recoupment Policy compliant with Nasdaq/SEC; recovery for restatements and misconduct; can cancel awards and recover gains . |
Note: The proxy specifies tiers for CEO and other NEOs; Hoffman’s specific tier is not disclosed .
Compensation Peer Group (benchmarking context)
Peer group used to set 2024 target compensation levels: ATI, Carpenter Technology, Eagle Materials, Gibraltar Industries, Kaiser Aluminum, Koppers Holdings, Materion, Metallus, Minerals Technologies, Mueller Industries, Radius Recycling, SunCoke Energy, Valmont Industries, Warrior Met Coal, Worthington Steel . Industry Peer Group used for PSU relative TSR: Alcoa, Norsk Hydro, Aluminum Corp. of China, United Co. Rusal .
Say‑on‑Pay & Shareholder Feedback
2024 advisory say‑on‑pay approval was 85%, and the Committee made no program changes for 2024 in response .
Investment Implications
- Alignment: LTIP PSUs tied to relative TSR, plus three‑year cliff TVSUs, anchor pay to shareholder outcomes and encourage retention, limiting near‑term selling pressure from vesting cadence .
- Policy safeguards: Prohibitions on hedging/pledging and a robust clawback reduce misalignment and governance risk; individual officer ownership is below 1%, mitigating concentrated insider selling risk .
- Performance tailwinds: Multi‑year relative TSR outperformance (2024 relative TSR 167.2%) and 2022–2024 PSU vesting at 145.6% reflect execution against strategic initiatives (DOE grant selection, casthouse completion, Jamalco integration), supporting confidence in incentive realizability if momentum persists .
- Retention and change‑in‑control economics: Double‑trigger CIC provisions and tiered severance multiples balance retention with shareholder-friendly mechanics; absence of an individual employment agreement for Hoffman suggests standard plan-based protections rather than outsized bespoke terms .