Rene Hemsey
CHURCH & DWIGHT CO INC /DE/About Rene Hemsey
Rene M. Hemsey, age 57, is Executive Vice President, Chief Human Resources Officer at Church & Dwight, serving in this role since April 2022; she joined the company in August 2001 and advanced through HR leadership roles including VP (2017–2020) and EVP, Global HR (2020–2022) . Prior to Church & Dwight, Hemsey held several human resources roles at Symrise . Company performance context for incentive alignment in 2024: $6.1B net sales, 45.7% gross margin, $1.16B cash from operations, adjusted diluted EPS $3.44, and 12.0% total shareholder return, with annual incentives tied to five balanced metrics .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Church & Dwight | EVP, Chief Human Resources Officer | Apr 2022–present | Leads global human capital strategy and executive succession |
| Church & Dwight | EVP, Global Human Resources | Feb 2020–Mar 2022 | Drove enterprise HR programs and talent development |
| Church & Dwight | VP, Human Resources | Dec 2017–Feb 2020 | Led HR operations and policy modernization |
| Church & Dwight | Director, Human Resources | Oct 2009–Dec 2017 | Built HR processes and leadership pipeline |
| Church & Dwight | Various HR positions | Aug 2001–Oct 2009 | Progressive HR roles as foundation for leadership |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Symrise | Human Resources roles | Not disclosed | Prior HR experience before Church & Dwight |
Fixed Compensation
- Individual base salary, target bonus %, and actual bonus for Hemsey are not disclosed (she was not a named executive officer in 2024) .
- Company-wide practices: majority of executive pay is variable and performance-based; CEO 89% variable, other NEOs ~70% on average . Annual base salary adjustments for executives are set via peer benchmarking by the Compensation & Human Capital Committee with Semler Brossy advising .
Performance Compensation
Annual Incentive Plan (AIP) structure relevant to Hemsey
- Five equally weighted metrics: Net Sales, Relative Gross Margin (replaced by absolute Gross Margin starting 2025), Adjusted Diluted EPS, Cash from Operations, Strategic Initiatives (balanced scorecard) .
- 2024 company performance outcomes:
| Performance Measure (20% each) | Threshold | Target (Plan rating 1.2) | Maximum | Actual (as adjusted) | Rating |
|---|---|---|---|---|---|
| Net Sales ($mm) | $5,858 | $6,102 | $6,346 | $6,122 | 1.27 |
| Relative Gross Margin (percentile) | <25th | 55th | 80th | 44th | 0.82 |
| Adjusted Diluted EPS ($) | $3.28 | $3.42 | $3.56 | $3.47 | 1.51 |
| Cash from Operations ($mm) | $927 | $1,030 | $1,133 | $1,159 | 2.00 |
| Strategic Initiatives | 0.75–1.50 scale | 0.75–1.50 | 0.75–1.50 | Scorecard result | 1.34 |
- Corporate performance rating for 2024: 1.39, with payouts scaled off individual targets; design intended to balance short- and long-term drivers and mitigate short-term risk-taking .
Long-Term Incentives (LTI) design relevant to Hemsey
| Instrument | Weight | Vesting | Performance Basis | Key Terms |
|---|---|---|---|---|
| Stock Options | 75% of LTI grant value (executives) | Cliff vest on 3rd anniversary | Stock price appreciation | 10-year term; exercise price = closing price at grant; repricing prohibited without shareholder approval |
| Performance Stock Units (PSUs) | 15% | 3-year performance period | Relative TSR vs Performance Peer Group | Pro-rated vesting at target upon qualifying termination after change-in-control per 2024 PSU terms |
| Restricted Stock Units (RSUs) | 10% | 3-year ratable vest (annual installments) | Time-based | Settles in shares; aligns with stock price changes |
| Grant Timing | — | — | — | Annual grants on first trading day of March; off-cycle awards on 10th trading day (except Feb → Mar 1) |
Equity Ownership & Alignment
| Policy | Requirement | Applies to |
|---|---|---|
| Executive stock ownership guidelines | CEO 6.0x salary; CFO 3.0x; EVP 2.5x salary | All executive officers, including CHRO |
| Counting toward guidelines | Shares, RS/RSUs, ESOP/ESPP, deferred share equivalents, trust holdings; options excluded since Apr 27, 2022 amendment | Executives |
| Compliance status | Executives are on track to meet guidelines within 5 years of the amendment or role start | Executives |
| Hedging/pledging | Prohibited: no short sales, hedging, pledging, margin purchases, standing orders | Directors, officers, employees |
| Clawbacks | Mandatory clawback for material misstatements; supplemental clawback covers cause and covenant violations; embedded in AIP and Omnibus plans | |
| Pledging by insiders | No shares of directors and executive officers in the ownership table were pledged |
Employment Terms
| Provision | Term | Notes |
|---|---|---|
| Change-in-control (CIC) cash severance | 2x base salary + 2x target AIP bonus for executive officers; CEO 3x | Double trigger required (CIC + qualifying termination) |
| Non-CIC severance | 1x base salary for executives; CEO 2x; plus prorated AIP based on actual performance | Paid partly lump sum and installments per agreement |
| Equity vesting on CIC | For grants ≥ Jul 30, 2019, double trigger; options/RSUs/PSUs vest on qualifying termination; PSUs at target, pro-rated per performance period | |
| Benefits continuation | Medical/dental: up to 24 months (36 months for CEO) post-termination in CIC; 12 months (24 for CEO) non-CIC; life insurance, outplacement, unused vacation | |
| Tax gross-ups | None; 280G “cutback” to avoid excise tax if beneficial on net basis | |
| Restrictive covenants | Non-compete, non-solicit, non-disparagement provisions included |
Investment Implications
- Pay-for-performance alignment appears strong: balanced AIP metrics across growth, profitability and cash, with a 2024 corporate rating of 1.39 and majority of long-term equity delivered via options that only pay if stock appreciates, complemented by PSUs tied to relative TSR and time-based RSUs .
- Retention incentives and selling pressure: three-year option and RSU vesting plus double-trigger CIC protection suggest retention focus; anti-hedging/pledging policies and ownership guidelines reduce forced selling or misalignment risk .
- Governance and shareholder sentiment: robust clawbacks, no excise tax gross-ups, and 88.6% say-on-pay approval in 2024 indicate low governance friction and supportive investor feedback, limiting compensation-related controversy risk .
- Benchmarking discipline: compensation targets reference ~50th percentile of a defined peer group, with clear metrics and peer updates (e.g., Kenvue added), reducing pay inflation risk and preserving alignment with market standards .