Charles V. Magro

Chief Executive Officer (CEO) at Corteva

Board

Since November 1, 2021

Age

54 years

Tenure

Joined CTVA on November 1, 2021 and has served as its Chief Executive Officer since that date.

Also at Corteva

David Johnson

Executive Vice President and CFO

Judd O’Connor

Executive Vice President, Seed Business Unit

RDK

Robert D. King

Executive Vice President, Crop Protection Business Unit

About

Charles V. Magro has led a dynamic career in the agricultural and chemical sectors, demonstrating a strong record of strategic leadership and operational excellence. He joined CTVA on November 1, 2021 as CEO and director, and his appointment marks a significant milestone in his executive journey.

Before his current role, he excelled in senior executive positions at Nutrien Ltd. and Agrium Inc., where he successfully steered major mergers, acquisitions, and operational restructurings. His work not only transformed the companies he led but also set industry benchmarks in employee engagement and safety performance.

Beyond his executive roles, he has contributed to the broader business community through board memberships and advisory positions, underscoring his influence on industry practices and corporate governance. Although personal background details such as education remain undisclosed, his professional achievements provide a comprehensive view of his leadership and commitment to excellence.

$CTVA Performance Under Charles V. Magro

Past Roles

Organization	Role	Date Range	Details
Canada Pension Plan Investment Board	Board Member	2018 – March 2022	Served as a board member
Nutrien Ltd.	President and Chief Executive Officer	2018 – April 2021	Led over 27,000 employees and oversaw numerous mergers and acquisitions, global expansion, and industry restructuring
Agrium Inc.	President and Chief Executive Officer	2014 – 2018	Led the company through its merger with Potash Corporation of Saskatchewan; held additional roles including COO, Chief Risk Officer, EVP of Corporate Development, and VP of Manufacturing
NOVA Chemicals Corp.	Various Roles	N/A	Worked at NOVA Chemicals before joining Agrium in 2009

External Roles

Organization	Role	Date Range	Details
Ingredion Inc.	Board of Directors	May 2022 – Present	Global provider of ingredient solutions to the food and beverage manufacturing industry

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Salary	$1,341,923	Annual (2023)	Fixed annual base salary
Registrant Contributions to Qualified Defined Contribution Plans	$28,950	Annual (2023)	Contributions to the Qualified Defined Contribution Plan
Registrant Contributions to Nonqualified Defined Contribution Plans	$81,808	Annual (2023)	Contributions to the Nonqualified Defined Contribution Plan
Perquisites and Other Personal Benefits	$59,973	Annual (2023)	Includes value of personal use of the Company’s aircraft for personal safety and convenience

Performance Compensation

Data from FY 2023

Non-equity Incentive Plan Compensation (PRP)

Metric	Details
Performance Metrics	Operating EPS Growth and Return on Net Assets (RONA)
Payout Range	0% to 200% of the target payout
Base Salary	$1,350,000 as of December 31, 2023
Target Percentage	150% of base salary
PRP Target Amount	$2,025,000 (calculation: $1,350,000 × 150%)
Company Component Achievement	72.7% of target
Total PRP Payout Amount	$1,472,175 (calculation: $2,025,000 × 72.7%)
Vesting Schedule	No vesting; cash incentive paid after fiscal year-end (2023)
Evaluation Period	Fiscal year ending December 31, 2023

Stock Awards

Award Type	Metric/Target Details
Performance Share Units (PSUs)	Based on RONA and Operating EPS Growth (each weighted 50%). Estimated future payouts: 0 shares at threshold, 98,732 shares at target, and 197,464 shares at maximum. Vesting based on a three-year performance period (January 2023 – December 2025).
Restricted Stock Units (RSUs)	Vest in three equal increments over three years. Grant date fair value: $2,050,026.

Option Awards

Characteristic	Details
Grant Date	February 28, 2023
Grant Date Fair Value	$2,050,001
Exercise Price	$62.29 per share
Vesting Schedule	Vest in three equal installments on February 28, 2024, February 28, 2025, and February 28, 2026
Performance Criteria	No specific performance targets; value is driven by long-term stock price appreciation
Option Term	10 years

Long-Term Incentive Program (LTI)

Component	Mix/Details
LTI Mix	PSUs: 60%, Stock Options: 20%, RSUs: 20%
Performance Metrics for PSUs	RONA and Operating EPS Growth (50% weighting each)
Grant Date	February 28, 2023
Grant Date Fair Values	PSUs: $6,150,016, RSUs: $2,050,026, Options: $2,050,001
Vesting & Evaluation	PSUs vest based on a three-year performance period (January 2023 – December 2025); RSUs and Options vest over three years

These components and metrics are designed to align compensation with corporate financial performance and, where applicable, ESG performance. The detailed performance measures, target percentages, and vesting schedules ensure the incentive plans reflect both short-term achievements and long-term shareholder value creation.