Darrell Brown
President & Chief Operating Officer at ECL
Executive
About Darrell Brown
Darrell R. Brown, age 61, is Ecolab’s President and Chief Operating Officer (COO) since October 2022, after serving as Executive Vice President and President—Global Industrial (Jan 2020–Sept 2022) and earlier leadership roles at Ecolab . During his tenure as COO, Ecolab delivered record 2024 results: organic sales +4%, organic operating income margin +290 bps, adjusted diluted EPS +28% and reported diluted EPS +54%, reflecting strong execution across segments . Brown’s equity ownership significantly exceeds company guidelines (25,349 shares counted for guidelines equals 7.1x salary), and Ecolab prohibits pledging or hedging by insiders, supporting alignment with long-term shareholders .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ecolab Inc. | President & COO | Oct 2022–Present | Senior operating leadership of the enterprise |
| Ecolab Inc. | EVP & President—Global Industrial | Jan 2020–Sept 2022 | Leadership of Global Industrial segment operations |
| Ecolab Inc. | EVP & President—Energy Services | Jan 2019–Mar 2019 | Leadership role in Energy Services segment |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | $643,750 | $787,500 | $829,785 |
| MIP Target (% of Salary) | — | — | 105% |
| MIP Target ($) | — | — | $864,554 |
| Actual MIP Payout ($) | $416,828 | $1,570,453 | $1,729,108 |
Notes: “MIP” = annual cash incentive. FY 2024 target increased modestly to maintain market alignment; payouts were made strictly per plan with no discretionary adjustments .
Performance Compensation
2024 Annual Cash Incentive (MIP) structure and results
| Component | Weighting | Target ($) | Performance Achieved (% of weighted target) | Growth & Impact Modifier | Payout ($) |
|---|---|---|---|---|---|
| EPS (enterprise) | 70% | $605,188 | 200% | 10% (capped) | $1,210,376 |
| Enterprise (EPS + commercial average) | 30% | $259,366 | 154% | 10% (capped) | $399,223 |
| Total | 100% | $864,554 | — | — | $1,729,108 |
Payouts were capped at 200% of target; the Growth & Impact modifier paid less than 10% due to the cap .
Long-Term Incentives (granted Dec 4, 2024)
- Program mix: 60% PBRSUs; 40% stock options; PBRSUs use organic ROIC with a relative TSR modifier; maximum payout 200%; 2022–2024 PBRSUs paid 100% based on adjusted ROIC .
- Brown’s 2024 LTI target value: $2,900,000; grants: 6,948 target PBRSUs and 16,544 stock options at $247.495 strike (10-year term; vest ratably over three years) .
| Award Type | Grant Date | Quantity | Terms |
|---|---|---|---|
| PBRSUs (2025–2027 performance period) | 12/04/2024 | 6,948 | Cliff vest after 3 years, metric: organic ROIC with TSR modifier |
| Stock Options | 12/04/2024 | 16,544 | 10-year term; vest 1/3 per year (Dec 2025–Dec 2027); strike $247.495 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (incl. options exercisable within 60 days) | 172,275 shares; <1% of class |
| Shares counted toward ownership guideline | 25,349 shares; 7.1x 2024 base salary (guideline: 3x) |
| Ownership/retention policy | CEO, CFO, President & COO must retain 100% of net shares until guideline met; options/unvested RSUs/PBRSUs excluded from “owned” |
| Hedging/pledging | Prohibited for insiders; no margin purchases or derivatives (outside plans) |
| Options currently out-of-the-money | Some options have strikes above $234.32 (12/31/2024 close); Dec 2024 grant at $247.495 has no intrinsic value |
Vesting schedule (unexercisable options as of 12/31/2024)
| Grant | Dec 2025 | Dec 2026 | Dec 2027 |
|---|---|---|---|
| 12/07/2022 | 11,763 | — | — |
| 12/06/2023 | 8,034 | 8,035 | — |
| 12/04/2024 | 5,514 | 5,515 | 5,515 |
Employment Terms
| Provision | Key Terms |
|---|---|
| Change-in-control (double trigger) cash severance | 2x (base salary + target annual cash incentive) + prorated target incentive; plus outplacement up to 20% of base salary and 18 months health premium subsidy |
| Equity upon change-in-control | If not assumed/continued: options fully exercisable for remaining term; RSUs/PBRSUs fully vest; PBRSUs deemed at target |
| No 280G gross-up | Policy uses cutback to maximize after-tax income instead of gross-up |
| Estimated COC payout (as of 12/31/2024) | Cash severance $3,411,200; outplacement $166,400; health premiums $29,979; accelerated options (value) $1,705,186; accelerated PBRSUs (value) $5,815,119; total potential $11,127,885 |
| Death/Disability benefits (illustrative) | Long-term disability up to $35,000/month; accelerated options value $1,705,186; accelerated PBRSUs value $5,815,119; total (excl. life/disability benefits) $9,249,414 |
Discharge without cause / constructive discharge (non-CIC, illustrative estimates)
| Item | Estimated Amounts |
|---|---|
| Severance (case-by-case; disclosure methodology) | Up to two years’ base salary + target annual cash incentive |
| Pro-rated PBRSU vesting | Service vesting accelerated pro-rata; payout subject to performance certification |
Compensation Structure Signals
- NEO pay mix emphasizes performance-based incentives; CEO and NEO programs center on PBRSUs with ROIC/TSR and MIP tied to adjusted EPS and enterprise metrics .
- 2024 results drove capped MIP payouts at 200% for Brown; committee has not historically used discretionary adjustments outside new-hire or exceptional cases .
Multi‑Year Compensation Detail (from Summary Compensation Tables)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Stock Awards ($) | $1,204,292 | $1,762,406 | $1,697,952 |
| Option Awards ($) | $1,306,009 | $1,216,719 | $1,106,628 |
| Change in Pension Value ($) | — | $59,090 | $153,440 |
| All Other Compensation ($) | $101,973 | $279,330 | $293,733 |
| Total Compensation ($) | $3,672,852 | $5,675,498 | $5,810,646 |
Key perquisites in 2024: commuter allowance $50,385; incentive trip attendance/gross-up; spousal travel and related gross-ups; retirement plan matching including $20,700 under the Savings Plan/ESOP and $130,530 employer match under the non-qualified Mirror Savings Plan .
Pension and Deferred Compensation
| Plan | Credited Service (Years) | Present Value ($) |
|---|---|---|
| Pension Plan | 7.63 | $78,150 |
| Mirror Pension Plan | 7.63 | $184,810 |
| Australia Plan | 15.22 | $1,905,419 |
Non-qualified deferred contributions and employer match (2023): Executive contributions $162,236; employer match $121,677; aggregate 2023 Mirror plan balance $606,732 .
Governance, Policies, and Risk Controls
- Insider trading policy prohibits short-term trading, short sales, margin purchases, pledging, and derivative transactions (outside company plans) for insiders .
- Stock ownership/retention guidelines require Brown (as President & COO) to retain 100% of net shares until guideline met; options/RSUs/PBRSUs do not count toward ownership .
- Compensation & Human Capital Management Committee administers compensation recovery (clawback) policies and ownership guidelines; committee is fully independent .
- Beneficial ownership by executives/directors aggregated ~0.5% of shares outstanding as of March 11, 2025 .
Investment Implications
- Alignment: Brown’s counted ownership at 7.1x salary exceeds the 3x guideline; insider pledging is prohibited—both support long-term alignment and reduce misalignment risk .
- Retention: Double-trigger change-in-control protections and meaningful accelerated equity value ($7.52M of equity acceleration components as of 12/31/2024) indicate standard market protections; no excise gross-up reduces shareholder-unfriendly optics .
- Trading pressure: A portion of options (e.g., Dec 2024 grant) are currently out-of-the-money at $234.32, tempering near-term option exercise-driven selling; however, 144,746 options were exercisable within 60 days (beneficial ownership count) which can be a source of potential liquidity events depending on windows and personal decisions .
- Execution track record: Company-level 2024 performance (organic OI margin +290 bps; adjusted EPS +28%; record free cash flow) suggests strong operational execution under the current leadership structure that includes Brown as COO—supportive of incentive realizations and future PBRSU payouts if performance sustains .
Citations correspond to Ecolab’s 2025 and 2024 DEF 14A proxy statements and 2024–2022 Form 10-Ks:
- Roles/age: 2024–2025 10-K executive officers **[31462_0001558370-25-001263_ecl-20241231x10k.htm:19]** **[31462_0001558370-24-001581_ecl-20231231x10k.htm:21]**
- Performance highlights: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:11]** **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:2]**
- Ownership guidelines, hedging/pledging: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:85]**
- Beneficial ownership: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:64]**
- Fixed comp & totals: 2025 proxy Summary Compensation **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:87]**; 2024 proxy **[31462_0001104659-24-035047_tm2317069d5_def14a.htm:84]**; 2023 proxy **[31462_0001558370-23-004123_ecl-20230504xdef14a.htm:73]**
- MIP structure and results: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:75]** **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:80]** **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:81]**
- LTI design and grants: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:19]** **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:91]**
- Vesting schedules: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:99]** **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:96]**
- Change-in-control policy and values: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:114]** **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:116]**
- Death/disability table: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:111]**
- Perquisites & employer matching: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:89]** **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:90]**
- Pension values: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:101]**
- Deferred comp (2023): 2024 proxy **[31462_0001104659-24-035047_tm2317069d5_def14a.htm:100]**
- Committee independence and responsibilities: 2025 proxy **[31462_0001104659-25-027292_tm2425999-8_def14a.htm:51]**