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Wendell P. Weeks

Chairman and Chief Executive Officer at CORNING INC /NY
Board
Since 2005
Age
65 years
Tenure
Joined GLW in 1983 and advanced from finance roles to become Vice President and General Manager in 1996, President in 2001, President and COO in 2002, CEO in 2005, and Chairman in 2007.

Also at CORNING INC /NY

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Avery H. Nelson III
Senior Vice President and General Manager, Automotive, Life Sciences & Solar
EAS
Edward A. Schlesinger
Executive Vice President and Chief Financial Officer
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Eric S. Musser
President and Chief Operating Officer

About

Wendell P. Weeks, currently 65 years old, has had a long and distinguished career marked by extensive leadership and strategic contributions to the company. His involvement with GLW spans over four decades, during which he has played a pivotal role in shaping the organization’s growth and innovation. Weeks also holds key board positions outside the company, including his current membership on the board of Amazon.com, Inc. and his previous service on the board of Merck & Co., Inc., which further highlight his influence in the business world.

Beginning his journey in the finance group in 1983, he steadily climbed the ranks, demonstrating a strong acumen in operational and financial management. His promotions—from serving as Vice President and General Manager of the Optical Fiber business in 1996 to being named President and Chief Operating Officer in 2002—cemented his reputation as a transformative leader capable of driving significant advancements.

Assuming the role of CEO in 2005, and later as Chairman of the Board in 2007, his tenure is characterized by a commitment to operational excellence and strategic foresight. His leadership has been crucial in advancing technology, innovation, and customer-related opportunities, all of which have helped steer the company toward long-term success.

$GLW Performance Under Wendell P. Weeks

Past Roles

Organization Role Date Range Details
Corning Incorporated (GLW) President and Chief Operating Officer 2002 - 2005 Role concluded upon promotion to CEO in April 2005
Corning Incorporated (GLW) President of Corning’s Optical Communications division 2001 N/A
Corning Incorporated (GLW) Vice President and General Manager of the Optical Fiber business 1996 N/A
Corning Incorporated (GLW) Finance Group Employee (Joined the finance group) 1983 N/A

External Roles

Organization Role Date Range Details
Amazon.com, Inc. Board Member N/A N/A
Corning Museum of Glass Board of Trustees Member N/A N/A

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Base Salary$1,580,000 AnnualFixed executive base salary.
Company Match on Qualified 401(k) Plan$10,377 As contributedFixed company match for the qualified 401(k) plan.
Company Match on Supplemental Investment Plan$67,545 As contributedFixed company match for the supplemental investment plan.
Value of Personal Aircraft Rights$154,607 AnnualIncremental cost for personal aircraft rights; excludes fixed costs such as pilot salaries and hangar expenses.
Value of Home Security Costs and Financial Counseling$148,166 AnnualCompany-paid expenses for personal/residential security and financial counseling.
Other Compensation$13,421 AnnualIncludes executive physicals (and related travel), annual Board gift, and contributions under the Corning Foundation Matching Gifts Program.

Performance Compensation

Data from  FY 2023

Cash for Equity - PIP Exchange PSUs

MetricValue/Details
Performance Metrics WeightsCore EPS: 75%, Core Net Sales: 25%
Payout LevelsThreshold: 0%, Target: 100%, Max: 110%
Vesting Period36 months
Grant DateFebruary 8, 2023
Grant Date Fair Value$2,370,017
Grant Date Stock Price$35.14
Actual Performance51% of target

GoalSharing Plan

MetricValue/Details
Performance Metrics25% Corporate Financial Performance, 75% Business Unit Average
Payout5.48% of Base Salary
Vesting ScheduleNo vesting; annual payout
Evaluation Period2023 (Annual)

Cash Performance Units (CPUs)

MetricValue/Details
Performance Metrics WeightsAdjusted Free Cash Flow: 70%, Core Net Sales: 30%
Payout LevelsThreshold: 0%, Target: 100%, Max: 220% (includes up to 10% ROIC modifier)
Actual 2023 Performance56% of target
Prorated Award for 2023$531,300
Vesting DateFebruary 2026
Grant DateFebruary 8, 2023

Performance Share Units (PSUs)

MetricValue/Details
Performance Metrics WeightsCore EPS: 75%, Core Net Sales: 25%
Payout LevelsThreshold: 0%, Target: 100%, Max: 220% (includes ROIC adjustment)
Target Shares54,292 shares
Maximum Shares119,442 shares
Vesting DateApril 15, 2026 (100% vest)
Grant DateApril 3, 2023
Grant Date Fair Value$1,897,505
Grant Date Stock Price$34.95