Steve Winchell
About Steve Winchell
Steve Winchell, age 50, is Executive Vice President and Chief Innovation Officer at The Honest Company (HNST). He has served in this role since September 2024 and previously was EVP, Operations and R&D from June 2022, integrating supply chain and R&D processes. Winchell spent ~14 years at The Clorox Company leading Burt’s Bees, Cleaning Division R&D, International R&D, and Home Care Product Development, and earlier built end‑to‑end innovation and new product processes at The Parent Company. He holds a B.S. in Chemistry and an M.S. in Chemical Engineering from the University of Cincinnati . Company-level 2024 incentive metrics achieved maximum payout on net revenue and adjusted EBITDA, indicating strong execution against financial targets during his tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Honest Company | EVP, Operations & R&D | Jun 2022 – Sep 2024 | Integrated supply chain and R&D processes to improve operational efficiency and innovation cadence |
| The Honest Company | EVP, Chief Innovation Officer | Sep 2024 – Present | Leads end-to-end innovation and new product development strategy |
| The Parent Company, Inc. | VP → EVP, Product | Oct 2019 – Jun 2022 | Established and managed end-to-end innovation and new product process; diversified product portfolio strategy |
| The Clorox Company | Multiple R&D and product leadership roles | Jul 2005 – Oct 2019 | Led Burt’s Bees, Cleaning Division R&D, International R&D, Home Care Product Development; process development and supply chain initiatives |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| University of Cincinnati | B.S. Chemistry; M.S. Chemical Engineering | — | Technical grounding supporting R&D leadership and product innovation |
Fixed Compensation
Not individually disclosed for Winchell in the 2025 proxy; he is not a named executive officer (NEO). Company-reported 2024 base salaries for NEOs (context only): CEO $725,000; CFO $475,000; Chief People Officer $350,000 . No separate employment agreement for Winchell is disclosed; NEO employment agreements and severance terms are detailed, but do not cover him .
Performance Compensation
Company 2024 annual incentive framework (applies to executives and NEOs; Winchell specifics not disclosed):
- 50% based on financial metrics: net revenue and adjusted EBITDA (combined) with maximum payout achieved
- 50% based on four operating priorities (equally weighted): expand retail distribution (partially achieved), increase operational efficiency (achieved), build innovation pipeline (achieved), develop organizational effectiveness (achieved)
- Total payout to NEOs was 121.9% of target for 2024
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Financial metrics (net revenue + adjusted EBITDA) | 50% combined | Pre-set 2024 corporate plan | Maximum achieved | Above target (max component) | Cash annual bonus; timing per plan |
| Operational efficiency | 12.5% (equal among ops priorities) | Pre-set operating priority | Achieved | Above target for this component | Cash annual bonus |
| Innovation pipeline | 12.5% | Pre-set operating priority | Achieved | Above target for this component | Cash annual bonus |
| Organizational effectiveness | 12.5% | Pre-set operating priority | Achieved | Above target for this component | Cash annual bonus |
| Expand retail distribution | 12.5% | Pre-set operating priority | Partially achieved | Below max for this component | Cash annual bonus |
Note: The company uses RSUs as the primary long-term incentive post-IPO to align executives with long-term performance and retention; options are largely legacy and declining in count .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | Individual ownership for Winchell not broken out; all executives/directors as group (17 persons) held 9,955,725 shares (8.9% of outstanding) as of Mar 31, 2025 |
| Hedging/Pledging | Company insider trading policy prohibits short sales, margin accounts, pledging, and buying/selling puts or calls; robust alignment standard |
| Clawback | Dodd-Frank compliant clawback policy effective Oct 2, 2023 |
| Trading plan | Winchell adopted a Rule 10b5‑1 selling plan on Aug 13, 2025 to sell up to 60,000 shares (net after tax from RSU vesting) expiring Sep 2, 2026; structured for orderly sales and tax coverage |
Employment Terms
| Term | Details |
|---|---|
| Current role | EVP, Chief Innovation Officer since Sep 2024 |
| Prior role at Honest | EVP, Operations & R&D since Jun 2022 |
| Employment agreement | Not disclosed for Winchell; NEO agreements exist separately |
| Severance/CoC | Not disclosed for Winchell; NEO severance (context): CEO/CFO—12 months base + pro‑rated bonus; CPO—6 months base; COBRA premiums; good reason/cause definitions detailed |
| Non-compete/Non-solicit | Company references confidentiality/inventions agreements for NEOs; Winchell’s specific covenants not disclosed |
Performance & Track Record
- Led integration of supply chain and R&D at Honest, then advanced innovation leadership as CIO, aligning with company priorities on operational efficiency and innovation pipeline that met 2024 goals .
- Built end‑to‑end innovation processes and diversification strategies in prior role; extensive consumer product R&D leadership at Clorox/Burt’s Bees enhances execution credibility in clean/sustainable personal care .
- Company-level 2024 incentives reached maximum for revenue and adjusted EBITDA, signaling performance momentum during his senior leadership tenure .
Compensation Committee & Governance Context
- Independent Compensation Committee; Semler Brossy engaged to refine strategy and benchmarking; oversight of human capital strategy .
- Honest is an Emerging Growth Company; reduced proxy disclosure and no say‑on‑pay votes required at this time .
- Board policy prohibits hedging/pledging; corporate governance guidelines and code of conduct in place .
Investment Implications
- Alignment: RSU-heavy LTI, anti-hedging/pledging rules, and clawback policy support shareholder alignment and mitigate risk of misaligned incentives .
- Selling pressure: A 10b5‑1 plan authorizing up to 60,000 net shares through Sept 2026 indicates structured insider sales around vesting; monitor Form 4s and execution cadence for near-term supply effects .
- Execution: Company achieved max 2024 financial incentive metrics and delivered on innovation/efficiency priorities, consistent with Winchell’s remit; continued delivery against revenue and adjusted EBITDA is critical for upside .
- Disclosure gap: Lack of granular individual compensation and ownership for Winchell (non‑NEO) limits precision in pay-for-performance assessment; group ownership at 8.9% shows meaningful insider stake but not individual exposure .