Steen Weien Hansen
HuntsmanAbout Steen Weien Hansen
Steen Weien Hansen is Division President, Polyurethanes at Huntsman Corporation, appointed effective June 1, 2025 after more than 20 years with the company since joining via the ICI polyurethanes acquisition in 1999 . He previously led Global Automotive, Global Elastomers, and the Americas within Polyurethanes (since January 2022), served as Vice President for EAMEI in Polyurethanes, and Vice President Asia Pacific in Advanced Materials; he holds a bachelor’s degree in market economics from IHM Business School in Gothenburg, Sweden . Under his business remit, Q3 2025 Polyurethanes revenue declined year over year on lower pricing despite higher volumes, and adjusted EBITDA fell amid MDI price pressure—key operational dynamics for his segment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Huntsman Polyurethanes | Division President | Appointed Jun 1, 2025 | Leadership succession for core segment; transition from long-time leader Tony Hankins |
| Huntsman Polyurethanes | Senior Vice President, Global Automotive & Elastomers and Americas | Jan 2022–May 2025 | Led platforms and Americas to address operational challenges; demonstrated execution strength |
| Huntsman Polyurethanes | Vice President, EAMEI | — | Commercial leadership across Europe, India & Middle East |
| Huntsman Advanced Materials | Vice President, Asia Pacific | 4 years | Regional P&L leadership; built APAC operations |
| Huntsman (Corporate) | Corporate Purchasing | Joined 1999 | Procurement foundation prior to business leadership roles |
External Roles
No public company directorships or external board roles disclosed in company filings or official bios for Hansen. —
Fixed Compensation
- Hansen’s individual base salary, target bonus %, and 2025 cash compensation elements are not disclosed in the 2025 proxy or subsequent filings. Huntsman’s program structure for executives includes base salary and annual cash performance awards tied to Company metrics (adjusted EBITDA, strategic/operational goals, free cash flow) .
- In 2024, the Compensation Committee reduced annual cash performance awards for executive officers to zero because threshold goals for adjusted EBITDA and free cash flow were not attained, highlighting strict pay-for-performance governance (program-level context) .
Performance Compensation
| Incentive Type | Metric | Weighting | Target/Payout Mechanics | Vesting |
|---|---|---|---|---|
| Annual Cash Performance Award | Adjusted EBITDA; Strategic/Operational; Free Cash Flow | 100% of annual award linked to these goals | Pool capped at 2% of adjusted EBITDA; Committee uses discretion; 2024 payouts for executives reduced to zero due to missed threshold goals | Annual, based on fiscal-year performance |
| Performance Share Units (PSUs) | Three-year Relative TSR vs industry peers | 60% of equity value | Threshold 25% of target; Maximum 250% of target; If absolute TSR is negative at period end, payout capped at target | Performance period Jan 1, 2024–Dec 31, 2026; cliff vest at end, subject to service |
| Restricted Stock | Service-based | 40% of equity value | Time-based; dividends accrued and paid upon vesting | Ratable annual vesting over three years |
Huntsman does not currently grant new option awards under its standard program; if options are granted, timing policies will be evaluated by the Board .
Equity Ownership & Alignment
| Security | Quantity | Ownership Form | Strike Price | Expiration | Notes |
|---|---|---|---|---|---|
| Common Stock | 133,170 | Direct (D) | — | — | Initial statement of beneficial ownership as of June 3, 2025 |
| Option (Right to Buy) | 6,502 | Direct (D) | $32.77 | 02/07/2028 | Derivative security; exercisability per award terms |
| Option (Right to Buy) | 10,787 | Direct (D) | $22.66 | 02/06/2029 | Derivative security |
| Option (Right to Buy) | 12,092 | Direct (D) | $21.54 | 02/13/2030 | Derivative security |
| Option (Right to Buy) | 10,889 | Direct (D) | $28.58 | 02/17/2031 | Derivative security |
| Phantom Stock | 1,513 | — | — | — | Deferred compensation type |
- Section 16 status and officer title: “Division President” (Form 3 filed June 3, 2025) .
- Stock Ownership Guidelines: 3x base salary for executive officers (6x for CEO); retain at least 50% of net shares until guideline met; all directors and NEOs as of July 15, 2024 were meeting or progressing toward targets (Hansen not an NEO in 2024) .
- Insider Trading Policy: Hedging and short-term speculative transactions are prohibited; pledging is not prohibited but caution is required; as of proxy date, no director or executive had engaged in hedging .
- Clawback Policy: Adopted Oct 26, 2023; applies to current/former Section 16 officers; mandates recovery of incentive-based compensation erroneously received within the three fiscal years prior to a required accounting restatement; misconduct not required .
Employment Terms
| Provision | Summary | Detail |
|---|---|---|
| Executive Severance Plan Eligibility | Senior Executive level (SVP or above) | Division President aligns with Senior Executive tier for plan benefits |
| Cash Severance Multiple | 2x Base Compensation | Base Compensation includes base salary plus target annual bonus for year of termination |
| Healthcare Benefits | Lump-sum equal to COBRA premiums for the Continuation Period; max 18 months | Continuation Period equals 12×(severance multiple), capped at 18 months; requires timely COBRA election |
| Outplacement | 12 months for Senior Executives | Executive outplacement services selected by Administrator |
| Pro-Rata Bonus | Yes | Pro-rata annual bonus for year of termination based on actual performance |
| Restrictive Covenants | Confidentiality; Non-compete; Non-solicit; Non-disparagement | Non-compete in restricted area tied to participant’s scope; Prohibited Period extends 12 months post-termination |
| Good Reason Definition | Material reduction in responsibilities/salary; relocation >50 miles within 12 months of CoC | Notice and remedy periods apply; termination window specified |
| Change-of-Control Protections | Anti-adverse amendment window; CEO double-trigger 2.9x | Plan cannot be amended/terminated to adversely affect rights within 6 months before and 1 year after CoC; CEO’s separate agreement provides 2.9x Annual Compensation upon double-trigger; other executives receive plan-level benefits; no separate CoC multiple disclosed for them |
Performance & Track Record
- Segment performance under Hansen’s remit (Polyurethanes):
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Polyurethanes Revenues ($USD Millions) | $1,003 | $956 |
| Polyurethanes Adjusted EBITDA ($USD Millions) | $76 | $48 |
- Company-level cash and capital allocation context:
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Total Revenues ($USD Millions) | $1,540 | $1,460 |
| Adjusted EBITDA ($USD Millions) | $131 | $94 |
| Free Cash Flow from Continuing Ops ($USD Millions) | $93 | $157 |
| Regular Quarterly Dividend ($/share) | $0.25 (prior) | Reset to $0.0875 (annual $0.35) |
- Management commentary for Polyurethanes: lower average selling prices in MDI drove revenue/EBITDA declines despite higher volumes in Americas and Asia; cost savings and lower raw material costs partially offset pricing pressure .
Compensation Committee Analysis
- Independent consultant: Meridian retained; Compensation Committee assessed independence with SEC/NYSE factors; no conflicts found .
- Compensation peer group for 2024 PSUs (relative TSR): Ashland, BASF, Celanese, Clariant, Covestro, Dow, Eastman, Evonik, H.B. Fuller, Lanxess, Trinseo, Westlake .
- Say-on-Pay support: 85% approval in 2024; 97% in 2023; 85% in 2022; Committee engaged stockholders and adjusted design to tighten pay/performance alignment .
Investment Implications
- Alignment: Hansen’s compensation is governed by Huntsman’s strict pay-for-performance framework (annual awards tied to adjusted EBITDA, strategic metrics, and FCF; LTI tied to three-year relative TSR), with clawback and ownership guidelines that encourage long-term alignment and retention .
- Retention and severance economics: As a Senior Executive, plan benefits include 2x base compensation (including target bonus), pro-rata bonus, health coverage and 12-month outplacement; restrictive covenants and 12-month non-compete/non-solicit reduce post-departure competition risk while providing balanced protection .
- Insider selling pressure: Options expiring between 2028 and 2031 at strikes from $21.54 to $32.77 suggest potential future exercise/flow considerations; current in-the-money status depends on share price at exercise—monitor for Form 4 filings and trading windows .
- Execution risk and segment dynamics: Polyurethanes faces MDI pricing pressure and weaker ASPs despite volume gains; improving cash generation and cost control are priorities. Dividend reset enhances financial flexibility in an extended cyclical trough, informing capital allocation under Hansen’s segment leadership .
- Governance signals: High historical Say-on-Pay support, independent advisor use, and robust clawback/insider policies point to disciplined compensation governance reducing agency risk .