Elio Leoni Sceti
Kraft HeinzAbout Elio Leoni Sceti
Independent director of The Kraft Heinz Company since May 2020; age 59. Co‑founder, Chief Crafter, and Chairman of The Craftory, with prior CEO roles at Iglo Group and EMI, and senior leadership at Reckitt Benckiser and Procter & Gamble. At KHC, he is designated independent under Nasdaq rules and serves on the Human Capital & Compensation Committee, bringing expertise across financial/accounting, global CPG operations, sustainability/human capital, strategic transactions, and brand building .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Craftory | Co‑Founder, Chief Crafter, Chairman | 2018–present | Investor/operator in purpose‑driven CPG challengers; portfolio governance across multiple brands |
| Iglo Group (Birds Eye/Findus/Iglo) | Chief Executive Officer | 2013–2015 | Led operations, product innovation and brand strategy in frozen foods |
| EMI Group | Chief Executive Officer | 2008–2010 | Oversaw corporate transformation in media/consumer content |
| Reckitt Benckiser Group plc | Senior marketing/management roles | 1992–2008 | Global brand building and product development leadership |
| Procter & Gamble | Marketing roles | 1988–1992 | Early consumer marketing foundation |
| Active investor/advisor | Early‑stage tech | 2010–present | Growth/innovation advisory in consumer tech |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| AB InBev | Director | 2014–April 2023 |
| Barry Callebaut AG | Director | 2017–December 2023 |
| LSG Holdings Limited | Director | Since 2011 |
| Room to Read (UK Board) | Board member | Since April 2019 |
| One Young World | Board of Trustees | Since 2011 |
Board Governance
- Committee assignments: Member, Human Capital & Compensation Committee (not Chair). 2024 focus areas included pay‑for‑performance design, CEO succession, and human capital strategy .
- Independence: Board affirmatively determined him independent under Nasdaq standards .
- Attendance and engagement: In 2024, incumbent directors (including Leoni Sceti) attended 100% of Board and applicable Committee meetings; 22 total Board and Committee meetings were held, with executive sessions at all Board meetings .
- Broader engagement: Serves on KHC’s Global Inclusion Council (cross‑functional oversight of DEI&B strategy) .
- Committee interlocks/conflicts: No Compensation Committee interlocks or related‑person relationships requiring disclosure in 2024; Committee fully independent .
- Time‑commitment policy: Board enforces limits on additional public boards and audit committees; all directors in compliance as of March 10, 2025 .
Fixed Compensation
| Metric | 2023 | 2024 | Notes |
|---|---|---|---|
| Cash Retainer ($) | $110,023 | $107,516 | Quarterly paid; no meeting fees |
| Stock Awards ($) | $125,011 | $185,032 | Deferred stock granted post‑annual meeting; accrues DEUs |
| Total ($) | $235,034 | $292,548 | 2024 increase reflects program changes |
Program structure (effective 2024): Annual stock award $185,000 and cash retainer $100,000; additional retainers for Chair ($60,000 cash + $120,000 stock), Lead Director ($30,000 cash), and Committee Chairs (Audit $25,000; Compensation $20,000; Governance $20,000). Directors may elect to receive cash retainer in deferred stock; no meeting fees .
Performance Compensation
Directors at KHC receive deferred stock (not performance‑conditioned). As a Compensation Committee member, Leoni Sceti oversees executive performance pay metrics:
| Plan/Metric | Weight | Performance Period/Terms | Notes |
|---|---|---|---|
| PSUs – 3‑yr average annual TSR (relative to peer group) | 40% | 3 years; TSR capped at target if absolute TSR is negative | Peer set reviewed annually |
| PSUs – 3‑yr Organic Net Sales CAGR | 30% | 3 years | Aligns with long‑term growth |
| PSUs – 3‑yr cumulative Free Cash Flow | 30% | 3 years | Cash generation discipline |
| Annual Performance Bonus Plan – Adjusted Operating Income | 60% | Annual | Company financial multiplier |
| Annual Performance Bonus Plan – Organic Net Sales | 30% | Annual | Growth focus |
| Annual Performance Bonus Plan – Free Cash Flow Conversion | 10% | Annual | Capital efficiency |
Say‑on‑pay support underscores investor alignment with these metrics: ~96% approval in 2024 and ~97% in 2023 .
Other Directorships & Interlocks
- Current public company boards: None .
- Committee interlocks: None reported for the Compensation Committee in 2024 (and 2023) .
- Potential interlocks with suppliers/customers: Prior roles at AB InBev and Barry Callebaut (both consumer/ingredients) ended in 2023; no KHC related‑party transactions disclosed involving him .
Expertise & Qualifications
- Financial/accounting, global business/emerging markets, CPG industry, enterprise leadership, sustainability & human capital, strategic transactions, brand building .
- Brings deep operating, marketing, and disruptive innovation experience from major CPG and consumer companies .
Equity Ownership
| Metric | March 4, 2024 | March 10, 2025 | Notes |
|---|---|---|---|
| Shares Owned | 90,000 | 90,000 | Held by Elma Investments Ltd., wholly owned by Elma Trust; Leoni Sceti is a beneficiary |
| Shares Acquirable within 60 Days | — | — | — |
| Deferred Stock Units (incl. DEUs) | 22,799 | 32,168 | Deferred stock distributes 6 months post‑Board service |
| Total Beneficial Ownership | 112,799 | 122,168 | Less than 1% of outstanding shares |
| Ownership Guidelines Compliance | In compliance (6× annual cash retainer; 5 years to comply) | In compliance | RSUs, deferred stock, DEUs count; options do not |
Policy protections: Anti‑hedging/anti‑pledging policy prohibits margin accounts, pledging, short‑selling, and derivatives on KHC stock .
Governance Assessment
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Positive signals:
- Independent director with 100% attendance and active engagement (Global Inclusion Council) .
- Compensation Committee oversight of robust, investor‑aligned performance metrics; strong say‑on‑pay support (~96% in 2024; ~97% in 2023) .
- Clear stock ownership alignment; compliant with tightened director guidelines; anti‑hedging/pledging safeguards .
-
Potential conflicts watch‑items:
- The Craftory invests in CPG challengers; while no related‑party transactions involving him are disclosed, continued monitoring is prudent under KHC’s Related Person Transactions Policy overseen by the Governance Committee .
- Prior sector board roles (AB InBev, Barry Callebaut) ended in 2023; no current interlocks or Compensation Committee interlocks reported .
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Risk indicators:
- No delinquent Section 16(a) reports for directors in 2024 .
- No director options reported for Leoni Sceti; only deferred stock units and common shares beneficially owned .
Overall, governance quality and investor alignment appear strong for Elio Leoni Sceti given independence, attendance, compensation oversight discipline, and ownership compliance, with limited conflict exposure based on disclosed related‑party and interlock information .