Christophe N. Reitemeier
About Christophe N. Reitemeier
Christophe N. Reitemeier, age 59, is Senior Vice President and President of Harsco Environmental (an Enviri division) since January 2025; previously Vice President and Chief Financial Officer of Harsco Environmental from 2020, with various leadership roles at the division since joining the Company in 1999. He began his career at Arthur Andersen in France, then DS Smith, and holds a master’s degree in management (finance) from NEOMA Business School, Reims, France . In 2024, Harsco Environmental delivered $1,111.5 million in revenue and $192.9 million in Adjusted EBITDA (17.4% margin), down year-over-year largely due to divestitures, FX and lower service levels; PSU awards granted in 2022 paid 0% based on Company TSR at the 4th percentile versus the S&P 600 Industrials Index, evidencing pay-for-performance rigor . In October 2025, Reitemeier announced a 15-year, $150 million expansion with Jindal Stainless, aiming to double Harsco Environmental’s India business by 2028, highlighting growth execution under his leadership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Enviri – Harsco Environmental | President | Jan 2025–present | Leads the division across >130 sites globally; secured long-term growth contract in India . |
| Enviri – Harsco Environmental | Vice President & CFO | 2020–2024 | Finance leadership during portfolio divestitures and operational improvements . |
| Enviri – Harsco Environmental | Various leadership roles | 1999–2020 | Progressive operational/finance roles since joining in 1999 . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Arthur Andersen (France) | Auditor/Consultant | Not disclosed | Foundational finance/audit experience . |
| DS Smith | Finance/Management | Not disclosed | Industry/operational exposure in packaging . |
Fixed Compensation
Not disclosed for Reitemeier in the 2025 proxy (he was not a named executive officer). Enviri’s program targets market-median total compensation; fixed base salary is complemented by variable annual and long-term incentives, with NEOs’ target mix averaging ~29% cash (base) and ~71% variable in 2024 .
Performance Compensation
Program design applicable to senior executives:
- Annual Incentive Plan (AIP): Balanced scorecard with 80% financial (Business Unit Contribution, “BUC”) and 20% non-financial (strategic and ESG) for most NEOs; CEO/CFO had a 20% strategic debt-reduction goal in lieu of ESG in 2024 .
- 2024 AIP result: Enviri consolidated BUC achieved $89.5 million (85% of target payout factor); non-financial payouts ranged by role; CEO’s strategic component was reduced to 0% via negative discretion .
- Long-Term Incentives (LTIP): PSUs (relative TSR vs S&P 600 Industrials over 3 years), RSUs, SARs; CEO mix 50% PSUs/25% RSUs/25% SARs; other NEOs equal mix .
| Metric | Weighting | Target/Range | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Consolidated BUC (Financial) | 80% (typical NEO) | Threshold 63% ($69.7m); Target 100% ($110.2m); Max 156% ($171.5m) | $89.5m (after adjustments) | 85% factor | Annual cash AIP . |
| Strategic Goals (Non-Financial) | 10% (typical NEO) | 0–200% score | Examples: innovation, Rail transition | 75% (other corporate NEOs) | Annual cash AIP . |
| ESG Goals (Non-Financial) | 10% (typical NEO) | 0–200% score | TRIR 0.71 vs 0.82 target; B&I training; CultureLink ERG | 100% (other corporate NEOs) | Annual cash AIP . |
| PSUs (3-year TSR vs S&P 600 Industrials) | 50% CEO; 33% others | Threshold 25th pct → 25%; Target 50th pct → 100%; Max 75th pct → 200% | 2022–2024 TSR at 4th pct | 0% payout | 3-year cliff at performance end . |
Notes: For a divisional president (e.g., Clean Earth) AIP weighting included Business Unit BUC (60%); specific AIP weightings for Harsco Environmental president were not disclosed .
Harsco Environmental – Operating Performance (Context for pay-for-performance)
| Metric | 2023 | 2024 |
|---|---|---|
| Revenues ($USD Millions) | $1,140.9 | $1,111.5 |
| Adjusted EBITDA ($USD Millions) | $207.7 | $192.9 |
| Adjusted EBITDA Margin (%) | 18.2% | 17.4% |
Drivers: 2024 decline driven by divestitures, FX translation and lower service levels; Q4 2024 Adjusted EBITDA was $41 million (17.1% margin) . 2025 divisional Adjusted EBITDA was guided to be below 2024 due to FX/divestitures/contract exits, partly offset by improvement initiatives and new contracts .
Equity Ownership & Alignment
- Significant share ownership requirements apply to Directors and senior executives; NEO stock ownership guidelines: CEO 6x salary; other NEOs 3x salary .
- Anti-hedging and anti-pledging: Hedging, short sales, and pledging of Company stock are prohibited for executives and Directors; clawback policy applies upon material financial restatements .
- Director stockholding requirement is 5x annual retainer with five-year compliance window (policy context) .
Note: Reitemeier’s personal beneficial ownership, vested/unvested breakdown, and guideline compliance status were not disclosed in the 2025 proxy .
Employment Terms
- Role start date: Senior Vice President and President, Harsco Environmental since January 2025 .
- Employment agreements: Company practice is no employment contracts for executives; compensation is governed by plan documents and committee oversight .
- Change-in-control/severance: In December 2024, Enviri amended CIC severance agreements for CEO, CFO, CHRO, and GC, featuring double-trigger severance (CEO 3x salary+target bonus; others 2x), no excise tax gross-ups, and equity vesting mechanics under material divestment; no CIC agreement for Reitemeier was disclosed . Program-level CIC/Divestment terms outline double-trigger and equity treatment, administered by the MD&C Committee –.
- Non-compete, non-solicit, garden leave: Not disclosed for Reitemeier.
Performance & Track Record
- Division growth: Announced a 15-year, $150 million contract extension with Jindal Stainless (India), including a new wet milling plant; targeted to double India business by 2028, creating ~140 jobs .
- Company-level execution: 2024 Adjusted EBITDA reached $319 million companywide (10-year high on organic basis), with Clean Earth record profits; Rail improved on certain contracts; leverage ratio improved to 4.07x; credit facilities amended for flexibility .
- TSR/PSU outcome: 2022–2024 PSUs paid 0% on 4th percentile TSR vs S&P 600 Industrials, aligning realized pay to shareholder returns .
Compensation Structure Analysis
- Shift toward transparency and cash discipline: 2025 AIP financial metrics changed from BUC to Adjusted EBITDA and Adjusted Free Cash Flow (80% weighting), increasing accountability for profitable growth and capital efficiency (beneficial for divisional leaders) .
- Equity mix emphasizes performance: Greater reliance on PSUs for CEO; equal mix for other NEOs maintains alignment while diversifying vesting risk .
- Governance safeguards: No employment contracts; clawback; double-trigger CIC; no tax gross-ups; no option/SAR repricing; no pledging; no dividends on unearned PSUs; negative TSR cap above target payouts .
Compensation Peer Group & Say-on-Pay
- Benchmarking: Pay targeted near median (50th percentile) using survey and peer group data across diversified industrial/environmental peers sized ~0.5–2.5x Enviri revenues .
- Peer examples (2024 set): ATI Inc., Clean Harbors, GFL Environmental, Stericycle, Minerals Technologies, CECO Environmental, etc. .
- Shareholder support: Say-on-Pay received ~94% approval at the 2024 Annual Meeting, indicating broad investor alignment with program design .
Risk Indicators & Red Flags
- Environmental and contract risks: 2024 recognized a $27.2 million charge for salt cake processing/disposal at Harsco Environmental; contract exits and termination charges occurred; FX headwinds persist; Rail forward-loss provisions continued in 2024 .
- TSR underperformance: 0% PSU payout for 2022–2024 underscores shareholder return pressure and realized pay sensitivity .
- Hedging/pledging prohibited: Policy mitigates misalignment/insider risk; clawback covers restatement-triggered recoveries .
Equity Ownership & Alignment (Policy Snapshot)
- Stock ownership guidelines (NEO): CEO 6x salary; others 3x; senior executives subject to significant ownership requirements .
- Anti-hedging/anti-pledging: Prohibitions in place for executives and Directors; clawback policy maintained .
Investment Implications
- Incentive levers: The transition to Adjusted EBITDA/Adjusted FCF in AIP (80% weight) heightens cash discipline and profitability focus—likely constructive for Harsco Environmental amid FX/contract mix pressures .
- Alignment: 0% PSU payout on weak TSR and explicit anti-hedging/anti-pledging policies suggest strong pay-for-performance alignment and reduced misalignment risk .
- Execution vs. headwinds: Despite 2024 revenue/EBITDA pressure in Harsco Environmental, Reitemeier’s 2025 India contract signals durable growth and expanding footprint; near-term divisional EBITDA headwinds remain per 2025 outlook .
- Retention: No disclosed CIC agreement for Reitemeier; program-level safeguards (double-trigger; no gross-ups) exist for key NEOs. Absent specific protections, retention hinges on program incentives and long-term equity design rather than guaranteed contracts .