Claus Heuschmid
About Claus Heuschmid
Claus Heuschmid, age 53, served as Senior Vice President and President, Harsco Rail from November 2022 until his departure effective June 1, 2025; he previously was Chief Operating Officer for Harsco Rail, joined the company in 2017, spent 16 years at Ingersoll Rand in business leadership roles, and began his career at Ernst & Young LLP . Under his tenure, Harsco Rail faced weak demand in standard equipment and aftermarket parts and ongoing execution on engineered-to-order contracts, with segment revenues of $64M and adjusted EBITDA loss of $(4)M in Q3 2025 versus $58M and $(2)M in Q3 2024; for the nine months ended Sept 30, 2025, Rail reported $191.543M in revenues and adjusted EBITDA of $(9.170)M, while management expects Rail’s cash flow profile to turn positive in 2027 as ETO contracts mature .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Enviri (Harsco Rail) | Senior Vice President and President, Harsco Rail | Since Nov 2022 | Leads global Rail business; develops products and services portfolio |
| Enviri (Harsco Rail) | Chief Operating Officer, Harsco Rail | Prior to Nov 2022 (dates not disclosed) | Operational leadership within Rail |
| Enviri (Harsco Rail) | Regional/global roles | Joined 2017 | Increasing responsibilities within Rail |
| Ingersoll Rand | Various business leadership positions | 16 years (dates not disclosed) | Multi-division leadership experience |
| Ernst & Young LLP | Early career | Not disclosed | Professional services foundation |
External Roles
No external directorships or committee roles for Heuschmid are disclosed in the company’s proxy filings reviewed .
Fixed Compensation
Not disclosed for Heuschmid in the 2025 proxy (executive officer listing without individual salary/bonus detail) .
Performance Compensation
| Award Type | Quantity | Performance Metric | Weighting | Target | Actual | Payout | Vesting | Expiration | Exercise Price |
|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units (RSUs) | 30,832 | Time-based (none) | Not disclosed | Not disclosed | Not disclosed | 1 share per RSU | One-third on each of first three anniversaries of grant | N/A | $0 |
| Performance Share Units (PSUs) | 5,141 | TSR vs S&P 600 Industrials Index | Not disclosed | Not disclosed | Not disclosed | 1 share per PSU | Vest on expiration date | 12/31/2024 | $0 |
| Performance Share Units (PSUs) | 17,741 | TSR vs S&P 600 Industrials Index | Not disclosed | Not disclosed | Not disclosed | 1 share per PSU | Vest on expiration date | 12/31/2025 | $0 |
| Performance Share Units (PSUs) | 17,290 | TSR vs S&P 600 Industrials Index | Not disclosed | Not disclosed | Not disclosed | 1 share per PSU | Vest on expiration date | 12/31/2026 | $0 |
| Stock Appreciation Rights (SARs) | 19,324 | Stock price appreciation | Not disclosed | Not disclosed | Not disclosed | SAR value above strike | One-third on each of first three anniversaries of 3/7/2023 grant | 03/07/2033 | $7.45 |
| Stock Appreciation Rights (SARs) | 28,130 | Stock price appreciation | Not disclosed | Not disclosed | Not disclosed | SAR value above strike | One-third on each of first three anniversaries of 3/11/2024 grant | 03/11/2034 | $8.20 |
PSU design ties payout to Enviri’s TSR relative to the S&P 600 Industrials; RSUs are time-based, and SARs vest over three years from grant dates .
Equity Ownership & Alignment
| Ownership Type | Amount | Form | Notes |
|---|---|---|---|
| Common Stock (Direct) | 9,615 | D | Reported on Form 3 filed 05/02/2024 |
| RSUs Outstanding | 30,832 | D | Time-based vesting over three years |
| PSUs Outstanding (2024 tranche) | 5,141 | D | TSR vs S&P 600 Industrials; vest on 12/31/2024 |
| PSUs Outstanding (2025 tranche) | 17,741 | D | TSR vs S&P 600 Industrials; vest on 12/31/2025 |
| PSUs Outstanding (2026 tranche) | 17,290 | D | TSR vs S&P 600 Industrials; vest on 12/31/2026 |
| SARs Outstanding (2023 grant) | 19,324 | D | Vests one-third annually; expires 03/07/2033; $7.45 strike |
| SARs Outstanding (2024 grant) | 28,130 | D | Vests one-third annually; expires 03/11/2034; $8.20 strike |
- Pledging/hedging: No pledging by Heuschmid is disclosed; company-wide anti-pledging/hedging specifics were not found in the NVRI proxy excerpts reviewed .
- Stock ownership guidelines: NVRI applies 3x base salary ownership to its CFO per 5.02 disclosure; the precise multiple applicable to division presidents is not disclosed in filings reviewed .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Current/Last Role | Senior Vice President and President, Harsco Rail | |
| Start in President Role | November 2022 | |
| Departure | Leaves organization effective June 1, 2025 | |
| Successor | Gary Lada as President of Harsco Rail effective May 5, 2025 | |
| Change-in-Control (company-level) | Amended and restated CIC agreements provide 2–3x salary+target bonus for certain executives; broader vesting/benefit terms upon CoC or Material Divestment | |
| Section 16 Administration | Power of Attorney for Forms 3/4/5 executed April 23, 2024 (filed with Form 3) |
Rail Segment Performance During Heuschmid’s Tenure
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Harsco Rail Revenues ($MM) | $58 | $64 |
| Adjusted EBITDA ($MM) | $(2) | $(4) |
| Adjusted EBITDA Margin (%) | (4.3)% | (5.7)% |
| Metric | 9M 2025 |
|---|---|
| Harsco Rail Revenues ($000) | $191,543 |
| Adjusted EBITDA ($000) | $(9,170) |
- Management commentary highlighted unprecedented demand weakness in standard equipment and aftermarket parts, ongoing ETO contract execution (SBB, DB), ongoing negotiations with Network Rail, and an expected positive cash flow profile in 2027 as ETO contracts mature .
Investment Implications
- Retention/transition risk: Heuschmid’s departure effective June 1, 2025 and handoff to an externally experienced rail leader (Gary Lada) indicates a near-term leadership transition for Rail amid operational turnaround efforts; continuity risk exists but management asserts operational focus and ETO experience in the new team .
- Pay-for-performance alignment: Heuschmid’s long-term equity incentives are heavily TSR-based PSUs relative to the S&P 600 Industrials Index, which supports shareholder alignment; RSUs and SARs add time-based retention and performance sensitivity; however, payout specifics and weighting are not disclosed .
- Insider selling pressure: RSU tranches vest annually and PSUs had scheduled expirations on 12/31/2024, 12/31/2025, and 12/31/2026; departure terms could affect vesting, limiting near-term selling pressure clarity without a separation agreement disclosure .
- Execution risk and trading signals: Rail’s weak demand and negative adjusted EBITDA, coupled with ETO cash consumption and strategic alternatives under evaluation, indicate elevated execution and earnings risk within the segment; investors should monitor updates on Network Rail, ETO deliveries, and 2026 outlook normalization .