Deon A. Carter
OLINAbout Deon A. Carter
Deon A. Carter, age 57, is Vice President and President, Chlor Alkali Products & Vinyls at Olin, serving as an executive officer since 2024. He holds a Bachelor’s degree in Chemical Engineering from the University of Cape Town and previously served as COO at Continental Industries Group, with prior senior leadership roles at Engelhard/BASF (Global Polyolefin Catalysts, Oil Refining Catalyst VP, SVP Precious Metals, SVP Performance Chemicals) and as President & CEO of Scientific Design Company, Inc. . Under his leadership of the Chlor Alkali Products & Vinyls segment, Olin reported Q3 2025 sales of $924.0M vs $871.6M in Q3 2024, and segment earnings of $127.6M vs $45.3M; drivers included a $32.0M pretax clean hydrogen tax credit, hurricane-related impacts in 2024, and pricing-volume mix across EDC and caustic soda . Company STIP design ties divisional presidents’ annual incentives to Division Adjusted EBITDA and Division Adjusted Cash Flow plus corporate metrics and non-financial goals; in 2024, chemicals division financial metrics were below threshold while non-financial goals paid 16% of target .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Continental Industries Group | Chief Operating Officer | Apr 2023–2024 | Led operations as COO prior to joining Olin |
| BASF | General Manager, Global Polyolefin Catalysts; VP Oil Refining Catalyst; SVP Precious Metals; SVP Performance Chemicals | 2006–2017 (roles as noted) | Senior leadership across catalysts and performance chemicals businesses |
| Engelhard Corporation | Various roles with multiple international assignments | Pre-2006 | International operating and technical leadership in chemicals |
| Scientific Design Company, Inc. | President & CEO | Pre-2023 (prior to Continental) | CEO of process technology firm |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No external directorships disclosed in Olin’s Executive Officers section |
Fixed Compensation
- Individual base salary, target bonus %, and actual bonus for Deon A. Carter are not disclosed; he was not included among Olin’s Named Executive Officers for 2024 and therefore does not appear in the Summary Compensation Table .
Performance Compensation
- Olin’s STIP framework for executive officers (including divisional presidents) in 2024: 80% financial (Division Adjusted EBITDA and Division Adjusted Cash Flow for divisional roles with corporate overlay; Adjusted EBITDA and Levered Free Cash Flow for corporate roles), and 20% non-financial objectives (Safety, Health & Environmental and Strategic Goals) .
- Chemicals Division 2024 STIP financial results versus targets:
| Metric (Chemicals Division) | Threshold ($MM) | Target ($MM) | Maximum ($MM) | Actual ($MM) | Payout % |
|---|---|---|---|---|---|
| Adjusted EBITDA | $940.3 | $1,306.0 | $1,567.2 | $816.0 | —% |
| Adjusted Cash Flow | $756.0 | $1,050.0 | $1,260.0 | $673.7 | —% |
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Non-financial objectives payout for executives in aggregate: 16.0% of target (Strategic Goals 15.0%, Safety/Health/Environmental 1.0%) .
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LTIP design applicable to executive officers: 2024 awards delivered 50% performance share units (PSUs) and 50% stock options; PSUs split 50% on relative TSR versus S&P 1500 Materials plus Huntsman and 50% on annual and cumulative Net Income goals over three years; options vest in three equal annual installments with 10-year terms (2024 option grant exercise price $52.29 per share) . Beginning in 2025, LTIP mix shifts to 60% PSUs and 40% time-vested RSUs, and PSUs maintain double-trigger vesting in a change in control .
Equity Ownership & Alignment
- Beneficial ownership as of March 3, 2025 (rounded): Deon A. Carter—no shares reported .
- Options exercisable within 60 days of March 3, 2025: none reported for Deon A. Carter .
- Hedging and pledging: Olin prohibits hedging/monetization and pledging of company stock by directors and executive officers; as of March 3, 2025, no shares were pledged by any director or executive officer .
- Stock ownership guidelines: Vice Presidents are required to hold Olin stock equal to 2× base salary, with a five-year period to reach compliance; as of December 31, 2024, all covered executives were in compliance to the extent possible (new executives have time to comply) .
| Ownership Item (as of record date) | Value |
|---|---|
| Shares beneficially owned (#) | — |
| Options exercisable in 60 days (#) | — |
| Shares pledged (#) | 0 (none pledged by any director or executive officer) |
| Ownership guideline | 2× salary for Vice Presidents; 5-year compliance window |
Employment Terms
- Executive Severance Plans: Olin maintains a Severance Plan for Section 16(b) Officers and a Change in Control Severance Plan for Section 16(b) Officers (double-trigger). Severance benefits require execution and non-revocation of a separation release and compliance with restrictive covenants (non-disparagement, non-compete, non-solicit) during the severance period .
- Severance (no change in control): Generally, 12 months of severance equal to one times salary plus target annual cash incentive, pro rata STIP if termination occurs in the last three quarters, pro-rata PSUs (based on actual performance), any unvested retention bonus, 12 months of medical/dental/life benefits at active rates, and up to 12 months of outplacement .
- Change in control (double-trigger within two years): Generally, lump-sum cash equal to two times salary plus target annual cash incentive (three times for CEO), pro-rated annual cash incentive for the year of termination (if in last three quarters), vesting/payment of unvested PSUs at target, RSUs at maximum, vesting of unvested stock options, any unvested retention bonus, continuation of medical/dental/life benefits for 24 months (36 months for CEO), and up to 12 months outplacement .
- Clawback: Executive officers are subject to Olin’s clawback policy for incentive-based compensation in the event of accounting restatements or misconduct-driven outcomes; recovery can include previously paid STIP and LTIP amounts as defined in policy .
Performance & Track Record
- Segment performance under Carter’s leadership (Chlor Alkali Products & Vinyls):
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Sales ($MM) | $871.6 | $924.0 |
| Segment earnings ($MM) | $45.3 | $127.6 |
- Notes: Q3 2025 earnings included a $32.0M pretax clean hydrogen tax credit; Q3 2024 results included $76.7M of hurricane-related costs and effects. Remaining earnings changes reflected lower EDC pricing offset by higher caustic soda pricing and higher volumes (EDC and caustic soda) .
Compensation Committee & Governance Context
- Independent Compensation Committee and independent consultant Exequity advise on program design, comparator groups, and award decisions .
- Comparator group: Olin benchmarks executive pay against a chemicals peer group to align market competitiveness in compensation .
- Say-on-pay: 96.6% approval at Olin’s 2024 annual meeting, signaling broad shareholder support for the executive compensation program .
- Executive trading policy: Olin’s insider trading policy governs securities transactions by insiders and prohibits hedging/pledging activities .
Investment Implications
- Alignment: As of March 3, 2025, Carter reported no beneficial share ownership and no exercisable options, while Olin enforces strict anti-hedging/pledging and requires Vice Presidents to reach 2× salary ownership within five years—alignment should increase over time given policy structure .
- Incentive levers and payout sensitivity: Divisional STIP metrics for chemicals (Adjusted EBITDA and Adjusted Cash Flow) did not meet thresholds in 2024, demonstrating pay-for-performance discipline; non-financial goals contributed 16% of target, highlighting balanced scorecard emphasis .
- Retention risk mitigants: Double-trigger CIC protections, structured severance terms, and 2025 LTIP emphasis on PSUs/RSUs (with double-trigger vesting on PSUs) provide retention and continuity incentives during strategic transitions .
- Execution indicators: CAPV’s Q3 2025 rebound vs 2024 (with structural tax credits and operational recovery from hurricane impacts) offers positive context for segment execution during Carter’s tenure, though broader price/volume dynamics in EDC and caustic soda remain cyclical and should be monitored for sustainability .