John Duffy
About John Duffy
John C. Duffy, 41, serves as General Counsel (and Secretary) of Olaplex Holdings, Inc. since April 2022. He previously held senior corporate legal roles at Tiffany & Co. (advancing to Vice President – Associate General Counsel, Corporate & Real Estate) and practiced corporate/securities law at Cravath, Swaine & Moore LLP (2009–2014). He holds a J.D. and M.B.A. from Duke University and a B.A. in Economics from Princeton University . Over his tenure, company performance metrics show net sales declined from $704.27M (2022) to $422.67M (2024) and net income from $244.07M (2022) to $19.52M (2024); the value of a hypothetical $100 TSR investment measured $21.27 (2022), $10.37 (2023), and $7.06 (2024), vs peer group $112.61 (2022), $113.19 (2023), and $130.03 (2024) .
Company Performance During Duffy’s Tenure
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Sales ($USD Millions) | $704.27 | $458.30 | $422.67 |
| Net Income ($USD Millions) | $244.07 | $61.59 | $19.52 |
| TSR – Value of $100 Investment ($USD) | $21.27 | $10.37 | $7.06 |
| Peer Group TSR – Value of $100 Investment ($USD) | $112.61 | $113.19 | $130.03 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Tiffany & Co. | Senior corporate attorney; progressed to VP – Associate GC, Corporate & Real Estate | 2014–Apr 2022 (prior to joining OLPX) | Led corporate, transactional, governance, sustainability, and financing legal work |
| Cravath, Swaine & Moore LLP | Attorney, corporate/transactional/securities law | 2009–2014 | Advised on complex corporate and securities matters |
External Roles
- No public company board roles or committee memberships are disclosed for Mr. Duffy in OLPX’s proxy materials .
Fixed Compensation
- Mr. Duffy is not a “named executive officer” (NEO) in 2024, so his individual base salary and cash compensation amounts are not disclosed. OLPX targets base salaries and total cash compensation at competitive peer and market levels, considering scope, tenure, and individual performance .
Performance Compensation
FY2024 Annual Bonus Program – Company Metrics
| Metric | Weighting (%) | Target Definition | FY2024 Actual | Payout (% of Target) | Vesting |
|---|---|---|---|---|---|
| Net Sales | Not disclosed | Company net sales goal | Not disclosed at the metric level | 46% of target determined by Compensation Committee | Cash (annual bonus) |
| Adjusted EBITDA | Not disclosed | Company adjusted EBITDA goal | Not disclosed at the metric level | 46% of target determined by Compensation Committee | Cash (annual bonus) |
- Program design links annual bonuses to company performance goals (net sales, adjusted EBITDA) and individual performance; significant portion of executive pay is performance-based .
Equity Ownership & Alignment
| Policy/Guideline | Requirement | Applicability | Notes |
|---|---|---|---|
| Stock Ownership Guidelines | Executive officers must hold vested equity valued at ≥3× total target annual cash compensation | Executive officers (incl. General Counsel) | New executives must reach compliance within 5 years following the later of Feb 28, 2022 or designation date; until met, must retain 67% of net shares from equity vesting/exercise |
| Anti-Hedging | Prohibited (e.g., prepaid forwards, swaps, collars, exchange funds) | Directors, officers, employees per Insider Trading Policy | Aims to prevent misalignment and risk transfer |
| Anti-Pledging/Margin | Prohibited (no margin accounts or pledging) | Directors, officers, employees per Insider Trading Policy | Reduces forced-sale/pledge risks |
| Clawback (Exchange Act 10D) | Mandatory recoupment of incentive-based comp tied to financial reporting in restatement scenarios (last 3 completed fiscal years) | Section 16 officers; effective for comp received on/after Oct 2, 2023 | Separate discretionary clawback covers VPs+ for restatements or detrimental conduct |
- Duffy’s specific equity awards, vesting schedules, exercisable/unexercisable options, and beneficial ownership are not disclosed in the proxy (NEO-only tables list others) .
Employment Terms
- Company-wide practices include: no change-in-control cash severance or bonus agreements, minimum stock ownership requirements, independent compensation consultant, clawback policies, anti-hedging/pledging, and no option repricing without stockholder consent; no golden parachute tax gross-ups; no significant executive perquisites .
- Equity grant timing guidelines are designed to avoid grants near material nonpublic information; full Board approval required for Section 16 officers .
Governance and Say-on-Pay
- Compensation Committee: John P. Bilbrey, Tricia Glynn (Chair), David Mussafer .
- Say-on-Pay support: 2023 received over 91% support of votes cast ; 2025 (FY2024 compensation) For 607,634,525; Against 6,017,775; Abstain 668,994; Broker non-votes 15,814,276 .
Say-on-Pay Voting Results
| Meeting Year | For | Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| 2023 | 91%+ support (votes cast) | — | — | — |
| 2025 | 607,634,525 | 6,017,775 | 668,994 | 15,814,276 |
Investment Implications
- Alignment signals: strict anti-hedging/pledging, mandatory clawbacks, and stock ownership guidelines with a 67% net-share retention rule reduce hedging/pledge risks and near-term selling pressure; Duffy is covered as an executive officer/Section 16 officer per policy .
- Pay-for-performance design: annual bonuses tied to net sales and adjusted EBITDA; 2024 payout set at 46% of target indicates discipline amidst operational headwinds .
- Disclosure gap: Duffy is not a NEO, so individual salary, bonus targets, equity grants, vesting, and beneficial ownership are not available—limiting precision on his personal pay-performance alignment and retention risk .
- Execution risk context: company TSR significantly lagged peers across 2022–2024 and net sales declined, underscoring ongoing turnaround demands; governance and compensation frameworks appear robust, but fundamentals may continue to drive sentiment and trading signals more than insider incentives alone .