Robert King
Ranpak HoldingsAbout Robert C. King
Robert C. King, 66, is an independent Class II director of Ranpak Holdings Corp. (PACK) who has served on the Board since June 2019; his current term runs through the 2027 annual meeting . He brings 40+ years of CPG operating leadership, including senior roles at Pepsi Bottling Group and as CEO of CytoSport, and holds a B.A. in English from Fairfield University . King currently serves on PACK’s Audit Committee and Compensation Committee, and the Board has affirmatively determined his independence under NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pepsi Bottling Group Inc. (PBG) | EVP & President, North America (oversight of U.S., Canada, Mexico) | Nov 2008–2010 | Led North America operations |
| Bottling Group (PBG N.A.) | President, North American business | Dec 2006–Nov 2008 | Operating leadership across N.A. |
| PBG | President, North American Field Operations | Oct 2005–Dec 2006 | Field ops leadership |
| PBG | SVP & GM, Mid-Atlantic BU | 2002–2005 | Regional P&L |
| CytoSport, Inc. | Chief Executive Officer | Jun 2013–Aug 2014 | CEO turnaround/scale experience |
| TSG Consumer Partners | Advisor | Mar 2011–Jul 2013 | PE advisory (consumer) |
| E&J Gallo Winery | Sales & Marketing roles | 1984–1989 | Brand/route-to-market |
| Procter & Gamble | Sales & Marketing roles | 1980–1984 | CPG commercial fundamentals |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Arctic Glacier (Carlyle portfolio) | Chairman | Since Aug 2017 | Private company chair role |
| ProDriven Global Brands (Triton Partners portfolio) | Chairman | Since Jun 2020 | Private company chair role |
| Wind Point Partners | Executive Advisory Partner; Chair of Gehl Foods (WPP portfolio) | Since May 2015 | PE advisory; portfolio company chair |
| Freshpet, Inc. | Director (prior) | Not specified | Public company board experience |
| CytoSport; Island Oasis Frozen Cocktail; Neurobrands; Exal Corp. | Director/Advisor (prior) | Not specified | Consumer/packaging ecosystem |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Independent under NYSE guidelines |
| Board Class/Term | Class II; term expires at 2027 Annual Meeting |
| Committee Memberships | Audit Committee (member); Compensation Committee (member) |
| Audit Committee Expertise | All Audit members (incl. King) qualify as “Audit Committee financial expert” under SEC rules |
| Meeting Attendance | In 2024, the Board met 6x; Audit 11x; Compensation 5x; NS&G 5x; each director attended ≥75% of applicable meetings |
| Board Leadership | CEO also serves as Chair; independent directors meet in executive session each quarterly meeting (presided by NS&G Chair) |
| Shareholder Engagement | Engaged with 28 largest holders (~81% of outstanding shares; 72% of institutional) post-2024 AGM |
Fixed Compensation
| Year | Cash Fees (incl. retainer, committee/chair fees) | Notes |
|---|---|---|
| 2024 | $95,000 | Standard non-employee director cash retainer is $75,000; chair adders: Audit +$20k; other committees +$10k; Comp Chair +$15k starting 2025 |
Performance Compensation
| Year | Equity Type | Grant Date Value | Vesting | Performance Metrics |
|---|---|---|---|---|
| 2024 | RSUs (annual director grant) | $100,000 | Vests on earlier of 1st anniversary or next annual meeting | Not applicable—director RSUs are time-based (no PSUs disclosed for directors) |
Additional equity context:
- RSUs outstanding at 12/31/2024: 15,625 (for King) .
Other Directorships & Interlocks
| Company | Sector/Type | Role | Potential Interlock/Notes |
|---|---|---|---|
| Arctic Glacier (Carlyle) | Private/Consumer services | Chairman | No PACK related-party transactions disclosed involving King |
| ProDriven Global Brands (Triton) | Private/Consumer | Chairman | No PACK related-party transactions disclosed involving King |
| Gehl Foods (Wind Point Partners) | Private/Food | Chairman | No PACK related-party transactions disclosed involving King |
| Freshpet, Inc. | Public/Consumer | Director (prior) | Public board experience |
Board observers: JS Capital, Soros Capital, Schusterman Family Investments each have the right to designate one observer to the PACK Board (observers are not directors) .
Expertise & Qualifications
- Deep CPG operating leadership (Pepsi Bottling Group EVP/President North America; regional and field ops) and CEO experience (CytoSport), aligned to PACK’s route-to-market and operations focus .
- Audit oversight credentials: Audit Committee member; Audit Committee states all members qualify as “financial expert” under SEC rules .
- Private equity advisory and portfolio chair roles enhance strategic/M&A judgment and transformation experience .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | % Outstanding | Notes |
|---|---|---|---|
| Robert C. King | 142,782 | <1% | Includes 15,625 RSUs vesting within 60 days of 3/28/2025 |
Ownership alignment policies:
- Stock ownership guidelines: non-employee directors must hold stock valued at ≥3x annual cash retainer; if not met, sales restricted except for tax withholding on vesting; unearned PRSUs excluded .
- Anti-hedging and anti-pledging: directors prohibited from hedging and pledging PACK securities; no margin accounts .
Governance Assessment
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Strengths
- Independent director with significant CPG operating and P&L experience; serves on both Audit and Compensation committees, supporting board effectiveness and oversight .
- Audit Committee “financial expert” designation for all members, bolstering financial reporting oversight .
- Strong alignment and guardrails: director ownership guidelines (3x retainer) and strict anti-hedging/pledging policies .
- Compensation Committee engages independent consultant (FW Cook) with no conflicts identified in 2024, indicating sound process .
-
Potential risk indicators to monitor
- External chair roles (Arctic Glacier, ProDriven, Gehl Foods) create time-commitment and potential conflict surfaces; however, no related-party transactions involving King were disclosed in 2024–2025 proxy period .
- Concentrated shareholders with board observers (JS Capital, Soros Capital, Schusterman) may influence governance dynamics; Board affirms seven independent directors including King .
- PACK maintains a Shared Services Agreement with Sponsor One Madison Group LLC (fees of ~$0.2–$0.3mm annually), reviewed under related-party procedures; no King-specific involvement disclosed .
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Director compensation mix and signals
- 2024 comp is balanced between cash ($95k) and equity RSUs ($100k), consistent with peer-aligned director pay structure and at-risk alignment via equity vesting tied to service through the next AGM/one year .
- No options granted to directors; company indicates it does not currently grant stock options, reducing repricing risk; clawback policy applies to executive incentive comp and anti-hedging applies to directors .
Overall, Robert C. King’s profile supports investor confidence on operational oversight and pay governance, with standard director pay structure, independence affirmations, financial expertise on Audit, and no disclosed related-party conflicts involving him. Continued monitoring of external commitments and board observer dynamics is warranted, but current policies and committee composition mitigate risk .