Rita Fisher
Chief Information Officer and Executive Vice President, Supply Chain at 
Reynolds Consumer Products
Reynolds Consumer ProductsExecutive
About Rita Fisher
Chief Information Officer and Executive Vice President, Supply Chain at Reynolds Consumer Products since August 2017. Background: 22 years at Kraft Heinz in global IT and supply chain leadership (Head of Global IT; Senior Director, Supply Chain Transformation), and earlier as Senior Business Analyst at People’s Gas Company; board director at Lamb Weston Holdings, Inc. Education: B.S. Mathematics & Computer Science (University of Illinois at Chicago), M.S. Computer Science (DePaul University). Age 55 as of Feb 28, 2025; tenure at REYN >8 years . Company performance context: Net Income rose to $352m and Adjusted EBIT to $549m in FY2024; TSR value of a $100 investment reached 109 by FY2024, indicating modest multi‑year equity value creation within a controlled-company framework .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kraft Heinz | Vice President; Head of Global Business Services; Head of Global IT; Senior Director, Supply Chain Transformation | ~22 years (prior to 2017) | Led global IT and supply chain transformation initiatives at a Fortune 500 CPG enterprise . |
| People’s Gas Company | Senior Business Analyst | Early career | Built foundational analytics and process capabilities ahead of subsequent CPG leadership roles . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lamb Weston Holdings, Inc. | Board Director | Current | External board experience adds food category insights and governance exposure; potential network benefits for supply chain strategy . |
Fixed Compensation
- Rita Fisher is disclosed as an executive officer but not a Named Executive Officer (NEO); her individual base salary, target bonus, and actual bonus are not itemized in the proxy tables. REYN’s executive pay architecture emphasizes pay-for-performance, limited perquisites, clawbacks, stock ownership guidelines, and non‑compete requirements for equity eligibility .
Performance Compensation
Company incentive designs used for senior executives (which typically include executive officers):
| Metric | Weight | Target | Actual | Payout vs Target | Vesting/Notes |
|---|---|---|---|---|---|
| Annual Incentive Program (AIP): Adjusted EBIT Growth (FY2024 vs FY2023) | 80% | $527m (103% of FY2023) | $549m (107% of FY2023) | 141% metric attainment → 113% weighted | Cash payout based on annual results . |
| Annual Incentive Program (AIP): Revenue Growth (FY2024 vs FY2023) | 20% | $3,850m (102.5% of FY2023) | $3,695m (98% of FY2023) | 40% metric attainment → 8% weighted | Cash payout based on annual results . |
| AIP Total | 100% | — | — | 121% total payout vs target | Applies to senior executives; individual payouts vary . |
| Long-Term Incentive (LTI) PSUs: Adjusted EPS Growth (2024 vs 2023) | 50% | $1.47 (103.5%) | $1.67 (118%) | 190.9% metric attainment → 95% weighted | PSUs earned; vest on 3rd anniversary of grant . |
| Long-Term Incentive (LTI) PSUs: Free Cash Flow (FY2024) | 50% | $315m | $369m | 185.7% metric attainment → 93% weighted | PSUs earned; vest on 3rd anniversary of grant . |
| LTI PSUs Total | 100% | — | — | 188% of target earned | PSU design aligns to profitability and cash generation . |
| LTI RSUs | — | — | — | — | Time-based, vest 1/3 each year over 3 years . |
- Performance measures prioritized by REYN for linking pay to performance include Adjusted EBIT, Revenue, Adjusted EPS, Adjusted EBITDA, and Free Cash Flow .
Equity Ownership & Alignment
- Ownership guidelines for executive officers: CEO 5x salary; Business Unit Presidents & CFO 3x; Other executive officers 2x salary. Earned full-value awards (RSUs/earned PSUs) count; unearned PSUs and options do not. Compliance window: by July 1, 2028 or five years after becoming subject; mandatory retention of net shares until compliance achieved .
- Anti-hedging and anti-pledging: Executives and directors are prohibited from hedging and pledging company securities (including margin accounts), reducing alignment risks and potential forced selling .
- Clawback: Amended and Restated Compensation Recoupment Policy (effective Oct 2, 2023) requires recovery of erroneously awarded incentive compensation after restatements, covering the prior three completed fiscal years for current/former executive officers .
- Form 4 activity for Rita Fisher (indicative of RSU grants/vesting and tax withholding):
- Jan 30, 2025: Form 4 filed (RSU-related) .
- Feb 4, 2025: Form 4 filed; shares withheld to satisfy taxes upon vesting .
- Jan 25, 2024: Form 4 filed (RSUs) .
- Feb 3, 2023: Form 4 filed; tax withholding upon vesting .
- SEC archive reference for Fisher Form 4 XML .
- Beneficial ownership: Rita Fisher’s share count is not enumerated in the 2025 “Security Ownership” table (NEOs and directors listed); executive ownership policies apply, and Form 4s reflect ongoing RSU vesting/tax settlement activity .
Employment Terms
- Equity eligibility requires a non‑competition agreement; executives are subject to restrictive covenants (non‑compete and non‑solicit) and clawbacks as noted above .
- Employment agreements, severance, and change-of-control specifics are disclosed for NEOs (not individualized for Rita Fisher): cash severance multiples (1–2x base; prorated target bonus) with increased benefits after a “Sale of Business”; COBRA premium assistance; equity award treatment governed by RSU/PSU agreements including “Enhanced Retirement” provisions (definitions, pro‑rata vesting, and continued vesting conditions) .
- Change-in-control: Equity Incentive Plan provides immediate vesting and settlement upon change in control; PSU vesting based on likely/actual performance at CIC, per CNG Committee determination; note the Board adopted double‑trigger vesting for the CEO for future awards in Oct 2024 (plan governance detail) .
Performance & Track Record
Company performance under the executive team’s stewardship:
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Net Income ($USD Millions) | $324 | $258 | $298 | $352 |
| Adjusted EBIT ($USD Millions) | $492 | $429 | $512 | $549 |
| TSR ($100 initial value) | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Company TSR ($) | 116 | 114 | 105 | 109 |
| Peer Group TSR ($) | 131 | 121 | 120 | 141 |
- Incentive outcomes: FY2024 AIP paid at 121% of target based on Adjusted EBIT and Revenue outcomes; FY2024 PSU cohort earned at 188% of target on Adjusted EPS and Free Cash Flow—signals strong performance alignment to profitability and cash generation .
- Say‑on‑pay support: ~99% approval at 2024 annual meeting, indicating broad shareholder endorsement of the compensation program .
Compensation Committee Analysis and Peer Benchmarking
- Independent consultant (Pearl Meyer) advises the CNG Committee; pay levels benchmarked around market medians, with mix emphasizing variable compensation and equity .
- 2024 Benchmark Comparison Group includes: AptarGroup, Central Garden & Pet, Church & Dwight, Edgewell, Energizer, Greif, Hasbro, Helen of Troy, O-I Glass, Pactiv Evergreen, Sealed Air, Silgan, Snap‑on, Sonoco, Spectrum Brands, Clorox, Scotts Miracle‑Gro, Yeti .
Risk Indicators & Red Flags
- Hedging/pledging prohibited—reduces alignment risk .
- Clawback policy in place—mitigates restatement risk .
- No disclosures of tax gross‑ups, repricing/exchange of underwater options, or related‑party transactions involving executive officers; related party arrangements with Pactiv Evergreen (freight/warehousing; supply; leases) are governed by policy and disclosed with amounts .
Investment Implications
- Alignment: Executive ownership requirements (2x salary for “other executive officers”), anti‑hedging/pledging bans, and clawbacks point to strong alignment mechanisms for Rita Fisher’s role—especially relevant for a CIO/EVP Supply Chain overseeing cost, resiliency, and margin levers .
- Incentive design favors profitability and cash generation (Adjusted EBIT, Adjusted EPS, FCF), which are core supply chain value drivers; recent PSU outcomes (188% for FY2024) underscore execution against cost and cash metrics .
- Retention pressure appears modest: time‑based RSUs and three‑year PSU vesting create rolling equity stakes; “Enhanced Retirement” and restrictive covenants sustain post‑service vesting conditions, reducing abrupt selling pressure risk; Form 4s show typical tax-withholding settlements rather than discretionary selling .
- Monitoring signals: Track future AIP/PSU metric calibration (any easing/tightening), Fisher’s Form 4 activity around vest dates, and compliance progress vs ownership guidelines. Continued improvement in Adjusted EBIT and FCF would reinforce incentive alignment and lower execution risk for supply chain initiatives .