Ryan Clark
Reynolds Consumer ProductsAbout Ryan Clark
Ryan Clark is President, Hefty Tableware at Reynolds Consumer Products, appointed effective May 20, 2025, reporting to the CEO; he brings 25+ years of CPG leadership at Post Consumer Brands, Conagra Brands, Kraft Foods, and Deloitte, and holds a BA in Economics (St. Lawrence University) and an MBA (Vanderbilt University) . Company context for pay-for-performance: in 2024, Reynolds delivered Adjusted EBIT of $549 million, Net Income of $352 million, and Revenues of $3,695 million; the 2024 AIP paid at 121% of target for senior executives on company results, while PSUs earned at 188% of target on Adjusted EPS growth and Free Cash Flow metrics . Executive compensation program received ~99% say‑on‑pay support in 2024, indicating strong shareholder alignment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Post Consumer Brands | Chief Commercial Officer, Grocery | Not disclosed | Expanded gross margins via portfolio optimization, pricing, productivity and market share growth |
| Post Consumer Brands (Animated Brands unit) | President | Not disclosed | Led double‑digit EBITDA growth of Peter Pan nut butter business |
| Conagra Brands | President, multiple business units (Protein Brands; Frozen Meals; Frozen & Refrigerated Foods; Grocery Foods) | 10 years | P&L leadership across multiple large categories |
| Kraft Foods | Brand Management roles of increasing scope | 11 years | Progressive marketing and brand leadership across categories |
| Deloitte & Touche | Early career | Not disclosed | Foundation in finance/accounting |
External Roles
- No public company board roles or external directorships disclosed in the Company’s press release and Form 8‑K announcing his appointment .
Fixed Compensation
- Base salary for Ryan Clark not disclosed as of the Company’s public filings reviewed. For context, the Company targets market‑median (50th percentile) total direct compensation versus a defined peer group when setting senior executive pay .
Performance Compensation
Company 2024 AIP framework for senior executives (including business unit presidents) and outcomes (context for the role Ryan now leads):
| Metric | Threshold | Target | Maximum | 2024 Actual | Weight | Payout Attainment |
|---|---|---|---|---|---|---|
| Adjusted EBIT Growth (vs. 2023) | $475m / 92.7% | $527m / 103.0% | $580m / 113.3% | $549m / 107% | 80% | 141% for metric; contributes 113% weighted |
| Revenue Growth (vs. 2023) | $3,657m / 97.3% | $3,850m / 102.5% | $4,042m / 107.6% | $3,695m / 98% | 20% | 40% for metric; contributes 8% weighted |
| Total AIP Payout | 121% of target |
Long‑Term Incentive (2024 grants) structure for senior executives:
| LTI Component | Weighting | Performance Period | Targets | 2024 Actual | Earned % |
|---|---|---|---|---|---|
| Adjusted EPS Growth (vs. 2023) | 50% | 2024 performance; vests on 3rd anniversary | $1.47 (103.5% of 2023) | $1.67 (118% of 2023) | 190.9% (for metric) |
| Free Cash Flow | 50% | 2024 performance; vests on 3rd anniversary | $315m | $369m | 185.7% (for metric) |
| Total PSU Earned | 188% of target |
Additional plan design (applies broadly to senior execs):
- RSUs vest 1/3 annually over three years, typically from February 1 following grant .
- PSUs are earned on annual metrics (e.g., Adjusted EPS and Free Cash Flow) and vest on the third anniversary of grant once earned .
Equity Ownership & Alignment
| Topic | Policy/Status |
|---|---|
| Ownership Guidelines | CEO: 5x salary; Business Unit Presidents and CFO: 3x salary; other execs: 2x salary. Unearned PSUs and options don’t count; time‑vested RSUs/earned PSUs do. Must retain at least 50% of net shares until compliant; after compliance date, 100% retention if below guideline . |
| Hedging/Pledging | Prohibited—no hedging (options, collars, swaps, etc.) and no pledging or margin holdings permitted for employees and directors . |
| Clawback | Amended and Restated Compensation Recoupment Policy effective Oct 2, 2023; covers incentive‑based comp for current/former exec officers over the three completed fiscal years preceding a required accounting restatement; recovery of erroneously awarded comp via reasonable and prompt means . |
| Beneficial Ownership | As of Feb 28, 2025 (record date for 2025 proxy), Ryan Clark was not listed among beneficial owners; his appointment occurred May 20, 2025, after the record date . |
| Vesting Cadence (implications for selling pressure) | RSUs typically vest in annual tranches; PSUs vest on the third anniversary if earned—standardized February 1 schedules may cluster settlement‑related transactions around that date for senior execs in general . |
Employment Terms
| Item | Detail |
|---|---|
| Start Date and Role | Appointed President, Hefty Tableware, effective May 20, 2025; reports to the President & CEO . |
| Non‑Compete/Eligibility | Equity award eligibility requires non‑competition agreements; execs are subject to stock ownership guidelines and clawback policy . |
| Employment Agreement/Severance | The Company discloses employment agreement terms for Named Executive Officers (NEOs): Business Unit Presidents (as NEOs in 2024) had severance of 12 months’ base salary (termination without cause) and, if within 12 months after a Sale of Business, 24 months’ base salary plus prorated target bonus, with 12 months COBRA assistance; restrictive covenants include one‑year non‑compete/non‑solicitation . Ryan Clark’s individual agreement terms were not disclosed as of filings reviewed. |
| Change‑in‑Control (CIC) Equity | Equity plan provides single‑trigger vesting of outstanding awards upon a Change in Control, with PSUs vesting based on likely/actual achievement as determined by the CNG Committee; in Oct 2024, future awards to the CEO were shifted to double‑trigger CIC treatment (policy specificity to other execs not disclosed) . |
Performance & Track Record
- At Post Consumer Brands, expanded gross margins through portfolio optimization, pricing, productivity, and market share growth .
- As President of Animated Brands (later integrated into Post), led double‑digit EBITDA growth for Peter Pan nut butter .
- At Conagra, held P&L leadership across multiple major business units (Protein Brands; Frozen Meals; Frozen & Refrigerated Foods; Grocery Foods) .
- Early tenure at Reynolds: on the Q2 2025 call, management highlighted that the new Head of Hefty Tableware (Ryan Clark) was leveraging his experience to implement plans to improve revenue and profit trends for the Tableware business .
Compensation Structure Analysis
- Strong pay-for-performance design: 80% of AIP tied to Adjusted EBIT growth and 20% to Revenue Growth; 2024 AIP paid 121% of target based on outcomes . LTI split 50/50 PSUs/RSUs with PSUs earned at 188% of target for 2024 performance, emphasizing operational execution and FCF discipline .
- Ownership alignment: 3x salary guideline for Business Unit Presidents and prohibitions on hedging/pledging reinforce alignment and reduce agency risk .
- No excise tax gross‑ups; no option repricing without shareholder approval; limited perquisites—shareholder‑friendly design elements .
- Peer group calibration at the 50th percentile with updates in 2024 (added Pactiv Evergreen, Yeti; removed Medifast, Nu Skin) suggests disciplined benchmarking and talent market realism .
- Say‑on‑pay at ~99% in 2024 indicates very high external validation of design/outcomes .
Equity Ownership & Alignment (Detail Table)
| Aspect | Detail |
|---|---|
| Stock Ownership Guideline for Role | Business Unit Presidents: 3x salary requirement; 50% net‑share retention until compliant; post‑deadline retention rises to 100% if below guideline . |
| Hedging/Pledging | Prohibited for employees and directors . |
| Clawback | Applies to incentive‑based pay for three completed fiscal years prior to restatement . |
| Current Ownership | Not disclosed for Ryan Clark as of Feb 28, 2025 record date; appointment occurred later . |
Compensation Peer Group (Benchmarking)
- Peer group used for 2024: AptarGroup, Central Garden & Pet, Church & Dwight, Edgewell, Energizer, Greif, Hasbro, Helen of Troy, O‑I Glass, Pactiv Evergreen (added), Sealed Air, Silgan, Snap‑on, Sonoco, Spectrum Brands, Clorox, Scotts Miracle‑Gro, Yeti (added); Medifast and Nu Skin were removed .
- Target market positioning: around 50th percentile for each element of total compensation, adjusted for performance and contributions .
Say‑on‑Pay & Shareholder Feedback
- 2024 say‑on‑pay approval ~99%; no material program changes attributable to the vote .
Risk Indicators & Red Flags
- Controlled company: PFL (Graeme Hart) owns ~73.9% as of Feb 28, 2025; directors nominated by PFL per Stockholders Agreement—implications for governance dynamics and compensation oversight .
- Anti‑hedging/pledging and clawback policies mitigate misalignment and restatement risk; no option repricing/excise tax gross‑ups .
- Related‑party arrangements with Pactiv Evergreen (supply/warehousing/leases) are disclosed and governed via policies; 2024 related‑party purchases ~$332m and sales $77m; freight/warehousing $28m; HQ lease at market terms—monitor for governance optics though transactions are longstanding and described as arm’s‑length .
Employment Terms (Company‑wide provisions relevant to senior executives)
| Provision | Summary |
|---|---|
| AIP Targets (2024 reference) | BU Presidents’ AIP target set at 65% of base salary (example: Bishop, Buckner) . |
| LTI Mix | 50% RSUs (time‑based, 3‑year ratable vesting), 50% PSUs (performance‑based, vest at 3 years) . |
| CIC Equity | Equity plan is single‑trigger for most awards; CEO’s future awards shifted to double‑trigger starting Oct 2024 approach . |
| Severance | For BU Presidents (as NEOs in 2024): 12 months base salary (without cause); 24 months base + prorated target bonus if termination within 12 months post Sale of Business; 12 months COBRA premium assistance; one‑year non‑compete/non‑solicit . |
Investment Implications
- Alignment: Ownership guidelines (3x salary), clawback, and anti‑hedging/pledging policies support strong alignment; AIP/PSU metrics (Adjusted EBIT, Adjusted EPS, FCF) directly tie pay to profitability and cash generation—key levers for valuation and de‑risking .
- Retention/overhang: Standard RSU/PSU vesting (Feb 1 cadence) can create periodic selling events, but retention features and ownership requirements temper near‑term selling pressure; overall insider selling pressure for Ryan Clark is unknown pending Form 3/4 filings and grant disclosures .
- Execution upside: Clark’s track record (gross margin expansion, double‑digit EBITDA growth in prior roles) and early commentary that he is implementing plans to improve Tableware revenue/profit trends suggest potential for mix, pricing, and productivity gains within Hefty Tableware—a segment with clear levers to margin .
- Governance context: Controlled company structure centralizes board nomination at PFL; investors should monitor compensation discipline and related‑party transactions, though say‑on‑pay support (99%) and explicit policies (no hedging/pledging, no repricing, clawback) are positives .