Scott Huckins
Reynolds Consumer ProductsAbout Scott Huckins
Scott Huckins (age 58) is President & Chief Executive Officer of Reynolds Consumer Products and joined the Board in January 2025; he previously served as CFO from November 2023 to December 2024. He holds a B.S. in Finance (Arizona State University) and a Master of Management in Finance and Strategy (Northwestern, Kellogg) . 2024 performance under his senior leadership saw Adjusted EBIT at $549m (107% of 2023), company TSR at 109 (value of initial $100 since IPO), and PSU metrics achieved at 188% of target driven by Adjusted EPS of $1.67 (118% of 2023) and Free Cash Flow of $369m . Governance context: the Board has an Independent Chairman; REYN is a controlled company under Nasdaq rules (PFL control), and Huckins serves as a non‑independent, management director (no committees) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Reynolds Consumer Products | President & CEO; Director | 2025–present | Oversight of growth/margin strategy; independent chair structure; controlled company context . |
| Reynolds Consumer Products | Chief Financial Officer | 2023–2024 | Transitioned capital allocation and incentive design; 2024 AIP paid at 121% and PSUs earned at 188% of target . |
| SunOpta, Inc. | Chief Financial Officer | 2019–2023 | Public company CFO experience (CPG/food) . |
| Claire’s Stores Inc. | Chief Financial Officer | 2016–2019 | Specialty retail finance leadership . |
| Sears Holdings | VP, Treasurer; President, Sears Reinsurance Co., Ltd. | 2012–2016 | Corporate treasury and captive insurance leadership . |
| RCS Holdings, Inc. | VP, Treasury, Tax & IR | 2010–2012 | Corporate finance and IR . |
| Pioneer Advisors | Principal | 2008–2009 | Advisory principal role . |
| Koch Industries & affiliates (incl. KoSa B.V.) | President & CEO, Koch Financial Products; CFO Capital Markets Division; Treasurer, Koch Industries; CFO KoSa | 2001–2008 | Broad finance/markets leadership across diversified industrials . |
External Roles
No current external public company directorships disclosed for Huckins in the 2025 proxy .
Fixed Compensation
| Component (Scott Huckins) | 2024 amount/terms | Notes |
|---|---|---|
| Base salary | $675,000 | As CFO in 2024 (no 2024 base change); became CEO 1/1/2025 . |
| Target annual bonus (AIP) | 75% of base salary | Targets set Q1’24; paid on 2024 results . |
| Actual 2024 bonus (AIP payout) | $612,563 | Total payout 121% of target . |
| 2023 sign‑on bonus | $500,000 | Paid Dec 29, 2023 . |
| Director fees | $0 | Company employees receive no additional director pay . |
Performance Compensation
Annual Incentive Program (AIP) – 2024
| Metric | Threshold | Target | Maximum | Actual/Result | Weight | Payout on metric | Total payout vs target |
|---|---|---|---|---|---|---|---|
| Adjusted EBIT Growth vs 2023 | $475m (92.7%) | $527m (103.0%) | $580m (113.3%) | $549m (107%) | 80% | 141% | 121% overall |
| Revenue Growth vs 2023 | $3,657m (97.3%) | $3,850m (102.5%) | $4,042m (107.6%) | $3,695m (98%) | 20% | 40% | |
| Payout to Huckins | $612,563 | ||||||
| All figures and payout math per 2025 DEF 14A (Appendix A reconciles non‑GAAP) . |
Long‑Term Incentive (LTI) – 2024 grants and outcomes
| Item | Detail |
|---|---|
| Mix | 50% time‑based RSUs; 50% PSUs . |
| Huckins 2024 grant sizes | RSUs: 23,125; PSUs (target): 23,125 . |
| PSU performance metrics | 50% Adjusted EPS Growth; 50% Free Cash Flow; 25–200% payout curves . |
| 2024 performance vs targets | Adjusted EPS $1.67 = 118% of 2023 (190.9% earn); FCF $369m (185.7% earn) → blended 188% of target . |
| Huckins PSUs earned (from 2024 grant) | 43,475 PSUs earned; vests Feb 1, 2027 (3rd anniversary) . |
| RSU vesting | Time‑based; 1/3 each on Feb 1, 2025/2026/2027 . |
| No stock options | No option grants disclosed for NEOs; table shows only RSUs/PSUs . |
Equity Ownership & Alignment
- Beneficial ownership (2/28/2025): 18,060 shares; total shares outstanding 210,318,222 → ~0.0086% of shares outstanding (Company notes “<1%”) .
- Ownership guidelines: CEO must hold 5x base salary; compliance due by the later of July 1, 2028 or five years after becoming subject (for Huckins, five years after 1/1/2025 = 1/1/2030). Until met, must retain at least 50% of net shares from vesting; 100% retention if below level after compliance date .
- Hedging/pledging: Company prohibits both hedging and pledging of Company stock (RED FLAG check mitigated) .
Unvested awards and vesting cadence (as of 12/31/2024)
| Grant | Type | Unvested units | Market value at $26.99 | Vesting schedule |
|---|---|---|---|---|
| 12/1/2023 | RSUs | 37,764 | $1,019,250 | 50% on 12/1/2025; 50% on 12/1/2026 . |
| 2/1/2024 | RSUs + earned PSUs | 66,600 | $1,797,534 | RSUs: 1/3 on 2/1/2025, 2/1/2026, 2/1/2027; PSUs earned vest 2/1/2027 . |
| Total | 104,364 | $2,816,784 | See above . |
Implications for insider selling pressure
- Near‑dated vesting events (12/1/2025; 2/1/2026) could add liquidity windows, but retention rules require net share holding until ownership guideline is met; hedging/pledging is banned, reducing forced‑sale risk from collateral calls .
Employment Terms
| Term | CEO (effective 1/1/2025) |
|---|---|
| Severance (no Cause, pre‑Sale of Business) | 2x base salary + 1x target annual bonus; plus prorated target bonus; paid over 24 months . |
| Severance (within 12 months post‑Sale of Business: no Cause or Good Reason) | 3x base salary + 1x target annual bonus; plus prorated target bonus; paid over 36 months . |
| COBRA premium assistance | 18 months for terminations without Cause . |
| Restrictive covenants | Non‑compete and non‑solicit during employment and 1 year post‑termination . |
| Equity change‑in‑control | Plan generally provides single‑trigger vesting upon CIC; however, “all future awards” to Huckins (as of Oct 2024 CNG decision) require double‑trigger CIC vesting (i.e., also need qualifying termination) . |
| Clawback policy | Amended and Restated Compensation Recoupment Policy effective Oct 2, 2023 (Nasdaq‑compliant; 3‑year lookback for restatements) . |
Board Service & Governance
- Board service: Class III Director since Jan 2025; no committee assignments .
- Board leadership: Independent Chairman (Rolf Stangl); CEO and Chair roles separated .
- Controlled company: REYN relies on Nasdaq “controlled company” exemptions; PFL currently has the right to nominate all directors .
- Board/committee activity: Board held 7 meetings in 2024; all directors then serving met ≥75% attendance; independent executive sessions occur regularly .
- Director pay: Company employees (including Huckins) receive no director compensation .
Dual‑role implications
- Huckins is a management (non‑independent) director, which is typical for CEOs; independence concerns are mitigated by an independent Chairman and independent Audit Committee, but broader board independence is affected by controlled‑company status and PFL nomination rights .
Compensation Program Design Details
Compensation peer group (benchmarking reference for 2024 decisions)
- 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 .
Pay practices and guardrails
- Strong support: ~99% Say‑on‑Pay approval in 2024; independent consultant (Pearl Meyer) advises CNG .
- No excise tax gross‑ups; no option repricing; limited perquisites; anti‑hedging/pledging; stock ownership guidelines for executives .
Performance & Track Record
| Measure | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Net Income ($m) | 324 | 258 | 298 | 352 |
| Adjusted EBIT ($m) | 492 | 429 | 512 | 549 |
| Company TSR (value of $100 since IPO) | 116 | 114 | 105 | 109 |
- 2024 AIP paid at 121% of target, reflecting stronger Adjusted EBIT growth vs modest revenue performance; 2024 PSUs earned at 188% of target on Adjusted EPS and FCF over‑delivery .
Director Compensation (for context; Huckins not eligible)
- Non‑affiliated director program in 2024: $100k cash retainer + $145k RSUs; Audit Chair +$20k cash; committee members +$10k; Chairman increment +$115k ($50k cash/$65k RSUs); increases to RSU grants and Chair cash retainer effective April 1, 2025 .
- Director ownership guidelines: 5x cash retainer; retention rules until met; deferral available on RSUs .
Equity Ownership & Related Party Context (Governance)
- Largest holder: Packaging Finance Limited (PFL) at 73.9% of common stock; has nomination/remove rights per Stockholders Agreement .
- Related‑party transactions exist with Pactiv/Rank (e.g., supply, warehousing, leases) at negotiated terms; overseen by Audit Committee per policy .
Investment Implications
- Alignment and incentives: Huckins’ pay mix is heavily at‑risk (2024 stock awards $1.28m; cash incentive $0.61m vs $0.68m base), with clear linkage to Adjusted EBIT, Adjusted EPS, Revenue, and FCF; 2024 over‑performance (AIP 121%, PSUs 188%) indicates the plan rewarded tangible profit and cash generation improvements .
- Retention risk: CEO severance provides 2x/3x cash protection with prorated bonus and 18 months healthcare; future equity awards carry double‑trigger CIC vesting—supportive of retention without automatic CIC windfalls .
- Selling pressure: Significant scheduled RSU/PSU vestings in late 2025/2026/2027, but mandatory share‑retention rules and anti‑hedge/pledge policy dampen near‑term selling pressure signals .
- Governance considerations: Controlled‑company status and PFL nomination rights reduce board independence breadth; however, independent chair and fully independent Audit Committee are positives. Say‑on‑Pay support (~99%) suggests broad investor acceptance of pay design and outcomes to date .
Monitoring triggers: upcoming vest dates (12/1/2025; 2/1/2026), any Form 8‑K 5.02 changes to CEO employment terms, and future PSU metric calibration for 2025–2027 cycles to assess whether targets remain rigorous vs improving margin/cash trends .