Robert C. Tiede has been the CEO of Sonoco Products Company since April 2, 2018. He joined the company in 2004 and has held various roles, shaping the business in different areas including flexible packaging and consumer products. Before becoming...

Robert C. Tiede has been the CEO of Sonoco Products Company since April 2, 2018. He joined the company in 2004 and has held various roles, shaping the business in different areas including flexible packaging and consumer products. Before becoming CEO, he was the Executive Vice President and COO, handling worldwide operations. Tiede started his career in private equity and climbed the ranks at companies like Graphic Packaging International. Interestingly, under his leadership, Sonoco has faced challenging performance metrics, impacting his bonuses. In 2023, his total compensation was about $8.5 million, but he didn’t get any bonuses or stock vesting due to below-target company performance. With no educational background detailed yet a wealth of experience, Tiede is focused on improving the company’s operational efficiencies. He also took a hit in compensation during his retirement transition period in 2020 to ensure a smooth leadership change. His strategic moves emphasize aligning executive rewards with company performance and long-term value creation for shareholders.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Sonoco Products CEOs

S

Robert C. Tiede

CEO of Sonoco Products

Education

Not specified

Field of Expertise

Business & Management

Sector of Economy

Consumer Cyclical

Born

January 1, 1958 - 67 years ago

CEO of Sonoco Products for

7 years 0 months (Apr 2018 - Present)

Previous Experience

Executive Vice President and Chief Operating Officer of Sonoco Products Company

Rivals

Competitors/colleagues of Robert C. Tiede

A

Matthew L. Trerotola

CEO of AptarGroup

2023 Compensation

Stock

$50.00K

Salary

$600.00K

Bonus

$150.00K

Other

$25.00K

Total Holdings

$12.58M

P

Mark W. Kowlzan

CEO of Packaging Corp of America

2015 Compensation

Stock

$4.74M

Salary

$1.06M

Bonus

$0.00

Other

$178.16K

Total Holdings

$101.13M

Holdings

See how much did Robert C. Tiede make over time.

Robert C. Tiede has a substantial holding in Sonoco products as part of his compensation package. However, his stock holdings have hovered without significant gains, reflecting struggles with performance metrics over recent years. In 2023, Tiede faced a unique situation...

Robert C. Tiede has a substantial holding in Sonoco products as part of his compensation package. However, his stock holdings have hovered without significant gains, reflecting struggles with performance metrics over recent years. In 2023, Tiede faced a unique situation where the company did not hit its targets, meaning his holdings weren’t realizing their potential value at that moment. His stake in the company peaked earlier when performance was strong, but tensions from recent financial measures have left stakeholders watching carefully. While there are fluctuations, his perspective remains tied to performing well to optimize his holdings in Sonoco. As of now, his stock holdings are closely monitored, indicating a long-term view amidst recent challenges.

Total Stock Sold

$435.35K

SON

$435.35K

10,619 SON shares

What if they kept their stock?

If Robert C. Tiede didn't sell their stock, today they would have:
Extra SON10,619 shares worth $501.00K.
This is 15.08% and $65.66K more than what they got when they sold the stock.

Insider Trading

See recent insider trades of Robert C. Tiede.

SON

$753.01K

SON at $53.13/share

Feb 22, 2019

Received

SON

$749.65K

SON at $53.14/share

Feb 23, 2018

Received

SON

$1.06M

SON at $52.70/share

Feb 17, 2017

Received

SON

$720.33K

SON at $40.87/share

Feb 19, 2016

Received

SON

$386.53K

SON at $43.70/share

Feb 20, 2015

Received

SON

$132.80K

SON at $43.70/share

Feb 20, 2015

Received

SON

$291.98K

SON at $38.52/share

Jul 31, 2013

Sale

SON

$302.80K

SON at $29.73/share

Feb 22, 2013

Received

SON

$112.92K

SON at $32.96/share

Feb 7, 2012

Received

SON

$37.34K

SON at $36.61/share

Feb 8, 2011

Received

Compensation History

See how much did Robert C. Tiede make over time.

Robert Tiede’s compensation has varied significantly as CEO of Sonoco Products Company. In 2023, his total compensation amounted to $8.5 million, which included a base salary of $1.2 million. Notably, he did not receive any annual cash bonuses or vested stock awards, as the company could not meet its financial performance metrics. This ongoing focus on linking pay to performance is a key part of Sonoco's compensation philosophy. Tiede’s approach reflects a shift towards aligning executive rewards with tangible results and helping boost long-term shareholder value. Before his tenure, he earned a significant amount each year, climbing to nearly $10 million in 2022 but drop-off shows the challenges the company faces and reinforces the idea of performance-based pay. His compensation illustrates the balance between rewarding leadership and ensuring accountability based on company results.

Year

2023

Total Compensation

$1.68M

Salary

$1.21M

Board Justification

Sonoco's compensation philosophy emphasizes pay-for-performance, aligning executive compensation with company performance and shareholder interests, while maintaining competitive compensation levels based on peer benchmarking.

Bonus

$0.00

Board Justification

No performance-based annual cash incentive was paid out for 2023 due to below-threshold performance metrics.

Other

$469.22K

Board Justification

Includes perquisites, executive life insurance premiums, and contributions to defined contribution plans.

Restricted Stock

$0.00(0 PCSUs and RSUs)

Board Justification

No stock awards vested in 2023 as the performance-based annual cash incentive was not achieved.

Performance Metrics

Performance metrics for 2023 included Base EBITDA and average net working capital cash gap days, both of which were below threshold, resulting in no annual cash incentive payout.

Other Sonoco Products CEOs

Here are other CEOs of Sonoco Products

M. Jack Sanders

Ex-CEO of Sonoco Products

January 2013 - April 2018