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...

Number of Employees

23K

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.

SEC Filing

From March 15, 2024

Robert C. Tiede

CEO of Sonoco Products

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Education

Not specified

Field of Expertise

Business & Management

Born

January 1, 1958 - 67 years ago

Is Founder?

No

Current Tenure

6 years 9 months (Apr 2018 - Present)

Previous Experience

Executive Vice President and Chief Operating Officer of Sonoco Products Company