Sealed Air CEO Compensation Tripled in 2018

4/5/19

By Rachel Lipman, NCBIZ News

The CEO of Charlotte-based Sealed Air Corp. made over $8.9 million in 2018, more than triple the $2.9 million he made in 2017.

According to a filing with the Securities and Exchange Commission, Ted Doheny saw increases in all factors of his total compensation — salary, stock awards and all other compensation.

His base salary rose to $1.15 million in 2018 after totaling $335,417 during the part of 2017 that he worked for the company. He received $7.72 million in stock awards in 2018, up from $2 million in 2017.

He did not receive any nonequity incentive plan compensation in 2018 after receiving $502,180 in 2017.

Doheny, president and CEO, joined Sealed Air as chief operating officer and CEO-designate in September 2017 and was elected a director of Sealed Air. He became president and CEO effective Jan. 1, 2018.

Prior to joining Sealed Air, Doheny served as president, CEO and a director of Joy Global Inc. from December 2013 through May 2017.

Sealed Air is a packaging company known for its brands: Cryovac food packaging and Bubble Wrap cushioning packaging. It aims to “contribute to global solutions to continuously reduce the impact of our operations,” according to the company’s website.

Sealed Air stock closed at $45.96 Thursday, up 0.4 percent from Wednesday’s close.