Church & Dwight Co., Inc. (CHD, Financial) has announced the election of Lee McChesney as the company's new Executive Vice President and Chief Financial Officer, effective March 24, 2025. This strategic appointment follows the company's succession plan, as Richard Dierker, the current CFO, prepares to transition to the role of Chief Executive Officer on April 2, 2025, succeeding Matthew T. Farrell upon his retirement.
Mr. McChesney brings a wealth of experience to Church & Dwight, having previously served as Senior Vice President and Chief Financial Officer at MSA Safety Inc. (NYSE: MSA). His extensive background in global financial operations, including treasury, financial planning and analysis, and investor relations, positions him well to lead Church & Dwight's financial strategy.
Under the terms of his employment, Mr. McChesney will receive a base salary of $700,000, with a target annual bonus of 85% of his base salary and a target annual long-term incentive award opportunity of 245% of his base salary. Additionally, he will be granted long-term incentive awards valued at $2,200,000, in the form of time-based restricted stock units with a two-year vesting schedule. He is also eligible for three one-time cash sign-on bonuses, contingent upon continued employment.
Mr. McChesney's career includes significant leadership roles at Stanley Black & Decker, where he served in various capacities, including Vice President of Corporate Finance and CFO of the Global Tools and Storage operating unit. His academic credentials include a BS in finance from the University of Connecticut and an MBA from the University of Massachusetts.
This leadership transition marks a significant step for Church & Dwight as it continues to strengthen its executive team and drive future growth. Investors and stakeholders will be keenly observing how Mr. McChesney's financial acumen will contribute to the company's strategic objectives.
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