Avery Dennison Corporation · NYSE:AVY
Avery Dennison — Shareholder Meeting (April 2022)
18 slides from Avery Dennison's shareholder meeting presentation, Apr 8, 2022
Slide 1: 2022 Proxy Season Stockholder Engagement
2022 Proxy Season Stockholder Engagement Spring 2022
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements contained in this document are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements, and financial or other business targets,
Slide 3: Avery Dennison at a Glance
Global scale; nearly 200 operating locations Innovative materials science capabilities; vertically integrated in adhesives Innovative process technology Operational and commercial excellence Industry-leading innovations enabling functionality and sustainability Label and Graphic Materials (LGM) 2021
Slide 4: 2025 Goals and 2021 Results
2025 Goals 2021 Results 3% absolute GHG reduction every year (26% cumulative by 2025)(1) 48% cumulative(2) 100% certified paper 70% Forest Stewardship Council (FSC)-certified face paper 91% certified 81% FSC (face paper) 95% landfill-free 75% waste recycled 94% landfill-free 67% recycled(2) 70% of f
Slide 5: Director Nominee Demographics
Director Nominee Demographics Lead Independent Director; primary responsibilities: Preside over executive sessions of independent directors and Board meetings where Chairman/CEO is not present Serve as liaison between Chairman/CEO and independent directors Approve Board meeting agendas and schedules
Slide 6: Matrix of Director Nominee Skills and Qualifications (1 of 2)
(1) Information as of March 2022. Governance Guidelines criteria defined on page 14 of 2022 Proxy Statement. (2) Departing Director Mark Barrenechea had this expertise, which is among the skills the Governance Committee and our Board will seek in new directors. GOVERNANCE GUIDELINES CRITERIA(1) Inde
Slide 7: Matrix of Director Nominee Demographic Backgrounds (2 of 2)
* Information as of March 2022. DEMOGRAPHIC BACKGROUND Tenure (years)* 12 9 5 14 5 16 19 9 Age* 65 66 50 69 59 66 66 65 Mandatory Retirement Year 2029 2028 2044 2025 2035 2028 2028 2029 Gender Female ü ü Male ü ü ü ü ü ü Non-Binary Gender Race/Ethnicity Black or African American ü Hispanic or Latino
Slide 8: CEO Pay-for-Performance 2021 Compensation Overview
Annual Long-Term 88% Performance-Based Annual fixed-cash compensation Generally around market median Drives performance consistent with our company’s financial goals for the year Financial Modifier 60% Adjusted EPS 20% Adjusted Sales Growth 20% Free Cash Flow Individual performance modifier based on
Slide 9: Commitment to Strong Corporate Governance Practices
Annual election of directors Majority voting in director elections Single class of outstanding voting stock Director nominees 88% independent Robust Lead Independent Director role Regular director succession planning and Board refreshment Robust, ongoing stockholder engagement program Continuous exe
Slide 10: Appendix A: Financial Highlights
Appendix A: Financial Highlights
Slide 11: Sustainable Value Creation Fueled by Consistent Execution of Key Strategies
Drive outsized growth in high-value categories Focus relentlessly on productivity Allocate capital effectively Grow profitability in our base businesses Sustainable Value Creation Fueled by Consistent Execution of Key Strategies Lead in an environmentally and socially responsible manner GDP+ growth
Slide 12: Disciplined Capital Allocation Driving Long-Term Stockholder Value
Disciplined Capital Allocation Driving Long-Term Stockholder Value Capital Allocation In 2017-2021, we allocated over $2 billion to acquisitions and venture investments and nearly $2 billion to dividends and share repurchases We also invested in our businesses to support organic growth and pursued c
Slide 13: Appendix B: Reconciliation of Non-GAAP Financial Measures from GAAP
Appendix B: Reconciliation of Non-GAAP Financial Measures from GAAP
Slide 14: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures as defined by SEC rules. We report our financial results in conformity with accounting principles generally accepted in the United States of America, or GAAP, and also communicate with investors using c
Slide 15: Reconciliation of Non-GAAP Financial Measures from GAAP
Reconciliation of Non-GAAP Financial Measures from GAAP
Slide 16: Reconciliation of Non-GAAP Financial Measures from GAAP
Reconciliation of Non-GAAP Financial Measures from GAAP
Slide 17: Reconciliation of Non-GAAP Financial Measures from GAAP
Reconciliation of Non-GAAP Financial Measures from GAAP
Slide 18: oration. All rights reserved. Avery Dennison and all other Avery Dennison brands, product names
© 2020 Avery Dennison Corporation. All rights reserved. Avery Dennison and all other Avery Dennison brands, product names and codes are trademarks of Avery Dennison Corporation. All other brands or product names are trademarks of their respective owners. Fortune 500® is a trademark of Time, Inc. Bra