Avery Dennison Corporation · NYSE:AVY
Avery Dennison — Shareholder Meeting (March 2024)
19 slides from Avery Dennison's shareholder meeting presentation, Mar 29, 2024
Slide 1: Proxy Season Stockholder Engagement Spring 2024
Proxy Season Stockholder Engagement Spring 2024
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: Highlights: Our Company at a Glance
Highlights ~35K Employees 50+ Countries with operations $17.4B Market cap(1) $8.4B 2023 Net sales (1) As of March 21, 2024. Our Company at a Glance We are a global materials science and digital identification solutions company that provides a wide range of branding and information solutions that opt
Slide 4: New Leadership Following Thoughtful Succession Process
New Leadership Following Thoughtful Succession Process Effective September 2023, Deon Stander transitioned from President & COO to President & CEO, with Mitch Butier assuming the role of Executive Chairman after serving as CEO for 7+ years Deon Stander President & CEO As former President & COO, resp
Slide 5: Balanced Composition of Director Nominees
Ken Hicks Executive Chairman Academy Sports + Outdoors Maria Fernanda Mejia Retired CEO, International Newell Brands Martha Sullivan Retired President & CEO Sensata Technologies William Wagner Retired President & CEO GoTo Group Balanced Composition of Director Nominees(1) Drives Robust Independent O
Slide 6: Director Nominee Skills, Qualifications, and Demographic Backgrounds
Director Nominee Skills, Qualifications, and Demographic Backgrounds As part of its ongoing director succession planning process, the Governance Committee regularly discusses and reports to our Board on the skills, qualifications and demographic backgrounds desirable for our Board to best serve our
Slide 7: CEO Compensation Overview
In connection with Deon Stander’s election to President & CEO, the Compensation Committee re-established his compensation and approved a special promotion grant of stock options with a target grant date fair value of approximately $3 million, 50% of which will vest on each of the third and fourth an
Slide 8: Stockholder Engagement
Stockholder Engagement Our Board oversees our stockholder engagement program to maintain regular and thoughtful engagement to directly obtain investor feedback, continue to strengthen our relationships with key investors, and gather perspectives on our sustainability and governance profile to identi
Slide 9: Commitment to Strong Governance
Commitment to Strong Governance Our corporate governance program is informed by stockholder feedback and facilitates our Board's independent oversight of our company, and our executive compensation program aligns with our long-term financial goals and business strategies Stockholder Rights Market-st
Slide 10: Appendix A: Financial and Sustainability Highlights
Appendix A: Financial and Sustainability Highlights
Slide 11: Sustainable Value Creation through Execution of Key Strategies
Net Cash Provided by Operating Activities Adjusted Free Cash Flow* Reported EPS Adjusted EPS* Net Sales Sales Change Ex. Currency* Drive outsized growth in high-value categories through market-driven innovation Lead at the intersection of the physical and digital Effectively allocate capital and rel
Slide 12: Disciplined Capital Allocation Driving Long-Term Stockholder Value
Disciplined Capital Allocation Driving Long-Term Stockholder Value AVY S&P 500 Index S&P 500 Industrials Index Dow Jones U.S. Container & Packaging Index 2019 49% 31% 29% 29% 2020 21% 18% 11% 21% 2021 41% 29% 21% 11% 2022 (15)% (18)% (5)% (18)% 2023 14% 26% 18% 8% 3-Year TSR 37% 33% 35% (2)% 5-Year
Slide 13: 2025 Goals and 2023 Results
2025 Goals 2023 Results 70% of revenues from sustainability-driven products 64% Solutions Group (Apparel Solutions only) 67% Material Group (Label and Graphic Materials only) 3% absolute GHG reduction every year (26% cumulative by 2025)(1) 63% cumulative GHG emissions reduction(1) 100% certified pap
Slide 14: Appendix B: Reconciliation of Non-GAAP Financial Measures from GAAP
Appendix B: Reconciliation of Non-GAAP Financial Measures from GAAP
Slide 15: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures 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 certain non-GAAP financial measures. These non-GAAP financial measures are not in accorda
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: Reconciliation of Non-GAAP Financial Measures from GAAP
Reconciliation of Non-GAAP Financial Measures from GAAP
Slide 19: oration. All rights reserved. Avery Dennison and all other Avery Dennison brands, product names
© 2024 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