Company: CHD
Filing Date: 2025-03-14
Form Type: 8-K
Source: 0001193125-25-054846
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Company: CHURCH & DWIGHT CO INC /DE/
Filing Date: 2025-03-14
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

On March 14, 2025, Church & Dwight Co., Inc. (the “ Company”) announced that Lee McChesney will be elected as Executive Vice President and Chief Financial Officer of the Company, effective on March 24, 2025. As previously announced, Richard Dierker, the Company’s current Executive Vice President, Chief Financial Officer and Head of Business Operations, will commence his role as the Company’s Chief Executive Officer on April 2, 2025, succeeding Matthew T. Farrell upon Mr. Farrell’s retirement, and Mr. McChesney will succeed Mr. Dierker as CFO. Upon Mr. McChesney’s appointment as CFO on March 24, 2025, Mr. Dierker will continue as Executive Vice President and Head of Business Operations until he starts as the Company’s CEO.

The Company entered into a letter agreement with Mr. McChesney (the “ Employment Letter”), dated February 24, 2025, pursuant to which Mr. McChesney will receive a base salary of $700,000, 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. Mr. McChesney will also receive a one-timegrant of long-term incentive awards with an aggregate value of $2,200,000 under the Company’s 2022 Omnibus Equity Compensation Plan (the “ Omnibus Plan”), which shall be awarded in the form of time-based restricted stock units with a two-yearratable vesting schedule (as defined in the Omnibus Plan). Mr. McChesney is also eligible to receive three one-time cash sign-on bonuses of $75,000, $417,222 and $125,000, in each case, subject to the terms of the Employment Letter and his continued employment with the Company through the payment date and repayment if his employment with the Company terminates within one year of his start date. During his employment, Mr. McChesney will be entitled to participate in all benefit programs and plans generally made available to other executives of the Company.

Before joining the Company, Mr. McChesney, 53, served as Senior Vice President and Chief Financial Officer of MSA Safety Inc. (NYSE: MSA) since August of 2022