Company: PRMB
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009675
Chunk: 40

Company: Primo Brands Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 40
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 our company and its stockholders at this time because it allows Mr. Rietbroek to focus on the day-to-day operation of our business and allows Mr. Metropoulos to focus on Board-related matters. Moreover, the Stockholders Agreement provides that Mr. Metropoulos will serve as Non-Executive Chair for a period of two years from the Closing, unless he is unable or unwell to serve. Our Board is comprised of individuals with extensive experience in finance, the food and beverage industry and public company management. For these reasons and because of the strong leadership of both Mr. Metropoulos as Non-Executive Chair and Mr. Rietbroek as Chief Executive Officer, our Board has concluded that our current leadership structure is appropriate at this time. However, our Board will continue to consider whether the positions of Chairman and Chief Executive Officer should be separated or combined at any given time, subject to the Stockholders Agreement. Our Corporate Governance Guidelines provide that, subject to the Certificate of Incorporation and the Stockholders Agreement, if the Chairman is a member of management or does not otherwise qualify as independent, 25

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there should be a “lead independent director” appointed by the Board from its independent members. If a lead independent director is appointed by the Board and the role of Chairman is filled by a director who is also independent, the lead independent director shall act in a supportive capacity to the Chairman and shall act as Chairman in the event the Chairman is unavailable. In addition, the Stockholders Agreement provides that during the 24-month period following the Closing, if the initial lead independent director ceases to serve as a director for any reason (including removal), the directors who are not a Sponsor Designee or the Mutually Agreed Director (as defined in the Stockholders Agreement) (the “ Unaffiliated Directors”) shall have the right to determine a replacement lead independent director meeting all applicable SEC and stock exchange independence tests, subject to the approval of the ORCP Stockholders so long as the ORCP Stockholders are entitled to appoint at least two directors (such approval not to be unreasonably withheld, conditioned or delayed). Following such 24-month period following the Closing, if the initial lead independent director ceases to serve as a director for any reason (including removal), the Board shall have the right to determine a replacement lead independent director meeting the criteria set forth above. Consistent with the Corporate Governance Guidelines and the Stockholders Agreement, the Board has appointed Ms. Fowden to serve as our lead independent