8-K
filed October 30, 2024, 7:59 PM ET
ticker REYN
CIK 0001786431
leadership
confidence high
sentiment neutral
materiality 0.80
Reynolds Consumer Q3 net income up 10% to $86M; CEO Lance Mitchell to step down Jan 1, 2025
Reynolds Consumer Products Inc.
- Q3 net revenues $910M (down 3% YoY); net income $86M (+10%); adj. EBITDA $171M (+4%); EPS $0.41 vs $0.37.
- CEO Lance Mitchell to step down Jan 1, 2025; will remain advisor through July 31, 2025.
- Scott Huckins (current CFO) named President & CEO effective Jan 1, 2025; Nathan Lowe named CFO.
- Net debt leverage improved to 2.3x (from 2.7x); $50M debt prepaid after quarter end.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Scott E. Huckins was appointed as President and Chief Executive Officer at Reynolds Consumer Products Inc..
- Action
- appointed
- Role
- President and Chief Executive Officer
Exact text from the filing
the Board appointed Scott E. Huckins as the Company's President and Chief Executive Officer, and elected Mr. Huckins a member of the Board of Directors to fill the vacancy resulting from Mr. Mitchell's departure from the Board, all effective as of January 1, 2025.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Scott E. Huckins was elected as Member of the Board of Directors at Reynolds Consumer Products Inc..
- Action
- elected
- Role
- Member of the Board of Directors
Exact text from the filing
the Board appointed Scott E. Huckins as the Company's President and Chief Executive Officer, and elected Mr. Huckins a member of the Board of Directors to fill the vacancy resulting from Mr. Mitchell's departure from the Board, all effective as of January 1, 2025.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Nathan D. Lowe was appointed as Vice President, Chief Financial Officer and Treasurer at Reynolds Consumer Products Inc..
- Action
- appointed
- Role
- Vice President, Chief Financial Officer and Treasurer
Exact text from the filing
the Board appointed Nathan D. Lowe as Vice President, Chief Financial Officer and Treasurer, to fill the vacancy resulting from the appointment of Mr. Huckins as President and Chief Executive Officer, effective as of January 1, 2025.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Lance Mitchell departed as Member of the Board of Directors at Reynolds Consumer Products Inc..
- Action
- stepped down
- Role
- Member of the Board of Directors
Exact text from the filing
On October 24, 2024, Lance Mitchell notified the Company that he plans to step down as President and Chief Executive Officer of the Company and as a member of the Company's Board, all effective as of January 1, 2025.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Lance Mitchell departed as President and Chief Executive Officer at Reynolds Consumer Products Inc..
- Action
- stepped down
- Role
- President and Chief Executive Officer
Exact text from the filing
On October 24, 2024, Lance Mitchell notified the Company that he plans to step down as President and Chief Executive Officer of the Company and as a member of the Company's Board, all effective as of January 1, 2025.
View on SEC.gov
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