Andres Lopez has been the CEO of O-I Glass, Inc. since 2016, bringing with him decades of experience in the glass container industry. His journey with O-I began way back in 1986, starting in Colombia. Over the years, he climbed...

Andres Lopez has been the CEO of O-I Glass, Inc. since 2016, bringing with him decades of experience in the glass container industry. His journey with O-I began way back in 1986, starting in Colombia. Over the years, he climbed the ranks to hold significant leadership roles across North America and South America, finally taking on the top position. Interesting to note, during his tenure in 2021, he received a total compensation of nearly $10.8 million, mostly driven by performance-based stock awards. In 2023, he saw a dip in his overall pay to about $11.8 million, highlighting how executive compensation can fluctuate based on company performance and benchmarks. Lopez recently announced his retirement, effective May 2024, and there hasn't been any drama around his departure, which suggests a smooth transition is in the cards for O-I Glass. His legacy is tied to O-I’s global operations and pushing for innovation in glass manufacturing.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

O

Andres Lopez

Ex-CEO of O-I Glass

Education

Not specified

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Consumer Cyclical

Born

January 1, 1962 - 63 years ago

CEO of O-I Glass for

8 years 4 months (Jan 2016 - May 2024)

Previous Experience

Joined O-I in 1986 in Colombia, held several leadership positions including country General Manager in Peru, Vice President of Manufacturing for O-I North America, and Global Vice President of Manufacturing and Engineering.

Rivals

Competitors/colleagues of Andres Lopez

D

John C. May

CEO of Deere & Company

2023 Compensation

Stock

$12.45M

Salary

$1.59M

Bonus

$5.91M

Other

$602.96K

Total Holdings

$86.07M

Holdings

See how much did Andres Lopez make over time.

Andres Lopez has strategically managed his holdings in O-I Glass over his years as CEO. In 2023, he reported a wealth level that included 125,606 shares from previous annual grants, with a vested stock value of approximately $2.06 million. This...

Andres Lopez has strategically managed his holdings in O-I Glass over his years as CEO. In 2023, he reported a wealth level that included 125,606 shares from previous annual grants, with a vested stock value of approximately $2.06 million. This shows a significant investment in the company, echoing his commitment to O-I's success. Throughout his time, there were notable fluctuations in his stock grants and vesting value; for instance, in 2021, he marked a total of 172,458 shares with valuation hitting over $2.05 million. The ups and downs of his holdings link closely to the company's changing fortunes, representing both risks and connections to O-I's performance and direction.

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Total Stock Sold

$5.57M

OI

$4.51M

184,006 OI shares

AVY

$1.06M

5,800 AVY shares

What if they kept their stock?

If Andres Lopez didn't sell their stock, today they would have:
Extra OI184,006 shares worth $1.72M and AVY5,800 shares worth $685.44K.
This is -56.87% and $3.17M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Andres Lopez.

OI

566,953 shares

OI

Mar 7, 2024

Received

OI

$3.01M

OI at $22.28/share

Jun 6, 2023

Sale

OI

125,606 shares

OI

Mar 7, 2023

Received

AVY

$1.06M

AVY at $182.00/share

Mar 3, 2023

Sale

OI

231,379 shares

OI

Mar 7, 2022

Received

OI

212,342 shares

OI

Mar 7, 2021

Received

OI

365,863 shares

OI

Mar 7, 2020

Received

OI

372,448 shares

OI

Mar 7, 2019

Received

OI

152,270 shares

OI

Mar 7, 2018

Received

OI

127,430 shares

OI

Mar 7, 2017

Received

Compensation History

See how much did Andres Lopez make over time.

Andres Lopez's compensation as CEO of O-I Glass reflects a complex structure aligned closely with performance metrics. In 2023 alone, his total compensation hit around $11.8 million, which included a $1.13 million salary, a significant portion of vesting stock worth around $2.06 million, and about $475,000 in other benefits. The lack of bonuses in recent years, for both 2022 and 2023, points to the company's performance not fully meeting set benchmarks. For instance, the year before, his pay peaked at $12.2 million, largely driven by a strong performance in 2021 where he hit a 165% target bonus. This variance underscores how executive pay is not just about the base salary but is heavily tied to the company's success and executive performance evaluations.

Year

2023

Total Compensation

$3.67M

Salary

$1.13M

Board Justification

The compensation philosophy aims to align executive pay with company performance, peer benchmarking, and retention strategies, with a significant portion of compensation being performance-based.

Bonus

$0.00

Board Justification

No bonus was awarded for 2023.

Other

$475.49K

Board Justification

Other compensation includes life insurance premiums, personal use of company aircraft, and other benefits.

Restricted Stock

$2.06M(125.61K RSUs)

Board Justification

125,606 shares of RSUs vested in 2023, which were granted in prior years and are subject to time-based vesting.

Performance Metrics

The performance metrics for 2023 included EBIT and Free Cash Flow (FCF) for short-term incentives, and EPS and ROIC for long-term incentives.