Richard B. Cohen is the current CEO and Chairman of Symbotic Inc., a key player in automation and supply chain solutions. He took on the role of CEO on November 19, 2022, after serving as Chairman since 2006 and previously...

Richard B. Cohen is the current CEO and Chairman of Symbotic Inc., a key player in automation and supply chain solutions. He took on the role of CEO on November 19, 2022, after serving as Chairman since 2006 and previously leading the company’s earlier incarnation as Symbotic LLC. Cohen has a strong foundation in the grocery industry, having also been the Executive Chairman of C&S Wholesale Grocers, one of the largest grocery wholesalers in the U.S., for decades. This is not just a job for him; he grew up working in the family business during summer breaks and eventually took over leadership, guiding it into a key player in its field. In 2023 and 2022, it’s interesting to note that Cohen didn’t receive any compensation as CEO – a rare circumstance often tied to performance metrics that might not have been met. His educational background includes a degree in accounting from the prestigious Wharton School of Business, giving him a solid base for his roles in business. Cohen balances his executive responsibilities while managing his long history in grocery distribution, bringing practical experience to Symbotic's vision and future strategies.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Symbotic Inc. CEOs

S

Richard B. Cohen

Ex-CEO of Symbotic Inc.

Sector of Economy

Financial Services

CEO of Symbotic Inc. for

0 years 10 months (Nov 2022 - Oct 2023)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Richard B. Cohen

W

C. Douglas McMillon

CEO of Walmart

2023 Compensation

Stock

$0.00

Salary

$1.47M

Bonus

$0.00

Other

$199.58K

Total Holdings

$433.19M

Holdings

See how much did Richard B. Cohen make over time.

Richard Cohen currently holds no significant stock awards or compensation linked to Symbotic Inc. For the past two years, his total compensation has been reported as $0 due to performance targets not being met. This indicates that while Cohen is...

Richard Cohen currently holds no significant stock awards or compensation linked to Symbotic Inc. For the past two years, his total compensation has been reported as $0 due to performance targets not being met. This indicates that while Cohen is deeply involved with the company's strategic direction as CEO, his wealth tied to stock performance hasn’t fluctuated or increased through these awards. Instead, he really has a vested interest in improving the company's financial performance, given that his earnings are directly connected to how the company performs. His leadership has been noted during challenging market times, where importance is placed on aligning executive compensation with company success. Understanding this allows investors and stakeholders to appreciate a CEO who has skin in the game, but perhaps more importantly, emphasizes a culture of accountability.

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Total Stock Sold

$885.19M

SYM

$885.19M

22,825,312 SYM shares

What if they kept their stock?

If Richard B. Cohen didn't sell their stock, today they would have:
Extra SYM22,825,312 shares worth $458.10M.
This is -48.25% and $427.09M less than what they got when they sold the stock.

Charitable Transactions

SYM

1,000,000 shares

SYM

Recent Charitable Transactions

SYM

1,000,000 shares

SYM

Dec 13, 2023

Charity

Insider Trading

See recent insider trades of Richard B. Cohen.

SYM

$194.70M

SYM at $38.94/share

Feb 26, 2024

Sale

SYM

1,000,000 shares

SYM

Dec 13, 2023

Charity

SYM

$500.00M

SYM at $28.05/share

Jul 24, 2023

Sale

SYM

5,452,237 shares

SYM

Aug 2, 2022

Received

SYM

10,904,476 shares

SYM

Jul 19, 2022

Received

SYM

415,278,611 shares

SYM

Jun 7, 2022

Received

Compensation History

See how much did Richard B. Cohen make over time.

Remarkably, Richard B. Cohen did not receive any compensation for his role as CEO of Symbotic in 2023 or 2022, reflecting a unique situation in executive compensation where performance metrics weren’t achieved. His philosophy at Symbotic aims to retain talent while aligning compensation with results. Despite his significant responsibilities, he chose not to take a salary or bonuses during these years, a decision usually driven by performance assessment criteria set by the compensation committee. This sort of compensation structure can help showcase a clear link between executive pay and company performance, which can be refreshing in the corporate world. It signals a commitment to responsibility and accountability, where the focus remains on the long-term vision for Symbotic rather than immediate financial gain for its leadership. This move also puts additional pressure on Cohen to deliver results since his direct compensation ties into his leadership success.

Year

2023

Total Compensation

$0.00

Salary

$0.00

Board Justification

Symbotic's compensation program aims to attract, motivate, and retain outstanding individuals while aligning compensation with company performance and peer benchmarking.

Bonus

$0.00

Board Justification

No annual cash bonuses were paid to Mr. Cohen for fiscal year 2023 due to performance results not meeting the targets set by the compensation committee.

Other

$0.00

Board Justification

Mr. Cohen did not receive any other compensation in fiscal year 2023.

Restricted Stock

$0.00(0 RSU)

Board Justification

Mr. Cohen did not receive any stock awards in fiscal year 2023.

Performance Metrics

The performance metrics for the CEO's compensation in fiscal year 2023 were based on revenue and adjusted EBITDA targets.

Other Symbotic Inc. CEOs

Here are other CEOs of Symbotic Inc.

Michael J. Loparco

Ex-CEO of Symbotic Inc.

June 2022 - November 2022

Thomas Ernst

Ex-CEO of Symbotic Inc.

October 2023 - December 2023