Hexagon Composites Management

Management criteria checks 3/4

Hexagon Composites' CEO is Jon Engeset, appointed in Jan 2013, has a tenure of 10.92 years. total yearly compensation is NOK9.34M, comprised of 35.7% salary and 64.3% bonuses, including company stock and options. directly owns 0.18% of the company’s shares, worth NOK9.16M. The average tenure of the management team and the board of directors is 3.7 years and 5.4 years respectively.

Key information

Jon Engeset

Chief executive officer

NOK 9.3m

Total compensation

CEO salary percentage	35.7%
CEO tenure	10.9yrs
CEO ownership	0.2%
Management average tenure	3.7yrs
Board average tenure	5.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Jon Engeset's remuneration changed compared to Hexagon Composites's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2023	n/a	n/a	-NOK 427m
Jun 30 2023	n/a	n/a	-NOK 265m
Mar 31 2023	n/a	n/a	-NOK 318m
Dec 31 2022	NOK 9m	NOK 3m	-NOK 311m
Sep 30 2022	n/a	n/a	NOK 509k
Jun 30 2022	n/a	n/a	-NOK 40m
Mar 31 2022	n/a	n/a	-NOK 133m
Dec 31 2021	NOK 9m	NOK 3m	-NOK 237m
Sep 30 2021	n/a	n/a	-NOK 235m
Jun 30 2021	n/a	n/a	-NOK 244m
Mar 31 2021	n/a	n/a	-NOK 270m
Dec 31 2020	NOK 8m	NOK 4m	-NOK 141m
Sep 30 2020	n/a	n/a	-NOK 51m
Jun 30 2020	n/a	n/a	NOK 51m
Mar 31 2020	n/a	n/a	NOK 101m
Dec 31 2019	NOK 7m	NOK 4m	NOK 107m
Sep 30 2019	n/a	n/a	NOK 120m
Jun 30 2019	n/a	n/a	NOK 97m
Mar 31 2019	n/a	n/a	NOK 187m
Dec 31 2018	NOK 6m	NOK 4m	NOK 141m
Sep 30 2018	n/a	n/a	NOK 149m
Jun 30 2018	n/a	n/a	NOK 133m
Mar 31 2018	n/a	n/a	NOK 85m
Dec 31 2017	NOK 7m	NOK 3m	NOK 69m
Sep 30 2017	n/a	n/a	NOK 242m
Jun 30 2017	n/a	n/a	NOK 215m
Mar 31 2017	n/a	n/a	NOK 215m
Dec 31 2016	NOK 5m	NOK 3m	NOK 208m

Compensation vs Market: Jon's total compensation ($USD856.63K) is about average for companies of similar size in the UK market ($USD1.02M).

Compensation vs Earnings: Jon's compensation has increased whilst the company is unprofitable.

CEO

Jon Engeset

10.9yrs

Tenure

NOK 9,343,000

Compensation

Mr. Jon Erik Engeset has been Group President and Chief Executive Officer at Hexagon Composites ASA. Mr. Engeset served as Chief Executive Officer of Saferoad AS and served as its President. Prior to Hexag...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Jon Engeset	Group President & CEO	10.9yrs	NOK 9.34m	0.18% NOK 9.2m
David Bandele	Chief Financial Officer	9.9yrs	NOK 4.80m	0.076% NOK 4.0m
Hans Havdal	Chief Operating Officer	less than a year	NOK 311.00k	0.0019% NOK 101.8k
Karen Romer	Senior Vice President of Communications	3.6yrs	NOK 3.48m	no data
Skjalg Stavheim	President of Hexagon Ragasco	no data	NOK 4.93m	no data
Rick Rashilla	SVP of Sustainability	1.9yrs	NOK 5.00m	0.012% NOK 646.0k
Seung Baik	President of Hexagon Agility	4.9yrs	NOK 7.58m	no data
Morten Holum	CEO & President of Hexagon Purus	3.8yrs	NOK 7.11m	no data
George Siedlecki	SVP of Strategy & M&A	no data	NOK 5.76m	0.037% NOK 1.9m
Melissa Holler	President of Digital Wave	1.6yrs	NOK 5.29m	no data
Gunnar Engkrog	Head of Group Accounting	no data	no data	no data
Ingrid Aarsnes	VP of Investor Relations & ESG	no data	no data	no data

3.7yrs

Average Tenure

Experienced Management: HEXO's management team is considered experienced (3.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Knut Flakk	Chairman	23.9yrs	NOK 1.02m	10.75% NOK 561.2m
Kristine Landmark	Independent Deputy Chair	12.9yrs	NOK 465.00k	0.0050% NOK 260.4k
Sam Gabbita	Independent Director	1.9yrs	no data	no data
Liv Dingsør	Independent Director	1.9yrs	no data	no data
Liv Hovem	Independent Director	3.7yrs	NOK 352.00k	no data
Katsunori Mori	Director	7.1yrs	no data	no data

5.4yrs

Average Tenure

Experienced Board: HEXO's board of directors are considered experienced (5.4 years average tenure).

Hexagon Composites Management

Management criteria checks 3/4

Key information

Recent management updates

Hexagon Composites Announces Resignation of Jon Erik Engeset as Chief Executive Officer

Hans Peter Havdal Joins Hexagon Composites ASA as Chief Operating Officer and Resigns Post as Board Member

Less than half of directors are independent

Less than half of directors are independent

Less than half of directors are independent

President of Hexagon Ragasco recently sold kr570k worth of stock

Recent updates

Worthington Enterprises, Inc. (NYSE:WOR) completed the acquisition of Hexagon Ragasco AS from Hexagon Composites ASA (OB:HEX).

Hexagon Composites ASA (OB:HEX) acquired 49% stake in Sustainable Energy Solutions business segment of Worthington Enterprises for approximately €9.2 million.

Hexagon Composites Announces Resignation of Jon Erik Engeset as Chief Executive Officer

Hexagon Composites ASA to Report Q3, 2024 Results on Nov 07, 2024

Hexagon Launches Hexagon Agility Fleetcare, an Extended Aftermarket Offering At ACT Expo

Forecast to breakeven in 2025

Hans Peter Havdal Joins Hexagon Composites ASA as Chief Operating Officer and Resigns Post as Board Member

Less than half of directors are independent

Hexagon Composites ASA to Report Q4, 2023 Results on Feb 15, 2024

Hexagon Composites Asa Revises Full Year Guidance 2022

Second quarter 2022 earnings released: kr0.57 loss per share (vs kr0.36 loss in 2Q 2021)

Less than half of directors are independent

Hexagon Composites ASA (OB:HEX) and Hexagon Purus ASA (OB:HPUR) completed the acquisition of 40% stake in Liquid (Renewable) Natural Gas (LNG) and Liquid Hydrogen (LH2) Business from Cryoshelter Gmbh.

Less than half of directors are independent

President of Hexagon Ragasco recently sold kr570k worth of stock

Less than half of directors are independent

Hexagon Composites Maintains Earnings Guidance for the Full Yarer 2022

Hexagon Composites ASA (OB:HEX) and Hexagon Purus ASA (OB:HPUR) signed an agreement to acquire a 40% stake in Liquid (Renewable) Natural Gas (LNG) and Liquid Hydrogen (LH2) Business from Cryoshelter Gmbh for €6 million.

Hexagon Composites ASA (OB:HEX) and Hexagon Purus ASA (OB:HPUR) signed an agreement to acquire a 40% stake in Liquid (Renewable) Natural Gas (LNG) and Liquid Hydrogen (LH2) Business from Cryoshelter Gmbh for €6 million.

Full year 2021 earnings released: kr1.19 loss per share (vs kr0.74 loss in FY 2020)

Less than half of directors are independent

Chairman recently sold kr62m worth of stock

Less than half of directors are independent

Less than half of directors are independent

Second quarter 2021 earnings released: kr0.59 loss per share (vs kr0.41 loss in 2Q 2020)

Less than half of directors are independent

First quarter 2021 earnings released

Hexagon Composites ASA, Annual General Meeting, Apr 28, 2022

New 90-day low: kr47.93

Hexagon Agility Receives Additional Order from Major Global Logistics Customer for CNG Trucks

Revenue misses expectations

Hexagon Composites ASA to Report Q4, 2020 Results on Feb 17, 2021

New 90-day high: kr68.30

New 90-day high: kr65.20

New 90-day high: kr60.35

Hexagon Composites ASA to Report Q3, 2021 Results on Nov 04, 2021

Hexagon Composites ASA to Transfer CNG LDV to Its G-Mobility Business – Establishing Hexagon Purus as A Pure E-Mobility Business

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure