CF Industries Holdings Management

Management criteria checks 3/4

CF Industries Holdings' CEO is Tony Will, appointed in Jan 2014, has a tenure of 10.25 years. total yearly compensation is $12.90M, comprised of 10.5% salary and 89.5% bonuses, including company stock and options. directly owns 0.28% of the company’s shares, worth $42.79M. The average tenure of the management team and the board of directors is 5.9 years and 6.8 years respectively.

Key information

Tony Will

Chief executive officer

US$12.9m

Total compensation

CEO salary percentage	10.5%
CEO tenure	10.3yrs
CEO ownership	0.3%
Management average tenure	5.9yrs
Board average tenure	6.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tony Will's remuneration changed compared to CF Industries Holdings's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$13m	US$1m	US$2b
Sep 30 2023	n/a	n/a	US$2b
Jun 30 2023	n/a	n/a	US$2b
Mar 31 2023	n/a	n/a	US$3b
Dec 31 2022	US$14m	US$1m	US$3b
Sep 30 2022	n/a	n/a	US$3b
Jun 30 2022	n/a	n/a	US$3b
Mar 31 2022	n/a	n/a	US$2b
Dec 31 2021	US$12m	US$1m	US$917m
Sep 30 2021	n/a	n/a	US$299m
Jun 30 2021	n/a	n/a	US$456m
Mar 31 2021	n/a	n/a	US$400m
Dec 31 2020	US$10m	US$1m	US$317m
Sep 30 2020	n/a	n/a	US$285m
Jun 30 2020	n/a	n/a	US$378m
Mar 31 2020	n/a	n/a	US$471m
Dec 31 2019	US$9m	US$1m	US$493m
Sep 30 2019	n/a	n/a	US$487m
Jun 30 2019	n/a	n/a	US$452m
Mar 31 2019	n/a	n/a	US$317m
Dec 31 2018	US$8m	US$1m	US$290m
Sep 30 2018	n/a	n/a	US$706m
Jun 30 2018	n/a	n/a	US$589m
Mar 31 2018	n/a	n/a	US$444m
Dec 31 2017	US$9m	US$1m	US$358m

Compensation vs Market: Tony's total compensation ($USD12.90M) is above average for companies of similar size in the UK market ($USD5.62M).

Compensation vs Earnings: Tony's compensation has been consistent with company performance over the past year.

CEO

Tony Will (57 yo)

10.3yrs

Tenure

US$12,899,559

Compensation

Mr. W. Anthony Will, also known as Tony, has been the Chief Executive Officer and President of CF Industries Holdings, Inc. since January 2, 2014. Mr. Will has been the Chief Executive Officer and Presiden...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
W. Will	President	10.3yrs	US$12.90m	0.28% $ 42.8m
Christopher Bohn	Executive VP	4.6yrs	US$3.72m	0.079% $ 11.9m
Susan Menzel	Executive VP & Chief Administrative Officer	less than a year	US$2.98m	0.036% $ 5.5m
Bert Frost	Executive Vice President of Sales	7.9yrs	US$3.63m	0.024% $ 3.6m
Julie Freigang	VP & Chief Information Officer	3.5yrs	no data	no data
Martin Jarosick	Vice President of Investor Relations	7.3yrs	no data	no data
Michael McGrane	VP, General Counsel & Secretary	8.3yrs	no data	0.0092% $ 1.4m
Linda Dempsey	Vice President of Public Affairs	4.1yrs	no data	0.0075% $ 1.1m
Ashraf Malik	Senior Vice President of Manufacturing & Distribution	4.6yrs	no data	0.019% $ 2.9m
Richard Hoker	VP & Corporate Controller	16.4yrs	US$1.17m	0.029% $ 4.4m
David Bilby	Director of Market Research	no data	no data	no data
Mark Campbell	Vice President of Supply Chain	no data	no data	no data

5.9yrs

Average Tenure

57yo

Average Age

Experienced Management: 0HQU's management team is seasoned and experienced (5.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
W. Will	President	10.3yrs	US$12.90m	0.28% $ 42.8m
Christopher Bohn	Executive VP	less than a year	US$3.72m	0.079% $ 11.9m
John Eaves	Independent Director	6.8yrs	US$276.89k	0.013% $ 1.9m
Robert Arzbaecher	Independent Director	18.7yrs	US$275.27k	0.042% $ 6.2m
Stephen Hagge	Independent Chairman & Lead Independent Director	13.8yrs	US$457.80k	0.030% $ 4.5m
Deborah DeHaas	Independent Director	2.9yrs	US$275.76k	0.0047% $ 701.3k
Michael Toelle	Independent Director	6.8yrs	US$275.76k	0.013% $ 1.9m
Theresa Wagler	Independent Director	9.5yrs	US$280.27k	0.018% $ 2.6m
Anne Noonan	Independent Director	8.8yrs	US$293.26k	0.016% $ 2.4m
Javed Ahmed	Independent Director	5.3yrs	US$275.76k	0.010% $ 1.6m
Celso White	Independent Director	5.5yrs	US$275.76k	0.011% $ 1.6m
Jesus Yris	Independent Director	2.8yrs	US$257.84k	0.0048% $ 720.9k

6.8yrs

Average Tenure

60.5yo

Average Age

Experienced Board: 0HQU's board of directors are considered experienced (6.8 years average tenure).

CF Industries Holdings Management

Management criteria checks 3/4

Key information

Recent management updates

VP & Corporate Controller recently sold US$928k worth of stock

CF Industries Holdings, Inc., Annual General Meeting, Apr 18, 2024

CF Industries Holdings, Inc. Appoints Christopher D. Bohn as Executive Vice President, Chief Operating Officer and Member of Board of Directors

Insider recently sold US$780k worth of stock

CF Industries Holdings, Inc. Announces Executive Changes

Senior VP recently sold US$1.0m worth of stock

Recent updates

Fourth quarter dividend of US$0.50 announced

CF Industries Holdings, Inc. Declares Quarterly Dividend, Payable on May 31, 2024

VP & Corporate Controller recently sold US$928k worth of stock

CF Industries Holdings, Inc., Annual General Meeting, Apr 18, 2024

Full year 2023 earnings released: EPS: US$7.89 (vs US$16.46 in FY 2022)

Full year 2023 earnings released: EPS: US$7.89 (vs US$16.46 in FY 2022)

Upcoming dividend of US$0.50 per share at 2.6% yield

CF Industries Holdings, Inc. Appoints Christopher D. Bohn as Executive Vice President, Chief Operating Officer and Member of Board of Directors

Third quarter dividend increased to US$0.50

CF Industries Holdings, Inc. Declares Quarterly Dividend, Payable on February 29, 2024

CF Industries Holdings, Inc. to Report Q1, 2024 Results on May 01, 2024

CF Industries Holdings, Inc. (NYSE:CF) completed the acquisition of Ammonia Production Facility and Business in Waggaman, Louisiana of from Incitec Pivot Limited (ASX:IPL).

Upcoming dividend of US$0.40 per share at 2.0% yield

Third quarter 2023 earnings released: EPS: US$0.85 (vs US$2.19 in 3Q 2022)

Now 21% undervalued

CF Industries Holdings, Inc. Declares on Its Common Stock, Payable on November 30, 2023

Insider recently sold US$780k worth of stock

Upcoming dividend of US$0.40 per share at 2.0% yield

Second quarter 2023 earnings released: EPS: US$2.71 (vs US$5.60 in 2Q 2022)

CF Industries Holdings, Inc. Announces Executive Changes

CF Industries Holdings, Inc.(NYSE:CF) dropped from Russell 1000 Growth Index

Now 21% undervalued after recent price drop

Senior VP recently sold US$1.0m worth of stock

Now 20% undervalued after recent price drop

CF Industries Holdings, Inc. Declares Quarterly Dividend, Payable on May 31, 2023

First quarter 2023 earnings released: EPS: US$2.85 (vs US$4.23 in 1Q 2022)

Investor sentiment deteriorates as stock falls 15%

Now 20% undervalued after recent price drop

Now 20% undervalued after recent price drop

Full year 2022 earnings released: EPS: US$16.46 (vs US$4.27 in FY 2021)

CF Industries Holdings, Inc. Provides Gross Ammonia Production Guidance Full Year 2023

Upcoming dividend of US$0.40 per share at 1.9% yield

CF Industries Holdings, Inc. to Report Q4, 2022 Results on Feb 15, 2023

Now 22% undervalued after recent price drop

Upcoming dividend of US$0.40 per share

Third quarter 2022 earnings released: EPS: US$2.19 (vs US$0.86 loss in 3Q 2021)

CF Industries Holdings, Inc. (NYSE:CF) announces an Equity Buyback for $3,000 million worth of its shares.

Now 22% undervalued

CF Industries Holdings, Inc. Declares Quarterly Dividend, Payable on November 30, 2022

President recently sold US$11m worth of stock

Upcoming dividend of US$0.40 per share

Second quarter 2022 earnings released: EPS: US$5.60 (vs US$1.14 in 2Q 2021)

CF Industries Holdings, Inc. Declares Dividend, Payable on August 31, 2022

VP & Corporate Controller recently sold US$634k worth of stock

Now 23% undervalued

Upcoming dividend of US$0.40 per share

CF Industries Holdings, Inc. Provides Gross Ammonia Production Guidance for 2022

CF Industries Holdings, Inc. Declares Quarterly Dividend, Payable on May 31, 2022

CF Industries Holdings, Inc., Annual General Meeting, May 11, 2022

Investor sentiment improved over the past week

UPL Reportedly in Merger Talks with 2 American Co.'s

Investor sentiment improved over the past week

Senior VP recently sold US$3.5m worth of stock

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

CF Industries Holdings, Inc. Reports Goodwill Impairment for the Fourth Quarter Ended December 31, 2021

Now 22% undervalued

CF Industries Holdings, Inc. Declares Quarterly Dividend, Payable on February 28, 2022

CF Industries Holdings, Inc. Commences Restart of Ammonia Plant at Billingham, UK, Complex

CF Industries Holdings, Inc. Commences Restart of Production At Donaldsonville Complex

Second quarter 2021 earnings released: EPS US$1.14 (vs US$0.89 in 2Q 2020)

Upcoming dividend of US$0.30 per share

Independent Director has left the company

First quarter 2021 earnings released: EPS US$0.70 (vs US$0.32 in 1Q 2020)

Upcoming dividend of US$0.30 per share

Managing Director of CF Fertilisers UK has left the company

CF Industries Holdings, Inc. Declares Quarterly Dividend, Payable on May 28, 2021

Independent Director recently sold US$500k worth of stock

New 90-day high: US$49.29

Full year 2020 earnings released: EPS US$1.48 (vs US$2.24 in FY 2019)