Sonoco names Ernest D. Haynes III CEO from Dec. 31
The CEO transition is set for December 31, 2026, and Haynes’s annual base salary will be $1,100,004.
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Form Type
8-K
Rhea-AI Filing Summary
Sonoco Products Company announced that R. Howard Coker will retire as director, president and chief executive officer effective December 31, 2026, and that Ernest D. Haynes III will succeed him in those roles on that date. The company’s release says Coker has been CEO since 2020 and has a 41-year career with Sonoco.
Haynes, currently president, Global Consumer Packaging, will receive an annual base salary of $1,100,004 and an annual bonus target equal to 120% of his base salary under the company’s annual cash incentive plan. He will be eligible for annual restricted stock unit and performance contingent stock unit awards with an anticipated approximate target level of $6,000,000; the first grant is expected in February 2027. He will continue participating in the Change-in-Control Plan and Executive Officer Severance Plan. The company also approved a $1,500,000 restricted stock unit retention award for Chief Financial Officer Paul Joachimczyk, which cliff vests on the second anniversary of the grant date, subject to his continued service.
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Annual base salary: $1,100,004
Annual bonus target: 120% of annual base salary
Anticipated annual equity award target: Approximately $6,000,000
+3 more
6 metrics
Annual base salary
$1,100,004
For Ernest D. Haynes III as president and chief executive officer
Annual bonus target
120% of annual base salary
Subject to the annual cash incentive plan
Anticipated annual equity award target
Approximately $6,000,000
Target level for restricted stock unit and performance contingent stock unit awards for Ernest D. Haynes III
First annual equity grant
February 2027
Expected timing for Ernest D. Haynes III’s first annual equity grant
CFO retention award
$1,500,000
Restricted stock units awarded to Paul Joachimczyk, subject to continued service
Retention award vesting
Second anniversary of the grant date
Cliff vesting, subject to Paul Joachimczyk’s continued service
Key Terms
restricted stock units, performance contingent stock units, annual cash incentive plan, Change-in-Control Plan, +2 more
6 terms
restricted stock units financial
"in the form of restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
performance contingent stock units financial
"restricted stock units and performance contingent stock units"
annual cash incentive plan financial
"subject to the terms of the Company’s annual cash incentive plan"
An annual cash incentive plan is a company program that pays yearly cash bonuses to employees or executives based on how well the business meets preset targets, such as revenue, profit, or operational goals. Think of it like a year-end performance bonus tied to measurable goals; investors watch these plans because they influence management behavior, affect cash flow and earnings, and reveal which business results the company prioritizes.
Change-in-Control Plan financial
"continue to participate in the Company’s Change-in-Control Plan"
Executive Officer Severance Plan financial
"and Executive Officer Severance Plan"
cliff vests financial
"The Retention Award cliff vests on the second anniversary"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does SON’s CEO transition take effect?
R. Howard Coker’s retirement and Ernest D. Haynes III’s appointment as president, CEO and director take effect December 31, 2026. The board appointed and elected Haynes on November 6, 2026.
What compensation will SON CEO-elect Ernest D. Haynes receive?
Haynes will receive an annual base salary of $1,100,004 and an annual bonus target equal to 120% of his annual base salary, subject to the annual cash incentive plan. He will be eligible for annual restricted stock unit and performance contingent stock unit awards with an anticipated approximate target level of $6,000,000; the first grant is expected in February 2027.
What are the terms of SON CFO Paul Joachimczyk’s retention award?
Paul Joachimczyk, Sonoco’s chief financial officer, received a $1,500,000 restricted stock unit retention award. It cliff vests on the second anniversary of the grant date, subject to his continued service with the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 6, 2026
(Exact name of registrant as specified in its charter)
(Commission File No.)
| (State or other jurisdiction or incorporation) | (I.R.S. Employer Identification Number) | |||||||
(Address of principal executive offices)(Zip Code)
Telephone: (843 ) 383-7000
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Chief Executive Officer Transition
On November 6, 2026, R. Howard Coker, Director, President and Chief Executive Officer of Sonoco Products Company (the “Company”), notified the Company of his decision to retire as Director, President and Chief Executive Officer, effective December 31, 2026 (the “Effective Date”). The Board of Directors of the Company (the “Board”) has accepted Mr. Coker’s notice of retirement.
In accordance with the Board’s ongoing succession planning process, on November 6, 2026, the Board appointed and elected Ernest D. Haynes III, the Company’s President, Global Consumer Packaging, to serve as President and Chief Executive Officer and as a director of the Company, beginning on the Effective Date.
Mr. Haynes, age 53, joined the Company in 1997 and most recently assumed the position of President, Global Consumer Packaging in August 2026. Mr. Haynes has also held several other positions with the Company, including President, Consumer Packaging, Americas, from November 2025 to August 2026, President, Sonoco Metal Packaging Division, from 2022 to 2025, Vice President, Rigid Paper Containers, North America, from 2021 to 2022, Division Vice President and General Manager of Rigid Paper and Containers, North America, from 2018 to 2021, and Division Vice President and General Manager of Tubes and Cores, U.S. and Canada, from 2015 to 2018. Mr. Haynes is a graduate of the Wharton School’s Executive General Management Program and holds a bachelor’s degree in industrial engineering from Clemson University. Mr. Haynes will serve on the Executive Committee of the Board.
In connection with his employment as President and Chief Executive Officer, Mr. Haynes is entitled to receive (i) an annual base salary of $1,100,004 and (ii) an annual bonus target equal to 120% of his annual base salary, subject to the terms of the Company’s annual cash incentive plan. Mr. Haynes will also be eligible to receive annual awards under the Company’s 2024 Omnibus Incentive Plan of restricted stock units and performance contingent stock units with an anticipated approximate target level of $6,000,000, with the first such annual equity grant expected to be in February 2027. In connection with his employment as Chief Executive Officer, Mr. Haynes will continue to participate in the Company’s Change-in-Control Plan and Executive Officer Severance Plan.
Joachimczyk Retention Award
Also on November 6, 2026, the Executive Compensation Committee of the Board approved a retention award for Paul Joachimczyk, the Chief Financial Officer of the Company, of $1,500,000 in the form of restricted stock units (the “Retention Award”). The Retention Award cliff vests on the second anniversary of the grant date, subject to Mr. Joachimczyk’s continued service with the Company.
Item 7.01 Regulation FD Disclosure.
On November 9, 2026, the Company issued a press release relating to the announcement described in Item 5.02. A copy of the Company’s press release is being furnished as Exhibit 99.1 to this Form 8-K.
The information, including Exhibit 99.1, being furnished pursuant to this Item 7.01 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description of Exhibit | ||||||||||
| 99.1 | Press Release dated November 9, 2026 | ||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SONOCO PRODUCTS COMPANY | ||||||||||||||||||||
| Date: November 9, 2026 | By: | /s/ John M. Florence, Jr. | ||||||||||||||||||
| John M. Florence, Jr. | ||||||||||||||||||||
| General Counsel, Secretary and Vice President | ||||||||||||||||||||
November 9, 2026 Contact: Roger Schrum
843-339-6018
roger.schrum@sonoco.com
Sonoco Announces CEO Succession Plan
Howard Coker to Retire Following Distinguished 41-year Career,
Including as Director, President and CEO since 2020
Ernest Haynes, Sonoco President of Global Consumer Packaging to Succeed Coker
as Director, President and CEO
Hartsville, S.C., U.S. – Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), a Mid-cap Value global packaging company, today announced that R. Howard Coker will retire from his role as Director, President and Chief Executive Officer (CEO), effective on December 31, 2026, following over 40 years with the Company. The Sonoco Board of Directors has appointed and elected Ernest D. Haynes III, currently President, Global Consumer Packaging, to succeed Coker as President and CEO and as a director of the Company. Mr. Coker will continue serving in his role until December 31, 2026.
John R. Haley, Chairman of the Board, said, “On behalf of the entire Board, we are deeply grateful to Howard for his leadership and distinguished service to the Company. As CEO, Howard has led Sonoco through a defining period of transformation. He reshaped Sonoco into a more focused company built around scaled, market-leading Consumer and Industrial packaging businesses with a strong balance sheet. This transition to Ernest reflects the Board’s thoughtful succession planning process, and we appreciate Howard’s close partnership with the Board that has resulted in today's announcement. We look forward to benefiting from his continued counsel during the transition.”
Mr. Haley continued, “Throughout Ernest’s nearly 30-year career at Sonoco, he has proven himself to be a seasoned operator and commercial leader with a deep understanding of our businesses. Ernest has led our metal packaging and rigid paper packaging businesses through the integration of our largest acquisitions and has held operational leadership roles in our Industrial Paper Packaging business. His knowledge of our customers and markets, and his track record of execution, make him uniquely qualified to lead Sonoco in its next phase of growth and value creation.”
Mr. Coker said, “It has been the honor of my career to serve as CEO of Sonoco, a company I have known all my life. I want to thank our 22,000 team members around the world for their dedication to our purpose, Better Packaging. Better Life., and for everything they do for our customers, communities and shareholders. Now is the right time to hand leadership to the next generation as part of our orderly succession planning process. Ernest is a proven leader who has built a deep understanding of our business across nearly three decades with Sonoco. I have tremendous confidence in him and look forward to supporting him through the transition.”
Mr. Haynes said, “I am honored and appreciative to our Board of Directors for trusting me to lead Sonoco, and I am energized by the opportunity to guide this tremendous organization going forward. Through Howard’s leadership, we are inheriting a strong foundation that positions us well for the future. I am thankful for his investment in me, and we will work closely together to ensure a seamless transition. I am looking forward to working with our global leadership team to accelerate value creation while delivering innovative solutions within our markets. We will focus on delivering sustainable growth, profitability improvement and efficient capital allocation to creation lasting value for our customers, our shareholders and our people.”
North Second Street
Hartsville, S.C. 29550 USA
843/383-7794
www.sonoco.com
About Ernest D. Haynes III
Mr. Haynes serves as Sonoco’s President, Global Consumer Packaging, a role he assumed in August 2026. Since joining Sonoco in 1997, Haynes has held numerous leadership roles across both the Company’s Consumer and Industrial segments, including President, Consumer Packaging, Americas; President, Sonoco Metal Packaging Division; Vice President, Rigid Paper Containers, North America; Division Vice President and General Manager of Rigid Paper and Containers, North America, and Division Vice President and General Manager of Tubes and Cores, U.S. and Canada. Prior to that, he was Director of Manufacturing for Tubes & Cores. He also chaired Sonoco’s Corporate Quality Council, reflecting his deep commitment to operational excellence and quality throughout the organization.
Mr. Haynes is passionate about fostering a culture of innovation and ensuring world-class manufacturing, quality and technical service for brands worldwide. He places significant importance on community impact through service and currently serves as a director on the Clemson University Foundation Board and the Can Manufacturers Institute. Mr. Haynes is a graduate of the Wharton School’s Executive General Management Program and holds a bachelor’s degree in industrial engineering from Clemson University and is a Life Member of the Omega Psi Phi fraternity.
Sonoco to Webcast Presentation at Upcoming Investor Conference
Sonoco leadership will participate in an audio webcast presentation at R.W. Baird's 2026 Global Industrial Conference in Chicago starting at 7:20 a.m. (Central Time) Tuesday, November 10, 2026. Participants in the webcast presentation will include Howard Coker, President and CEO, Ernest Haynes, President, Global Consumer Packaging and CEO-elect, and Paul Joachimczyk, Chief Financial Officer. Those interested in listening to the webcast should register at least 10 minutes before the presentation through the attached link: https://event.summitcast.com/view/8hgfu2da8CspZvFv8aZFfm/5zazqLmzQUjynArWm4P3Fa. A replay of the presentation will also be available on Sonoco’s investor relations website at www.sonoco.com.
About Sonoco
Sonoco (NYSE: SON) is a Mid-cap Value global packaging company. With sales of $7.5 billion from continuing operations in 2025, the Company has approximately 22,000 employees working in 260 operations in 37 countries, serving some of the world’s best-known brands. Guided by our purpose of Better Packaging. Better Life., we strive to foster a culture of innovation, collaboration and excellence to provide solutions that better serve all our stakeholders and support a more sustainable future. A Fortune 500 company, Sonoco was proudly named one of the World’s Most Admired Companies by Fortune in 2026 as well as one of America’s Most Trustworthy and Responsible Companies by Newsweek and USA Today’s Climate Leaders in 2025. For more information on the Company, visit our website at www.sonoco.com.
Forward-Looking Statements
Certain statements made in this communication are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “positioned,” “deliver,” “believe,” “committed,” “continue,” “future,” “next,” “opportunity,” “strive,” “will” or the negative thereof and similar expressions identify forward-looking statements.
Forward-looking statements in this communication include, but are not limited to, expectations regarding the Company’s leadership transition; expectations regarding improved performance and future growth; and the Company’s ability to serve stakeholders. These forward-looking statements are made based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management. Such information includes, without limitation, discussions as to guidance and other estimates, perceived opportunities, expectations, beliefs, plans, strategies, goals and objectives concerning the Company’s future financial and operating performance. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements. Risks and uncertainties include, among other things, risks related to the Company’s ability to execute on its strategy, including with respect to its leadership transition, organizational restructuring, portfolio simplification, organizational streamlining, and capital investments, and achieve the benefits it expects therefrom; the ability to retain key personnel and successfully integrate operations under the new leadership structure; and the other risks, uncertainties and assumptions discussed in the Company’s filings with the Securities and Exchange Commission, including its most recent reports on Forms 10-K and 10-Q, particularly under the heading “Risk Factors.” Except as required by applicable law, the Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur.
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