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SEC Filings

ACETO CORP filed this Form DEF 14A on 10/20/2017
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When we refer to our “named executive officers” in this proxy statement, we are referring to our chief executive officer throughout our last fiscal year, our chief financial officer throughout our last fiscal year and our three most highly compensated executive officers other than our chief executive officer and chief financial officer who were serving as executive officers as of June 30, 2017. Our named executive officers for our fiscal year ended June 30, 2017 were the following individuals:


Salvatore Guccione, President and Chief Executive Officer

Douglas Roth, Senior Vice President and Chief Financial Officer

Walter Kaczmarek, III, Chief Operating Officer

Albert L. Eilender, Chairman

Frank DeBenedittis, Senior Vice President, Corporate Business Development


As noted elsewhere in this proxy statement, Salvatore Guccione stepped down as President and Chief Executive Officer on September 27, 2017 and has been succeeded by William Kennally. However, since Mr. Guccione was serving in that capacity during our most recently completed fiscal year and Mr. Kennally was not an executive officer at any point during that year, Mr. Guccione is considered a named executive officer for purposes of this proxy statement and Mr. Kennally (who has served as a director since 2016) is not considered a named executive officer for these purposes.


Our Compensation Philosophy and Objectives


The philosophy of the Compensation Committee is to ensure that the strategic vision of our executive team is supported by modern compensation practices that reward achievement and creation of shareholder value.


Consistent with those purposes, our compensation program employs the following principles:


compensation among our executives and staff should be equitable regardless of gender, race, religion or sexual orientation;


the compensation program should pay for performance, that is, reward the achievement of our strategic initiatives and short-term and long-term operating and financial goals, and provide disincentives for underperformance;


compensation should reflect differences in position and responsibility;


compensation should be comprised of a mix of cash and equity-based compensation that aligns the short-term and long-term interests of our executives with those of the Company, the corporation strategy and our shareholders; and


the compensation program should be understandable and transparent.


In structuring a compensation program that implements these principles, we have developed the following strategies for our executive compensation program:


overall compensation levels should be competitive with our peers and should be set at levels that allow us to attract and retain talented leaders and motivate them to achieve superior results;


a majority of total compensation should be contingent on, and variable with, achievement of objective corporate performance goals;


total compensation should be higher for individuals with greater responsibility and greater ability to influence achievement of our operating and financial goals and strategic initiatives;


the number of different elements in our compensation program should be limited, and those elements should be stable year-over-year, and effectively communicated to and understood by executives and shareholders; and


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