Add as a preferred source on GoogleSonoco Names Ernest D. Haynes III CEO as Coker Plans Retirement
The board elected Haynes Nov. 6. His compensation includes a $1,100,004 base salary and a target cash bonus equal to 120% of that amount.
Sonoco Products Company will name longtime executive Ernest D. Haynes III president and CEO on Dec. 31, when R. Howard Coker retires, ending a 41-year career at the packaging company.
The board elected Haynes on Nov. 6, and Sonoco announced the succession Nov. 9. Haynes, who became president of global consumer packaging in August, will also join the board. He joined Sonoco in 1997 and earlier led its metal packaging division.
Haynes will receive an annual base salary of $1,100,004 and a target cash bonus equal to 120% of that salary. He will also be eligible for annual stock awards with an anticipated target value of about $6 million. His first grant is expected in February 2027.
Sonoco’s sales from continuing operations totaled $7.5 billion in 2025, and the company has about 22,000 employees worldwide. Coker has been CEO since 2020 and will remain in his current roles through Dec. 31.
“Now is the right time to hand leadership to the next generation as part of our orderly succession planning process,” Coker said.
Coker and Haynes are scheduled to join Chief Financial Officer Paul Joachimczyk for an investor conference webcast at 8:20 a.m. ET Tuesday, Nov. 10.
Sonny Jang
ReporterSonny Jang reports on people and leadership in digital assets for TokenPost. Send corrections or tips to info@tokenpost.com.