2024 Integrated Report
Simplify daily life to enjoy
what matters most
TABLE OF CONTENTS
2024 INTEGRATED REPORT
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Page 01
INTRODUCTION
02 Chairman’s Message
03 Chief Executive Officer’s Message
04 Financial Performance
PRODUCTS PEOPLE LOVE
08 Innovations Drive Growth
14 Transforming Our Business
ENVIRONMENTAL, SOCIAL,
AND GOVERNANCE (ESG)
16 2024 ESG Approach, Metrics, and Scorecard
18 Transparency, Stakeholder
Engagement, and Leadership
and Resourcing
20 New Innovations in
Sustainable Products
22 The Hefty ReNew™ Program
25 Employee Health and Safety
27 Annual Safety Awards
28 People and Teams Drive
our Business
32 Recruiting and Retention
34 Communities and Volunteerism
36 Partnership with Feeding America
37 Compliance and Business Ethics
CORPORATE GOVERNANCE
38 Board of Directors
38 Leadership Team, Investor Relations,
and Corporate Secretary
FINANCIALS
39 Form 10-K
STOCKHOLDER INFORMATION
Inside back cover
REYNOLDS CONSUMER PRODUCTS INNOVATES AND MANUFACTURES
HOUSEHOLD PRODUCTS THAT SIMPLIFY DAILY LIFE TO ENJOY WHAT
MATTERS MOST. BUSY PEOPLE USE OUR PRODUCTS TO MAKE MEALTIME
AND CLEANUP EASIER—AND DO MORE OF THE THINGS THEY VALUE.
ABOUT THIS REPORT
In our fifth annual report to stockholders, we provide an overview of the 2024 performance of Reynolds Consumer
Products Inc. (RCP) and our long-term business approach. This report covers the fiscal year of January 1, 2024,
through December 31, 2024, and includes all RCP operations. This report also includes our Environmental, Social,
and Governance (ESG) scorecard in our commitment to annually report our progress against our goals.
2024 INTEGRATED REPORT
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REYNOLDS CONSUMER PRODUCTS INC.
DEAR FELLOW SHAREHOLDERS,
As the newest member of the board of directors for Reynolds
Consumer Products, I would like to congratulate our
board, the company’s leadership team, and most of all,
the nearly 6,500 employees who have worked passionately
to build a successful company. I’m pleased to report that
in 2024 the company has achieved their stated goals
and is well-positioned to continue their strategy, which
includes investing in future growth, productivity, and
strong capital returns.
RCP has iconic brands with Reynolds and Hefty, evidenced
by 95% of U.S. households having at least one of the com-
pany’s products in their homes and 70% having three or
more. RCP continued its success in consistently growing
share in the majority of the categories served, because of
its ability to innovate, manufacture, and market products
that are loved by consumers.
The combination of deep consumer understanding, excellent
service to customers and our integrated model to provide
both branded and store brand products with a range of
options is a competitive advantage that is unmatched by
any other provider for these categories.
Our culture leads with safety and values people and teamwork.
We have developed a high-performing team that has
been able to consistently innovate and win in the market. A
focus on operational excellence, cost savings, and process
improvements across all areas of the company contributes
to the bottom line.
We are pleased to share the company’s 2024 results in
this report, which reflect this work with a significant
increase in net income and earnings per share over 2023,
a healthy margin expansion, and a focus on additional debt
reduction. I congratulate the team for their tremendous
accomplishments.
I am grateful to have received a warm welcome to this board
in late 2024 and, along with my fellow board members, look
forward to providing guidance on the company’s plans for
future growth. I want to congratulate Scott Huckins on his
promotion to Chief Executive Officer and Nathan Lowe to
Chief Financial Officer. It is a pleasure to work with them, the
RCP leadership team, and our board of directors. On behalf
of our team, we thank Rich Noll, our previous Chairman, and
Lance Mitchell, the company’s previous CEO, for their long
history of leadership and establishing a strong base on which
to build additional success.
I look forward to working with this knowledgeable and estab-
lished board of directors to continue to advise and guide
RCP’s strategy. I am confident that Reynolds Consumer
Products is well-positioned to achieve our goals.
Sincerely,
Rolf Stangl
Chairman
DEAR RCP SHAREHOLDERS,
I am very pleased to be sharing the information in this annual
report in our fifth year as a publicly-traded company. I was
pleased to join Reynolds Consumer Products as an already-
strong company as CFO in 2023. As the newly-appointed
CEO, I have had the opportunity to assess RCP’s strengths
and potential. I have been able to work closely with our
veteran leadership team, who have aligned their combined
300-plus years of experience to the same strategy. Our
passionate and capable employees have demonstrated a
culture of safety, teamwork and collaboration, with a deep
commitment to innovation and productivity.
Together, we make products people love.
∫ Reynolds and Hefty are billion-dollar national brands,
and when combined with top-quality store brands, we
have a broad offering to lead our large, stable categories.
∫ We value operational excellence. Our manufacturing foot-
print is cost-competitive and U.S.-centric, positioned to
provide excellent service to our customers.
∫ Our customers are trusted major retailers across distribu-
tion channels, and we’ve worked to meet their needs and
develop deep relationships over many years of partnership.
∫ We continue to innovate to fill our pipeline with new
products and product improvements that resonate with
consumers, including more sustainable options for each
of our product lines.
∫ We value safety and are pleased to have earned a world-class
safety record over the history of our company. In 2024,
we achieved a company-best total recordable incident rate
of 0.69. Safety is a core principle in our culture and we
will continue to develop new processes and engage our
employees in a manner that focuses on keeping people safe.
∫ Our 2024 earnings reflect our strong competitive position,
strong cash flows, a deleveraged balance sheet, and the
opportunity to invest in a range of programs to improve
growth, increase productivity, and produce more stable
earnings growth.
I have witnessed that our teams are already working together
exceedingly well. Instead of starting from scratch, we will
leverage the culture to focus on growth, productivity, and
executing attractive investments in our business. I’m
exceptionally proud of our team and the things we have
already accomplished. I’m confident we are ready for more
wins that will make our company even stronger.
We are pleased to share a representation of our products
and programs throughout this report and will continue to
update investors on our programs through our quarterly
earnings releases.
I want to thank our employees for an excellent year in 2024.
On behalf of the RCP team, we thank our shareholders,
our retail partners, and our consumers for your continued
partnership and trust.
Sincerely,
Scott Huckins
Chief Executive Officer
Chairman’s
Message
Chief Executive
Officer’s Message
TABLE OF CONTENTS
42%
WASTE & STORAGE PRODUCTS
$959M
Hefty Waste & Storage
Branded and store brand
trash and food storage bags
$596M
Presto Products
Store brand food storage bags,
trash bags, reusable storage
containers, plastic wrap, and
specialty business including
Fresh-Lock® resealable
closure systems.
33%
COOKING PRODUCTS
$1,247M
Reynolds Cooking & Baking
Branded and store brand aluminum foil,
disposable aluminum pans, parchment
paper, freezer paper, wax paper, butcher
paper, plastic wrap, baking cups, oven
bags and slow cooker liners
25%
TABLEWARE
$918M
Hefty Tableware
Branded and store brand disposable and compostable
plates, bowls, platters, containers, cups and cutlery.
*Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Adjusted EBITDA are non-GAAP financial measures. For a discussion of our use of these
non-GAAP financial measures, and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, see
pages 32-33 of the Form 10-K for our fiscal year ended December 31, 2024, included in this annual report.
ADJUSTED EBITDA
Adjusted EBITDA Margin
Reynolds Cooking & Baking
$222M
18%
Hefty Tableware
$147M
16%
Presto Products
$130M
22%
Hefty Waste & Storage
$272M
28%
TOTAL NET REVENUES
In millions
2022
2022
2023
2023
2024
2024
$3,695
$3,756
$3,817
EARNINGS PER SHARE
(diluted)
$1.67
$1.42
$1.23
-2%
YoY Change
(2024 v. 2023)
+18%
YoY Change
(2024 v. 2023)
+18%
YoY Change
(2024 v. 2023)
ADJUSTED NET INCOME*
In millions
2022
2022
2023
2023
2024
2024
$352
$298
$269
ADJUSTED EBITDA*
In millions
$678
$546
$636
+7%
YoY Change
(2024 v. 2023)
NET INCOME
In millions
2022
2022
2023
2023
2024
2024
$352
$298
$258
$1.67
$1.42
$1.28
ADJUSTED DILUTED
EARNINGS PER SHARE*
+18%
YoY Change
(2024 v. 2023)
+18%
YoY Change
(2024 v. 2023)
2024
Financial Performance
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REYNOLDS CONSUMER PRODUCTS INC.
2024 INTEGRATED REPORT
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NET REVENUES
BY SEGMENT
In millions
TABLE OF CONTENTS
WE LISTEN, LEARN, AND EVOLVE TO INNOVATE
PRODUCTS PEOPLE LOVE
How do we find ways to innovate? We analyze consumer trends and ask consumers what’s most
meaningful to them. We talk with our customers about what products and price points are in
demand. Whether it’s developing an entirely new product for today’s cooking trends or discovering
ways to make a product more appealing… we are passionate about discovering areas for growth.
2024 INTEGRATED REPORT
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REYNOLDS CONSUMER PRODUCTS INC.
Our goal is to be the leading supplier
of products used for cooking, serving,
cleanup, and storage in North America.
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REYNOLDS CONSUMER PRODUCTS IS COMMITTED TO
DRIVING GROWTH THROUGH NEW PRODUCTS AND
FEATURES, INCLUDING SUSTAINABLE PRODUCT OPTIONS.
EVERY YEAR SINCE 2018… AND AGAIN IN 2024… WE HAVE
ACHIEVED OUR TARGET OF GREATER THAN 20% OF REVENUE
FROM PRODUCTS LESS THAN 3 YEARS OLD.
HERE ARE JUST SOME OF THE
PRODUCTS PEOPLE LOVED IN 2024:
Innovations
Drive Growth
Reynolds Wrap® Heavy Duty foil sheets simplify food prep,
cooking, and storage with quick and easy dispensing.
Consumer response to our regular-weight foil sheets was
so successful, we extended into the more robust heavy
duty version in 2024, which works great on the grill!
Research has shown that Heavy Duty foil is great for
making grilling packets, easily customizing them, and
simplifying cleanup making your outdoor cooking
experience more enjoyable!
SIMPLIFYING GRILLING PREP WITH
NEW HEAVY DUTY FOIL SHEETS
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REYNOLDS CONSUMER PRODUCTS INC.
2024 INTEGRATED REPORT
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Consumers value sustainable products with
the ease-of-use, strength, and reliability of our
everyday products.
That’s why the Hefty team established a partnership
with Plastic Bank®, an organization dedicated to
helping prevent coastal plastic pollution, while
empowering coastal communities by providing
economic opportunities in exchange for collected
plastic. Hefty® Ultra Strong™ is made with 35%
Recovered Materials which includes 10% Coastal
Plastic collected in partnership with Plastic Bank®.
The bags also contain 25% reclaimed plastic as
scrap material from our production process. The
Hefty team knows every little step matters and
will continue to bring sustainable options to the
waste bag category.
OUR TRASH BAGS ARE FLEXING
WITH SUSTAINABILITY
John Cena, professional wrestler
and actor, once again teamed up
with the Hefty® brand to launch
the “Strength that’s anything but
ordinary” integrated marketing
campaign for trash bags. 2024 is
his eighth year as the Hefty®
brand spokesperson.
TABLE OF CONTENTS
The Hefty Tableware team is excited to
offer more sustainable party cup options.
Consumers are eager for convenient
tableware options that are more sustainable
and perform as well as tableware made
from virgin source materials. Proudly
manufactured in the USA, they use less
virgin plastic, making them a more
eco-friendly choice and promoting
recycling efforts through end-market use.
In limited distribution in 2024, our Hefty®
Party On!® “classic red” party cups are
made with 20% post-consumer recycled
(PCR) material, offering the same great
quality and toughness as regular Hefty®
party cups. Also new to the lineup are
Hefty Ecosave™ compostable party
cups, shown on page 20.
The Hefty® Party Perfect™ clear cups
are made with 30% post-consumer
recycled PET (rPET) material and are
fully-recyclable (check locally). These
cups offer a premium look and enhance
any drink, snack, or dessert.
Made of heavy duty aluminum, Reynolds Kitchens®
slotted aluminum grill pans make it simple to
cook small items on the grill without the risk of
food falling through the grates.
The slotted pans allow the heat from the grill
to caramelize flavorful grill marks on foods
from asparagus to zucchini! Consumers love
them for a “no skewers, no cleanup” life to spend
less time prepping and cleaning and more time
enjoying great food with friends and family.
GRILL PANS MAKE IT
EVEN EASIER!
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REYNOLDS CONSUMER PRODUCTS INC.
HEFTY ECOSAVE™ TABLEWARE EXPANDS
WITH NEW VERSATILE SHAPES & SIZES
In 2024, the Hefty® Tableware business unit launched
three new Hefty ECOSAVE™ SKUs: the Snack & Dip Tray,
the Charola Tray, and Extra Deep Bowl.
Nearly 90% of participants indicated strong purchase
intent during in-home usage test results for both the
Snack & Dip Tray and Extra Deep Bowls for ease of use
for a wide range of everyday meals and snacking. The
Charola Tray also received favorable consumer feedback
due to its size and versatility. These new items join the
high quality Hefty ECOSAVE™ tableware portfolio that
delivers the strength and durability the Hefty® brand is
known for. Consumers also appreciate that the heavy-duty
tableware is microwave-safe, made without added PFAS1,
and BPI-certified compostable2.
1 PFAS or per-and polyfluoroalkyl substances are a group of chemicals used to make fluoropolymer
coatings and products that resist heat, oil, stains, grease, and water. Source: CDC.gov.
2 Commercially compostable only. Facilities may not exist in your area. Not suitable for home composting.
HEFTY® BRAND PARTY CUPS WITH
POST-CONSUMER RECYCLED MATERIALS!
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REYNOLDS CONSUMER PRODUCTS INC.
We’ve heard from consumers that they value sustainable
products—and we know that aluminum is “infinitely recyclable.”
To raise awareness of the availability of our Reynolds Wrap®
100% recycled foil and to set it apart, we updated the box to
improve the connection to environmental interests, including
a new carton board that complies with the highest market
standards and new graphics, including FSC certification.
CONSUMERS LOVE RECYCLED
REYNOLDS WRAP® FOIL!
The expansion of the Hefty® Food Storage
portfolio with press to close bags continued
to drive growth for the Hefty® brand in 2024.
An omni-channel campaign drove consumers
to the shelf to try Hefty® XL Sandwich bags,
which hold 40% more than regular sized
sandwich bags at a great price! Hefty® Press
to Close bags feature double zippers for a
secure seal and expandable bottoms for easy
filling. In 2025, the Hefty® brand plans to grow
this product line and expand distribution to
more retailers.
HEFTY® PRESS TO CLOSE FOOD
STORAGE PORTFOLIO EXPANSION
1Fabuloso® and associated designs are trademarks of Colgate-Palmolive Company and are used under license.
2Hefty® waste bags, TTL Hefty Fabuloso SKUs, Circana, MULO+, 52 weeks ending 12/29/24.
Consumers love the joyful scents of Fabuloso®1!
In 2024, we added a new refreshing scent to the Ultra Strong™ trash bags lineup—Citrus
& Fruits—joining the popular Lavender and Lemon scents. Hefty® Ultra Strong™ trash
bags with Fabuloso® scents achieved another strong year of growth in 2024 with over
$209 million in retail sales2, a 23% increase in dollar sales versus the prior year. The
Hefty® brand continues to find growth areas that resonate with consumers and drive
purchases, while maintaining dependable strength and quality.
HEFTY® TRASH BAGS EXTEND GROWTH
WITH NEW FABULOSO® SCENT
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THE PROGRAM IDENTIFIES, PRIORITIZES, AND RESOURCES HIGH-VALUE INITIATIVES
Reyvolution strengthens our topline through disruptive growth and innovation, and supports
margin expansion via improvements to our cost structure through investment in multiple high-value
initiatives. Our Boundless Center of Operational Excellence is a great example of just one of
our initiatives tracked under the program. Key focus areas include how we hire/develop/retain
hourly employees, automation, intelligent factory, procurement, productivity, and more.
We not only look at what we do now, but what we want to achieve in the future, and how to do it in
the best way. We actively engage employees to make continuous improvements that contribute to
profitable growth.
Several 2024 highlights from this program include:
DIGITAL
JOURNEY:
We use technology to improve our processes and leverage data to make informed decisions. In 2024, we implemented
new digital capabilities across many functions while extending our cybersecurity resiliency program that includes
both technical defenses and regular employee training. We further developed the maturity of our business
continuity program and risk management processes. Our digital workforce team implemented digital assistants to
automate key processes and to evaluate and expand use of artificial intelligence.
BOUNDLESS CENTER OF
OPERATIONAL EXCELLENCE:
“Boundless” is the company’s manufacturing performance
management system that leverages our people, processes,
technology, and safety best practices. Driven by our RCP
Center of Operational Excellence, in 2024, the program
continued to expand and directly engage our on-site teams
to own and deliver systematic operational improvements.
TRANSFORMING OUR BUSINESS
Our “BOUNDLESS”
Journey Continues
TO HELP FUEL GROWTH AND CULTIVATE COST EFFICIENCIES,
OUR BUSINESS TRANSFORMATION PROGRAM, KNOWN AS
“REYVOLUTION,” CHAMPIONS, RESOURCES AND TRACKS
INITIATIVES AT THE PROJECT LEVEL.
INTELLIGENT FACTORY/INDUSTRIAL
INTERNET OF THINGS:
This comprehensive program continues to grow—with
objectives including extending automation, enabling
greater visibility and actionality of data, and expanding
operational improvements.
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REYNOLDS CONSUMER PRODUCTS INC.
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REYNOLDS CONSUMER PRODUCTS INC.
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG)
2024 ESG Approach, Metrics,
and Scorecard
ESG SCORECARD PROGRESS
TARGET
METRICS
2024 PERFORMANCE
OBJECTIVE
TIMING
PRODUCTS
SUSTAINABLE PRODUCT OFFERINGS
Offer sustainable options in each product line across our portfolio
by end of 2025.
% of U.S. product lines1 with at least one
sustainable product offering2
91%
100%
2025
SUSTAINABLE PACKAGING
Use recyclable or reusable packaging for all of our branded products
and make available for private-label products by end of 2025.
% of U.S. consumer branded products3 that
have recyclable or reusable packaging4
99%
100%
2025
PRODUCT CIRCULARITY
Increase the use of recycled aluminum, recycled plastic and
renewable plastic 200% by end of 2030 from our stated baseline5.
% change in recycled aluminum use, recycled
and renewable plastic material purchases
66% increase
200% increase
2030
PEOPLE
SAFETY
Strive for zero incidents.
Total Recordable Rate
0.69
0
PAY EQUITY
Continue our commitment to maintaining pay equity.
Pay Equity
Achieved
100%6
ENVIRONMENT
GREENHOUSE GAS EMISSIONS
Reduce emissions 25% by 2030 from 2021 baseline.
% change Scope 1 and 2 GHG emissions
5.9% reduction
25% reduction
2030
PLASTICS RECOVERY AND REUSE
Divert hard-to-recycle plastics from landfills by expanding
availability of the Hefty ReNew™ program.7
Amount of hard-to-recycle plastics diverted from
landfills through the Hefty ReNew™ program
Number of U.S. households with access to both
curbside recycling and the Hefty ReNew™ program
and % of households participating in those markets
6.0M lbs 7
2.3M HHs 8,9
2% HHs 8,9
40M lbs
27M HHs
10% HHs
2030
WASTE TO LANDFILL
Achieve waste diversion from landfill certification for manufacturing
facilities by end of 2025.
Certification in
progress
Waste diversion
certification
2025
OUR APPROACH
Environmental and social issues affect not only the communities in which we operate, but also the long-term sustainability
of our business. We are committed to adhering to all laws and regulations while continuously reviewing the viability of our
practices, investments, and products. In 2024, RCP continued to make progress on the ESG framework we created in
2021. Our ESG framework is intended to drive our long-term growth, and deliver value to our shareholders, customers,
employees, and other stakeholders.
2024 INTEGRATED REPORT
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5 Recycled and renewable plastic usage based on 2021 material purchases. Recycled aluminum
usage based on 2024 production forecast due to unusual business conditions in 2021.
6 Pay Equity will be updated July 2025; data reflects plus or minus 3%.
7 The Hefty ReNew™ program was known as Hefty® Energybag® prior to 2023.
8 From program inception (late 2016) to year end 2024.
9 Based on estimated U.S. households with access to curbside recycling, using public resources such as the
U.S. Census Bureau, The Recycling Partnership and the Sustainable Packaging Coalition organizations.
1 International & Canada product lines not included.
2 A sustainable product is a product that is recyclable, reusable, compostable, made with recycled
content or made with raw materials derived from renewable resources.
3 International, Canada & B2B products not included.
4 Primary and secondary packaging.
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REYNOLDS CONSUMER PRODUCTS INC.
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TRANSPARENCY
We commit to transparent communication about our governance, operations, and products.
We will disclose material metrics and progress against goals annually. Our intention is to
continuously evaluate and adapt our framework and initiatives as needed.
STAKEHOLDER
ENGAGEMENT
We are committed to adhere to all laws and regulations and will continue to engage with
stakeholders as we work to implement our ESG framework. We seek their input through
direct communication, investor conferences, shareholder meetings, trade association
partnerships, community partnerships, customer engagement, and employee feedback.
In addition, we will continue to engage with industry peers and experts. As a result, our
strategy will continue to evolve over time.
LEADERSHIP
AND RESOURCING
Our efforts are led by Rachel Bishop, President, Hefty Tableware Business Unit, and our
director of sustainability, combined with a senior manager and cross-functional steering
committee. Together, they help formally embed our ESG framework and goals at all levels
of the organization in alignment with the company’s strategic goals. The team draws
on additional internal and external experts to apply standards, align definitions, gather
and analyze data, and stay informed on trends and changes in the industry. In addition,
the team has assembled specialized working groups to drive progress toward achieving
our targets.
PRODUCTS
CREATE PRODUCTS
PEOPLE LOVE
PEOPLE
HELP COMMUNITIES
THRIVE
ENVIRONMENT
USE RESOURCES
RESPONSIBLY
SUSTAINABLE PRODUCTS
Offer sustainable options
across our portfolio
SUSTAINABLE PACKAGING
Utilize recyclable packaging for
our branded products
PRODUCT CIRCULARITY
Increase use of recycled resin and
aluminum for product production
SAFETY
Strive for zero incidents
PAY EQUITY
Continue our commitment to
maintaining pay equity
COMMUNITY COLLABORATION
Create enthusiasm for consumer
recycling and composting
GREENHOUSE GAS EMISSIONS
Reduce emissions by 25% by 2030
PLASTICS RECOVERY
Expand availability of the
Hefty ReNew™ program
WASTE TO LANDFILL
Achieve zero waste to landfill
for manufacturing
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In 2024, we continued to add new sustainable product options and increase the number of products that are either recyclable,
compostable, or are made with recycled or plant-based materials to our product categories. This includes additional research
into developing more types of sustainable tableware, including Hefty ECOSAVE™ Compostable Party Cups, our first-ever
compostable red party cups, made to perform as well as their namesake.
In 2024, we extended our Hefty ECOSAVE™ line with new options. We’ve also expanded the availability of waste bags and food
bags with post-consumer recycled materials.
Our Albany, Oregon, manufacturing location, also known as Atacama Manufacturing Inc., which was acquired in 2023, serves
as both a production facility and an in-house innovation center for sustainable materials and product development capabilities.
This center of expertise allows us to investigate and test production scalability of new products made with recycled, renewable,
or plant-based materials.
With PFAS being an increasing concern for the environment, we champion product safety and compliance. In 2024, all
RCP products intended for use with food, including food storage bags and tableware products, are formulated without PFAS.
The company partners with many trade and industry organizations for their expertise, including the Aluminum Association,
Biodegradable Products Institute, Plastics Industry Association, and the Sustainable Packaging Coalition.
RCP continues to provide materials to The New Norm (TNN), an innovative start-up with novel technology to recycle materials
into yarn and knit fabric into specialty garments. To date, TNN has recycled material equivalent to 10,000 Hefty® party cups
and demonstrated their technology at both lab and pilot scale. To date, TNN has successfully recycled party cups, extruded yarn,
knitted fabric, and launched a capsule of 3D knit garments that sold out through their website, with plans to scale up in the future.
NEW SUSTAINABLE PRODUCT OPTIONS AND CAPABILITIES
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REYNOLDS CONSUMER PRODUCTS INC.
New Innovations in
Sustainable Products
We’re listening to consumers who want to choose products with excellent
performance, an attractive price, and that are also better for the environment.
2024 INTEGRATED REPORT
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TABLE OF CONTENTS
THE HEFTY RENEW™ PROGRAM,
A COMPLEMENT TO CURRENT
RECYCLING EFFORTS, COLLECTS
HARD TO RECYCLE PLASTICS
AND DIVERTS THEM AWAY
FROM LANDFILLS.
INNOVATIVE PLASTICS RECOVERY
PROGRAM FOR CONSUMERS
The
Hefty ReNew™
Program
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REYNOLDS CONSUMER PRODUCTS INC.
1The Hefty ReNew™ program was known as Hefty® Energybag® prior to 2023.
The program is easy and convenient. In participating communities,
residents purchase the Hefty ReNew™ orange bags at their local
retailer or online to collect their hard to recycle plastics. Once the
orange bag is full, residents simply place the bag directly in their
existing recycling bin or at their local recycling drop-off location.
The material recovery facility then collects the bags and separates
them from other recyclables. From there, the Hefty ReNew™ team
transfers the materials to partners that have the capabilities to
convert them into new and useful products like park benches
and lumber.
In 2024, we expanded this program to new markets that included
multiple regions in Ohio, portions of Lake County, Illinois, and Tucson,
Arizona. The program continues to operate in participating communities
in Georgia, Idaho, Nebraska and Tennessee and, with the 2024 additions,
is now available to 2.3 million households with curbside recycling.
Since the program’s inception in 20161, the program has diverted over
3,000 tons of hard-to-recycle plastics from landfills. For other
updates on the program, visit HeftyRenew.com.
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In 2024, we had zero fatalities and achieved another
best-in-class incident rate, adding to our already
impressive year-over-year safety performance with an
outstanding total recordable incident rate of 0.69 that
is an improvement from prior year and far exceeds the
benchmark of 1.0. In addition, four plants and 11 warehouses
completed 2024 with zero recordable incidents. For the
company overall, we reduced recordable injuries by 12%
and worked to reduce 75% of our top-identified risks.
To accomplish this, we have robust safety policies and
programs and work to raise awareness among all employees.
Safety is an integral part of our innovation processes—we
“build in” safety to each and every one of our processes,
choosing our equipment with careful attention to how to
best protect people.
Our overall safety practices are governed by our company-wide
safety policy, supplemented by additional local policies specific
to the processes and equipment unique to each site. All
employees, contractors, and visitors are required to report
all incidents in a timely manner to ensure appropriate care is
received and that the incident is investigated thoroughly to
identify root cause(s) and ensure effective corrective and
preventative measures are implemented.
We record safety activities and events and track training
and compliance requirements through a centralized safety
management system. We evaluate and track performance
using corporate and site-specific scorecards composed of
leading and lagging indicators. Results are reviewed as an
organization each month and communicated at all levels.
All employees and contractors participate in safety training
before beginning work in our facilities. We also communicate
environmental, health, and safety policies and protocols
during monthly safety awareness training with employees
throughout the year.
OUR GOAL IS ZERO INJURIES BECAUSE IT MEANS THAT EVERY TEAM MEMBER WHO COMES TO
WORK WILL BE ABLE TO RETURN HOME AS HEALTHY AND WHOLE AS WHEN THEY ARRIVED.
WE BELIEVE THAT ZERO INJURIES IS ATTAINABLE.
EMPLOYEE HEALTH AND SAFETY
Safety: Our Top Priority
“SIMPLIFY DAILY LIFE” EXTENDS
TO HOW WE WORK TOGETHER.
WE ARE COMMITTED TO PUTTING SAFETY FIRST, ALWAYS.
WE TREAT PEOPLE WITH RESPECT AND OPERATE ETHICALLY.
WE ARE PASSIONATE ABOUT COLLABORATION, TEAMWORK,
AND ACHIEVING OUR GOALS.
People
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REYNOLDS CONSUMER PRODUCTS INC.
TABLE OF CONTENTS
We assess what Personal Protective Equipment (PPE) is required in each work area to prevent injuries, designed for
both immediate or longer-term prevention. PPE requirements with the appropriate level of protection are assessed at
each facility and according to job-specific hazards; including safety shoes, safety glasses, hard hats, hearing protection,
and different types of gloves. We restrict loose clothing and non-standard tools that could lead to injuries.
We actively enforce hearing-conservation measures to prevent hearing loss. Risks are assessed and mitigated
through noise surveys, noise-reduction projects, required use of hearing protection, and training.
Key employees in each of our facilities are trained in first aid, use of AEDs (automated external defibrillator devices),
and defined roles in the event of an injury or medical emergency, including calling 911 and providing assistance until
additional help can arrive.
We ensure that employees who may work near hazardous materials are properly trained, informed, and provided with
the appropriate PPE. All materials and substances must have a Safety Data Sheet (SDS), properly labeled, inventoried,
and kept in designated storage locations. We conduct industrial hygiene surveys as needed to ensure no serious
exposure risk exists.
Employees are required to wash their hands frequently and maintain clean work areas to protect not only the safety
and hygiene of our products, but for their own health and well-being. We encourage people to practice respiratory
etiquette, stay home if they are not feeling well, and consult with their healthcare provider on any health concerns,
including vaccination.
Not only do we conduct general aware-
ness training on a regular basis for
compliance and prevention, but we
also provide focused training as
needed in response to increased risk,
such as busier production cycles, and
according to weather conditions, such
as preventing heat-related illness
during the summer and avoiding slip
and fall incidents during the winter.
One of the top reasons for injuries and
illness are ergonomic hazards that lead
to musculoskeletal disorders (MSD)—
typically joint, tendon, and ligament
pain. Due to the manual activity of
many job tasks, MSDs can develop
from repetitive and strenuous motions
and exertions. To reduce the risk of
ergonomic injuries, we have expanded
the review and assessment of repetitive
and strenuous movements and
exposures in our processes. We then
mitigate ergonomic hazards with
automation, lift-assist devices, work
acclimation, job rotation, stretching
programs, training on proper lifting
techniques, and early reporting.
Additionally, we promote and encourage
health benefits offered by the company
for work-related and non-work-related
health conditions. We offer a no-cost
virtual physical therapy program open
to all employees, designed to prevent
musculoskeletal issues, promote
flexibility, and reduce stiffness or
discomfort from physical activity.
One way we recognize our teams’ commitment to safety is through our annual safety awards, which include:
EXECUTIVE SAFETY
COUNCIL AWARD
RISK
REDUCTION AWARD
EHS
EXCELLENCE AWARD
EXCELLENCE IN
SAFETY—WAREHOUSE AWARD
Awarded to the team
that embodies RCP’s
vision for health
and safety
excellence through
its commitment to
a safety-first culture.
Awarded to the
site that has
demonstrated
the biggest gains
in reducing
safety risks.
Awarded to sites that achieve
zero, or a 20% or more reduction
in injuries, maintained above
goal for all leading indicators,
and that have not received
non-compliance citations from
an EHS government regulatory
agency. In 2024, this included
nine of our 18 plant sites.
Awarded to our warehouse
teams who have shown
outstanding commitment
to safety excellence. In
2024, this included 11
of our 13 warehouses.
We believe that safety is not built on a series of one-time events but is built into our values and is a part of our culture.
We continued to invest in safety in 2024 with a focus on strengthening roles, expectations, and accountabilities and
developing an associate-led safety approach; mitigating ergonomic and slips, trips, and fall hazards; reinforcing safe
behaviors; and a continued focus on proactive hazard identification and injury/illness risk mitigation.
ANNUAL SAFETY AWARDS
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REYNOLDS CONSUMER PRODUCTS INC.
2024 INTEGRATED REPORT
//
Page 27
TO PROTECT EMPLOYEE HEALTH AND EXPOSURE TO POTENTIAL HARMFUL EFFECTS
IN THE WORKPLACE, WE ALSO EMPLOY ACTIVE POLICIES IN THESE AREAS:
OUR INITIATIVES FOCUS ON TOP AREAS OF RISK, INCLUDING PREVENTING
SLIPS, TRIPS, AND FALLS, AND ERGONOMIC-RELATED INJURIES AND ILLNESSES.
EVERY EMPLOYEE HAS THE AUTHORITY AND IS ENCOURAGED
TO STOP ANY ACTIVITY THAT PRESENTS A SAFETY RISK
We recognize safe behavior with positive reinforcement and reward employees for participating
in proactive safety initiatives that increase awareness, mitigate hazards, and reduce risk.
Throughout 2024, we expanded employee-led safety committees through our Boundless
operational excellence program to engage employees in identifying top safety risks,
mitigating them, and reinforcing positive behaviors to extend our safety-first culture.
TABLE OF CONTENTS
“Creating products people love” is the backbone of everything
we do. We leverage innovation and deep insights to serve
both customers and consumers with the right products at
the right prices. We are incredibly proud that our products
are found in 95% of U.S. households. We don’t just make
our products; we also use them in our own homes to make
family life a little easier.
We launched “explore for more” as part of our vision to
actively investigate more opportunities. We partnered
with our customers to launch new products designed to
find growth opportunities in our categories.
Our commercialization expertise continues to expand
with each new product launched. In 2024, we analyzed our
innovation processes and added additional structure to drive
best practices and alignment cross-functionally… including
the innovation, consumer research, operations, and marketing
teams across our four business units.
2024 INTEGRATED REPORT
//
Page 29
WE FOCUS ON BUILDING STRONG TEAMS
AND PROCESSES THAT ALIGN TO SUPPORT
OUR BUSINESS STRATEGY.
People and Teams
Drive our Business
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REYNOLDS CONSUMER PRODUCTS INC.
WE VALUE OUR TALENTED WORK FORCE THAT IS PASSIONATE
ABOUT COLLABORATION, TEAMWORK, AND ACHIEVING OUR GOALS.
TABLE OF CONTENTS
Our employees are proud to share what matters most… family,
education, teamwork, community service, accomplishments,
and more.
We believe “simplify daily life” also extends to the ways we
work together. Feedback is important to our culture—we
intend for our strategies, programs, and initiatives to
evolve to focus on the ones that are most effective and
meaningful to our employees.
We ask for feedback through an employee ambassador
program and our Boundless Center of Operational
Excellence, and in many other ways. These discussions
center on ways to help make our workplace safer, more
supportive, and more productive. Employees tell us that
our supportive culture and core values contribute to
increased teamwork, engagement, and retention.
Developing our culture is a shared responsibility by our
leadership team and all our business units and functions,
including Finance, EHS, Human Resources, Information
Technology, Legal, Marketing, Sales, Operations, and our
plant teams.
Our culture has always centered on treating people with respect and operating
ethically. We promote collaboration in support of common goals through our
“Together, we make great things happen” tagline.
2024 PEOPLE AND
CULTURE HIGHLIGHTS
2024 INTEGRATED REPORT
//
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REYNOLDS CONSUMER PRODUCTS INC.
TABLE OF CONTENTS
The Talent Acquisition team’s mission is to attract, select,
and retain top-quality talent to support RCP’s strategic goals.
We strive to attract and retain a talented workforce that
embraces our core values of safety, teamwork, and
development. In 2024, RCP filled more than 2,184 hourly
positions and 213 salaried roles at our corporate offices and
manufacturing facilities. For salaried roles, we filled 67
successor roles internally with candidates nominated during
the annual talent review and succession planning process.
From a talent management standpoint, we continue
to refine our processes and leverage our technology
resources. In 2024, we expanded our HR data analytics
capabilities to proactively address recruiting needs. We
updated and modernized our applicant tracking system to
offer a streamlined, modern application process for candidates,
including text messaging and translation support. It also
streamlines internal processes, including workflow, to
speed up scheduling, interviewing, and communications.
RCP invests in the growth and development of its employees
through our Learning Management System (LMS), which
serves as a common technology platform to deliver and
track critical on-demand employee training. The LMS is a
cornerstone of our “Drive Your Career” platform, which hosts
development tools, including resources for manager/employee
feedback sessions, employee talent development profiles and
individual development plans, online training courses, and
information on how to participate in our mentorship and tuition
reimbursement programs.
COMPENSATION, BENEFITS,
AND WELLNESS PROGRAM
In 2024, we began publishing the functional pay range for
new job postings and provided comprehensive employee
education on our compensation model based on pay
transparency and pay equity. We recruit candidates who meet
the qualifications for the role and continuously review validated,
external market compensation data from multiple sources to
ensure our pay rates are competitive and adjust as needed. We
are committed to pay equity, which we achieved again in 2024.
Our comprehensive benefits package for U.S. employees
is focused on supporting the health and well-being of our
employees and their families. We offer a range of options
including medical, dental, vision, prescription drug coverage,
short- and long-term disability, 401(k) retirement plan with
a company matching contribution, vacation and holiday
pay, parental leave*, our employee assistance program,
and life insurance.
Our wellness program for U.S. employees reinforces wellness
through prevention, education, and encouraging screenings
and healthy habits. Employees can earn points through
various activities that support and promote physical, mental,
and financial wellness, including company-provided health
screenings, meeting health targets, preventative care such
as annual physicals, dental cleanings, vision screenings,
and vaccinations. Qualifying activities include options for
educational sessions, exercise, volunteering, and more.
Financial health options include attending educational
sessions for 401(k) retirement and financial planning.
In 2025, we introduced new voluntary elective benefits* for
supplemental critical illness and accident insurance. We also
expanded no-cost access to our virtual physical therapy
program to include all employees regardless of if they elect
health plan coverage.
In our manufacturing locations, we expanded our Leadership
Development Training for supervisors, team leaders, and
trainers, by providing over 5,300 hours of training. The
sessions are proven to enhance new and experienced floor
leaders’ relationships with their teams leading to increased
productivity. We advanced the new hire onboarding experience
and job level progression process by training employees to
standard work using new technology. The change includes
language translation in several of our facilities.
In 2024, we expanded our Early Careers program and our
two-year rotational programs to develop technical, professional,
and leadership skills of new employees in finance &
accounting, engineering, operations, and supply chain roles.
Our mentorship program is open to all salaried employees.
Those who serve as mentors strengthen their leadership
and coaching skills. Those who seek mentorship have
the opportunity for individual coaching to build their
competencies for personal and professional success.
“Making Great Things Happen” is a powerful tool that provides
employees a recognition portal to exchange impactful
feedback, recognize accomplishments, and provide
encouragement to colleagues. Employees can request
feedback and digitally present recognition and badges
to colleagues who have helped or inspired them.
2024 INTEGRATED REPORT
//
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REYNOLDS CONSUMER PRODUCTS INC.
Recruiting and Retention
WE VALUE OUR PEOPLE: AN ENGAGED, STABLE
WORKFORCE IS ESSENTIAL TO OUR SUCCESS.
*Offered to non-bargained employees
TABLE OF CONTENTS
OUR CONSUMERS AND OUR EMPLOYEES SHARE
WHAT MATTERS IN THEIR COMMUNITIES.
Communities and
Volunteerism
RESPONSIBLE DISPOSAL
In 2024, we applied the Recycle Check QR code to select
product packages, which is a program of The Recycling
Partnership to reduce consumer confusion around
recycling. Individuals can easily scan the code to read local
or zip-code based recycling information that is specific to
the recycling practices of their community for that product.
Our Hefty.com and ReynoldsBrands.com consumer-facing
websites each carry a dedicated sustainability section. On
our websites, we provide clear information on sustainability
claims in the product description, including when a product
uses post-consumer recycled content and the recycling or
composting information. We’ve also shared this information
with our retail partners for ecommerce websites so consumers
can easily find this information at the point of purchase either
online or in-store.
Consumers share that recycling is important in their
communities. They value more sustainable product
options and have asked for straightforward information
on recycling and composting for both products and for
product packaging.
The vast majority of our U.S. branded products carry
How2Recycle and How2Compost standardized labeling
as applicable—so consumers can easily understand
recycling or composting options both at the time of
purchase in-store and also at the time they are using
the product.
For products packaged in cartons, we value and prioritize
packaging that is made from 100% recycled paperboard,
which is widely recyclable.
Page 34
//
REYNOLDS CONSUMER PRODUCTS INC.
2024 INTEGRATED REPORT
//
Page 35
WE CONTINUED TO MAKE PROGRESS TOWARD ACHIEVEMENT OF OUR GOALS:
OUR SCIENCE-BASED GREENHOUSE GAS (GHG) EMISSION REDUCTION TARGETS:
∫ We continuously work to increase our consumption of
recycled and renewable materials in producing our products.
This includes reducing or recycling scrap generated during
our production processes. We offer recycling in our facilities
as available in each community.
∫ In 2024, we joined the Flexible Film Recycling Alliance (FFRA),
a new effort that aims to address the challenges associated
with recycling flexible films and bags by bringing together
industry stakeholders from across the supply chain.
∫ RCP commits to reduce absolute scope 1 and 2 GHG
emissions 25% by 2030 from a 2021 base year.
∫ The company also commits to reduce absolute scope 3
GHG emissions from purchased goods and services 25%
within the same timeframe.
FINDING WAYS TO REDUCE THE AMOUNT OF WASTE IN OUR
OPERATIONS, INCLUDING MATERIALS AND ENERGY—IS PART
OF OUR OPERATIONAL EXCELLENCE CULTURE.
THE HEFTY® BRAND HAS PARTNERED WITH PLASTIC BANK® TO HELP PREVENT COASTAL PLASTIC POLLUTION. AS SHOWN ON PAGE 9,
HEFTY® ULTRA STRONG™ TRASH BAGS INCLUDE 10% COASTAL PLASTIC COLLECTED IN PARTNERSHIP WITH PLASTIC BANK®.
TABLE OF CONTENTS
PARTNERSHIP WITH FEEDING AMERICA
1 box purchased 1 meal* donated
*$1 helps provide at least 10 meals secured by Feeding America® on behalf of partner food banks.
Reynolds® is making it easy to help in the fight against hunger.
Any Reynolds product you purchase from 9/23 to 9/30/24 will help
Feeding America® provide a meal* to neighbors experiencing hunger.
SERVE UP hope
ONE MEAL AT A TIME
Page 36
//
REYNOLDS CONSUMER PRODUCTS INC.
2024 INTEGRATED REPORT
//
Page 37
SUPPORTING DISASTER RELIEF EFFORTS
AND EMPLOYEE VOLUNTEERISM
RCP employees are encouraged to volunteer or donate
to the charities and causes they are passionate about.
Great examples of how our employees contribute to our
communities include both collections and volunteering
for food drives/food kitchens, blood donation,
backpack/supply donations for back-to-school, hat/
sock/glove drives, holiday gift programs, to assisting
directly for hurricane relief.
In addition to employees directly providing hurricane
relief in North Carolina, RCP supported donations of both
tableware and trash bags to local support organizations
to assist in relief efforts.
In 2024, our Malvern, Arkansas, facility and employees
joined a local partnership to fund and install a swing
set designed for wheelchair users at a local elementary
school serving numerous children with disabilities.
In 2024, RCP contributed over 1.4 million packages of
hinged lid containers and plates to Feeding America for
direct use in food kitchens in 45 states.
In a long-standing partnership, RCP donated Hefty® bags
to the American Red Cross for disaster relief, equipping
their rapid response teams positioned in various regions
in the U.S. that support weather-related disasters.
COMPLIANCE AND BUSINESS ETHICS
At RCP, it is important not only what we do, but how we do
it. Key to our values is a strong culture of compliance and
ethical behavior.
In addition to our commitment to adhere to all state and
federal laws, rules, and regulations, we expect all officers,
directors, and employees of RCP to adhere to our Code of
Business Conduct. Topics include, but are not limited to,
harassment and discrimination, conflicts of interest,
anti-bribery, and antitrust. Failure to comply with the code
and other applicable policies and procedures is subject to
corrective action, up to and including separation of
employment. Employees are trained annually on our code,
with salaried employees certifying that they have read and
agree to adhere to our code. We expect our customers,
vendors, contractors, suppliers, and other partners to
adhere to our code of conduct and also to report any
suspected violations of our company ethics. RCP is
committed to investigating all potential violations of
the code fairly and reasonably. The company maintains
a strict non-retaliation policy.
We provide regular communications on how to anonymously
report any violation to employees. The information on our
code is available on the company website, intranet, and posted
in all facilities. Our ethics hotline for reporting is available 24
hours a day, seven days a week, by phone and internet and is
staffed by an independent third-party provider.
*$1 helps to provide at least ten meals secured by Feeding America® on
behalf of local member food banks.
The Reynolds® brand is partnering with Feeding America®
to help reduce hunger in the United States. As part
of September 2024 Hunger Action Month, Reynolds
participated in a cause-marketing campaign designed
to engage the public to take action on the issue of hunger.
During this time, Reynolds helped provide one meal* for
Feeding America with every purchase made at participating
national retailers. All Reynolds Wrap® foil products and
Reynolds Kitchens® products, including parchment
paper, slow cooker liners, foil pans, and more, were
a part of the campaign to maximize support, which
resulted in three million meals* donated in 2024.
Since 2020, Reynolds has donated approximately 10
million meals through Feeding America. The campaign
was supported with promotions both in-store and
broad reach media including magazine ads, digital
ads, social media ads, and our website with links
leading to purchase.
To enhance our individual participation in Hunger Action
Month, employees were also encouraged to volunteer at
their local food bank or to consider making a donation.
TABLE OF CONTENTS
At RCP, we believe that strong governance practices are essential to providing long-term value for our shareholders,
customers, team members, and communities. Our Board of Directors has adopted corporate governance guidelines
that serve as a framework for the governance of the company.
The Board has two committees:
1. Audit Committee
2. Compensation, Nominating, and
Corporate Governance Committee
On September 23, 2024, Rolf Stangl was elected as Director and Chairman of the Board of Directors, following the resignation of
Richard Noll as Director and Chairman of the Board on September 18, 2024. On October 30, 2024, Lance Mitchell notified the Board
of Directors that he planned to step down as President and Chief Executive Officer and as a member of the Board of Directors,
both effective as of January 1, 2025. Mr. Mitchell will remain with RCP as an advisor until his retirement on July 31, 2025.
Effective January 1, 2025, Scott Huckins was appointed as President and Chief Executive Officer and elected as a member of the
Board of Directors and Nathan Lowe was appointed Chief Financial Officer.
As of March 1, 2025, our Board of Directors consists of eight directors, four of whom are independent based on Nasdaq rules for
director independence. The Board is led by an independent non-executive chair. You can find more detailed information about our
current Board and Committee Charters on our website, ReynoldsConsumerProducts.com/Investors.
BOARD OF DIRECTORS
LEADERSHIP TEAM, INVESTOR RELATIONS, AND CORPORATE SECRETARY
Scott Huckins
President and Chief Executive
Officer as of January 1, 2025
Rolf Stangl
Director and Chairman
of the Board of Directors
Stephen Estes
Chief Administrative Officer
Rachel Bishop
President, Hefty Tableware
Business Unit
Greg Cole
Director
Judith Buckner
President, Reynolds Cooking
& Baking Business Unit
Helen Golding
Director
Christopher Corey
President, Presto
Products Business Unit
Marla Gottschalk
Director
Christine Montenegro
McGrath
Director
Ann Ziegler
Director
Rita Fisher
Chief Information Officer
and Executive Vice
President, Supply Chain
CORPORATE GOVERNANCE
Page 38
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REYNOLDS CONSUMER PRODUCTS INC.
Lisa Smith
President, Hefty Waste &
Storage Business Unit
Mark Swartzberg
Vice President,
Investor Relations
David Watson
Legal Counsel and
Corporate Secretary
Lance Mitchell
Executive Advisor
as of January 1, 2025
Stephan Pace
President,
Sales Evolution Team
Nathan Lowe
Chief Financial Officer
as of January 1, 2025
Valerie Miller
Executive Vice President,
Human Resources
Scott Huckins
Director
Allen Hugli
Director
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