Executive Compensation — More Than Pocket Change
WIDENING OF the wage disparity between the ranks of top executives and workers has been getting some play in this presidential election season. So how does the take-home pay of the top printers stack up? Printing Impressions’ 18th annual executive compensation report highlights the earnings of principal officers at the largest publicly held printing companies.
There was a significant shake-up of the list this year. Several top executives—and companies—dropped from the ranks as a result of the major merger/acquisition activity in 2007. Other companies had personnel changes at the top, and a few repeat executives saw their compensation totals dramatically impacted by the lack of a bonus having been paid in the current reporting period.
The rankings reflect executive compensation reported for the most recent fiscal year, previous fiscal year totals, and the percentage change in compensation between the two fiscal years shown.
In cases where executives weren’t in their current top management positions for all of the company’s latest fiscal year, their totals combine the compensation they earned in each position for the corresponding period of the year.
There is a distortion in the percentage increase reported for Robert Burton due to the fact that he only held the top position at Cenveo for about one-third of the company’s previous fiscal year. Burton’s compensation did still increase on a pro-rated basis, but much more modestly.
On a true year-to-year comparative basis, Scientific Games’ Cliff Bickell was the big winner with a 93 percent jump in total compensation. The company saw its sales increase by 15 percent.
This information is derived directly from the most recent proxy statements of publicly held U.S. and Canadian (where available) printing firms. Printing Impressions uses base salaries, bonuses and other annual compensation to establish pay levels.
In order to provide some basis for meaningful comparison, we do not include any stock options, which may or may not have been exercised, or LTIP payouts since both can vary greatly from year to year. Adding in this long-term compensation would greatly increase the total yearly earnings of many of the executives.
1) WES LUCAS, President and CEO, Quebecor World, Montréal
(Converted to U.S.$$)
Salary + Bonus: $1,552,666
Other Compensation: $688,254
Total: $2,240,920
Previous Year Total: —
Percentage Change: —
2) JOE R. DAVIS, Chairman and CEO, Consolidated Graphics, Houston
Salary + Bonus: $1,219,780
Other Compensation: $3,169
Total: $1,222,949
Previous Year Total: $854,371
Percentage Change: 43%
3) FRANCIS D. GERACE, President and CEO, Multi-Color Corp., Cincinnati
Salary + Bonus: $1,184,079
Other Compensation: $20,156
Total: $1,204,235
Previous Year Total: $853,548
Percentage Change: 41%
4) CLIFF O. BICKELL, President Printed Products Div., Scientific Games, Alpharetta, GA
Salary: $456,058
Other Compensation: $733,144
Total: $1,189,202
Previous Year Total: $617,514
Percentage Change: 93%
5) LEE SCHRAM, CEO, Deluxe Corp., Shoreview, MN
Salary + Bonus: $1,025,000
Other Compensation: $146,768
Total: $1,171,768
Previous Year Total: —
Percentage Change: —
6) LUC DESJARDINS, President and CEO (Departing 2/08), Transcontinental Inc., Montréal
(Converted to U.S.$$)
Salary + Bonus: $1,149,907
Other Compensation: —
Total: $1,149,907
Previous Year Total: —
Percentage Change: —
7) MARK A. ANGELSON, Former CEO, RR Donnelley, Chicago
Salary: $1,000,000
Other Compensation: $61,009
Total: $1,061,009
Previous Year Total: $5,075,642
Percentage Change: -79%
8) ROBERT G. BURTON, Chairman and CEO (Effective 9/05), Cenveo Inc., Stamford, CT
Salary: $957,387
Other Compensation: $14,544
Total: $971,931
Previous Year Total: $292,308
Percentage Change: 233%
9) KEITH S. WALTERS, Chairman, President and CEO, Ennis Inc., Midlothian, TX
Salary: $713,461
Other Compensation: $205,612
Total: $919,073
Previous Year Total: $1,581,947
Percentage Change: -42%
10) JAMES F. CONWAY III, Chairman, President, CEO Courier Corp., North Chelmsford, MA
Salary + Bonus: $817,297
Other Compensation: $60,247
Total: $877,544
Previous Year Total: $675,865
Percentage Change: 30%
11) ALAN F. SCHULTZ, CEO, President and Director, Valassis, Livonia, MI
Salary: $780,000
Other Compensation: $54,398
Total: $834,398
Previous Year Total: $1,613,086
Percentage Change: -48%
12) DENNIS L. REDIKER, President and CEO, Standard Register, Dayton, OH
Salary: $728,000
Other Compensation: $27,900
Total: $755,900
Previous Year Total: $905,800
Percentage Change: -17%
13) DAVID J. SHEA, Chairman and CEO, Bowne & Co., New York
Salary: $500,000
Other Compensation: $76,685
Total: $576,685
Previous Year Total: —
Percentage Change: —
14) ROBERT KEANE, President and CEO, VistaPrint, Lexington, MA
Salary: $337,050
Other Compensation: $1,425
Total: $338,475
Previous Year Total: —
Percentage Change: —
15) MARSHALL REYNOLDS, Chairman and CEO, Champion Industries, Huntington, WV
Salary + Bonus: $1
Other Compensation: $0
Total: $1
Previous Year Total: $1
Percentage Change: 0%
