CINCINNATI - There were 99 local executives who made more than $1 million last year and 22 who made more than $5 million, based on data supplied to WCPO by S&P Global Market Intelligence.
Two of the highest paid were new bosses who were recruited from other companies to replace longtime CEOs. Both are leading their companies through restructuring initiatives.
William Wulfsohn, who replaced James O’Brien at Ashland Inc. in January, 2015, has announced plans to spin off Valvoline into a separate public company based in Lexington. Wulfsohn will continue to head Ashland’s specialty-chemical businesses from its headquarters in Covington.
Michael McDonnell replaced Gregory Kenny at General Cable Corp. in July. The company has been selling off business units in the Asia Pacific and Africa as it tries to recover from the recession.
This is part of WCPO’s annual analysis of executive pay. This year’s searchable database includes details on cash and stock-based compensation totaling $390 million for 151 executives from 29 companies.
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#10 Kevin J. McNamara
Chief Executive Officer, President and Director, Chemed Corp.
Total 2015 Compensation:
$7,425,452
Raise:
21.9%
Total Shareholder Return:
42.75%
#9 Carl H. Lindner, III
Co-Chief Executive Officer, Co-President and Director, American Financial Group Inc.
Total 2015 Compensation:
$7,642,021
Raise:
0.02%
Total Shareholder Return:
22.26%
#8 S. Craig Lindner
Co-Chief Executive Officer, Co-President and Director, American Financial Group Inc.
Total 2015 Compensation:
$7,695,853
Raise:
1.5%
Total Shareholder Return:
22.26%
#7 Kevin T. Kabat
Former Executive Vice Chairman and Member of Finance Committee, Fifth Third Bancorp
Total 2015 Compensation:
$7,975,480
Raise:
9.2%
Total Shareholder Return:
1.26%
#6 John J. Greisch
Chief Executive Officer, President, Director and Member of Mergers & Acquisitions Committee, Hill-Rom Holdings, Inc.
Total 2015 Compensation:
$9,251,695
Raise:
14.4%
Total Shareholder Return:
27.09%
#5 Michael T. McDonnell
Chief Executive Officer, President and Director, General Cable Corporation
Total 2015 Compensation:
$9,288,433
Raise:
NA
Total Shareholder Return:
-6.87%
#4 W. Rodney McMullen
Chairman of the Board, Chief Executive Officer and Member of Proxy Committee, The Kroger Co.
Total 2015 Compensation:
$11,208,450
Raise:
17.3%
Total Shareholder Return:
13.63%
#3 Terry J. Lundgren
Chairman and Chief Executive Officer, Macy's, Inc.
Total 2015 Compensation:
$11,588,384
Raise:
-8.6%
Total Shareholder Return:
-35.07
#2 William A. Wulfsohn
Chairman and Chief Executive Officer, Ashland Inc.
Total 2015 Compensation:
$13,363,368
Raise:
NA
Total Shareholder Return:
2.15%
#1 Alan George Lafley
Former Executive Chairman, The Procter & Gamble Company
Total 2015 Compensation:
$18,286,621
Raise:
-6.2%
Total Shareholder Return:
-6.2%
METHODOLOGY
WCPO obtained compensation data from S&P Global Market Intelligence, which pulled it from annual proxy statements companies filed with the Securities and Exchange Commission. Specifically, compensation data from the "summary compensation table" in each company's proxy document was analyzed. The pay category Changes in Pension Value was excluded from tabulations, because it is an actuarial estimate and does not reflect actual gains and losses. Some executives benefit from above-market interest rates in their pension plans. Those benefits, when disclosed, are counted as cash-based pay.
That data was combined with average worker salary data from the Bureau of Labor Statistics report: May 2015 National Industry Specific Occupational Employment and Wage Estimates.
North American Industry Classification System (NAICS) data was also used to most closely match each company to determine average industry worker salary, although many companies actually compete in multiple categories. NAICS data is the standard used by federal agencies to classify businesses in order to collect, analyze and publish statistics tied to the U.S. economy.
Performance data for each company was supplied by S&P Global Market Intelligence, which pulled total shareholder return estimates over one year and three years for the fiscal year in which that company operates.
