Cincinnati area executive pay top 10 list: Cincinnati's most expensive boards

Average Cincy firm paid $1.4M in 2013 board fees

Cincinnati's publicly-traded companies spent a combined $45.7 million on their boards in 2013. That's an average of $1.4 million per board and $160,618 per director. Corporate boards offer advice, oversee regulatory compliance and help companies identify management successors.

They're they eyes and ears of shareholders, who like it when profits grow and stock prices rise. One key measure of performance is total shareholder return (TSR), which represents a change in investment value that comes from dividends and a rising or falling stock price .

This list is part of WCPO's annual analysis of executive pay that totaled $320 million in cash and stock awards in to 166 executives of 33 Tri-State public companies 2013. You can view findings and search an interactive database below that breaks all the executive compensation down. 

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#10 Cincinnati Bell Inc.

Total Board Pay:
$1,904,224


Market Cap (in millions):
699.3


Board Members:
9


TSR 1 Year:
-35.0%


TSR 3 Year:
27.1%


#9 Ashland Inc.

Total Board Pay:
2,001,000


Market Cap (in millions):
7,342.6


Board Members:
11


TSR 1 Year:
31.0%


TSR 3 Year:
96.9%


#8 AK Steel Holding Corporation

Total Board Pay:
$2,005,050


Market Cap (in millions):
848.8


Board Members:
10


TSR 1 Year:
78.3%


TSR 3 Year:
-48.3%


#7 Vantiv, Inc.

Total Board Pay:
$2,147,500


Market Cap (in millions):
4,512.2


Board Members:
11


TSR 1 Year:
59.7%


TSR 3 Year:
N/A


#6 Macy's Inc.

Total Board Pay:
$2,232,007


Market Cap (in millions):
21,113.1


Board Members:
10


TSR 1 Year:
37.4%


TSR 3 Year:
142.6%


#5 Hillenbrand, Inc.

Total Board Pay:
$2,493,209


Market Cap (in millions):
1,883.9


Board Members:
11


TSR 1 Year:
55.3%


TSR 3 Year:
41.4%


#4 Omnicare Inc.

Total Board Pay:
$2,710,733


Market Cap (in millions):
5,877.2


Board Members:
9


TSR 1 Year:
69.3%


TSR 3 Year:
144.9%


#3 The Procter and Gamble Company

Total Board Pay:
$2,867,350


Market Cap (in millions):
213,279.4


Board Members:
10


TSR 1 Year:
29.8%


TSR 3 Year:
41.4%


#2 Cincinnati Financial Corp.

Total Board Pay:
$2,928,796


Market Cap (in millions):
7,665.2


Board Members:
15


TSR 1 Year:
38.4%


TSR 3 Year:
88.5%


#1 Fifth Third Bancorp

Total Board Pay:
$3,351,016


Market Cap ( in millions):
18,472.3


Board Members:
12


TSR 1 Year:
42.0%


TSR 3 Year:
54.2%


WCPO analyzed director data disclosed by 33 public companies in their annual proxy statements to shareholders as part of an annual review of executive pay. Findings include:

  • Cincinnati-based companies spent a total of $45.7 million on their boards. That’s an average of $1.4 million per board and $160,618 per director.
  • Of the 297 active board members in Cincinnati, 45 are women. That’s 15.2 percent. Nineteen board members, or 6.4 percent, are minorities, including 13 Black directors and five Hispanics.
  • The average age of Cincinnati directors is 62.2 years. They range from 38-year-old John Maldonado at Vantiv Inc. to Herbert Works, 85, at the Bank of Kentucky.
  • The median shareholder return for Cincinnati companies was 30.95 percent last year and 47.8 percent for the last three years.

View WCPO's interactive database that breaks down board pay:

 

 

METHODOLOGY:

WCPO analyzed compensation numbers from the annual proxy statements to shareholders of 33 Cincinnati-based public companies. S&PCapital IQ supplied numbers for all companies that filed fiscal year 2013 proxies before April 21. It also supplied figures on shareholder return and market capitalization, or the total value of all shares at the end of each company’s 2013 fiscal year. WCPO compiled all remaining numbers, including compensation figures for company directors.

WCPO uses the same methodology as Associated Press/Equilar in measuring total compensation, excluding changes in pension plan values. Figures on average worker salaries come from the report: May 2013 National Industry-Specific Occupational Employment and Wage Estimates.

From that report, WCPO pulled average worker salaries from the North American Industry Classification System (NAICS) codes that most closely match each company. NAICS is the standard used by federal agencies to classify businesses in order to collect, analyze and publish statistics tied to the U.S. economy.

WCPO Digital Multimedia Producer Brian Niesz compiled and created the interactive graphic and photo gallery lists.
WCPO Editorial Assistant Jane Andreasik provided research.
WCPO Digital Managing Editor Chris Graves edited this report.


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