Editor's Note: This article is part of WCPO's annual analysis of executive pay.
The directors of Cincinnati's publicly-traded companies earned an average of $160,618 in compensation in 2013. There were more than 50 board members who earned more than $250,000 for this part-time job, offering advice, technical expertise and strategic insight to the people who run some of Cincinnati's largest companies.
Listed below are the 10 directors who earned the most from their service on local boards. To dig deeper, try WCPO's searchable database listing more than 300 local board members and a story explaining what happens when the board room door closes.
This list is part of WCPO's annual analysis of executive pay that totaled $320 million in cash and stock awards to 166 executives of 33 Tri-State public companies in 2013. You can view findings and search an interactive database below that breaks down all the executive compensation.
PHOTOS: Top 10 highest paid executives
#10 Barry P. Schocher
#9 W. James McNerney Jr.
The Procter and Gamble Company
#8 Steven J. Heyer
#7 Amy Wallman
#6 John E. Welsh III
General Cable Corp.
#5 Phillip R. Cox
Cincinnati Bell Inc.
#4 James D. Shelton
#3 William Isaac
Fifth Third Bancorp
#2 Jonathan Pollack
CECO Environmental Corp.
#1 W. August Hillenbrand
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:
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 andmarket 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.