The following executives had the biggest percentage increase in total compensation between 2012 and 2013, based on a WCPO analysis of pay data disclosed in U.S. Security and Exchange Commission documents by 33 local public companies.
This list is part of WCPO's annual analysis of executive pay that totaled $320 million in cash and stock awards in 2013 to 166 executives of 33 Tri-State public companies. You view findings and search an interactive database below that breaks all the pay down.
PHOTOS: Top 10 Highest paid executives
#10 Benton Cook
VP, Finance, CECO Environmental Corp
#9 Donald Boeding
President of Merchant Services, Vantiv, Inc.
#8 Royal Cole
President of Financial Institution Services, Vantiv, Inc.
#7 Carlos Lima
COO, Vantiv, Inc.
#6 Mark Heimbouch
CFO, Vantiv, Inc.
#5 Charles Drucker
CEO, Vantiv, Inc.
#4 Rodney McMullen
CEO, The Kroger Co.
#3 Christopher Wilson
VP General Counsel, Cincinnati Bell Inc.
#2 Kurt Freyberger
Former CFO, Cincinnati Bell Inc.
#1 Jeffrey Lang
CEO, CECO Environmental Corp.
More than $320 million in cash and stock awards can be found in the interactive database (see below) with compensation details for 166 executives.
- The average Tri-State CEO made $4.2 million in 2013, or 91.5 times the average worker salary of $45,510, according to figures from the U.S. Bureau of Labor Statistics. Former Kroger CEO David Dillon ranked first in this category, with a pay package worth 488 times the average grocery employee.
- Most local CEOs made less than 100 times the average worker in the industries where their companies compete.
- The median pay of Tri-State CEOs increased 12.5 percent to $2.6 million in the 2013 fiscal year. That compares to an 8.8 percent increase in median pay among big-company CEOs nationally, according to a study by Associated Press/Equilar. That study showed median pay for bosses in the S&P 500 was $10.5 million.
- Beyond CEOs, WCPO’s searchable database for executive pay includes 92 bosses who made at least $1 million in 2013. That’s up from 91 last year.
- Sixteen executives exceeded $5 million in total compensation, down from 19 last year.
- Median shareholder return for 32 Cincinnati-based public companies was 31 percent, slightly lower than the 32.39 percent achieved by S&P 500 companies. Fifteen local companies did better than the S&P 500.
Dig deeper in the searchable database below that breaks down total pay by company and by executive. The database also shows shareholder return and the ratio of executive pay compared with the average worker in the same industry.
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.