Cincinnati area executive pay top 10 list: CEOs who delivered the best shareholder returns in 2013

S&P 500 companies had median return of 32 percent

CINCINNATI -- One measure of CEO success is how much return on investment is delivered back to shareholders. The following CEOs delivered the best return for their shareholders in 2013, based on a review of data supplied by S&P Capital IQ.

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 in 2013. You can view all the findings and search an interactive database below that breaks all executive compensation down. 

RELATED: Cincinnati bosses enjoyed healthy raises in 2013, reflecting national trends

PHOTOS: Top 10 Highest paid executives

PHOTOS: Cincinnati area executive pay top 10 list: Executives with biggest raises in 2013


#10 Craig Lindner and Carl Lindner III

Co-CEOs, American Financial Group Inc.

Total 2013 Compensation:
$19,311,584


Raise/pay cut:
15.0%


Total Shareholder Return 1 Year:
51.0%


Total Shareholder Return 3 Year:
93.2%


#9 Robert Zapp

CEO, Bank of Kentucky Financial Corp.

Total 2013 Compensation:
$704,411


Raise/pay cut:
12.0%


Total Shareholder Return 1 Year:
53.0%


Total Shareholder Return 3 Year:
105%


#8 Joe Raver

CEO, Hillenbrand, Inc.

Total 2013 Compensation:
$2,017,393


Raise/pay cut:
-10.6%


Total Shareholder Return 1 Year:
55.3%


Total Shareholder Return 3 Year:
41.4%


#7 Charles Drucker

CEO, Vantiv, Inc.

Total 2013 Compensation:
$4,149,922


Raise/pay cut:
105.1%


Total Shareholder Return 1 Year:
59.7%


Total Shareholder Return 3 Year:
N/A


#6 Jeffrey Lang

CEO, CECO Environmental Corp.

Total 2013 Compensation:
$3,664,135


Raise/pay cut:
343.8


Total Shareholder Return 1 Year:
64.7


Total Shareholder Return 3 Year:
182.5%


#5 John Workman

CEO, Omnicare Inc.

Total 2013 Compensation:
$7,390,291


Raise/pay cut:
43.9%


Total Shareholder Return 1 Year:
69.3%


Total Shareholder Return 3 Year:
144.9%


#4 James Wainscott

CEO, AK Steel Holding Corporation

Total 2013 Compensation:$3,303,514


Raise/pay cut:
-34.7%


Total Shareholder Return 1 Year:
78.3%


Total Shareholder Return 3 Year:
-48.3%


#3 Richard Boehne

CEO, The E. W. Scripps Company (the parent company of WCPO)

Total 2013 Compensation:
$1,777,594


Raise/pay cut:
-33.6%


Total Shareholder Return 1 Year:
100.9%


Total Shareholder Return 3 Year:
114%


#2 Joseph Hete

CEO, Air Transport Services Group

Total 2013 Compensation:
$1,220,706


Raise/pay cut:
-2.2%


Total Shareholder Return 1 Year:
101.7%


Total Shareholder Return 3 Year:
2.4%


#1 Michael Carrel

CEO, AtriCure, Inc.

Total 2013 Compensation:$1,113,612


Raise/pay cut:
-41.4%


Total Shareholder Return 1 Year:
170.7%


Total Shareholder Return 3 Year:
81.9%


More than $320 million in cash and stock awards can be found in the interactive database (see below) with compensation details for 166 executives.

WCPO found:

  • 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. 

 

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 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.


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