appropriately paid ceos overpaid ceos underpaid ceos 14 special report minneapolis/st. paul business

APPROPRIATELY PAID CEOs OVERPAID CEOs UNDERPAID CEOs 14 Special Report Minneapolis/St. Paul Business
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  • July 29, 2011 Minneapolis/St. Paul Business Journal | mspbj.com Special Report 15 14 Special Report Minneapolis/St. Paul Business Journal | mspbj.com July 29, 2011

    CEO Company Score Douglas Milroy G&K Services Inc. -19 William Cook Donaldson Co. Inc. -18 Sally Smith Buffalo Wild Wings Inc. -18 Joseph Grillo Digital Angel Corp. -17 Daniel Starks St. Jude Medical Inc. -14 David Martin Cardiovascular Systems Inc. -14 John Coughlan Xata Corp. -13 George Buckley 3M Co. -12 Richard Davis U.S. Bancorp -12 William Cooper TCF Financial Corp. -12 Bradley Krehbiel HMN Financial Inc. -12

    Joseph Dunsmore Digi International Inc. -10 Thomas de Petra Winland Electronics Inc. -10 Cheryl Beranek Clearfield Inc. -10 William Mansfield The Valspar Corp. -4 Bahram Akradi Life Time Fitness Inc. -3 James Wiltz Patterson Cos. -3 Bill Otis New Ulm Telecom Inc. -2 Michael Hoffman The Toro Co. 1

    Anthony Conway Rochester Medical Corp. 1 Kenneth Aubrey Image Sensing Systems Inc. 2

    James Cracchiolo Ameriprise Financial Inc. 3 William Hawkins III Medtronic Inc. 3

    Peter Hauser Entrx Corp. 6 John Wiehoff C.H. Robinson Worldwide Inc. 7 Michael Tattersfield Caribou Coffee Co. Inc. 11 Christopher Twomey Arctic Cat Inc. 11 Rodney Young Angeion Corp. 13 Michael Carrel Vital Images Inc. 14 John Finke HickoryTech Corp. 15 Michael Reger Northern Oil and Gas Inc. 16 Kevin Gilligan Capella Education Co. 17 Willard Oberton Fastenal Co. 17 Keith Stewart ValueVision Media Inc. 17 James Dolan The Dolan Co. 17 James Mandel Multiband Corp. 17 Randall Sampson Canterbury Park Holding Corp. 17 Thomas Oland Techne Corp. 17 Jeffrey Berg Communications Systems Inc. 18 Christopher O’Donnell Famous Dave’s of America Inc. 18

    CEO Company Score

    Lee Schram Deluxe Corp. 22

    Chris Killingstad Tennant Co. 23

    Patrick McHale Graco Inc. 23

    Scott Wine Polaris Industries Inc. 24

    Cary Deacon Navarre Corp. 25

    Richard Braun Medtox Scientific Inc. 27

    Richard Kramp Synovis Life Technologies Inc. 27

    Joseph Levesque Aetrium Inc. 29

    Michael Pudil WSI Industries Inc. 30

    Paul Lidsky Datalink Corp. 32

    Daniel Baker NVE Corp. 32

    William Ulland Ikonics Corp. 34

    Scott Drill Insignia Systems Inc. 35

    Andrew Borgstrom Analysts International Corp. 37

    Steven Wagenheim Granite City Food & Brewery 42

    Mark Gorder IntriCon Corp. 42

    Robert Demorest Mocon Inc. 49

    Scott Crump Stratasys Inc. 50

    Howard Root Vascular Solutions Inc. 56

    John Morgan Winmark Corp. 58

    Edward Cameron Appliance Recycling Centers of America Inc. 58

    Donald Mitchell FSI International Inc. 59

    Michael Degen Nortech Systems Inc. 60

    Kathleen Iverson CyberOptics Corp. 73

    Joseph Micallef Great Northern Iron Ore Properties 89

    Jeffrey Myhre Broadview Institute Inc. 91

    METHODOLOGY

    In an effort to determine which of Minnesota’s public-company CEOs are “OVERPAID” and which are “UNDERPAID,” the Minneapolis/St. Paul Business Journal has evaluated 2010 CEO compensation in relation to the performance of each CEO’s company.

    Those CEOs with a disparity between their own high rank in total compensation and the low rank of their company’s fi nancial performance are considered overpaid. Conversely, those CEOs who rank low in compensation and high in performance are considered underpaid. Those CEOs who place in the middle of the spectrum are deemed “APPROPRIATELY PAID.”

    Companies newly public during the fi scal year of the study, as well as companies recently removed from the development stage, have special characteristics that aren’t captured by our performance metrics. These characteristics might include a stock run of less than one full year, certain special charges to earnings that long-term public companies don’t have, or the lack of prior-year revenue to plug into our formulas. With no way of developing a fair pay-performance link, we’ve delayed until next year the overpaid/underpaid- CEO debut for the following companies:

    Electromed Inc., CEO Robert Hansen SPS Commerce Inc., CEO Archie Black

    Additionally, our methodology requires that overpaid/underpaid CEOs be in charge of their company for at least nine months during the fi scal year in question. Anything less doesn’t support a meaningful evaluation of the pay-performance link. Therefore, the following current or former CEOs are also exempt from our overpaid-underpaid list this year:

    Alan Hodnik, Allete Inc. Daniel Murphy, Alliant Techsystems Inc. Lorna Nagler, Christopher & Banks Corp. Mark Lucas, Imation Corp. Bruce Barclay, SurModics Inc.

    And, fi nally, the following CEO was not included due to his recent death:

    John Hawkins, Hawkins Inc.

    UNDERPAID CEOs

    OVERPAID CEOs APPROPRIATELY PAID CEOs

    CEO Company Score James Prokopanko The Mosaic Co. -67 Joel Ronning Digital River Inc. -64 Michele Volpi H.B. Fuller Co. -60 Gregg Steinhafel Target Corp. -59 Russell Huffer Apogee Enterprises Inc. -58 Brian Dunn Best Buy Co. Inc. -55 Craig Herkert Supervalu Inc. -49 William McLaughlin Select Comfort Corp. -43 Harry Debes Lawson Software -40 Mark Greene Fair Isaac Corp. -40 Laura Hamilton MTS Systems Corp. -40 Andrew Duff Piper Jaffray Cos. -39 Richard Kelly Xcel Energy Inc. -36 Douglas Baker Jr. Ecolab Inc. -35 Paul Finkelstein Regis Corp. -35 Anthony Bihl III American Medical Systems Holdings Inc. -35 Alec Covington Nash Finch Co. -34 Sherman Black Rimage Corp. -34 Lyle Berman Lakes Entertainment Inc. -32 Kendall Powell General Mills Inc. -29 Stephen Hemsley UnitedHealth Group Inc. -25 Randall Hogan Pentair Inc. -24 Ronald Raup MakeMusic Inc. -23 Jeffrey Ettinger Hormel Foods Corp. -22 Wayne Fortun Hutchinson Technology Inc. -22 John Erickson Otter Tail Corp. -21

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