IHS Chemical Week

Chemweek's lab

Executive compensation: CEOs post gains as profits rebound

7:48 AM MDT | July 29, 2013 | —Lindsay Frost

A surge in revenues and profits from shale gas helped lift US chemical profits in 2012—and took executive pay along with them. This year’s CW survey shows that the median increase for the 37 CEOs who held the same title in 2012 and 2011 was 19%, up from the 7.7% jump in 2011. Of the 43 total CEOs reported this year, only 5 changed from 201—showing a consistency in leadership over the past few years.

With the shale gas boom becoming the central focus of the US chemical industry, company boards are focusing executives’ compensation packages on performance measurements, particularly against peers. Increased shareholder input, with shareholder say-on-pay initiatives, is also becoming more prevalant. Though the cyclical nature of the industry has been a challenge for rewarding truly differentiated performance as opposed to benefit or punishment determined by external, cyclical factors, more challenges are arising as the retirement of top-level executives leaves some talent gaps.

“In the last couple of years, things have pretty well stabilized as far as compensation management by the boards. It’s now really about performance of the company and leadership to get paid for performance, essentially,” says Jim Aslaksen, co–global sector leader/chemicals and senior client partner at Korn/Ferry International, an executive recruitment agency. “With the enhanced governance respective taken by boards, they want to make sure performance and compensation—for the executive team and into the organization, as well as short-term annual bonuses—are truly aligned with the company.”

This year’s report shows that the median increase for the 37 CEOs who held the same title in 2012 and 2011 was 19%, up from the 7.7% jump in 2011. Of the 43 total CEOs reported this year, only 5 have changed from 2011—showing a consistency in leadership over the past few years.

Of the 12 highest-paid executives, 8 are the same from 2011, with the same positions held for at least two years. Former 3M CEO George Buckley had held the number-one spot in 2011 but left the company in February 2012. His successor, Inge Thulin, former COO, of the company, takes the number-six spot this year. Of the 161 remaining named executive officers that also held positions in 2011, the average increase was 13%. The largest compensation jump, 205%, is for Karyn Ovelmen, executive v.p. and CFO of LyondellBasell Industries.

Companies set up comparisons with a family of companies that they consider to be relevant when reflecting their own performances, Aslaksen says. They then use that information against historic markets, stock performance comparisons, and a number of other metrics to determine compensation for top executives. Andrew Liveris of Dow Chemical was the top earner in 2012, and the company says his compensation reflects his “leadership in identifying the economic volatility early in 2012 and taking decisive action to mitigate conditions.” According to Dow’s executive compensation proxy filed with the SEC, Dow reduced $613 million of gross debt and increased dividends in 2012.

Liveris: Dow CEO, top earner rakes in $23 million.
Gallogly: $21 million for LyondellBasell CEO.
Bunch: PPG CEO makes $17.8 million.
Angel: $17.7 million for Praxair CEO.
Kullman: DuPont CEO makes $15.6 million.

“Dow believes in pay-for-performance, which we implement through an annual incentive award that includes objective performance criteria and through equity awards where the value realized is tied to our stock price performance, including shares that vest only if certain performance hurdles are satisfied,” Dow says in the proxy statement. “These performance components represent at least 80% of the direct compensation of [named executive officers].”

“Pay packages tend to be focused relative to the peer group and not necessarily to the economic [environment],” says Andy Talkington, a senior client partner at Korn/Ferry. “They are not measuring against the S&P 500 or broader industries; the trends aren’t there yet. It’s like a horse race: Companies are racing against those in [their] pack, not the best horse out there worldwide. Their peer group is the focus.”

LyondellBasell indictes in its proxy that three major areas—health, safety, and environmental performance; costs; and business results—were a focus when determining executive compensation. Though the company’s revenues fell by 6% in 2012, its Ebitda increased by 5%—thus persuading the compensation committee to approve increased remuneration. The company says 90% of shareholder votes supported the final determination. “We believe that targeting total compensation, as well as each component of total compensation, at a median level supports a high-performing culture. The design of our program allows for significant potential upside, but only in the case of superior performance,” LyondellBasell says in its proxy.

Although the way compensation is determined has not materially changed in the last few years, a more sustainable performance measurement has entered into the compensation scheme, Talkington says. Performance shares are becoming the focus, and say on pay—the right of shareholders to vote on remuneration of executives—is being practiced in more companies. Of the top 10 executives, 9 of their respective companies practice say on pay with their shareholders, with the 10th company requesting a vote from shareholders to help determine the pay of executives—though it is not binding and directly tied to the final determination.

“What say on pay has done is cause boards to focus on more consistent measurements and mixes of long-term compensation. Changing [compensation] for one thing or something else is going by the wayside pretty quickly,” Talkington says. “Say on pay from groups and shareholders is the way it’s going.”

Increased focus from the general public has also affected remuneration, though “it’s not specific to the chemical industry,” Talkington says. “The focus on the banking industry and compensation around the banking industry has heightened the focus [on executive compensation] and brightened the light on compensation in general on companies,” Talkington says. “The longer-term performance is the differential between the top executive and the bottom rung of ladder.”

The market for recruiting C-suite executives has been a difficult obstacle to overcome, and various incentives—such as compensation packages and longevity of career—are being used to recruit prospective executives to the chemical industry. The talent bench is not as deep as it once was, Aslaksen says.

“Because of demographics and the number of baby boomers reaching retirement age, we have succession issues in all organizations across the industry. The issue is that there is succession potentials in every company; an individual could move from one organization to another, but the numbers—and the academies of leadership training—are badly affected through economic issues and pure head-count, and the probability of someone emerging from an organization has been an issue,” Aslaksen says. “The other issue is the matrix aspect of organizations and the fact that people are long in their careers before getting through profit and loss responsibility. Couple that with the reduction in [expatriates] dropping off for economic reasons; they are all working against industry.”

To mitigate this issue, companies are beginning the recruitment process earlier—travelling to high schools, colleges, and tech schools—to demonstrate how attractive the industry can be, Talkington says. “Demographics created pretty big gaps in the leadership bench,” Talkington notes. “To mitigate the risk, [companies] identify the best talent and develop them as rapidly as possible.”

Growth is returning to the industry thanks to shale, but attractiveness is a separate factor. “The US was really stagnant-to-declining as the markets in the Middle East and Asia grew—but now it’s back with a very long supply: 50-plus years of shale gas, or maybe more... which speaks well for the US industry from a stability standpoint,” Talkington says.

The growing industry in North America will continue to help profits soar, driving up compensation—which industry hopes will attract new people. “There has been a tightness in the market over five years. This is stress on system, and supply/demand drives up compensation. This is made up with more bonus eligible positions,” Talkington says.

Methodology

CW has taken the compensation figures as reported in proxies or other public documents, as calculated by the companies to meet SEC requirements in the U.S. Rules for executive pay have been subject to the agency’s significantly enhanced disclosure requirements adopted in July 2006.

CW’s tables list salary; bonus; stock awards; option awards; non-equity incentive plan compensation; change in pension value and non-qualified deferred compensation; all other compensation; total compensation; and the year-over-year percentage change in total compensation. CW’s data was taken from each company’s summary compensation table, which sets out the total compensation paid to a company’s CEO, CFO and three other most highly compensated executive officers.

Firms must disclose a dollar value for all stock-based awards, including stock and stock options, measured at grant date fair value. As a result, CW no longer includes the net value of options realized during a given year in the total compensation figures, and it uses the reported dollar value of stock-based awards given during the year as reported to the SEC.

Cash and equivalent renumeration in dollars
Salary Bonus Stock awards Option awards Non-EQ Comp Change in pension All other 2012 Total YOY % change
Cash and equivalent renumeration in dollars
Salary Bonus Stock awards Option awards Non-EQ Comp Change in pension All other 2012 Total YOY % change
Aceto
Albert Eilender, CEO 625,961 0 101,869 31,500 615,638 0 87,029 1,461,997 11.9
Douglas Roth, CFO 310,918 0 42,213 12,600 238,177 0 63,031 666,939 -8.9
Salvatore Guccione, pres. and COO 245,192 0 267,950 152,060 122,310 0 36,619 824,131 NA
Ronald Gold, pres. & COO/Rising 425,000 0 38,550 12,600 179,006 0 51,347 706,503 163.8
Frank DeBenedittis s.v.p. 284,144 0 33,956 10,500 207,660 0 54,509 590,769 7.4
Air Products (fy ended 30 Sep 2012)
John McGlade, chairman, pres., and CEO 1,200,000 0 3,599,997 3,370,028 898,000 2,730,820 164,983 11,963,828 -11.6
Paul E. Huck, v.p. & CFO 685,972 0 899,850 842,496 359,000 1,159,302 21,431 3,968,051 -12.3
S.J. Jones, s.v.p. and gen. manager 546,743 0 539,871 482,801 327,000 622,573 948,587 3,467,575 28.0
John Stanley, s.v.p. and gen. counsel 457,321 80,000 949,798 402,341 232,000 963,782 14,500 3,099,742 19.7
John Marsland, s.v.p. and gen. manager 456,540 0 434,951 388,935 240,000 91,859 737,273 2,349,558 NA
Airgas (fy ended 31 Mar 2013)
Peter McCausland, chairman, pres., and CEO 900,000 270,000 0 2,517,504 900,000 0 25,848 4,613,352 -5.6
Robert McLaughlin, s.v.p. and CFO 436,980 0 0 572,160 225,000 0 5,160 1,239,300 1.1
Michael Molinini, e.v.p. and COO 683,105 0 0 915,456 490,000 0 3,928 2,092,489 1.9
B. Shaun Powers, division pres. 313,741 0 0 320,410 206,859 0 4,942 845,952 2.6
Robert Young, s.v.p. and gen. counsel 377,275 0 0 251,750 190,000 0 8,455 827,480 -4.8
Albemarle
Luther C. Kissam, CEO 800,000 0 1,818,850 1,180,000 314,000 2,310,151 126,285 6,549,286 41.0
John M. Steitz, pres. and COO**through 31 august 2012 389,667 0 892,890 580,000 0 0 104,122 1,966,679 -49.5
Scott A. Tozier, s.v.p. and CFO 418,750 0 436,524 290,000 100,000 0 145,642 1,390,916 -61.4
Karen G. Narwold, s.v.p. and gen. counsel 384,750 0 662,048 250,000 91,000 0 109,640 1,497,438 8.3
Matthew K. Juneau, v.p./polymer solutions 315,000 0 589,294 194,000 75,000 311,862 61,224 1,546,380 NA
Susan M. Kelliher, s.v.p./human resources 289,199 100,000 589,926 180,180 82,000 0 474,653 1,715,958 NA
Ashland (fy ended 30 Sep 2012)
James J. O’Brien, chairman and CEO 1,178,669 0 3,061,784 2,170,692 1,306,678 775,679 68,586 8,562,088 23.2
Lamar M. Chambers, s.v.p. and CFO 527,579 0 752,794 534,912 450,882 807,328 27,117 3,100,612 65.8
Peter J. Ganz s.v.p., gen. counsel 455,192 0 449,146 315,216 315,392 0 7,600 1,542,546 NA
John E. Panichella, s.v.p., pres./specialty ingredients 436,800 120,000 373,234 265,068 457,313 314,537 27,413 1,994,365 23.0
Theodore L. Harris, s.v.p., pres./performance materials 425,815 0 373,234 265,068 337,023 345,449 52,587 1,799,176 38.0
Axiall*
Paul D. Carrico, pres. and CEO 819,213 0 2,406,369 0 1,750,000 137,825 464,275 5,577,700 56.2
Gregory C. Thompson, CFO 487,971 0 717,699 0 654,000 134 282,910 2,142,714 41.4
Joseph Breunig, e.v.p./chemicals 499,423 0 696,565 0 671,000 0 149,944 2,016,932 59.4
Mark J. Orcutt, e.v.p./building products 539,835 0 548,811 0 544,000 133 240,657 1,873,436 30.7
Timothy Mann, e.v.p., gen. counsel, and secretary 186,350 0 913,850 0 525,200 0 2,185 1,627,585 NA
Cabot (fy ended 30 Sep 2012)
Patrick M. Prevost, pres. and CEO 967,500 0 2,312,991 1,295,110 1,333,000 161,497 257,754 6,327,852 -2.8
Eduardo Cordeiro, e.v.p. and CFO 453,750 0 562,593 315,021 376,000 108,304 115,689 1,931,357 15.8
David A. Miller, e.v.p. and gen. manager 382,500 0 500,068 280,020 297,000 44,507 95,579 1,599,674 3.6
Brian A. Berube, s.v.p. and gen. counsel 357,500 0 406,329 227,519 271,000 89,038 88,919 1,440,305 11.5
Sean D. Keohane, s.v.p. and gen. manager 365,000 0 468,822 262,520 305,000 68,771 95,161 1,565,274 19.8
Cabot Microelectronics (fy ended 30 Sep 2012)
William P. Noglows, pres. and CEO 574,750 465,000 891,440 1,064,309 0 0 110,381 3,105,880 -15.9
William S. Johnson, v.p. and CFO 351,750 184,200 365,022 420,886 0 0 37,610 1,359,468 -7.1
Daniel S. Wobby, v.p./global sales 318,575 122,000 314,583 333,806 0 0 46,381 1,135,345 -4.4
Adam F. Weisman, v.p./business operations 331,075 150,000 279,588 333,806 0 0 36,831 1,131,300 -6.3
H. Carol Bernstein, v.p., secretary and gen. counsel 318,625 141,300 247,172 295,104 0 0 42,956 1,045,157 -6.6
Calgon Carbon
Randall S. Dearth, pres. and CEO 222,708 0 265,655 235,000 40,000 NA 6,250 769,613 NA
John S. Stanik, Fmr pres. and CEO 320,833 0 424,877 212,440 0 72,501 167,782 1,198,433 -7.4
Stevan R. Schott, s.v.p. and CFO 265,000 0 100,005 49,999 37,500 NA 10,000 462,504 3.3
Robert P. O’Brien, e.v.p. and COO 356,667 0 197,999 98,998 45,000 118,327 10,000 826,991 20.6
C.H.S. (Kees) Majoor, fmr e.v.p./Europe and Asia 0 0 0 0 0 379,942 1,181,021 1,560,963 29.9
Richard D. Rose, s.v.p. and gen. counsel 269,350 0 86,200 43,096 32,000 NA 10,000 440,646 -4.4
Allan Singleton, v.p./Asia 236,103 0 20,004 9,998 11,029 179,070 144,713 600,917 45.0
Cambrex
Steven M. Klosk, pres. and CEO 500,000 0 498,400 571,224 1,000,000 60,127 11,250 2,641,001 40.5
Shawn P. Cavanagh, e.v.p. and COO 390,625 0 249,200 285,612 825,000 20,582 11,250 1,782,269 14.0
Gregory P. Sargen, e.v.p. and CFO 379,583 0 186,900 214,209 800,000 0 11,046 1,591,738 41.9
Aldo Magnini, managing director/Cambrex profarmaco 316,554 0 0 107,105 655,605 0 31,912 1,111,176 22.1
Paolo Russolo, pres./Cambrex profamaco 334,230 0 0 0 668,460 0 101,918 1,104,608 11.9
Celanese
Mark C. Rohr, chairman and CEO 750,000 0 4,687,452 562,499 0 12,000 117,466 6,129,397 NA
Steven M. Sterin, s.v.p. and CFO 559,615 0 0 0 0 12,000 14,808 586,423 -71.5
Douglas M. Madden, COO 675,000 0 0 0 0 3,769,000 37,153 4,481,153 -28.0
Gjon N. Nivica, s.v.p./gen. counsel 473,846 0 0 0 0 12,000 15,995 501,841 -72.8
Lori A. Johnston, s.v.p./human resources 99,231 301,000 1,849,976 849,996 0 4,000 52,488 3,156,691 NA
David N. Weidman, fmr chairman and CEO 228,462 0 2,975,193 948,102 0 571,000 45,030 4,767,787 -34.7
Jacquelyn H. Wolf, fmr s.v.p./human resources 351,154 0 0 0 0 12,000 726,856 1,090,010 -8.8
Compass Minerals
Richard S. Grant, interim CEO 0 0 0 0 0 0 4,839 4,839 NA
Angelo C. Brisimitzakis, fmr pres. and CEO 817,539 0 2,393,324 734,052 208,316 0 1,679,882 5,833,113 82.8
Rodney L. Underdown, v.p. and CFO 389,929 0 299,990 125,002 103,703 0 22,436 941,060 -4.3
Gerald J. Bucan, v.p. and gen. manager 307,002 0 254,959 99,992 70,251 0 19,717 751,921 -1.7
Keith E. Clark, v.p. and gen. manager 354,869 0 265,016 110,001 90,037 0 21,430 841,353 -1.9
David J. Goadby, v.p./strategic development 327,154 0 254,959 99,992 69,700 0 0 751,804 -59.4
Cytec Industries
Shane D. Fleming, chairman and CEO 870,000 0 434,596 991,418 2,776,800 151,818 188,038 5,412,670 -15.2
David M. Drillock, v.p. and CFO 437,081 0 134,987 407,020 961,768 928,944 128,366 2,998,166 21.6
Frank Aranzana, pres./coating resins 465,079 0 92,026 279,974 744,617 278,812 346,966 2,207,473 7.7
Roy Smith, v.p., gen. counsel, and secretary 388,846 0 95,004 285,111 724,510 164,577 117,233 1,775,281 0.8
William N. Avrin, v.p./corporate and business development 385,334 0 82,018 241,787 649,170 211,654 111,886 1,681,849 -6.6
Dow Chemical
Andrew Liveris, chairman and CEO 1,808,333 0 8,446,171 4,840,080 1,368,640 6,160,388 366,055 22,989,668 19.3
William Weideman, e.v.p. and CFO 836,815 0 2,408,410 1,380,079 407,001 3,465,782 29,469 8,527,557 15.9
Charles Kalil, e.v.p. 951,618 0 2,408,410 1,380,079 459,478 2,798,980 70,338 8,068,904 12.4
Carol Williams, e.v.p. 900,110 0 2,408,410 1,380,079 454,670 3,028,396 65,858 8,237,524 NA
James Fitterling, e.v.p. 836,636 35,518 2,408,410 1,380,079 424,879 2,853,921 53,243 7,992,687 NA
DuPont
Ellen Kullman, chairwoman & CEO 1,389,833 0 6,158,897 2,833,336 1,915,000 2,932,277 433,374 15,662,717 -1.7
Nicholas C. Fanandakis, e.v.p. and CFO 664,700 0 3,816,525 564,673 522,000 1,689,291 119,223 7,376,412 57.1
Thomas M. Connelly, e.v.p. and CIO 772,217 0 1,424,947 655,510 617,000 1,059,224 140,330 4,669,228 5.1
Mark P. Vergnano, e.v.p. 668,600 0 1,288,868 592,912 498,000 1,294,045 118,584 4,461,009 NA
James C. Borel, e.v.p. 674,217 0 1,227,525 564,673 510,000 1,395,403 130,375 4,502,193 2.9
Eastman Chemical
James P. Rogers, chairman and CEO 1,066,539 0 3,465,779 0 1,200,000 929,108 150,143 6,811,569 -43.4
Curtis E. Espeland, s.v.p. and CFO 525,577 0 1,041,400 0 420,000 325,404 53,779 2,366,160 -28.2
Mark J. Costa, e.v.p. 588,827 0 1,041,400 0 500,000 171,270 60,941 2,362,438 -28.3
Ronald C. Lindsay, e.v.p. 575,769 0 1,041,400 0 500,000 600,096 60,289 2,777,554 -27.7
Theresa K. Lee, s.v.p., chief legal officer 504,615 0 666,496 0 330,000 472,013 48,981 2,022,105 -29.9
Ecolab
Douglas M. Baker, chairman and CEO 1,050,000 0 2,956,325 2,711,830 1,950,000 3,037,398 161,199 11,866,752 15.9
Daniel J. Schmechel, CFO 394,167 0 345,259 315,780 311,000 266,132 194,089 1,826,427 NA
Thomas W. Handley, pres. and COO 520,000 0 788,674 722,970 564,000 590,368 76,121 3,262,133 24.6
Stephen M. Taylor, e.v.p. and pres./global energy 474,971 0 1,919,214 1,807,425 645,000 51,696 163,806 5,062,112 NA
Michael A. Hickey, e.v.p. and pes./global institutional 440,000 0 492,835 451,510 512,000 780,194 59,512 2,736,051 NA
Steven L. Fritze, fmr CFO 621,923 0 0 0 566,000 1,154,871 73,970 2,416,764 -29.1
FMC
Pierre Brondeau, pres., CEO, and chairman 1,000,000 0 1,410,769 1,416,072 3,362,484 0 432,775 7,622,100 25.2
Paul Graves, e.v.p. and CFO 150,000 0 1,390,506 0 131,940 0 18,230 1,690,676 NA
William K. Foster, fmr e.v.p. and CFO 629,555 0 325,965 327,189 1,035,936 644,581 260,747 3,223,973 14.5
Mark Douglas, pres./agricultural products group 461,400 0 215,723 216,559 663,755 0 97,128 1,654,565 NA
D. Michael Wilson, pres./specialty chemicals group 474,053 0 215,723 216,559 698,217 485,012 55,844 2,145,408 23.8
Andrea Utecht, e.v.p., gen. counsel, and secretary 423,823 0 198,587 199,380 693,462 340,728 51,725 1,907,705 13.2
Milton Steele, fmr pres./agricultural products 542,650 0 234,382 235,280 956,047 748,623 174,089 2,891,071 10.6
H.B. Fuller
James J. Owens, pres. and CEO 740,000 250,000 893,805 889,090 854,371 841 335,881 3,963,988 42.1
James R. Giertz, s.v.p. and CFO 490,473 0 327,736 325,995 317,149 880 162,736 1,624,969 11.5
Patrick J. Trippel, s.v.p./construction materials 419,356 125,000 297,916 296,359 251,517 0 108,374 1,498,522 32.3
Steven Kenny, s.v.p./EMEA and India 395,707 0 297,916 296,359 217,569 0 65,418 1,272,969 13.9
Ann B. Parriott, v.p./human resources 357,344 0 178,750 177,816 190,021 48,474 102,860 1,063,265 8.3
Huntsman
Jon M. Huntsman, exec. chairman 1,200,000 0 2,000,000 0 6,494,000 1,434,056 274,343 11,402,399 30.4
Peter R. Huntsman, pres. and CEO 1,575,000 0 2,500,000 2,500,000 4,000,600 2,581,548 637,952 13,795,100 35.7
J. Kimo Esplin, e.v.p. and CFO 587,975 0 500,000 500,000 594,100 438,697 140,481 2,761,253 20.6
Anthony P. Hankins, CEO/Asia-Pacific 766,875 0 375,000 375,000 848,200 188,703 445,779 2,999,557 -40.6
Simon Turner, pres./pigments 489,689 0 400,000 400,000 357,281 2,988,544 121,426 4,756,940 101.4
IFF
Douglas D. Tough, chairman and CEO 1,200,000 0 3,158,257 0 3,451,664 0 387,697 8,197,618 68.2
Kevin C. Berryman, e.v.p. and CFO 511,458 0 800,623 82,580 896,236 0 180,255 2,471,152 56.9
Nicolas Mirzayantz, pres./fragrances 504,583 0 824,602 0 873,518 201,264 161,201 2,565,168 32.4
Hernan Vaisman, pres./flavors 511,458 0 393,434 206,449 907,677 0 88,300 2,107,318 25.9
Anne Chwat, s.v.p. & gen. counsel 450,000 22,500 554,769 0 540,003 0 200,243 1,767,515 15.8
Innospec
Patrick S. Williams, pres. and CEO 830,143 0 0 798,021 7,283,070 0 87,190 8,998,424 235.9
Ian P. Cleminson, e.v.p. and CFO 314,944 289,433 25,533 189,900 268,796 0 97,434 1,186,040 47.3
Philip J. Boon, e.v.p./business operations 284,797 377,333 0 169,684 197,429 222,548 91,788 1,343,579 73.3
Ian McRobbie, s.v.p./research and technology 248,975 202,400 0 150,742 212,326 137,050 79,164 1,030,657 39.7
Brian R. Watt, v.p./strategic planning and regulatory affairs 240,779 202,400 19,300 182,059 205,971 0 71,524 922,033 49.9
Kronos
Harold C. Simmons, chairman 1,028,000 0 10,160 0 0 0 0 1,038,160 -1.4
Steven L. Watson, vice chairman and CEO 1,022,100 0 10,160 0 0 0 0 1,032,260 -0.2
Robert D. Graham, e.v.p. and chief admin officer 985,300 0 0 0 0 0 0 985,300 NA
Klemens Schlüter, pres./manufacturing and technology 336,550 386,280 0 0 0 132,562 16,574 871,966 NA
Gregory Swalwell, e.v.p. and CFO 404,600 0 0 0 0 0 0 404,600 70.6
LyondellBasell Industries
James L. Gallogly, CEO 1,500,000 0 7,796,721 0 57,000,000 13,284 6,232,922 21,242,927 -9.5
Karyn F. Ovelmen, e.v.p. and CFO 715,750 0 1,135,092 863,335 943,352 11,039 188,625 3,857,193 204.5
Craig B. Glidden, e.v.p. and CLO 610,332 0 997,796 0 1,596,856 12,654 355,829 3,573,467 49.1
Kevin W. Brown, s.v.p./refining 468,791 0 674,927 0 1,027,728 12,530 233,257 2,417,233 42.5
Bob V. Patel, s.v.p./O&P-EAI and technology 524,172 0 481,915 0 1,252,843 11,291 463,336 2,733,557 34.8
3M
Inge G. Thulin, chairman and CEO 1,228,373 0 4,000,053 3,059,772 1,994,865 3,977,742 523,671 14,784,476 175.8
George W. Buckley, fmr chairman and CEO 758,013 0 4,250,062 0 1,113,568 1,225,830 578,202 7,925,675 -68.8
David W. Meline, s.v.p. and CFO 657,107 0 1,278,001 845,156 786,146 253,079 79,520 3,899,009 9.8
Ivan K. Fong, s.v.p./legal affairs and gen. counsel 141,087 500,000 1,955,702 784,229 101,321 0 15,851 3,498,190 NA
Hak Cheoi Shin, e.v.p./international operations 637,000 0 753,024 771,668 434,859 624,074 104,466 3,325,091 -22.7
Brad T. Sauer, e.v.p./industrial bsuiness 598,490 0 753,024 641,160 586,793 468,961 112,946 3,161,374 NA
Minerals Technologies
Joseph C. Muscari, exec. chairman and fmr CEO 900,000 0 1,397,767 711,623 3,130,740 92,700 837,314 7,070,512 15.5
Douglas T. Dietrich, s.v.p./finance and treasury and CFO 385,077 0 393,737 195,972 623,550 25,800 25,432 1,649,568 25.4
Daniel J. Monagle, s.v.p. and managing director/paper PCC 386,923 0 431,990 219,825 787,840 30,300 27,092 1,883,970 24.0
Thomas J. Meek, s.v.p. and gen. counsel 382,539 0 360,949 183,713 793,900 29,700 28,617 1,779,418 41.0
Douglas W. Mayger, s.v.p./ performance minerals 356,923 0 256,980 131,435 545,700 30,100 27,731 1,348,869 20.1
Monsanto (fy ended 31 Aug 2012)
Hugh Grant, chairman and CEO 1,432,936 0 1,875,060 4,121,618 5,000,000 1,247,920 548,072 14,225,606 23.0
Pierre C. Courduroux, s.v.p. & CFO 517,500 0 375,072 824,411 975,000 178,215 76,061 2,946,259 80.0
Brett. D. Begemann, pres. & CCO 590,162 0 475,066 1,044,269 1,300,000 559,371 86,371 4,055,239 -28.6
Robert T. Fraley, e.v.p. and CTO 624,711 0 625,020 1,373,946 1,200,000 675,540 118,435 4,617,652 -34.4
David F. Snively, e.v.p., secretary, and gen. counsel 530,800 0 375,072 824,411 975,000 359,743 83,708 3,148,734 -34.5
Mosaic (fy ended 31 may 2012)
James T. Prokopanko, pres. and CEO 1,033,333 0 4,933,330 1,466,668 1,470,000 0 512,293 9,415,624 22.9
Lawrence W. Stranghoener, e.v.p. and CFO 606,667 0 2,866,641 433,347 516,600 0 203,309 4,626,564 40.3
James C. O’Rourke, e.v.p./operations and COO 625,000 0 2,999,972 500,004 533,400 0 230,245 4,888,621 75.1
Richard L. Mack, e.v.p., gen. counsel, and secretary 490,000 0 2,666,647 333,346 392,000 50,000 131,935 4,063,928 50.7
Richard N. McLellan, s.v.p./commercial 406,667 0 1,399,989 200,002 305,760 0 134,443 2,446,861 40.3
Newmarket
Thomas E. Gottwald, pres. and CEO 866,667 725,000 101,241 0 0 814,868 43,333 2,551,109 17.6
David A. Fiorenza, v.p. and CFO 317,142 210,000 50,621 0 0 443,765 15,857 1,037,385 5.1
C.S. Warren Huang, pres./Afton chemical 665,000 625,000 101,241 0 0 1,264,365 33,250 2,688,856 7.5
Steven M. Edmonds, v.p. and gen. counsel 359,100 330,000 50,621 0 0 240,756 17,955 998,432 12.4
Bruce R. Hazelgrove, v.p./corporate resources 335,633 330,000 50,621 0 0 256,477 16,781 989,512 14.0
Omnova Solutions
Kevin M. McMullen, chairman and CEO 776,596 0 1,898,962 0 1,448,575 506,955 75,638 4,706,726 36.5
Michael E. Hicks, s.v.p. and CFO 392,500 0 299,205 0 448,607 429,386 18,803 1,588,501 77.3
James J. Hohman, v.p., pres./performance chemicals 362,046 0 275,807 0 375,273 192,908 18,918 1,224,952 43.4
James C. LeMay, s.v.p./corporate development and gen. counsel 354,354 0 270,050 0 404,985 234,705 17,144 1,281,238 63.3
Jay T. Austin v.p./global sourcing and logistics 274,671 0 218,111 0 327,763 0 14,577 835,122 30.2
PolyOne
Stephen Newlin, chairman & CEO 978,846 0 1,519,440 1,611,627 4,081,699 1,273,625 336,808 9,802,045 16.2
Robert M. Patterson, e.v.p. and COO 513,461 0 318,498 338,997 1,071,941 0 107,419 2,350,317 14.0
Richard J. Diemer, s.v.p. and CFO 339,635 0 537,100 185,500 381,885 0 109,706 1,553,826 NA
Kenneth M. Smith, s.v.p., CIO, and human resources officer 359,615 0 151,944 161,857 612,645 249,773 84,186 1,620,021 10.0
Thomas J. Kedrowski, e.v.p./ global operations 350,615 0 151,944 161,857 593,368 0 64,329 1,322,114 3.7
PPG Industries
Charles E. Bunch, chairman and CEO 1,280,000 0 5,066,681 2,533,602 4,000,000 4,415,749 595,511 17,891,543 24.9
David B. Navikas, s.v.p./finance and CFO 544,167 0 666,659 333,370 918,000 679,755 59,888 3,201,839 -14.6
J. Rich Alexander, e.v.p. 619,167 0 973,371 486,719 740,000 1,035,028 108,678 3,962,963 5.8
Pierre Marie De Leener, e.v.p. 511,667 0 1,387,871 486,719 0 0 890,628 3,276,885 12.4
Michael H. McGarry, e.v.p. 442,500 0 716,317 357,762 720,000 691,111 72,387 3,000,077 32.9
Viktoras R. Sekmakas, e.v.p. 442,500 0 716,317 357,762 700,000 292,755 57,544 2,566,878 NA
Praxair
Stephen F. Angel, chairman, pres., and CEO 1,190,000 0 4,126,484 4,130,694 2,365,234 5,807,000 161,783 17,781,195 -4.6
James S. Sawyer, e.v.p. and CFO 608,500 0 937,743 938,842 609,559 1,529,000 21,963 4,645,607 -11.1
Scott E. Telesz, e.v.p. 542,000 0 2,405,257 751,091 537,198 51,000 38,945 4,325,491 47.7
Eduardo F. Menezes. e.v.p. 493,750 0 750,504 751,091 511,634 2,062,000 18,516 4,587,495 0.6
James T. Breedlove, s.v.p., gen. counsel, and secretary 501,250 0 629,805 630,406 488,839 319,000 24,629 2,593,929 NA
Quaker Chemical
Michael F. Barry, chairman and CEO 609,375 0 266,681 266,598 843,438 1,461,000 49,288 3,496,380 20.7
Mark A. Featherstone, fmr v.p., CFO, and treasurer 132,755 0 44,650 44,619 0 1,000 167,835 390,859 -31.4
Margaret M. Loebl, v.p., CFO, and treasurer 166,269 0 275,689 44,628 127,050 0 106,636 720,272 NA
D. Jeffry Benoliel, v.p./global metalworking and corporate secretary 315,450 0 44,650 44,619 184,939 447,000 19,722 1,056,380 20.6
Jan F. Newman, v.p. and managing director/Asia/Pacific 293,862 0 44,650 44,619 177,653 410,405 342,398 1,313,587 26.0
Wilbert Platzer, v.p. and managing director/EMEA 333,787 0 44,650 44,619 165,045 557,251 31,722 1,177,074 40.2
Rockwood Holdings
Seifi Ghasemi, chairman and CEO 1,100,000 0 3,137,373 0 0 0 862,946 5,100,319 -50.0
Robert J. Zatta, s.v.p. and CFO 473,800 0 840,405 0 0 0 203,704 1,517,909 -45.7
Thomas J. Riordan, s.v.p./law and admin 412,000 0 840,405 0 0 0 192,392 1,444,797 -42.4
RPM International (fy ended 31 May 2012)
Frank C. Sullivan, chairman and CEO 875,000 0 4,469,608 992,000 1,100,000 117,936 109,320 7,663,864 11.1
Ronald A. Rice, pres. and COO 650,000 0 1,185,685 496,000 800,000 95,597 96,108 3,323,390 -43.0
Paul G. Hoogenboom, s.v.p./manufacturing and CIO 370,000 0 514,451 148,800 475,000 84,354 51,975 1,644,580 -41.4
Robert L. Matejka, s.v.p. and CFO 350,000 0 0 0 800,000 34,563 31,043 1,215,606 4.5
Edward W. Moore, v.p. and gen. counsel 260,000 0 296,173 99,200 175,000 48,210 54,374 932,957 -17.1
Russell L. Gordon, v.p. and CFO 235,000 0 310,222 99,200 175,000 75,264 35,540 930,226 NA
Sensient Technologies
Kenneth P. Manning, chairman and CEO 1,035,400 0 3,240,000 0 1,364,140 630,000 223,730 6,493,270 -23.5
Paul Manning, pres. and COO 362,548 0 900,000 0 389,608 1,944,000 58,922 3,655,078 159.5
Richard F. Hobbs, s.v.p. and CFO 522,200 0 1,440,000 0 526,117 227,000 99,137 2,814,454 -22.3
John L. Hammond, s.v.p., gen. counsel, and secretary 372,700 0 1,080,000 0 375,495 162,000 73,334 2,063,529 -42.8
Stephen J. Rolfs, v.p./administration 352,200 0 792,000 0 354,842 400,000 63,825 1,962,867 -18.2
Sherwin Williams
Chris M. Connor, chairman and CEO 1,221,987 0 3,697,866 3,302,040 2,300,000 0 460,140 10,982,033 34.7
John G. Morikis, pres. and COO 797,370 0 1,232,622 1,023,632 1,072,000 0 220,675 4,346,299 29.4
Sean P. Hennessy, s.v.p./finance and CFO 601,388 0 844,943 693,428 809,000 0 236,345 3,185,104 29.0
Steven J. Oberfeld, s.v.p./corporate planning & development 548,850 0 556,668 495,306 590,000 0 141,214 2,332,038 14.1
Thomas W. Seitz, s.v.p./corporate planning 521,680 0 554,614 704,310 528,000 0 116,051 2,424,655 5.6
Robert J. Davisson, pres./paint stores 452,992 0 556,668 495,306 494,000 0 318,293 2,317,259 12.0
Sigma Aldrich
Rakesh Sachdev, pres. and CEO 792,308 0 1,577,620 1,446,120 656,800 10,856 101,718 4,585,422 17.1
Jan A. Bertsch, e.v.p., CFO, and treasurer 372,115 40,000 1,293,457 1,161,120 200,119 8,254 93,619 3,168,684 NA
Kirk A. Richter, fmr v.p., treasurer, and interim CFO 195,385 0 162,782 150,174 98,520 106,955 36,291 750,107 -19.8
Franklin D. Wicks, e.v.p. and pres./applied 422,769 0 434,563 398,610 228,736 81,431 52,400 1,618,509 -14.8
Gilles A. Cottier, e.v.p. and pres./SAFC commercial 372,385 0 434,563 398,610 119,925 36,670 48,684 1,410,837 -21.2
George L. Miller, s.v.p., gen. counsel, and secretary 348,462 0 190,032 174,276 129,308 9,848 47,970 899,896 NA
Stepan
F. Quinn Stepan, pres. and CEO 736,667 0 363,837 580,516 759,886 240,963 104,259 2,786,128 33.4
James E. Hurlbutt, v.p. and CFO 321,417 0 90,734 64,411 157,404 110,540 39,707 784,213 22.9
John V. Venegoni, v.p. and gen. manager/surfactants 401,833 0 195,308 138,499 235,814 159,009 50,856 1,181,319 41.1
F. Quinn Stepan, chairman 500,000 0 0 0 384,510 121,461 80,365 1,086,336 33.4
Scott C. Mason, v.p./supply chain 313,083 0 143,635 101,864 121,567 NA 40,811 720,960 13.2
Valspar (fy ended 31 oct 2012)
Gary E. Hendrickson, chairman and CEO 858,269 0 1,875,000 1,903,197 1,760,739 0 456,258 6,853,463 -22.0
Lori A. Walker, s.v.p. and CFO 476,150 0 531,250 424,272 622,280 0 158,348 212,300 -88.4
Rolf Engh, e.v.p., gen. counsel, and secretary 447,050 0 451,876 340,857 542,808 0 153,651 1,936,242 12.6
Anthony L. Blaine, s.v.p./human resources 337,662 0 310,626 234,281 378,249 0 115,198 1,376,016 15.2
Cynthia A. Arnold, s.v.p. and CTO 343,885 0 187,500 164,951 385,220 0 22,232 1,103,788 NA
Westlake Chemical
Albert Chao, pres. and CEO 862,500 0 720,188 720,188 3,121,587 0 233,583 5,658,046 59.8
James Chao, chairman 690,500 0 576,150 576,150 2,200,595 0 184,180 4,227,575 63.2
M. Steven Bender, s.v.p., CFO and treasurer 423,333 0 196,800 196,800 883,206 0 110,855 1,810,994 53.3
Jeffrey L. Taylor, s.v.p./PE 344,167 0 109,154 109,154 635,830 0 72,430 1,270,735 32.7
Donald M. Condon, fmr s.v.p. 344,167 0 113,900 113,900 613,552 0 71,592 1,257,111 34.3
W.R. Grace
Alfred E. Festa, chairman and CEO 975,000 0 0 2,381,400 2,348,235 798,000 155,560 6,658,195 -28.9
Hudson La Force, s.v.p. and CFO 430,000 0 0 587,990 609,277 170,000 53,275 1,850,542 -14.3
Gregory E. Poling, pres. and COO 550,000 0 0 1,190,700 813,146 1,222,000 70,375 3,846,221 3.9
Andrew Bonham, v.p. and pres./construction products 410,000 0 0 477,740 610,357 247,000 47,731 1,792,828 -18.7
Mark Shelnitz, v.p. & gen. counsel 375,000 0 0 396,900 468,373 571,000 41,875 1,853,148 -9.9
*Formerly Georgia Pacific.
Top-12 total compensations 2012
Executive Company 2012 compensation
Andrew Liveris, chairman and CEO Dow Chemical $22,989,668
James L. Gallogly, CEO LyondellBasell 21,242,927
Charles E. Bunch, chairman and CEO PPG Industries 17,891,543
Stephen F. Angel, chairman, president, & CEO Praxair 17,781,195
Ellen J. Kullman, chairwoman and CEO DuPont 15,662,717
Inge G. Thulin, chairman, president, & CEO 3M 14,784,476
Hugh Grant, chairman and CEO Monsanto 14,225,606
Peter R. Huntsman, president, CEO, & director Huntsman 13,795,100
John E. McGlade, chairman, president, & CEO Air Products 11,963,828
Douglas M. Baker, chairman and CEO Ecolab 11,866,752
Jon M. Huntsman, executive board chairman Huntsman 11,402,399
Chris M. Connor, chairman and CEO Sherwin Williams 10,982,033
Source: Company reports













 
contact us | about us | customer care | privacy policy | sitemap | advertise

ihsCopyright © 2012 IHS, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.

North Asia Russia Southeast Asia China India/Pakistan Middle East Eastern Europe Western Europe Central America Canada USA Australia/New Zealand South America Africa