PUBLIC RECORD

When running a business, having a clear roadmap is critical to the future growth and development of your company. But why do most business plans fail? Jerry Jendusa, Co-Founder of STUCK LLC will lead this interactive program designed to help you create a more informed, agile and engaging strategic plan. Thursday, April 16 7:30 AM - 9:30 AM Brookfield Conference Center - 325 S. Moorland Rd. - Brookfield, WI 53005

Register at mmac.org/calendar.html

Advertise in these upcoming special reports and get your message in front of area business executives.

Diversity & inclusion

April 13, 2020 Space Reservation: March 25, 2020

Business in Washington County April 27, 2020 Space Reservation: April 8, 2020

Contact Linda Crawford today! Phone: 414.336.7112 Email: advertise@biztimes.com

THE

PUBLIC RECORD

Which southeastern Wisconsin companies pay board directors the most?

By Arthur Thomas, staff writer

Berkshire Hathaway chairman Warren Buffett called attention to the growing compensation of board directors in his annual shareholder letter. “Director compensation has now soared to a level that inevitably makes pay a subconscious factor affecting the behavior of many nonwealthy members,” Buffett noted.

He pointed out that as a director of Portland Gas Light in the 1960s he made $100 annually while directors now making $250,000 to $300,000 “for board meetings consuming a pleasant couple of days six or so times a year” now make three to four times the median annual household income in the U.S.

Buffett did note the work of directors has become more complicated, but also pointed out that directors often don’t have incentives to challenge chief executive officers and company leadership.

“When seeking directors, CEOs don’t look for pit bulls,” Buffett wrote. “It’s the cocker spaniel that gets taken home.”

Among southeastern Wisconsin companies tracked by BizTimes Milwaukee, annual director compensation – comprised of cash and stock – ranges from $28,500 on the low end at Koss Corp., to $415,000 for the highest paid Fiserv Inc. director.

On average, the lowest paid director at the 33 companies with available data makes $181,747 for board service. The average highest paid director makes $251,351 annually.

Below is a list of area companies with the highest director compensations. n

Southeastern Wisconsin Public Company Director Compensation

Company Low High Fiserv 285,037 415,037 Enerpac Tool Group 280,008 402,061 Kohl's Corp. 243,750 394,989 MGIC Investment 263,000 355,000 ManpowerGroup 275,000 345,102 Harley-Davidson 235,000 343,477 Johnson Controls 275,000 330,000 Modine Manufacturing Co. 208,745 318,746 Snap-on Inc. 231,308 300,563 Associated Banc-Corp 195,000 296,500 Manitowoc Company Inc. 100,232 290,187 Rockwell Automation 252,305 288,223 Physicians Realty Trust 160,000 286,169