EXECUTIVE COMPENSATION — ROLLING IN DOUGH

EVER WONDER about the heft of the paychecks top executives in the printing industry haul in? This is your chance to see what the top money earners are taking to the bank. Printing Impressions’ 17th annual executive compensation report highlights the industry’s top earners at the largest publicly held printing companies.

Mark Angelson, CEO of Chicago-based RR Donnelley, again ranks first in annual salary for this list, earning more than $5 million. This is the fourth consecutive year that a RR Donnelley exec has topped our list.

The rankings indicate previous fiscal year salaries, most recent fiscal year wages, and the percentage change in compensation from the two fiscal years that are shown.

While some executives like Timothy Tuff of John H. Harland Co. and Multi-Color Corp.’s Francis Gerace enjoyed healthy income gains, Ronald Eilers from Deluxe Corp. and Arthur Hershaft of Paxar Corp. saw their annual salaries decline.

Interestingly, Marshall Reynolds, chairman and CEO of Champion Industries (who is not included on this report), claims an annual salary of just $1.

Also notable is that the salary total for Robert Burton, chairman and CEO of Cenveo Inc., (number 18) only includes earnings for a portion of the company’s most recent fiscal year.

This information is derived directly from the most recent proxy statements of publicly held U.S. and Canadian (where available) printing firms. PRINTING IMPRESSIONS used base salaries, bonuses and other annual compensation to establish pay levels.

We do not include any stock options, which may or may not have been exercised, or LTIP payouts. Note that this long-term compensation might increase total yearly earnings greatly. PI

1 MARK A. ANGELSON, 54
CEO RR Donnelley, Chicago
Salary + Bonus: $5,000,000
Other Compensation: $75,642
Total: $5,075,642
Previous Year Total: $4,123,225
Percentage Change: 23%

2 TIMOTHY C. TUFF, 58
Chairman, President and CEO John H. Harland Co., Atlanta
Salary + Bonus: $1,950,000
Other Compensation: $520,289
Total: $2,470,289
Previous Year Total: $1,224,531
Percentage Change: 102%

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