2004 Executive Compensation — Hitting the Jackpot

These are the industry’s high rollers—printing’s version of the The Forbes 400 list of wealthiest people. Printing Impressions’ 15th annual executive compensation report shows what the top industry execs take home, by highlighting the industry’s top money earners at publicly held printing companies.

Mark Angelson, CEO of Chicago-based RR Donnelley, ranks first in annual salary for this year’s list, earning more than $3 million. This is the second 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 Keith Walters of DeSoto, TX-based Ennis Business Forms, cashed in, seeing their total annual compensation go up several hundred thousand dollars, others, like Paul Reilly of Cenveo Inc., in Englewood, CO, saw their annual salaries decline in the past year. A variety of factors may have altered these salary totals.

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 and listed cash bonuses to establish compensation levels. We do not include any stock options, which may or may not have been exercised, or stock payouts. Note that these options may increase total yearly earnings greatly.

1) MARK A. ANGELSON, 52

CEO

RR Donnelley, Chicago

Salary + Bonus: $3,000,000

Other Compensation: $57,271

Total: $3,057,271

Previous Year Total: —

Percentage Change: —

2) PIERRE KARL PELADEAU

President and CEO

Quebecor World, Montreal

(C= Canadian $$)

Salary + Bonus: C$2,454,305

Other Compensation: C$176,002

Total: C$2,630,307

Previous Year Total: C$1,441,805

Percentage Change: 82%

3) ALAN F. SCHULTZ, 45

CEO, President and Director

Valassis Communications,

Livonia, MI

Salary + Bonus: $1,287,415

Other Compensation: $12,400

Total: $1,299,815

Previous Year Total: $1,276,200

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