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Executive Compensation--Changing of the Guard

December 1999
It is only appropriate that change is in the air for the printing industry, with a new millennium and workflow-altering technologies banging down the door. Not-so-subtle changes are already evident in Printing Impressions' 10th annual executive compensation report, which showcases 20 of the industry's highest paid executives at publicly held printing companies.

A new executive adorns the top of the list in the form of Marc P. Shore, chairman and CEO of New York-based Shorewood Packaging. He replaces David A. Brandon, former CEO, president and director at Livonia, MI-based Valassis Communications.
Shore received $1,893,000 in salary and bonus, plus $149,625 in other compensation for a total of $2,042,625. At 45, he is the second youngest executive on the list and was ranked sixth at $1,251,125 the previous year.
This survey is derived directly from the most recent proxy statements of publicly held U.S. and Canadian printing firms. Printing Impressions uses base salaries and listed cash bonuses to tabulate compensation levels. We do not include any stock options, which may or may not have been exercised. These options may increase earnings greatly.

1. Marc P. Shore, 45
Chairman and CEO
Shorewood Packaging, New York
Salary + Bonus: $1,893,000
Other Compensation: $149,625
Total: $2,042,625
Previous Year Total: $1,251,125
Percentage Change: 63.26%

2. John A. Blanchard, 56
President and CEO
Deluxe Corp., St. Paul, MN
Salary + Bonus: $1,800,000
Other Compensation: $92,899
Total: $1,892,899
Previous Year Total: $1,306,295
Percentage Change: 44.9%

3. William L. Davis, 55
Chairman and CEO
R.R. Donnelley & Sons, Chicago
Salary + Bonus: $1,700,000
Other Compensation: $170,293
Total: $1,870,293
Previous Year Total: $5,062,105
Percentage Change: -63.05%

4. Peter S. Redding, 60
President and CEO
Standard Register, Dayton, OH
Salary + Bonus: $1,407,941
Other Compensation: $1,000
Total: $1,408,941
Previous Year Total: $1,544,224
Percentage Change: -8.76%

5. Charles G. Cavell, 58
President and CEO
Quebecor World, Montreal: (C=Canadian $$)
Salary + Bonus: C$1,304,306
Other Compensation: C$59,473
Total: C$1,363,779
Previous Year Total: C$1,130,070
Percentage Change: 20.68%

6. David R. Holmes, 58
Chairman, President and CEO
Reynolds & Reynolds, Kettering, OH
Salary + Bonus: $1,097,661
Other Compensation: $45,121
Total: $1,142,782
Previous Year Total: $801,795
Percentage Change: 42.52%

7. Robert C. Buhrmaster, 52
Chairman, President and CEO
Jostens Inc., Minneapolis
Salary + Bonus: $824,000
Other Compensation: $286,344
Total: $1,110,344
Previous Year Total: $634,534
Percentage Change: 74.98%

8. Edward T. Reilly, 52
President and CEO
Big Flower Holdings, New York
Salary + Bonus: $1,045,000
Other Compensation: ——:
Total: $1,045,000
Previous Year Total: $1,119,908
Percentage Change: -6.69%

9. John Castro, 50
President and CEO
Merrill Corp., St. Paul, MN
Salary + Bonus: $985,375
Other Compensation: $47,504
Total: $1,032,879
Previous Year Total: $1,184,824
Percentage Change: -12.82%

10. Robert J. Cronin, 54
Chairman and CEO
Wallace Computer Services, Lisle, IL
 

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