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Executive Compensation -- Printing's Power Players

December 2003
Unlike some professional sports, the printing industry seemingly has no salary cap when it comes to paying its top executives. Printing Impressions' 14th annual executive compensation report shows this, while highlighting the industry's top money earners at publicly held printing companies.

William Davis (who plans to retire), chairman, president and CEO of Chicago-based RR Donnelley, tops this year's list, taking home more than $1.4 million, which is actually down from his salary last year.

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 Bruce Thomas of Cadmus Communications, scored when their total compensation went up several hundred thousand dollars, others, like Dennis Rediker of Standard Register, saw their annual salary get clipped. Interestingly, we found that Champion Industries' Marshall Reynolds takes a salary of just $1.

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) WILLIAM L. DAVIS, 59

Chairman, President and CEO

RR Donnelley, Chicago

Salary + Bonus: $900,000

Other Compensation: $556,671

Total: $1,456,671

Previous Year Total: $1,519,715

Percentage Change: -4%

2) ALAN F. SCHULTZ, 44

CEO, President and Director

Valassis Communications, Livonia, MI

Salary + Bonus: $1,260,000

Other Compensation: $16,200

Total: $1,276,200

Previous Year Total: $1,074,380

Percentage Change: 19%

3) CHARLES G. CAVELL, 62

Former President and CEO

Quebecor World, Montreal

Salary + Bonus: C$1,250,000 (C= Canadian $$)

Other Compensation: n/a

Total: C$1,250,000

Previous Year Total: C$1,222,352

Percentage Change: 2%

4) TIMOTHY C. TUFF, 55

Chairman, President and CEO

John H. Harland Co., Atlanta

Salary + Bonus: $1,105,000

Other Compensation: $92,174

Total: $1,197,174

Previous Year Total: $960,222

Percentage Change: 25%

5) REMI MARCOUX

Chairman and CEO

GTC Transcontinental Group, Montreal

Salary + Bonus: C$1,028,365 (C= Canadian $$)

Other Compensation: n/a

Total: C$1,028,365

Previous Year Total: C$922,322

Percentage Change: 11%

6) THOMAS W. OLIVA

President and COO

Moore Corp., Mississauga, Ontario

Salary + Bonus: $837,583

Other Compensation: $78,911

Total: $916,494

Previous Year Total: $636,237

Percentage Change: 44%

7) STEPHANIE A. STREETER, 45

President and CEO

Banta Corp., Menasha, WI

Salary + Bonus: $844,718

Other Compensation: $4,000

Total: $848,718

Previous Year Total: 666,647

Percentage Change: 27%

8) PAUL V. REILLY, 50

President and CEO

Mail-Well Inc., Englewood, CO

Salary + Bonus: $771,231

Other Compensation: n/a

Total: $771,231

Previous Year Total: $586,732

Percentage Change: 31%

9) JAMES F. CONWAY III, 50

Chairman, President and CEO

Courier Corp., N. Chelmsford, MA

Salary + Bonus: $660,000

Other Compensation: $47,405

Total: $707,405

Previous Year Total: $607,012

Percentage Change: 17%

10) DENNIS L. REDIKER, 59

President and CEO

Standard Register, Dayton, OH

Salary + Bonus: $699,423

Other Compensation: $5,500

Total: $704,923

Previous Year Total: $1,211,025

Percentage Change: -42%

11) BRUCE V. THOMAS, 47

President and CEO

Cadmus Communications, Richmond, VA

Salary + Bonus: $695,000

Other Compensation: $4,452

Total: $699,452

Previous Year Total: $408,047

Percentage Change: 71%

12) MARSHALL SOROKWASZ, 59

Chairman, President, CEO and Treasurer

Impreso Inc., Coppell, TX

Salary + Bonus: $503,488

Other Compensation: $186,439

Total: $689,927

Previous Year Total: $661,213

Percentage Change: 4%

13) ROBERT J. MURRAY, 62

Chairman and CEO

New England Business Service, Groton, MA

Salary + Bonus: $594,049

Other Compensation: $85,100

Total: $679,149

Previous Year Total: $697,003

Percentage Change: -3%

14) KEITH S. WALTERS, 53

Chairman, President and CEO

Ennis Business Forms, DeSoto, TX

Salary + Bonus: $551,433

Other Compensation: $12,420

Total: $563,853

Previous Year Total: $612,462

Percentage Change: -8%

15) ROBERT M. JOHNSON, 57

Chairman and CEO

Bowne & Co., New York

Salary + Bonus: $550,000

Other Compensation: $7,484

Total: $557,484

Previous Year Total: $555,059

Percentage Change: —

16) CLIFF O. BICKELL

President, Printed Products Div.

Scientific Games, Alpharetta, GA

Salary + Bonus: $431,251

Other Compensation: $6,276

Total: $437,527

Previous Year Total: $345,333

Percentage Change: 27%

17) JOE R. DAVIS, 60

Chairman and CEO

Consolidated Graphics, Houston

Salary + Bonus: $400,000

Other Compensation: n/a

Total: $400,000

Previous Year Total: $400,000

Percentage Change: —

18) JOSEPH J. BAKSHA, 51

President and COO

Outlook Group, Neenah, WI

Salary + Bonus: $335,000

Other Compensation: $5,500

Total: $340,500

Previous Year Total: $230,250

Percentage Change: 48%

19) DOUGLAS R. ARENDS

Chairman and CEO

Canadian Bank Note, Ottawa, Canada

Salary + Bonus: C$244,800 (C= Canadian $$)

Other Compensation: C$14,478

Total: C$259,278

Previous Year Total: C$259,446

Percentage Change: —

20) MARSHALL T. REYNOLDS

Chairman and CEO

Champion Industries, Huntington, WV

Salary + Bonus: $1

Other Compensation: $0

Total: $1

Previous Year Total: $1

Percentage Change: —
 

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