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PI 400 -- Executive Compensation - Hitting the Green

December 2001
These are the executives that have chipped their way to the top financial level. This feature, Printing Impressions' 12th annual executive compensation report, highlights the industry's top money earners at publicly held printing companies.

W. Ed Tyler, former president and CEO of Moore Corp., appears at the top of this year's ranking with total compensation of $27,291,216. This total is bolstered by $26.5 million in "other compensation" paid out after Tyler left the company late 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 Charles Cavell of Quebecor World, saw their total compensation go up several hundred thousand dollars, others, like Keith Walters of Ennis Business Forms, saw their annual salary decline.

This survey 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. Note that these options may increase total yearly earnings greatly.:

1) W. ED TYLER, 48
Former President and CEO
Moore Corp., Bannockburn, IL
Salary + Bonus: $791,216
Other Compensation: $26,500,000
Total: $27,291,216
Previous Year Total: $2,360,362
Percentage Change: 1,056%

2) CHARLES G. CAVELL, 60
President and CEO
Quebecor World, Montreal
(C= Canadian $$)
Salary + Bonus: C$2,432,317
Other Compensation: C$13,925
Total: C$2,446,242
Previous Year Total: C$1,919,338
Percentage Change: 27%:

3) WILLIAM L. DAVIS, 57
Chairman and CEO
R.R. Donnelley & Sons, Chicago
Salary + Bonus: $1,747,254
Other Compensation: $111,648
Total: $1,858,902
Previous Year Total: $1,871,793
Percentage Change: —:

4) DONALD D. BELCHER, 62
Chairman, President and CEO
Banta Corp., Menasha, WI
Salary + Bonus: $1,058,200
Other Compensation: $140,238
Total: $1,198,438
Previous Year Total: $972,655
Percentage Change: 23%

5) ROBERT M. JOHNSON, 55
Chairman and CEO
Bowne & Co., New York
Salary + Bonus: $911,500
Other Compensation: $172,010
Total: $1,083,510
Previous Year Total: $830,213
Percentage Change: 30%

6) TIMOTHY C. TUFF, 53
Chairman, President and CEO
John H. Harland Co., Atlanta
Salary + Bonus: $1,040,130
Other Compensation: $24,561
Total: $1,064,691
Previous Year Total: $1,155,351
Percentage Change: -7%

7) ALAN F. SCHULTZ, 42
CEO, President and Director
Valassis Communications,Livonia, MI
Salary + Bonus: $1,041,000
Other Compensation: $10,880
Total: $1,051,880
Previous Year Total: $1,114,192
Percentage Change: -5%

8) THOMAS D'AGOSTINO SR., 58
Chairman, President and CEO
Workflow Management, Palm Beach, FL
Salary + Bonus: $1,019,231
Other Compensation: $13,729
Total: $1,032,960
Previous Year Total: $732,327
Percentage Change: 41%

9) JAMES F. CONWAY III, 48
Chairman, President and CEO
Courier Corp., N. Chelmsford, MA
Salary + Bonus: $585,000
Other Compensation : $257,944
Total: $842,944
Previous Year Total: $680,235
Percentage Change: 23%

10) MICHAEL O. DUFFIELD
President and COO
Wallace Computer Services, Lisle, IL
Salary + Bonus: $606,750
Other Compensation: $57,984
Total: $664,734
Previous Year Total: $546,639
Percentage Change: 22%

11) ROBERT J. MURRAY, 60
Chairman, President and CEO
New England Business Service, Groton, MA
Salary + Bonus: $500,000
Other Compensation: $43,650
Total: $543,650
Previous Year Total: $636,667
Percentage Change: -15%

12) DENNIS P. LESTRANGE
Senior Vice President
IKON North America
IKON Office Solutions, Malvern, PA
Salary + Bonus: $529,000
Other Compensation: $13,879
Total: $542,879
Previous Year Total: $792,136
Percentage Change: -32%

13) PAUL V. REILLY, 48
President and CEO
Mail-Well Inc., Englewood, CO
Salary + Bonus: $425,000
Other Compensation: —
Total: $425,000
Previous Year Total: $628,040
Percentage Change: -32%

14) DENNIS L. REDIKER, 57
President and CEO
Standard Register, Dayton, OH
Salary + Bonus: $376,231
Other Compensation: $1,881
Total: $387,112
Previous Year Total: —
Percentage Change: —

15) BRUCE V. THOMAS, 44
President and CEO
Cadmus Communications, Richmond, VA
Salary + Bonus: $375,000
Other Compensation: $8,318
Total: $383,318
Previous Year Total: $302,949
Percentage Change: 27%

16) KEITH S. WALTERS, 51
Chairman, President and CEO
Ennis Business Forms, DeSoto, TX
Salary + Bonus: $375,192
Other Compensation: —
Total: $375,192
Previous Year Total: $553,746
Percentage Change: -32%

17) SERGE DE PAOLI
President, Label Mfg. Div.
CCL Label, Etobicoke, Ontario
(C= Canadian $$)
Salary + Bonus: C$329,440
Other Compensation: C$19,648
Total: C$349,088
Previous Year Total: C$494,667
Percentage Change: -29%

18) JOE R. DAVIS, 58
Chairman and CEO
Consolidated Graphics, Houston
Salary + Bonus: $346,710
Other Compensation: —
Total: $346,710
Previous Year Total: $232,000
Percentage Change: 49%

19) DONALD SINKIN, 53
Chairman, President and CEO
Disc Graphics, Hauppauge, NY
Salary + Bonus: $315,004
Other Compensation: $26,849
Total: $341,853
Previous Year Total: $431,250
Percentage Change: -21%

20) JOSEPH J. BAKSHA, 49
President and COO
Outlook Group, Neenah, WI
Salary + Bonus: $225,000
Other Compensation: $2,708
Total: $227,708
Previous Year Total: $319,762
Percentage Change: -29%
 

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