Executive Compensation -- What's in Their Wallets?

If you have ever wanted to take a peek into the pockets of some of the top executives in the printing industry, here is your chance. Printing Impressions' 16th annual executive compensation report highlights the industry's top money earners at publicly held printing companies.

Mark Angelson, CEO of Chicago-based RR Donnelley, again ranks first in annual salary for this list, earning more than $4 million. This is the third 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 Arthur Hershaft of Paxar Corp. and Lawrence Mosner of Deluxe Corp., enjoyed income gains of more than 100 percent, others, like Courier's James Conway and Bruce Thomas of Cadmus Communications, saw their annual salaries decline.

Interestingly, Marshall Reynolds, chairman and CEO of Champion Industries in Huntington, WV, (who is not included on this report) claims an annual 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, 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.

1) MARK A. ANGELSON, 53

CEO

RR Donnelley, Chicago

Salary + Bonus: $3,833,333

Other Compensation: $289,892

Total: $4,123,225

Previous Year Total: $3,057,271

Percentage Change: 35%

2) LAWRENCE J. MOSNER, 63

Former Chairman and CEO

Deluxe Corp., Shoreview, MN

Salary + Bonus: $2,228,125