StarTribune.com
paywatch031210
SearchSearch:
Manage your Star Tribune subscription
 Manage subscription | Vacation stop

On the homepage

Access Vikings

Childress: Learn from past, prepare for future

Out There

Rescue

Mom, kids rescued from sinking car

North Memorial

Tough road to recovery

Home | Business


CEO pay watch: Graco's McHale: $776,000

Last update: March 11, 2010 - 6:46 PM

E-mail this storyE-mail this story
Save to del.icio.usSave to del.icio.us
Share on FacebookShare on Facebook
Share on DiggShare on Digg

Minnesota business by the numbers

See Minnesota's top earning companies, CEOs and non-profits

CEO Paywatch

Related Content

Patrick McHale

More from Business

GRACO INC.

Patrick McHale, president, CEO

Total compensation: $776,741 for the year ended Dec. 31

Salary: $641,700

Non-equity incentive pay: $0

Other compensation: $11,854

Exercised stock options: $123,187

New stock options: 225,000

Total return to shareholders: 24.3 percent

Note: In 2009 Graco sales dropped 29 percent to $579 million and earnings fell nearly 60 percent to $49 million as Graco and other industrial companies were hit hard by the recession. In December 2008 and March 2009 Graco made layoffs and cut costs as demand dropped for its fluid-handling products.

For 2009 McHale qualified for a bonus of $81,228. But with employees having already made sacrifices, he declined to accept the award. McHale also requested, and the compensation committee approved, no increase to his base salary for 2010.

PATRICK KENNEDY

Recent Business stories

Akamai 2nd-quarter net income up 6 percent on rising demand for Web traffic management tech - March 11, 2010
Akamai 2nd-quarter net income up 6 percent on rising demand for Web traffic management tech - Akamai Technologies Inc. said Wednesday that its second-quarter net income edged up 6 percent as demand for its Web traffic management technology grew. More

Comment on this story   |   Read all 11 comments   |  Hide reader comments

Subscribe