Total compensation: $47,308,112 for the year ended Dec. 31, 2014
Salary: $1,103,277
Non-equity incentive pay: $2,564,100
Other compensation: $260,078
Restricted stock: $0
Long-term incentive pay: $0
Exercised stock options: $38,562,285
Value realized on vesting shares: $4,818,372
New stock options: 163,139
Total shareholder return: 1.3 percent
Note: 2014 was Baker's best year for overall compensation since becoming chief executive of St. Paul-based Ecolab Inc. in 2004.
During that time, the company has had significant revenue and earnings growth. In 2011, Baker shepherded the $8 billion acquisition of Nalco that pushed Ecolab into new industrial, oil and gas markets.
Baker's compensation rose from $8.2 million in 2013 to $47.3 million, mainly due to the $38.6 million in stock options he exercised in 2014 after exercising no options in 2013.
Ecolab exceeded its profit goal for 2014, based on adjusted diluted EPS. That helped Baker earn an annual bonus that was 166 percent of the target for the year.
At Ecolab's 2014 annual meeting, 96 percent of votes cast by shareholders supported the company's 2013 executive compensation plan.
Patrick Kennedy
Minneapolis-based Hennepin Healthcare says it also will suspend contributions to some worker retirement plans while pausing $24 million in capital projects.
