Star Tribune

Top Executives

The 27th annual report

The Star Tribune annually looks at the compensation of the highest paid CEOs of Minnesota public companies. Last year the 50 executives had total compensation of $433.9 million an increase of 25 percent over the amount they took home the previous year.

Good corporate performance helped 42 of the CEOs earn annual bonuses and a strong stock market in 2017 helped increase the value of long-term equity awards: 17 executives exercised stock options during the past year worth a collective $163.9 million, and 39 of the CEOs realized $138.2 million from the value of restricted stock that vested during the year.

Controls to adjust list of executives

List of executives

Top 50 CEOs

1
Headshot of James M. Cracchiolo

James M. Cracchiolo

Ch, CEO of Ameriprise Financial Inc.

Diversified financial services company that includes financial planning, wealth management, annuities, insurance and estate planning.

 
  • $60.6 million in total compensation
  • 301.9% change from 2017
  • CEO pay ratio 223:1
  • Median compensation $107,082
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $11,190,000
  • All other $830,422
  • Options exercised $40.8 million
  • Shares vesting $6,770,771
  • Stock change 56%
  • 2017 Top-50 ranking: 8
2
Headshot of Patrick McHale

Patrick McHale

P, CEO of Graco Inc.

Makes products to move, measure, control, dispense and spray fluid materials for manufacturing, construction, food and other industries.

 
  • $47.2 million in total compensation
  • 491.2% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $1,188,300
  • All other $12,760
  • Options exercised $45.2 million
  • Shares vesting $0
  • Stock change 65.6%
  • 2017 Top-50 ranking: 13
3
Headshot of Stephen J. Hemsley

Stephen J. Hemsley

Executive Ch, former CEO of UnitedHealth Group Inc.

a diversified health company. UnitedHealth offers products and services through two platforms. UnitedHealthcare provides health care coverage and benefits services; and Optum provides information and technology enabled health services.

Hemsley was chairman and CEO until Sept. 1, 2017 when he retired as CEO and became executive chairman.

 
  • $27 million in total compensation
  • -13.8% change from 2017
  • CEO pay ratio 298:1
  • Median compensation $58,378
  • Salary $1.2 million
  • Bonus $0
  • Non-equity IPC $5,745,600
  • All other $170,481
  • Options exercised $0
  • Shares vesting $19,853,312
  • Stock change 398%
  • 2017 Top-50 ranking: 2
4
Headshot of Kendall J. Powell

Kendall J. Powell

former Ch, CEO of General Mills Inc.

A manufacturer and marketer of consumer foods, its portfolio includes Cheerios, Betty Crocker, Pillsbury, Haagen-Dazs and Annie’s.

Powell retired as CEO effective June 1, 2017 and as chairman of General Mills on Jan. 1, 2018. Jeffrey Harmening succeeded Powell

 
  • $24.4 million in total compensation
  • 70.7% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $1.2 million
  • Bonus $0
  • Non-equity IPC $811,253
  • All other $165,110
  • Options exercised $17.2 million
  • Shares vesting $5,003,623
  • Stock change -6.8%
  • 2017 Top-50 ranking: 10
5
Headshot of Hubert Joly

Hubert Joly

Ch, CEO of Best Buy Co. Inc.

The multinational retailer of technology products and services estimates that 70 percent of the U.S. population is within 15 minutes of its more than 1,500 stores.

 
  • $22.5 million in total compensation
  • 33.9% change from 2017
  • CEO pay ratio 699:1
  • Median compensation $23,980
  • Salary $1.3 million
  • Bonus $0
  • Non-equity IPC $4,602,983
  • All other $28,307
  • Options exercised $0
  • Shares vesting $16,586,154
  • Stock change 0%
  • 2017 Top-50 ranking: 6
6
Headshot of Douglas Baker, Jr.

Douglas Baker, Jr.

Ch, CEO of Ecolab Inc.

Provides water, hygiene and energy technologies and services to food, hospitality, health care, industrial and oil and gas markets.

 
  • $22.3 million in total compensation
  • -11.7% change from 2017
  • CEO pay ratio 238:1
  • Median compensation $60,556
  • Salary $1.2 million
  • Bonus $0
  • Non-equity IPC $1,856,300
  • All other $243,608
  • Options exercised $14.2 million
  • Shares vesting $4,815,854
  • Stock change 15.8%
  • 2017 Top-50 ranking: 3
7
Headshot of Inge G. Thulin

Inge G. Thulin

Executive Ch, former P, CEO of 3M Co.

global diversified technology company with a strong R&D component, it has products in health care, industrial, consumer, electronics and safety areas.

Thulin became executive chairman and retired as president and CEO on July 1; Michael Roman was appointed CEO

 
  • $19.5 million in total compensation
  • 16.1% change from 2017
  • CEO pay ratio 324:1
  • Median compensation $63,338
  • Salary $1.5 million
  • Bonus $0
  • Non-equity IPC $4,121,830
  • All other $667,821
  • Options exercised $5.1 million
  • Shares vesting $8,053,820
  • Stock change 34.9%
  • 2017 Top-50 ranking: 7
8
Headshot of Brian Cornell

Brian Cornell

Ch, CEO of Target Corp.

General merchandise retailer selling everyday essentials, clothing and groceries. It is in the middle of a major upgrade of its physical stores, plus it has introduced more than a dozen new brands and improved its online capabilities and delivery system.

Target CEO’s compensation for fiscal 2017 did not include an annual equity grant due to a grant timing shift, including that $2 million grant the CEO total would have been 13,520,000 and the pay ratio 657:1.

 
  • $19.2 million in total compensation
  • 110.8% change from 2017
  • CEO pay ratio 408:1
  • Median compensation $20,581
  • Salary $1.3 million
  • Bonus $0
  • Non-equity IPC $4,836,000
  • All other $263,208
  • Options exercised $0
  • Shares vesting $12,754,619
  • Stock change 0%
  • 2017 Top-50 ranking: 12
9
Headshot of Randall J. Hogan

Randall J. Hogan

former Ch, CEO of Pentair PLC

Offers sustainable water solutions to the global market; the company split in May, with the electrical unit under the new entity nVent.

Hogan was chairman and CEO of Pentair untill the spin-off of nVent Electric as a separate public company on April 30, 2018. He remained chairman of nVent Electric. John Stauch became president and CEO of Pentair.

 
  • $19 million in total compensation
  • -18.1% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $1.3 million
  • Bonus $0
  • Non-equity IPC $2,650,634
  • All other $76,504
  • Options exercised $10.4 million
  • Shares vesting $4,590,874
  • Stock change 0%
  • 2017 Top-50 ranking: 4
10
Headshot of Benjamin G.S. Fowke, III

Benjamin G.S. Fowke, III

Ch, P, CEO of Xcel Energy Inc.

A major U.S. electric and natural gas utility providing energy for homes and businesses in eight Western and Midwestern states.

 
  • $17.3 million in total compensation
  • -6.6% change from 2017
  • CEO pay ratio 120:1
  • Median compensation $105,907
  • Salary $1.3 million
  • Bonus $0
  • Non-equity IPC $2,016,563
  • All other $54,902
  • Options exercised $0
  • Shares vesting $13,964,224
  • Stock change 48.1%
  • 2017 Top-50 ranking: 5
11
Headshot of Omar Ishrak

Omar Ishrak

Ch, CEO of Medtronic PLC

develops medical technology products that treat cardiac and vascular diseases, diabetes and neurological and musculoskeletal conditions.

 
  • $16.3 million in total compensation
  • -67.9% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $1.6 million
  • Bonus $0
  • Non-equity IPC $6,136,139
  • All other $173,858
  • Options exercised $3.3 million
  • Shares vesting $5,143,969
  • Stock change 7.2%
  • 2017 Top-50 ranking: 1
12
Headshot of Andrew Cecere

Andrew Cecere

Ch, P, CEO of U.S. Bancorp

The holding corporation is parent to the fifth largest commercial bank in the U.S. ranked by the value of deposits. It employs 73,000 people across 25 states.

Cecere was named president and CEO in April 2017 and Chairman in April 2018

 
  • $16 million in total compensation
  • 6.9% change from 2017
  • CEO pay ratio 205:1
  • Median compensation $58,269
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $1,659,867
  • All other $31,947
  • Options exercised $8 million
  • Shares vesting $5,303,751
  • Stock change 6.6%
  • 2017 Top-50 ranking: 9
13
Headshot of Dan Hanrahan

Dan Hanrahan

former P, CEO of Regis Corp.

Owns, operates and franchises hair salons in mall and strip-center locations in the United States, United Kingdom, Puerto Rico and Canada.

Hanrahan's Regis employment was terminated on April 16, 2017. Hugh Sawyer was named president and CEO to replace him

 
  • $15.3 million in total compensation
  • 498% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.7 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $9,406,633
  • Options exercised $0
  • Shares vesting $5,183,150
  • Stock change -15.1%
  • 2017 Top-50 ranking: 27
14
Headshot of Lee Schram

Lee Schram

CEO of Deluxe Corp.

One of the country’s largest check printers, it also provides services such as fraud protection, marketing and design for small firms, banks and others.

Schram announced plans to retire from Deluxe and the board of directors has hired a search firm to find his replacement.

 
  • $11.3 million in total compensation
  • 51.3% change from 2017
  • CEO pay ratio 117.2:1
  • Median compensation $55,300
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $588,256
  • All other $21,462
  • Options exercised $4.8 million
  • Shares vesting $4,838,729
  • Stock change 9.2%
  • 2017 Top-50 ranking: 14
15
Headshot of Joseph Puishys

Joseph Puishys

P, CEO of Apogee Enterprises Inc.

Fabricates, distributes and installs glass products and systems; it operates four segments, three in the commercial construction market.

 
  • $9 million in total compensation
  • -2.2% change from 2017
  • CEO pay ratio 83:1
  • Median compensation $47,188
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $2,013,120
  • All other $43,387
  • Options exercised $4.8 million
  • Shares vesting $1,276,770
  • Stock change -23.7%
  • 2017 Top-50 ranking: 11
16
Headshot of Andrew S. Duff

Andrew S. Duff

Ch, former CEO of Piper Jaffray Companies

Diversified financial services company providing asset management, investment banking, public finance, brokerage and research services

Duff retired as CEO effective Dec. 31, 2017 and remains chairman of the board. Chad Abraham was promoted to CEO

 
  • $7.4 million in total compensation
  • 21.6% change from 2017
  • CEO pay ratio 34:1
  • Median compensation $148,779
  • Salary $0.7 million
  • Bonus $0
  • Non-equity IPC $2,472,250
  • All other $159,231
  • Options exercised $0
  • Shares vesting $4,113,473
  • Stock change 21.2%
  • 2017 Top-50 ranking: 15
17
Headshot of James J. Owens

James J. Owens

P, CEO of H.B. Fuller Co.

A global adhesives provider for the packaging, hygiene, electronics and assembly materials, paper converting, woodworking industries.

 
  • $5.9 million in total compensation
  • -0.3% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $1.1 million
  • Bonus $0
  • Non-equity IPC $985,592
  • All other $299,655
  • Options exercised $0
  • Shares vesting $3,516,949
  • Stock change 17.6%
  • 2017 Top-50 ranking: 16
18
Headshot of J. Kevin Gilligan

J. Kevin Gilligan

Ch, CEO of Capella Education Co.

Provides online education, primarily through Capella University; it is being acquired by Strayer Education in Virginia.

Capella has agreed to merge with Strayer Univesity, the deal is expected to close in the third quarter of 2018. Gilligan is eligible for $19 million severance and accelerated vesting of equity awards.

 
  • $5.3 million in total compensation
  • 12.6% change from 2017
  • CEO pay ratio 79.5:1
  • Median compensation $39,541
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $795,830
  • All other $20,000
  • Options exercised $2.9 million
  • Shares vesting $762,993
  • Stock change -9.9%
  • 2017 Top-50 ranking: 21
19
Headshot of Jerry Mattys

Jerry Mattys

CEO of Tactile Systems Technology Inc.

Develops and provides medical devices for the treatment of chronic diseases at home including Flexitouch System for treats chronic limb swelling.

 
  • $5 million in total compensation
  • 533.8% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.4 million
  • Bonus $0
  • Non-equity IPC $449,880
  • All other $0
  • Options exercised $3.4 million
  • Shares vesting $746,361
  • Stock change 76.6%
  • 2017 Top-50 ranking: 48
20
Headshot of Archie Black

Archie Black

P, CEO of SPS Commerce Inc.

Cloud-based supply chain management solutions, providing fulfillment, sourcing and item assortment management as well as performance analytics.

 
  • $4.7 million in total compensation
  • 11.9% change from 2017
  • CEO pay ratio 77:1
  • Median compensation $69,031
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $289,250
  • All other $4,050
  • Options exercised $2.1 million
  • Shares vesting $1,750,264
  • Stock change -30.5%
  • 2017 Top-50 ranking: 22
21
Headshot of Shelly Ibach

Shelly Ibach

P, CEO of Sleep Number Corp.

Makes and sells adjustable mattresses and bedding. The company's Sleep IQ technology collects and analyzes biometric data.

 
  • $4.2 million in total compensation
  • 166.8% change from 2017
  • CEO pay ratio 140:1
  • Median compensation $52,130
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $1,137,400
  • All other $30,363
  • Options exercised $0.3 million
  • Shares vesting $1,855,669
  • Stock change 66.2%
  • 2017 Top-50 ranking: 34
22
Headshot of James

James "Joc" O'Rourke

P, CEO of Mosaic Co.

A single source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry.

O'Roarke announced on May 15 that Mosaic's headquarters would move to Florida.

 
  • $3.9 million in total compensation
  • -21.3% change from 2017
  • CEO pay ratio 94:1
  • Median compensation $88,792
  • Salary $1.1 million
  • Bonus $0
  • Non-equity IPC $1,528,000
  • All other $685,441
  • Options exercised $0
  • Shares vesting $597,694
  • Stock change -10.4%
  • 2017 Top-50 ranking: 18
23
Headshot of John P. Wiehoff

John P. Wiehoff

Ch, P, CEO of C.H. Robinson Worldwide Inc.

One of the world’s largest third-party logistics providers, it coordinates freight transportation and logistics services to help solve supply chain issues.

 
  • $3.2 million in total compensation
  • 19.2% change from 2017
  • CEO pay ratio 130:1
  • Median compensation $52,606
  • Salary $1.2 million
  • Bonus $0
  • Non-equity IPC $871,475
  • All other $28,638
  • Options exercised $0
  • Shares vesting $1,117,394
  • Stock change 89.1%
  • 2017 Top-50 ranking: 26
24
Headshot of James P. Snee

James P. Snee

Ch, P, CEO of Hormel Foods Corp.

produces food products for consumers, retail grocers, food-service and industrial markets

 
  • $3.1 million in total compensation
  • 40.3% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $400
  • Non-equity IPC $2,108,771
  • All other $144,097
  • Options exercised $0 million
  • Shares vesting $0
  • Stock change -17.4%
  • 2017 Top-50 ranking: 31
25
Headshot of Scott W. Wine

Scott W. Wine

Ch, CEO of Polaris Industries Inc.

Makes off-road vehicles including all-terrain vehicles and side-by-side vehicles, snowmobiles, motorcycles, small-electric vehicles and accessories.

 
  • $2.9 million in total compensation
  • -47.7% change from 2017
  • CEO pay ratio 199:1
  • Median compensation $44,328
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $1,856,558
  • All other $88,844
  • Options exercised $0
  • Shares vesting $0
  • Stock change 54.2%
  • 2017 Top-50 ranking: 17
26
Headshot of Mark Gross

Mark Gross

P, CEO of Supervalu Inc.

The grocery wholesaler supplies more than 1,800 stores and also continues to operate supermarkets including Cub Foods.

 
  • $2.8 million in total compensation
  • 133.7% change from 2017
  • CEO pay ratio 170:1
  • Median compensation $35,086
  • Salary $1.1 million
  • Bonus $0
  • Non-equity IPC $1,676,854
  • All other $26,557
  • Options exercised $0
  • Shares vesting $0
  • Stock change -43.3%
  • 2017 Top-50 ranking: 40
27
Headshot of Richard M. Olson

Richard M. Olson

Ch, P, CEO of The Toro Co.

Makes turf maintenance, snow and ice management, landscape, rental and specialty construction equipment, and irrigation and outdoor lighting products and equipment.

 
  • $2.8 million in total compensation
  • 132.9% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $991,535
  • All other $159,528
  • Options exercised $0
  • Shares vesting $890,367
  • Stock change 32.8%
  • 2017 Top-50 ranking: 41
28
Generic headshot image

Charles MacFarlane

P, CEO of Otter Tail Corp.

Diversified corporation with investments in electric utility operations and manufacturing operations including metal fabrication and plastics.

 
  • $2.7 million in total compensation
  • 145.5% change from 2017
  • CEO pay ratio 55:1
  • Median compensation $61,561
  • Salary $0.6 million
  • Bonus $63,720
  • Non-equity IPC $713,664
  • All other $7,500
  • Options exercised $0
  • Shares vesting $1,371,790
  • Stock change 12.4%
  • 2017 Top-50 ranking: 42
29
Headshot of Charles Kummeth

Charles Kummeth

P, CEO of Bio-Techne Corp.

Makes hematology controls and biotechnology products for research scientists to improve drug discovery and accurate clinical testing.

 
  • $2.7 million in total compensation
  • -4% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $1,053,594
  • All other $43,798
  • Options exercised $0
  • Shares vesting $691,770
  • Stock change 5.5%
  • 2017 Top-50 ranking: 25
30
Headshot of Scott P. Anderson

Scott P. Anderson

former P, CEO of Patterson Cos. Inc.

Distributes supplies and equipment to dental and animal health markets, including vaccines, diagnostic products and pharmaceuticals.

Anderson resigned from Patterson Companies Inc. on June 1, 2017 and Mark Walchirk was named president and CEO effective Nov. 20, 2017

 
  • $2.6 million in total compensation
  • -36.5% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $29,232
  • Options exercised $0
  • Shares vesting $1,751,973
  • Stock change 4.9%
  • 2017 Top-50 ranking: 23
31
Headshot of Tod Carpenter

Tod Carpenter

Ch, P, CEO of Donaldson Co. Inc.

A technology-led filtration company that designs, manufactures, and sells engine and industrial air, oil and liquid filtration solutions.

 
  • $2.5 million in total compensation
  • 92.7% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $1,453,590
  • All other $64,062
  • Options exercised $0
  • Shares vesting $134,518
  • Stock change 47.5%
  • 2017 Top-50 ranking: 38
32
Generic headshot image

Michael J. Happe

P, CEO of Winnebago Industries Inc.

Based in Iowa but with Twin Cities executive offices, it is a manufacturer of motor homes and travel trailers and is buying Chris-Craft boats.

Happe officially became CEO of Winnebago Industries on Jan. 18, 2016

 
  • $1.9 million in total compensation
  • n/a change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $902,152
  • All other $137,165
  • Options exercised $0
  • Shares vesting $219,970
  • Stock change 44.6%
  • 2017 Top-50 ranking: n/a
33
Headshot of Scott R. Ward

Scott R. Ward

Ch, P, CEO of Cardiovascular Systems Inc.

Treats peripheral artery disease and coronary artery disease with its patented orbital atherectomy systems (OAS) technology .

 
  • $1.8 million in total compensation
  • n/a change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $1,216,617
  • All other $0
  • Options exercised $0
  • Shares vesting $0
  • Stock change 75.4%
  • 2017 Top-50 ranking: n/a
34
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Arthur Przybyl

P, CEO of ANI Pharmaceuticals Inc.

Makes branded and generic prescription pharmaceuticals and performs contract manufacturing services for other pharmaceutical companies.

 
  • $1.8 million in total compensation
  • -62.9% change from 2017
  • CEO pay ratio 69:1
  • Median compensation $51,818
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $506,250
  • All other $27,309
  • Options exercised $0
  • Shares vesting $582,669
  • Stock change 6.3%
  • 2017 Top-50 ranking: 20
35
Headshot of Alan R, Hodnik

Alan R, Hodnik

Ch, P, CEO of Allete Inc.

Provides electric utility services through its Minnesota Power subsidiary and invests in infrastructure and other energy businesses.

 
  • $1.8 million in total compensation
  • 23.4% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $729,626
  • All other $112,568
  • Options exercised $0
  • Shares vesting $293,690
  • Stock change 19.4%
  • 2017 Top-50 ranking: 37
36
Headshot of Daniel L. Florness

Daniel L. Florness

P, CEO of Fastenal Co.

Sells fasteners, tools and construction supplies through company stores, on-site locations and industrial vending machines.

 
  • $1.6 million in total compensation
  • -67.1% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $1,041,901
  • All other $2,830
  • Options exercised $0
  • Shares vesting $0
  • Stock change 19.7%
  • 2017 Top-50 ranking: 19
37
Headshot of Craig Dahl

Craig Dahl

Ch, P, CEO of TCF Financial Corp.

National financial bank holding company with branches in Minnesota and six other states, providing retail and commercial banking services.

 
  • $1.6 million in total compensation
  • -30.9% change from 2017
  • CEO pay ratio 54.6:1
  • Median compensation $44,878
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $110,254
  • Options exercised $0
  • Shares vesting $554,868
  • Stock change 6.6%
  • 2017 Top-50 ranking: 29
38
Headshot of Gary R. Maharaj

Gary R. Maharaj

P, CEO of Surmodics Inc.

makes surface modification and in vitro diagnostic technologies for the health care industry

 
  • $1.5 million in total compensation
  • -53.4% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $342,530
  • All other $4,363
  • Options exercised $0
  • Shares vesting $625,787
  • Stock change 3%
  • 2017 Top-50 ranking: 24
39
Headshot of Victoria Holt

Victoria Holt

P, CEO of Proto Labs Inc.

Online and technology-enabled quick-turn manufacturer of custom parts for prototyping and short-run production with operations in five countries.

 
  • $1.5 million in total compensation
  • 35.3% change from 2017
  • CEO pay ratio 74:1
  • Median compensation $49,074
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $597,154
  • All other $10,800
  • Options exercised $0
  • Shares vesting $341,289
  • Stock change 100.6%
  • 2017 Top-50 ranking: 43
40
Headshot of Jeffrey Graves

Jeffrey Graves

P, CEO of MTS Systems Corp.

Provides testing hardware, software and services solutions to help customers improve their design, development and manufacturing processes.

 
  • $1.5 million in total compensation
  • -5% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.7 million
  • Bonus $0
  • Non-equity IPC $237,778
  • All other $20,667
  • Options exercised $0.4 million
  • Shares vesting $124,431
  • Stock change 18.7%
  • 2017 Top-50 ranking: 35
41
Headshot of Brett D. Heffes

Brett D. Heffes

CEO of Winmark Corp.

franchises five retail brands that buy, sell, trade and consign used and new merchandise and offers equipment leasing products

 
  • $1.5 million in total compensation
  • -34.5% change from 2017
  • CEO pay ratio 12:1
  • Median compensation $78,265
  • Salary $0.3 million
  • Bonus $300,000
  • Non-equity IPC $0
  • All other $9,450
  • Options exercised $0.9 million
  • Shares vesting $0
  • Stock change 5.2%
  • 2017 Top-50 ranking: 30
42
Headshot of H. Chris Killingstad

H. Chris Killingstad

P, CEO of Tennant Co.

Makes mechanized cleaning equipment, sustainable cleaning technologies, aftermarket parts and consumables and specialty surface coatings.

 
  • $1.2 million in total compensation
  • -51% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.7 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $79,558
  • Options exercised $0
  • Shares vesting $442,714
  • Stock change 3.3%
  • 2017 Top-50 ranking: 28
43
Headshot of Ron Konezny

Ron Konezny

P, CEO of Digi International Inc.

Global provider of business and mission-critical machine-to-machine and Internet of Things connectivity products and services.

 
  • $1.2 million in total compensation
  • -31.5% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $11,575
  • Options exercised $0
  • Shares vesting $739,667
  • Stock change -7%
  • 2017 Top-50 ranking: 32
44
Generic headshot image

Thomas Stoelk

former CEO of Northern Oil and Gas Inc.

Independent nonoperator energy company engaged in the exploration and development of oil and natural gas properties

Stoelk resigned his employment with Northern Oil and Gas in January 2018 and Michael Reger returned as CEO on May 25, 2018; Reger was subsequently moved to president and Brandon Elliott was named CEO

 
  • $1.2 million in total compensation
  • -31.2% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $63,581
  • Options exercised $0
  • Shares vesting $587,479
  • Stock change -25.5%
  • 2017 Top-50 ranking: 33
45
Headshot of Robert Rosenblatt

Robert Rosenblatt

CEO of EVINE Live Inc.

Multiplatform video commerce company that offers a range of proprietary and name brands directly to consumers via television, online and mobile devices.

Rosenblatt's other compensation includes $238,506 of commuting expense

 
  • $1.1 million in total compensation
  • 20.7% change from 2017
  • CEO pay ratio 78:1
  • Median compensation $27,522
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $251,804
  • Options exercised $0
  • Shares vesting $30,643
  • Stock change -6.7%
  • 2017 Top-50 ranking: 45
46
Headshot of Chris Homeister

Chris Homeister

former P, CEO of Tile Shop Holdings Inc.

Specialty retailer of manufactured and natural stone tiles, setting and maintenance materials and related accessories.

Homeister served as CEO and president through October 27, 2017.. TIle Shop's pay ratio was based on combined compensation of Homeister and interim CEO Robert Rucker of $1,408,905.

 
  • $1 million in total compensation
  • -1.6% change from 2017
  • CEO pay ratio 42:1
  • Median compensation $34,238
  • Salary $0.4 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $403,159
  • Options exercised $0
  • Shares vesting $226,188
  • Stock change -50.2%
  • 2017 Top-50 ranking: 44
47
Generic headshot image

Ilan Levin

former CEO of Stratasys Ltd.

Provides 3-D printing and additive manufacturing solutions by making printers and also prototype and manufactured goods services.

Stratasys announced that Ilan Levin resigned as CEO effective June 1, 2018.

 
  • $0.9 million in total compensation
  • 186.8% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.4 million
  • Bonus $440,340
  • Non-equity IPC $0
  • All other $25,813
  • Options exercised $0
  • Shares vesting $0
  • Stock change 20.7%
  • 2017 Top-50 ranking: 61
48
Headshot of Andrew Rooke

Andrew Rooke

Ch, CEO of ASV Holdings Inc.

Designer and manufacturer of compact track and skid steer loaders and related accessories and attachments.

 
  • $0.8 million in total compensation
  • 41.8% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.4 million
  • Bonus $324,950
  • Non-equity IPC $0
  • All other $56,641
  • Options exercised $0
  • Shares vesting $0
  • Stock change 0%
  • 2017 Top-50 ranking: 51
49
Headshot of Darin Hammers

Darin Hammers

P, CEO of Cogentix Medical Inc.

makes medical devices for the diagnosis and treatment of urologic disorders.

Cogentix agreed to be acquired by Laborie Medical in March 2018

 
  • $0.8 million in total compensation
  • -5.8% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.4 million
  • Bonus $321,003
  • Non-equity IPC $0
  • All other $9,568
  • Options exercised $0
  • Shares vesting $0
  • Stock change 0%
  • 2017 Top-50 ranking: 47
50
Headshot of Jon R. Sabes

Jon R. Sabes

Ch, CEO of GWG Holdings Inc.

purchases and sells life insurance policies in the secondary market

On Jan. 18, 2018 GWG Holdings announced a strategic partnership with Dallas-based The Beneficient Company Group, L.P.

 
  • $0.7 million in total compensation
  • -19.8% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.5 million
  • Bonus $212,881
  • Non-equity IPC $0
  • All other $0
  • Options exercised $0
  • Shares vesting $0
  • Stock change 4.8%
  • 2017 Top-50 ranking: 46

Top female executives

1
Headshot of Marianne Short

Marianne Short

EVP, chief legal officer of UnitedHealth Group Inc.

a diversified health company. UnitedHealth offers products and services through two platforms. UnitedHealthcare provides health care coverage and benefits services; and Optum provides information and technology enabled health services.

 
  • $11.4 million in total compensation
  • 27.8% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $1,970,400
  • All other $104,130
  • Options exercised $0
  • Shares vesting $8,562,821
  • Stock change 389%
  • 2017 Top-50 ranking: 1
2
Headshot of Shari L. Ballard

Shari L. Ballard

P, multi-channel retail of Best Buy Co. Inc.

The multinational retailer of technology products and services estimates that 70 percent of the U.S. population is within 15 minutes of its more than 1,500 stores.

 
  • $7 million in total compensation
  • 4.9% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $2,309,113
  • All other $24,367
  • Options exercised $1.4 million
  • Shares vesting $2,390,565
  • Stock change 65.1%
  • 2017 Top-50 ranking: 2
3
Headshot of Shelly Ibach

Shelly Ibach

P, CEO of Sleep Number Corp.

Makes and sells adjustable mattresses and bedding. The company's Sleep IQ technology collects and analyzes biometric data.

 
  • $4.2 million in total compensation
  • 166.8% change from 2017
  • CEO pay ratio 140:1
  • Median compensation $52,130
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $1,137,400
  • All other $30,363
  • Options exercised $0.3 million
  • Shares vesting $1,855,669
  • Stock change 66.2%
  • 2017 Top-50 ranking: 7
4
Headshot of Corie S. Barry

Corie S. Barry

CFO of Best Buy Co. Inc.

The multinational retailer of technology products and services estimates that 70 percent of the U.S. population is within 15 minutes of its more than 1,500 stores.

 
  • $4.2 million in total compensation
  • n/a change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $2,057,625
  • All other $8,203
  • Options exercised $0 million
  • Shares vesting $1,346,569
  • Stock change 65.1%
  • 2017 Top-50 ranking: n/a
5
Headshot of Catherine Smith

Catherine Smith

EVP, CFO of Target Corp.

General merchandise retailer selling everyday essentials, clothing and groceries. It is in the middle of a major upgrade of its physical stores, plus it has introduced more than a dozen new brands and improved its online capabilities and delivery system.

 
  • $3.7 million in total compensation
  • 91% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $432,000
  • Non-equity IPC $993,067
  • All other $87,266
  • Options exercised $0
  • Shares vesting $1,377,601
  • Stock change 21.6%
  • 2017 Top-50 ranking: 6
6
Headshot of Karen L. Parkhill, EVP, CFO

Karen L. Parkhill, EVP, CFO

EVP, CFO of Medtronic PLC

develops medical technology products that treat cardiac and vascular diseases, diabetes and neurological and musculoskeletal conditions.

 
  • $3.3 million in total compensation
  • n/a change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.6 million
  • Bonus $1,000,000
  • Non-equity IPC $778,883
  • All other $934,554
  • Options exercised $0
  • Shares vesting $0
  • Stock change 0%
  • 2017 Top-50 ranking: n/a
7
Headshot of Debra L. Schoneman

Debra L. Schoneman

CFO of Piper Jaffray Companies

Diversified financial services company providing asset management, investment banking, public finance, brokerage and research services

 
  • $3.3 million in total compensation
  • 38.8% change from 2017
  • CEO pay ratio 34:1
  • Median compensation $148,779
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $1,437,500
  • All other $40,839
  • Options exercised $0
  • Shares vesting $1,288,264
  • Stock change 21.2%
  • 2017 Top-50 ranking: 3
8
Headshot of Renee J. Peterson

Renee J. Peterson

CFO, VP, treasurer of The Toro Co.

Makes turf maintenance, snow and ice management, landscape, rental and specialty construction equipment, and irrigation and outdoor lighting products and equipment.

 
  • $3 million in total compensation
  • 53.1% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $484,573
  • All other $125,644
  • Options exercised $0.9 million
  • Shares vesting $1,022,193
  • Stock change 32.8%
  • 2017 Top-50 ranking: 5
9
Headshot of Janna A. Potts

Janna A. Potts

EVP, chief stores officer of Target Corp.

General merchandise retailer selling everyday essentials, clothing and groceries. It is in the middle of a major upgrade of its physical stores, plus it has introduced more than a dozen new brands and improved its online capabilities and delivery system.

 
  • $2.8 million in total compensation
  • n/a change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.7 million
  • Bonus $364,500
  • Non-equity IPC $837,900
  • All other $103,520
  • Options exercised $0
  • Shares vesting $771,991
  • Stock change 21.6%
  • 2017 Top-50 ranking: n/a
10
Headshot of Gunjan Kedia

Gunjan Kedia

VCh, Wealth Management and Investment Services of U.S. Bancorp

The holding corporation is parent to the fifth largest commercial bank in the U.S. ranked by the value of deposits. It employs 73,000 people across 25 states.

 
  • $1.6 million in total compensation
  • n/a change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $611,520
  • All other $69,327
  • Options exercised $0
  • Shares vesting $375,007
  • Stock change 0%
  • 2017 Top-50 ranking: n/a

Non-CEO executives

1
Headshot of David S. Wichmann

David S. Wichmann

P of UnitedHealth Group Inc.

a diversified health company. UnitedHealth offers products and services through two platforms. UnitedHealthcare provides health care coverage and benefits services; and Optum provides information and technology enabled health services.

Wichmann became CEO on Sept. 1, 2017 succeeding Stephen Hemsley

 
  • $83.2 million in total compensation
  • 229.8% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $1.2 million
  • Bonus $0
  • Non-equity IPC $4,909,800
  • All other $216,974
  • Options exercised $58.8 million
  • Shares vesting $18,105,524
  • Stock change 39.8%
  • 2017 Top-50 ranking: 1
2
Headshot of Larry C. Renfro

Larry C. Renfro

VCh UnitedHealth Group, CEO-Optum of UnitedHealth Group Inc.

a diversified health company. UnitedHealth offers products and services through two platforms. UnitedHealthcare provides health care coverage and benefits services; and Optum provides information and technology enabled health services.

 
  • $23.1 million in total compensation
  • 55.3% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $1.1 million
  • Bonus $0
  • Non-equity IPC $4,647,700
  • All other $173,490
  • Options exercised $0
  • Shares vesting $17,207,570
  • Stock change 38.9%
  • 2017 Top-50 ranking: 2
3
Headshot of Marianne Short

Marianne Short

EVP, chief legal officer of UnitedHealth Group Inc.

a diversified health company. UnitedHealth offers products and services through two platforms. UnitedHealthcare provides health care coverage and benefits services; and Optum provides information and technology enabled health services.

 
  • $11.4 million in total compensation
  • 27.8% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $1,970,400
  • All other $104,130
  • Options exercised $0
  • Shares vesting $8,562,821
  • Stock change 389%
  • 2017 Top-50 ranking: 4
4
Headshot of R. Michael Mohan

R. Michael Mohan

SVP, chief merchandings and marketing officer of Best Buy Co. Inc.

The multinational retailer of technology products and services estimates that 70 percent of the U.S. population is within 15 minutes of its more than 1,500 stores.

 
  • $10.7 million in total compensation
  • n/a change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.8 million
  • Bonus $2,895,073
  • Non-equity IPC $1,531,251
  • All other $55,284
  • Options exercised $3.5 million
  • Shares vesting $1,850,394
  • Stock change 0%
  • 2017 Top-50 ranking: n/a
5
Headshot of Hak Cheol Shin

Hak Cheol Shin

VCh, EVP of 3M Co.

global diversified technology company with a strong R&D component, it has products in health care, industrial, consumer, electronics and safety areas.

 
  • $8.2 million in total compensation
  • n/a change from 2017
  • CEO pay ratio 324:1
  • Median compensation $63,338
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $1,121,844
  • All other $146,484
  • Options exercised $4.7 million
  • Shares vesting $1,398,999
  • Stock change 34.9%
  • 2017 Top-50 ranking: n/a
6
Headshot of Thomas W. Handley

Thomas W. Handley

P, COO of Ecolab Inc.

Provides water, hygiene and energy technologies and services to food, hospitality, health care, industrial and oil and gas markets.

 
  • $8.2 million in total compensation
  • 97.7% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.7 million
  • Bonus $0
  • Non-equity IPC $571,900
  • All other $111,652
  • Options exercised $5.6 million
  • Shares vesting $1,203,997
  • Stock change 15.8%
  • 2017 Top-50 ranking: 11
7
Headshot of Dale D. Johnson

Dale D. Johnson

P, worldwide contractor equipment division of Graco Inc.

Makes products to move, measure, control, dispense and spray fluid materials for manufacturing, construction, food and other industries.

 
  • $8.1 million in total compensation
  • n/a change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.4 million
  • Bonus $0
  • Non-equity IPC $415,800
  • All other $18,635
  • Options exercised $7.2 million
  • Shares vesting $0
  • Stock change 0%
  • 2017 Top-50 ranking: n/a
8
Headshot of Shari L. Ballard

Shari L. Ballard

P, multi-channel retail of Best Buy Co. Inc.

The multinational retailer of technology products and services estimates that 70 percent of the U.S. population is within 15 minutes of its more than 1,500 stores.

 
  • $7 million in total compensation
  • 4.9% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $2,309,113
  • All other $24,367
  • Options exercised $1.4 million
  • Shares vesting $2,390,565
  • Stock change 65.1%
  • 2017 Top-50 ranking: 5
9
Headshot of Gary L. Ellis

Gary L. Ellis

EVP-global operations of Medtronic PLC

develops medical technology products that treat cardiac and vascular diseases, diabetes and neurological and musculoskeletal conditions.

Ellis retired on Dec. 31, 2016

 
  • $6.9 million in total compensation
  • 49.1% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $1,729,783
  • All other $34,270
  • Options exercised $3.1 million
  • Shares vesting $1,397,173
  • Stock change 7.2%
  • 2017 Top-50 ranking: 9
10
Headshot of John J. Mulligan

John J. Mulligan

EVP, COO of Target Corp.

General merchandise retailer selling everyday essentials, clothing and groceries. It is in the middle of a major upgrade of its physical stores, plus it has introduced more than a dozen new brands and improved its online capabilities and delivery system.

 
  • $5.8 million in total compensation
  • 28.1% change from 2017
  • CEO pay ratio
  • Median compensation
  • Salary $1 million
  • Bonus $300,000
  • Non-equity IPC $0
  • All other $595,493
  • Options exercised $1.1 million
  • Shares vesting $2,779,439
  • Stock change -8.1%
  • 2017 Top-50 ranking: 10

Methodology: Information on the largest CEO pay packages comes from the company's annual proxy or other corporate filing with the Securities and Exchange Commission. The Star Tribune counts total compensation as the sum of salary, bonus, cash-based incentive plan compensation, miscellaneous compensation, and the value of exercised stock options and restricted stock that has vested during the year.

The SEC prescribes companies to disclose executive compensation in they summary compensation table of the proxy as salary, bonus, cash-based incentive plan compensation, miscellaneous compensation, and the grant date value of new stock options and restricted stock awards.

The newly required CEO pay ratio is based on the CEO’s total compensation from the summary compensation table as prescribed by the SEC.. Due to timing or company size half the company's have not yet reported their CEO pay ration and median employee compensation.

Star Tribune graphic: Patrick Kennedy, Alan Palazzolo, Jamie Hutt, David Braunger, Billy Steve Clayton

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