Star Tribune

Top Executives

The 29th annual report

The Star Tribune counts options and stock awards toward total compensation when executives realize those equity awards and not in the year they are granted. By that definition, the 50 CEOs on this year’s list realized a combined $378 million in total compensation, slightly less than the prior year. The median realized compensation was $4.3 million, level with last year’s median total. Of the CEOs, 31 saw their total compensation increase. While the CEOs represent companies from a variety of industries, making the CEO pay ratios difficult to compare from company to company, the median CEO pay ratio of the companies required to disclose it was 110 to 1, up from a 107 to 1 ratio last year. The pay of the median employee at these companies, meanwhile, increased 2%, from $56,291 to $57,432.

Controls to adjust list of executives

List of executives

Top 50 CEOs

1
Headshot of David S. Wichmann

David S. Wichmann

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.

 
  • $52.1 million in total compensation
  • 142.7% change from 2019
  • CEO pay ratio 348:1
  • Median compensation $54,322
  • Salary $1.4 million
  • Bonus $0
  • Non-equity IPC $4.5 million
  • All other $201,993
  • Options exercised $27.2 million
  • Shares vesting $18.8 million
  • Stock change 20%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 6
2
Headshot of David Ossip

David Ossip

Ch, CEO of Ceridian HCM Holding Inc.

A human capital management software company. Its Dayforce product includes human resources, payroll, benefits, workforce and talent management functions.

 
  • $43.9 million in total compensation
  • 2,743.8% change from 2019
  • CEO pay ratio
  • Median compensation
  • Salary $0.7 million
  • Bonus $0
  • Non-equity IPC $800,000
  • All other $46,747
  • Options exercised $36.1 million
  • Shares vesting $6.2 million
  • Stock change 96.8%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 39
3
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.

 
  • $33.9 million in total compensation
  • 26.1% change from 2019
  • CEO pay ratio 365:1
  • Median compensation $54,234
  • Salary $1.3 million
  • Bonus $0
  • Non-equity IPC $2.3 million
  • All other $311,787
  • Options exercised $21.9 million
  • Shares vesting $8 million
  • Stock change 32.3%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 2
4
Headshot of Benjamin G.S. Fowke, III

Benjamin G.S. Fowke, III

Ch, 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.

 
  • $23.3 million in total compensation
  • -10.8% change from 2019
  • CEO pay ratio 150:1
  • Median compensation $113,022
  • Salary $1.4 million
  • Bonus $0
  • Non-equity IPC $2.8 million
  • All other $64,524
  • Options exercised $0
  • Shares vesting $19.1 million
  • Stock change 32.4%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 3
5
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.

 
  • $21.6 million in total compensation
  • -4.1% change from 2019
  • CEO pay ratio 821:1
  • Median compensation $23,080
  • Salary $1.4 million
  • Bonus $0
  • Non-equity IPC $3.3 million
  • All other $592,543
  • Options exercised $0
  • Shares vesting $16.3 million
  • Stock change 61%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: 5
6
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.

 
  • $16.5 million in total compensation
  • -0.1% change from 2019
  • CEO pay ratio 230:1
  • Median compensation $106,428
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $5.8 million
  • All other $579,231
  • Options exercised $0
  • Shares vesting $9.1 million
  • Stock change 64%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 9
7
Headshot of Omar Ishrak

Omar Ishrak

Executive Chairman of Medtronic PLC

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

Ishrak retired as CEO in April and became executive chairman. Geoff Martha succeeded Ishrak as CEO.

 
  • $13.9 million in total compensation
  • -27.5% change from 2019
  • CEO pay ratio 240:1
  • Median compensation $74,206
  • Salary $1.7 million
  • Bonus $0
  • Non-equity IPC $6.7 million
  • All other $101,114
  • Options exercised $0
  • Shares vesting $5.4 million
  • Stock change 13.3%
  • Fiscal year end: 4/2/2019
  • 2019 Top-50 ranking: 8
8
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.

 
  • $13.7 million in total compensation
  • -3.5% change from 2019
  • CEO pay ratio 269:1
  • Median compensation $69,775
  • Salary $1.2 million
  • Bonus $0
  • Non-equity IPC $2.7 million
  • All other $52,503
  • Options exercised $5 million
  • Shares vesting $4.7 million
  • Stock change 33.6%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 10
9
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.

 
  • $9 million in total compensation
  • 79.9% change from 2019
  • CEO pay ratio 181:1
  • Median compensation $34,680
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $673,215
  • All other $178,392
  • Options exercised $1.4 million
  • Shares vesting $5.7 million
  • Stock change 50%
  • Fiscal year end: 7/3/2019
  • 2019 Top-50 ranking: 21
10
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.

 
  • $8 million in total compensation
  • 69.1% change from 2019
  • CEO pay ratio 171:1
  • Median compensation $64,371
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $2 million
  • All other $45,688
  • Options exercised $0
  • Shares vesting $5 million
  • Stock change 41.6%
  • Fiscal year end: 6/0/2019
  • 2019 Top-50 ranking: 23
11
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.

 
  • $8 million in total compensation
  • -6.6% change from 2019
  • CEO pay ratio 94:1
  • Median compensation $52,172
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $1.5 million
  • All other $104,280
  • Options exercised $4.1 million
  • Shares vesting $1.5 million
  • Stock change 51.6%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 14
12
Headshot of Corie S. Barry

Corie S. Barry

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.

 
  • $7.5 million in total compensation
  • 17.8% change from 2019
  • CEO pay ratio 438:1
  • Median compensation $27,005
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $1.9 million
  • All other $37,867
  • Options exercised $0 million
  • Shares vesting $4.5 million
  • Stock change 47%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: n/a
13
Headshot of Russell Becker

Russell Becker

P, CEO of APi Group Inc.

Provides commercial safety services, specialty services and industrial services

Becker's bonus includes a $2,500,000 one-time transaction bonus paid to Becker in connection with the closing of the APi Acquisition. He also got $27 million when his APi Group stock options automatically vested and settled when the acquisition with J2 concluded. Becker also got $2,965,715 from a nonqualified deferred compensation plan that was in place with APi Group. The new company does not have a similar plan so he was given a distribution from that plan.

 
  • $7.4 million in total compensation
  • n/a change from 2019
  • CEO pay ratio 194:1
  • Median compensation $64,059
  • Salary $1.1 million
  • Bonus $6.3 million
  • Non-equity IPC $0
  • All other $24,375
  • Options exercised $0
  • Shares vesting $0
  • Stock change 0%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
14
Headshot of Michael F. Roman

Michael F. Roman

Ch, 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.

 
  • $7 million in total compensation
  • 35.3% change from 2019
  • CEO pay ratio 319:1
  • Median compensation $57,494
  • Salary $1.2 million
  • Bonus $0
  • Non-equity IPC $1.3 million
  • All other $173,025
  • Options exercised $0.7 million
  • Shares vesting $3.6 million
  • Stock change -4.3%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 20
15
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.

 
  • $6.9 million in total compensation
  • 92.1% change from 2019
  • CEO pay ratio 119:1
  • Median compensation $54,055
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $1.5 million
  • All other $44,727
  • Options exercised $0.9 million
  • Shares vesting $3.5 million
  • Stock change 55.2%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 28
16
Headshot of James P. Snee

James P. Snee

P, CEO of Hormel Foods Corp.

Produces food products for consumers, retail grocers, food-service and industrial markets. Products are marketed in more than 75 countries.

 
  • $6.1 million in total compensation
  • 9.5% change from 2019
  • CEO pay ratio 185:1
  • Median compensation $45,086
  • Salary $0.9 million
  • Bonus $400
  • Non-equity IPC $3.3 million
  • All other $183,658
  • Options exercised $1.6 million
  • Shares vesting $0
  • Stock change -4.4%
  • Fiscal year end: 10/0/2019
  • 2019 Top-50 ranking: 18
17
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.

 
  • $5.8 million in total compensation
  • -28.7% change from 2019
  • CEO pay ratio 48:1
  • Median compensation $76,511
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $542,900
  • All other $8,400
  • Options exercised $2.3 million
  • Shares vesting $2.5 million
  • Stock change 34.6%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 15
18
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.

 
  • $5.6 million in total compensation
  • -83.9% change from 2019
  • CEO pay ratio 131:1
  • Median compensation $64,849
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $403,944
  • All other $25,188
  • Options exercised $4.4 million
  • Shares vesting $0
  • Stock change 25.9%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 1
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.

 
  • $5.4 million in total compensation
  • -60.4% change from 2019
  • CEO pay ratio 39:1
  • Median compensation $72,183
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $728,471
  • All other $4,244
  • Options exercised $1.6 million
  • Shares vesting $2.5 million
  • Stock change 48.2%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 11
20
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 million in total compensation
  • 7.4% change from 2019
  • CEO pay ratio 127:1
  • Median compensation $57,370
  • Salary $1.2 million
  • Bonus $0
  • Non-equity IPC $956,994
  • All other $350,655
  • Options exercised $0.9 million
  • Shares vesting $1.6 million
  • Stock change 4.8%
  • Fiscal year end: 11/6/2019
  • 2019 Top-50 ranking: 25
21
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.

 
  • $4.8 million in total compensation
  • 69.6% change from 2019
  • CEO pay ratio 109:1
  • Median compensation $48,319
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $606,939
  • All other $182,363
  • Options exercised $0.4 million
  • Shares vesting $2.6 million
  • Stock change 38.8%
  • Fiscal year end: 10/4/2019
  • 2019 Top-50 ranking: 31
22
Headshot of Chad R. Abraham

Chad R. Abraham

CEO of Piper Sandler Companies

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

 
  • $4.8 million in total compensation
  • 2.8% change from 2019
  • CEO pay ratio 25:1
  • Median compensation $185,719
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $2.5 million
  • All other $26,727
  • Options exercised $0
  • Shares vesting $1.7 million
  • Stock change 26.8%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 24
23
Headshot of Jeffrey L. Harmening

Jeffrey L. Harmening

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.

 
  • $4.6 million in total compensation
  • 14.4% change from 2019
  • CEO pay ratio 172:1
  • Median compensation $57,177
  • Salary $1.2 million
  • Bonus $0
  • Non-equity IPC $1.8 million
  • All other $125,052
  • Options exercised $0.9 million
  • Shares vesting $624,805
  • Stock change 29.4%
  • Fiscal year end: 5/0/2019
  • 2019 Top-50 ranking: 26
24
Headshot of Charles MacFarlane

Charles MacFarlane

P, CEO of Otter Tail Corp.

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

 
  • $4.5 million in total compensation
  • 20.2% change from 2019
  • CEO pay ratio 84:1
  • Median compensation $68,324
  • Salary $0.7 million
  • Bonus $105,000
  • Non-equity IPC $800,800
  • All other $7,750
  • Options exercised $0
  • Shares vesting $2.9 million
  • Stock change 6.3%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 27
25
Generic headshot image

Arthur Przybyl

former P, CEO of ANI Pharmaceuticals Inc.

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

Przybyl left ANI Pharmaceuticals on May 10, 2020. The company is conducting a search for his successor. Board member Pat Walsh is serving as interim president and CEO.

 
  • $4.4 million in total compensation
  • -10.1% change from 2019
  • CEO pay ratio 124.7:1
  • Median compensation $46,642
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $703,350
  • All other $33,831
  • Options exercised $1.8 million
  • Shares vesting $1.2 million
  • Stock change 37%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 22
26
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.

 
  • $4.1 million in total compensation
  • -80.1% change from 2019
  • CEO pay ratio 206:1
  • Median compensation $49,387
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $1.3 million
  • All other $204,707
  • Options exercised $0
  • Shares vesting $1.6 million
  • Stock change 36.5%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 7
27
Headshot of John Stauch

John Stauch

P, CEO of Pentair PLC

Offers sustainable water solutions for residential, commercial, industrial, municipal and agricultural markets.

 
  • $3.6 million in total compensation
  • 12.5% change from 2019
  • CEO pay ratio 108:1
  • Median compensation $59,187
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $37,507
  • Options exercised $1 million
  • Shares vesting $1.7 million
  • Stock change 23.7%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 29
28
Headshot of Hugh Sawyer

Hugh Sawyer

P, CEO of Regis Corp.

Owns, operates and franchises hair salons in 8,000 locations and has an ownership interest in 80 beauty schools operating in 21 states.

 
  • $3.6 million in total compensation
  • 17.3% change from 2019
  • CEO pay ratio 409:1
  • Median compensation $20,626
  • Salary $1 million
  • Bonus $145,802
  • Non-equity IPC $715,431
  • All other $26,946
  • Options exercised $0
  • Shares vesting $1.8 million
  • Stock change 16.6%
  • Fiscal year end: 6/0/2019
  • 2019 Top-50 ranking: 30
29
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

 
  • $3.3 million in total compensation
  • -39.8% change from 2019
  • CEO pay ratio 38:1
  • Median compensation $62,073
  • Salary $0.6 million
  • Bonus $550,000
  • Non-equity IPC $392,448
  • All other $8,650
  • Options exercised $0
  • Shares vesting $1.7 million
  • Stock change -38.7%
  • Fiscal year end: 9/1/2019
  • 2019 Top-50 ranking: 19
30
Headshot of Christopher T. Metz

Christopher T. Metz

CEO of Vista Outdoor Inc.

Makes consumer products for the outdoor and shooting sports markets.

 
  • $3.1 million in total compensation
  • 15.4% change from 2019
  • CEO pay ratio 64:1
  • Median compensation $60,108
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $1.4 million
  • All other $158,561
  • Options exercised $0
  • Shares vesting $541,840
  • Stock change 9.9%
  • Fiscal year end: 3/2/2020
  • 2019 Top-50 ranking: n/a
31
Headshot of Beth A. Wozniak

Beth A. Wozniak

CEO of nVent Electric PLC

Makes enclosures to protect industrial equipment and electronics, thermal management equipment and supplies, and electrical and fastening supplies.

 
  • $2.5 million in total compensation
  • 32.9% change from 2019
  • CEO pay ratio 120:1
  • Median compensation $49,796
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $754,654
  • All other $44,538
  • Options exercised $0
  • Shares vesting $861,813
  • Stock change 17.2%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 37
32
Headshot of Craig Dahl

Craig Dahl

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.

This is partial year compensation for Dahl as CEO of the combined TCF/Chemical. For the CEO pay ratio calculation they annualized Dahl's salary and made other adjustments to get to $5,078,116

 
  • $2.5 million in total compensation
  • -67.8% change from 2019
  • CEO pay ratio 111:1
  • Median compensation $45,637
  • Salary $0.4 million
  • Bonus $0
  • Non-equity IPC $2 million
  • All other $35,515
  • Options exercised $0
  • Shares vesting $0
  • Stock change 32.2%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 16
33
Headshot of Mark Walchirk

Mark Walchirk

P, CEO of Patterson Cos. Inc.

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

 
  • $2.5 million in total compensation
  • 233.4% change from 2019
  • CEO pay ratio 73:1
  • Median compensation $60,645
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $656,250
  • All other $204,558
  • Options exercised $0
  • Shares vesting $764,502
  • Stock change -3.5%
  • Fiscal year end: 4/6/2019
  • 2019 Top-50 ranking: 50
34
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 athrectomy systems (OAS) technology .

 
  • $2.4 million in total compensation
  • 61.7% change from 2019
  • CEO pay ratio 44:1
  • Median compensation $104,524
  • Salary $0.7 million
  • Bonus $0
  • Non-equity IPC $886,210
  • All other $39,790
  • Options exercised $0
  • Shares vesting $812,130
  • Stock change 42.9%
  • Fiscal year end: 6/0/2019
  • 2019 Top-50 ranking: 40
35
Headshot of Barry C. McCarthy

Barry C. McCarthy

P, 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.

 
  • $2.4 million in total compensation
  • 73.9% change from 2019
  • CEO pay ratio 86.7:1
  • Median compensation $61,195
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $521,710
  • All other $71,699
  • Options exercised $0
  • Shares vesting $858,042
  • Stock change 33.3%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
36
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.

 
  • $2.3 million in total compensation
  • 14.7% change from 2019
  • CEO pay ratio 75:1
  • Median compensation $44,100
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $215,308
  • All other $11,000
  • Options exercised $0
  • Shares vesting $1.5 million
  • Stock change -10%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 35
37
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.

MTS announced Graves stepped down as CEO effective May 22, 2020. Graves left to become CEO of South Carolina- based 3D Systems. MTS director Randy Martinez has been appointed interim president and CEO.

 
  • $2.1 million in total compensation
  • 67.8% change from 2019
  • CEO pay ratio 57:1
  • Median compensation $55,799
  • Salary $0.7 million
  • Bonus $0
  • Non-equity IPC $597,544
  • All other $21,117
  • Options exercised $0
  • Shares vesting $726,220
  • Stock change 3.3%
  • Fiscal year end: 9/1/2019
  • 2019 Top-50 ranking: 44
38
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.

 
  • $2 million in total compensation
  • 1.5% change from 2019
  • CEO pay ratio 38:1
  • Median compensation $45,842
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $708,750
  • All other $2,547
  • Options exercised $0.7 million
  • Shares vesting $0
  • Stock change 45%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 34
39
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.

 
  • $2 million in total compensation
  • -15.8% change from 2019
  • CEO pay ratio 37:1
  • Median compensation $48,635
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $210,492
  • All other $41,606
  • Options exercised $0
  • Shares vesting $793,829
  • Stock change -13.8%
  • Fiscal year end: 2/6/2020
  • 2019 Top-50 ranking: 32
40
Headshot of Michael J. Happe

Michael J. Happe

P, CEO of Winnebago Industries Inc.

Based in Iowa but with executive offices in Eden Prairie, a manufacturer of motor homes, travel trailers and Chris-Craft boats.

 
  • $1.9 million in total compensation
  • 0.3% change from 2019
  • CEO pay ratio 53:1
  • Median compensation $52,881
  • Salary $0.7 million
  • Bonus $11,731
  • Non-equity IPC $138,269
  • All other $34,484
  • Options exercised $0
  • Shares vesting $1 million
  • Stock change -12.2%
  • Fiscal year end: 8/6/2019
  • 2019 Top-50 ranking: 36
41
Headshot of Scott T. Frederiksen

Scott T. Frederiksen

CEO of WPT Industrial Real Estate Investment Trust

WPT Industrial is an open-ended real estate investment trust

 
  • $1.9 million in total compensation
  • n/a change from 2019
  • CEO pay ratio
  • Median compensation
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $575,000
  • All other $54,247
  • Options exercised $0.7 million
  • Shares vesting $0
  • Stock change 13.4%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
42
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.

 
  • $1.8 million in total compensation
  • 29.6% change from 2019
  • CEO pay ratio 20:1
  • Median compensation $103,210
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $465,000
  • All other $11,975
  • Options exercised $0
  • Shares vesting $886,454
  • Stock change 1.3%
  • Fiscal year end: 9/1/2019
  • 2019 Top-50 ranking: 41
43
Headshot of Patrick Hawkins

Patrick Hawkins

P, CEO of Hawkins Inc.

Manufactures and distributes bulk and specialty chemicals and other health and nutrition products out of 41 facilities in 19 states,.

 
  • $1.7 million in total compensation
  • 26.4% change from 2019
  • CEO pay ratio 20:1
  • Median compensation $91,452
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $817,086
  • All other $56,873
  • Options exercised $0
  • Shares vesting $351,863
  • Stock change -1.2%
  • Fiscal year end: 3/2/2020
  • 2019 Top-50 ranking: 42
44
Headshot of James A. Blome

James A. Blome

CEO of Calyxt Inc.

A gene editing agriculture company

Blome's bonus included a $400,000 sign-on bonus in 2019 and $476,250 was earned. Blome was named Calyxt CEO in Oct. 2018

 
  • $1.6 million in total compensation
  • 403.4% change from 2019
  • CEO pay ratio
  • Median compensation
  • Salary $0.6 million
  • Bonus $876,250
  • Non-equity IPC $0
  • All other $66,823
  • Options exercised $0
  • Shares vesting $0
  • Stock change -32.3%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
45
Headshot of Brandon Elliott

Brandon Elliott

former CEO of Northern Oil and Gas Inc.

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

Elliott stepped down as CEO of Northern Oil and Gas on Dec. 31, 2019. Elliott's other compensation includes $740,000 cash payment for severance. Excluding the severance payment the CEO pay ratio would have been 4.8 to 1.

 
  • $1.5 million in total compensation
  • 74.8% change from 2019
  • CEO pay ratio 8.2:1
  • Median compensation $230,621
  • Salary $0.4 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $839,721
  • Options exercised $0
  • Shares vesting $265,045
  • Stock change 3.5%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 47
46
Headshot of Mark O. Decker

Mark O. Decker

P, CEO and chief investment officer of Investors Real Estate Trust

A real estate investment trust focused on the ownership, management, acquisition, redevelopment, and development of apartment communities.

 
  • $1.3 million in total compensation
  • 66.5% change from 2019
  • CEO pay ratio 38:1
  • Median compensation $41,913
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $560,476
  • All other $13,750
  • Options exercised $0
  • Shares vesting $310,450
  • Stock change 54.2%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
47
Headshot of Robert C. Biesterfeld, Jr.

Robert C. Biesterfeld, Jr.

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.

 
  • $1.3 million in total compensation
  • -51.4% change from 2019
  • CEO pay ratio 86:1
  • Median compensation $59,086
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $428,895
  • All other $16,800
  • Options exercised $0
  • Shares vesting $0
  • Stock change -4.7%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
48
Headshot of Jerry Baack

Jerry Baack

Ch, P, CEO of Bridgewater Bancshares Inc.

A holding company for Bridgewater Bank, a full-service commercial bank

 
  • $1.2 million in total compensation
  • -7.6% change from 2019
  • CEO pay ratio
  • Median compensation
  • Salary $0.6 million
  • Bonus $480,000
  • Non-equity IPC $94,021
  • All other $32,596
  • Options exercised $0
  • Shares vesting $0
  • Stock change 30.6%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 43
49
Headshot of Timothy Herbert

Timothy Herbert

P, CEO of Inspire Medical Systems Inc.

Developing minimally invasive treatments for obstructive sleep apnea

 
  • $0.9 million in total compensation
  • 1.9% change from 2019
  • CEO pay ratio
  • Median compensation
  • Salary $0.4 million
  • Bonus $0
  • Non-equity IPC $412,383
  • All other $0
  • Options exercised $0
  • Shares vesting $0
  • Stock change 75.6%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 48
50
Headshot of Timothy A. Peterman

Timothy A. Peterman

CEO, interim CFO of iMedia Brands Inc.

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

Peterman returned to iMedia Brands as CEO on May 2, 2019

 
  • $0.8 million in total compensation
  • 20% change from 2019
  • CEO pay ratio
  • Median compensation
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $305,394
  • Options exercised $0
  • Shares vesting $0
  • Stock change -33.6%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: n/a

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.

 
  • $9.3 million in total compensation
  • n/a change from 2019
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $1.5 million
  • All other $113,580
  • Options exercised $0
  • Shares vesting $6.8 million
  • Stock change 0%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
2
Headshot of Catherine Smith

Catherine Smith

strategic advisory and former 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.

Smith retired in October 2019 but agreed to serve as a special advisor through her successor's transition to the CFO role.

 
  • $7.5 million in total compensation
  • 24.9% change from 2019
  • Salary $0.8 million
  • Bonus $360,000
  • Non-equity IPC $636,053
  • All other $154,053
  • Options exercised $0
  • Shares vesting $5.6 million
  • Stock change 56.5%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: n/a
3
Headshot of Corie S. Barry

Corie S. Barry

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.

 
  • $7.5 million in total compensation
  • 17.8% change from 2019
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $1.9 million
  • All other $37,867
  • Options exercised $0 million
  • Shares vesting $4.5 million
  • Stock change 47%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: n/a
4
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.

 
  • $6.9 million in total compensation
  • 92.1% change from 2019
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $1.5 million
  • All other $44,727
  • Options exercised $0.9 million
  • Shares vesting $3.5 million
  • Stock change 55.2%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: 28
5
Generic headshot image

Julie Bushman

EVP International Operations 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.

 
  • $6.2 million in total compensation
  • n/a change from 2019
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $507,681
  • All other $29,170
  • Options exercised $1.6 million
  • Shares vesting $3.3 million
  • Stock change 0%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
6
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Jill S. Wyant

EVP and P-global regions of Ecolab Inc.

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

 
  • $5.5 million in total compensation
  • n/a change from 2019
  • Salary $0.6 million
  • Bonus $0
  • Non-equity IPC $406,253
  • All other $467,172
  • Options exercised $3.1 million
  • Shares vesting $927,510
  • Stock change 0%
  • Fiscal year end: 12/4/2020
  • 2019 Top-50 ranking: n/a
7
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Trish Walker

P-services and home channel 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.

Walker became an executive officer in March 2019

 
  • $4.8 million in total compensation
  • n/a change from 2019
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $840,000
  • All other $206,650
  • Options exercised $0
  • Shares vesting $3 million
  • Stock change 0%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: n/a
8
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.

 
  • $4.2 million in total compensation
  • 28% change from 2019
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $1.8 million
  • All other $84,664
  • Options exercised $0
  • Shares vesting $1.6 million
  • Stock change 13.3%
  • Fiscal year end: 4/2/2019
  • 2019 Top-50 ranking: n/a
9
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Kamy Scarlett

Chief human resources 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.

During fiscal 2020 Scarlett was given a $500,000 bonus for her stewardship over the CEO transition and for maintaining the integrity and effectiveness of the senior leadership team

 
  • $4.1 million in total compensation
  • 20.2% change from 2019
  • Salary $0.8 million
  • Bonus $500,000
  • Non-equity IPC $1.3 million
  • All other $123,146
  • Options exercised $0.1 million
  • Shares vesting $1.2 million
  • Stock change 0%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: n/a
10
Headshot of Renee J. Peterson

Renee J. Peterson

CFO, treasurer, VP 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.

 
  • $3.2 million in total compensation
  • 77.6% change from 2019
  • Salary $0.5 million
  • Bonus $0
  • Non-equity IPC $239,569
  • All other $114,944
  • Options exercised $1.5 million
  • Shares vesting $804,389
  • Stock change 0%
  • Fiscal year end: 10/4/2019
  • 2019 Top-50 ranking: n/a

Non-CEO executives

1
Headshot of Hubert Joly

Hubert Joly

Executive Chairman 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.

 
  • $64.9 million in total compensation
  • 164.7% change from 2019
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $1.4 million
  • All other $170,957
  • Options exercised $41.2 million
  • Shares vesting $21.2 million
  • Stock change 47%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: 4
2
Headshot of Stephen J. Hemsley

Stephen J. Hemsley

former Executive Chairman 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.

In Nov. 2019 Hemsley transitioned from Executive Chairman, an executive position, to chair of the board and non-executive director

 
  • $51.5 million in total compensation
  • -21.6% change from 2019
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $166,265
  • Options exercised $29.8 million
  • Shares vesting $20.6 million
  • Stock change 20%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
3
Headshot of Inge G. Thulin

Inge G. Thulin

former Executive Chairman 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.

 
  • $34.3 million in total compensation
  • 49.8% change from 2019
  • Salary $0.4 million
  • Bonus $0
  • Non-equity IPC $382,259
  • All other $31,476
  • Options exercised $26.3 million
  • Shares vesting $7.2 million
  • Stock change -4.3%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
4
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Steven H. Nelson

former EVP 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.

Steven Nelson retired in June 2019 as EVP and CEO of Unitedhealthcare, Nelson's other compensation includes $6.5 million in severance.

 
  • $18.9 million in total compensation
  • 14.5% change from 2019
  • Salary $0.8 million
  • Bonus $0
  • Non-equity IPC $0
  • All other $6.5 million
  • Options exercised $3.7 million
  • Shares vesting $7.9 million
  • Stock change 20%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
5
Headshot of John J. Mulligan

John J. Mulligan

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.

 
  • $18.6 million in total compensation
  • 61.7% change from 2019
  • Salary $1 million
  • Bonus $450,000
  • Non-equity IPC $795,067
  • All other $1.6 million
  • Options exercised $6.2 million
  • Shares vesting $8.6 million
  • Stock change 61%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: n/a
6
Headshot of Dirk McMahon

Dirk McMahon

CEO-Unitedhealthcare 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.

 
  • $17.6 million in total compensation
  • n/a change from 2019
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $2.5 million
  • All other $70,454
  • Options exercised $5.5 million
  • Shares vesting $8.6 million
  • Stock change 20%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
7
Headshot of John F. Rex

John F. Rex

EVP, CFO 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.

 
  • $13 million in total compensation
  • 26.1% change from 2019
  • Salary $1 million
  • Bonus $0
  • Non-equity IPC $2.5 million
  • All other $126,912
  • Options exercised $0
  • Shares vesting $9.3 million
  • Stock change 20%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
8
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.

 
  • $9.3 million in total compensation
  • n/a change from 2019
  • Salary $0.9 million
  • Bonus $0
  • Non-equity IPC $1.5 million
  • All other $113,580
  • Options exercised $0
  • Shares vesting $6.8 million
  • Stock change 0%
  • Fiscal year end: 12/2/2019
  • 2019 Top-50 ranking: n/a
9
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Don H. Liu

EVP, chief legal and risk 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.

 
  • $7.5 million in total compensation
  • n/a change from 2019
  • Salary $0.7 million
  • Bonus $292,500
  • Non-equity IPC $516,793
  • All other $120,372
  • Options exercised $0
  • Shares vesting $6 million
  • Stock change 56.5%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: n/a
10
Headshot of Catherine Smith

Catherine Smith

strategic advisory and former 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.

Smith retired in October 2019 but agreed to serve as a special advisor through her successor's transition to the CFO role.

 
  • $7.5 million in total compensation
  • 24.9% change from 2019
  • Salary $0.8 million
  • Bonus $360,000
  • Non-equity IPC $636,053
  • All other $154,053
  • Options exercised $0
  • Shares vesting $5.6 million
  • Stock change 56.5%
  • Fiscal year end: 1/5/2020
  • 2019 Top-50 ranking: n/a

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 CEO pay ratio is based on the CEO’s total compensation from the summary compensation table as prescribed by the SEC, which is salary, bonus, cash-based incentive plan compensation, miscellaneous compensation, and the grant date value of new stock options and restricted stock awards. Smaller reporting companies are not required to disclose the pay ratio.

Star Tribune graphic: Patrick Kennedy, Alan Palazzolo, Chase Davis, Thomas Oide