Alexander M. Cutler was the CEO of Eaton Corporation until 2016. He started working at Eaton in 1975 and climbed the ranks to lead the company. During his tenure, he emphasized performance-based pay, aiming to align his interests with the...

Number of Employees

94K

Year

2016

Total Compensation

$9.28M

Salary

$541.67K

Board Justification

The compensation philosophy is designed to attract, motivate, reward, and retain highly qualified executives capable of creating and sustaining value for shareholders over the long term, with a significant portion of compensation being performance-based.

Bonus

$0.00

Board Justification

The named executive officers were not entitled to receive 'Bonus' payments for 2016 as defined under the disclosure rules as discretionary payments that are not based on any performance criteria.

Other

$143.00K

Board Justification

Other compensation includes reimbursement for financial planning, personal use of company aircraft, and contributions to retirement plans.

Restricted Stock

$8.59M(41.5K RSU)

Board Justification

The stock awards that vested in 2016 include restricted stock units and performance share units granted in prior years that were earned based on performance metrics.

Performance Metrics

The performance metrics for 2016 included EPS growth and Cash Flow Return on Gross Capital (CFR) goals.

SEC Filing

From March 17, 2017

Alexander M. Cutler

Ex-CEO of Eaton Corporation

AM

Education

Bachelor's degree from the University of Michigan; MBA from Harvard Business School

Field of Expertise

Business & Management

Born

May 1, 1951 - 73 years ago

Is Founder?

No

Tenure

15 years 9 months (Aug 2000 - May 2016)

Previous Experience

Joined Eaton in 1975 and held various senior management positions.