Brett A. Cope

CEO of Powell Industries

Education

Bachelor's degree in Applied Science from Miami University of Ohio

Field of Expertise

Technology & Engineering - Engineering

Economy Sector

Industrials

Current Tenure

8 years 5 months (Oct 2016 - Present)

Previous Experience

20 years at ABB, an international provider of power and automation products

Brett A. Cope is the current CEO and Chairman of Powell Industries, a company he joined in 2011. Brett has a Bachelor’s degree in Applied Science from Miami University of Ohio, and his background lies in engineering and sales. Before becoming CEO, he held several roles at Powell, including Senior Vice President and Chief Operating Officer, showcasing his rise through the ranks. Under his leadership, the company has seen impressive financial achievements, with his total compensation for 2023 being about $2.9 million mainly tied to performance metrics like EBITDA. Brett's experience extends back 20 years at ABB Ltd, where he managed global accounts, particularly with ExxonMobil. This deep industry knowledge enables him to steer Powell Industries effectively.

Year

2023

Total Compensation

$2.40M

Salary

$540.80K

Board Justification

The compensation philosophy aims to attract and retain critical executive talent, motivate behaviors that align with stockholders’ interests, and pay for performance, with a significant portion of pay being variable and contingent on performance.

Bonus

$0.00

Board Justification

The bonus is based on the company's performance metrics, specifically EBITDA and Working Capital, with a performance multiplier of 200% for exceeding targets in fiscal 2023.

Other

$57.92K

Board Justification

Includes matching contributions to the 401(k) plan, automobile allowance, executive physical allowance, and supplemental executive life and disability insurance.

Restricted Stock

$1.80M(21.7K RSU)

Board Justification

Performance-vesting restricted stock units granted on October 1, 2022, vesting based on the company's achievement of EBITDA and safety performance objectives over a three-year period ending September 30, 2025.

Performance Metrics

The performance metrics for fiscal 2023 included EBITDA and Working Capital, with actual performance exceeding established goals.

Thomas W. Powell

Ex-CEO of Powell Industries

September 2011 - October 2016