John B. Gerlach, Jr. has been a key figure at Lancaster Colony Corporation since 1985 and served as CEO from 1997 until mid-2017. He holds a bachelor’s degree and has over 30 years of experience in executive roles within the company. What's noteworthy is that during his leadership, Gerlach made significant decisions to realign the company towards a more focused food strategy, which greatly impacted its direction. He owns about 30.14% of the company's shares, indicating a strong personal stake in the company's success. When it comes to compensation, he has a unique structure; he has not participated in annual cash incentives due to his substantial equity ownership, which reflects a belief in aligning executive pay with long-term shareholder interests. Now as Executive Chairman of the Board, he continues to influence Lancaster Colony's strategies and decisions.

Lancaster ColonyJanuary 2001 - June 2017

Current Market Cap

$4.94B

Number of Employees

3.4K

Total Compensation

2013 - 2017

Trending down by -25.31% last year

Showing total compensation for the last 2013 - 2017

Stock

Down by -6.67% last year

Salary

Down by -29.58% last year

Bonus

Up by 0.00% last year

Other

Down by -7.63% last year

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001

Year

2017

Total Compensation

$913.40K

Salary

$700.00K

Board Justification

The compensation philosophy is focused on 'pay for performance' to align the interests of executives with long-term shareholder value.

Bonus

$0.00

Board Justification

Mr. Gerlach does not participate in the annual cash incentive program.

Other

$17.40K

Board Justification

This amount consists of (A) $1,200 in life insurance premium payments, and (B) $16,198 of perquisites and other personal benefits in the aggregate consisting of (i) matching contributions to our 401(k) Savings Plan, (ii) payment of travel insurance premiums, (iii) dividends on unvested restricted stock, and (iv) payment of business-related professional and filing fees.

Restricted Stock

$196.01K(1.63K restricted stock)

Board Justification

These shares of restricted stock were granted on June 30, 2017 pursuant to our 2015 Omnibus Incentive Plan. The restricted stock is expected to fully vest on June 30, 2020.

Performance Metrics

The performance metrics for determining compensation include the achievement of certain financial objectives.

SEC Filing

From October 10, 2018

View SEC Filing

John B. Gerlach, Jr.

Ex-CEO of Lancaster Colony

Education

Bachelor's degree from an accredited institution

Field of Expertise

Business & Management

Born

January 1, 1952 - 72 years ago

Is Founder?

Tenure

16 years 5 months (Jan 2001 - Jun 2017)

Previous Experience

Various roles at Lancaster Colony Corporation

Predecessor

None

Successor

David A. Ciesinski

July 2017 - Present