Michael J. Schmidtlein has been a significant figure at EnerSys, where he served as the Chief Financial Officer before his planned retirement in March 2022. With a strong education background in Accounting from the University of Delaware, he has spent...
Michael J. Schmidtlein has been a significant figure at EnerSys, where he served as the Chief Financial Officer before his planned retirement in March 2022. With a strong education background in Accounting from the University of Delaware, he has spent many years navigating the complex world of finance. In 2022, his total compensation reached about $2.36 million, a notable increase from just $562,277 in 2021 due to better performance metrics achieved under his leadership. Notably, the company's compensation strategy is performance-based, meaning his hefty paychecks are tied closely to how well the organization does. During his time at EnerSys, there were fluctuations in his financial rewards, yet he remained focused on aligning executive pay with company success—like aiming to motivate everyone to work towards common goals. He didn't participate in stock options or equity awards and focused more on cash compensation instead which suggests a practical approach to wealth management. Schmidtlein's role involved critical metrics like operating earnings and working capital management, making his involvement crucial to the company's financial health. His experience in finance and executive roles has shaped the strategies at EnerSys, demonstrating his ability to lead effectively in a challenging environment.