Ronald L. Hoffman served as the CEO of Dover Corporation from January 1, 2005, until his retirement on November 30, 2008. Before becoming CEO, he was the President and COO, contributing significantly to the company’s growth in that role. Notably,...
Ronald L. Hoffman served as the CEO of Dover Corporation from January 1, 2005, until his retirement on November 30, 2008. Before becoming CEO, he was the President and COO, contributing significantly to the company’s growth in that role. Notably, Hoffman was with Dover for many years, rising through various leadership positions, including heading Dover Resources and overseeing Tulsa Winch, which Dover acquired. One interesting aspect of Hoffman’s tenure is his focus on performance-based compensation, with bonuses tied to measurable metrics like earnings per share and operating earnings. In 2008, his total compensation reached $4.1 million, including a hefty bonus of $2.93 million. After his retirement, he was allowed to keep his stock options and performance awards longer than usual, reflecting his impact on the company. Hoffman’s legacy at Dover is marked by strategic moves that aligned management incentives with company performance, ensuring that shareholder interests were prioritized throughout his leadership. His journey highlights the importance of leadership experience and performance alignment in corporate success.