Who Were The 101 Highest-Paid Channel Execs In 2016?
Submitted by Michael Novinson on
54. Michael McAndrew, Black Box: $2.78M
Position: President and CEO
Stock Award: $1.08M
Salary: $550,000
Option Award: $464,000
Other Compensation: $442,000
Bonus: $193,000
Deferred Compensation: $54,000
McAndrew spent 15 years at Black Box, and became CEO in April 2013. McAndrew stepped down on Feb. 28, 2016, following a rocky sales force restructuring.
The fiscal year for Lawrence, Penn.-based Black Box, No. 37 on the CRN SP 500, ended March 31, 2016, with sales dropping 8 percent to $912.7 million and the company recording a $171.1 million net loss, compared to a profit of $15.3 million the year prior. Black Box's stock price fell 37.4 percent to $13.06 per share between the start of the company's 2016 fiscal year.
Other compensation for McAndrew included a $413,000 severance payment, a $29,000 contribution to his multi-employer pension plan, as well as life insurance premiums.