Kewaunee Scientific CEO Received 25-percent Rise in Compensation

7/23/17

By Chris Roush, NC BIZ News

Kewaunee Scientific Corp. increased the total compensation of its chief executive office by 25 percent during its 2017 fiscal year, according to a filing Friday with the Securities and Exchange Commission.

David M. Rausch received $576,526 in total compensation during the year, up from $460,904 during the 2016 fiscal year. The Statesville-based company’s fiscal year ends April 30.

Rausch’s base salary increased 6.2 percent to $382,333 from $360,000 during the year. His nonequity incentive plan compensation more than tripled to $96,520 from $31,080 during the same time period.

During the 2017 fiscal year, the company reported revenue of $138.6 million, a 7.7 percent increase for the year. Its net income was $4.5 million, an 18.8 percent increase.

Rausch has been CEO since July 1, 2013, and served as president and chief operating officer since March 2012. He joined the company in March 1994 as manager of estimating and was promoted to Southeast regional sales manager in December 1996.

Thomas D. Hall III, the company’s chief financial officer, received a 43.3 percent increase in total compensation to $371,743 in the 2017 fiscal year from $259,416 in the 2016 fiscal year.

Hall joined the company, which builds furnishings and workstations for scientific laboratories, on Nov. 2, 2015.

The company’s annual meeting will be held Aug. 30 in Chicago.

Kewaunee’s shares closed Friday at $25.30, up 24 cents.

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