Kewaunee Scientific CEO David M. Rausch Received 64% Increase in Compensation

7/22/18

By Chris Roush, NC BIZ News

The chief executive officer of Kewaunee Scientific Corp. received a 64 percent increase in his total compensation during the company’s fiscal year 2018.

David M. Rausch received $935,138 in total compensation, up from $570,359 in total compensation during the 2017 fiscal year, according to a filing Friday with the Securities and Exchange Commission.

His base salary rose slightly to $386,000 in 2018 from $382,333.

However, he received stock awards of $215,773 in 2018 after not receiving any stock awards the previous year. And his nonequity incentive plan compensation rose to $280,079 in 2018 from $96,520 in 2017.

During the company’s 2018 fiscal year, which ended April 30, Kewaunee reported revenue of $158.1 million, up from revenue of $138.6 million. Net income also rose to $5.2 million from $4.5 million.

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.

Other executives of the company also received compensation increases.

Thomas D. Hull III, the chief financial officer, received total compensation of $516,745 in 2018, up 39 percent from the $371,689 in total compensation he received in 2017.

Dana L. Dahlgren, the vice president of sales and marketing, received total compensation of $436,578, up 49.6 percent from $291,898 in total compensation in 2017.

Founded in 1906, Kewaunee Scientific designs, manufactures and installs laboratory, health care and technical furniture products.

Kewaunee headquarters are located in Statesville, North Carolina, but it has a manufacturing facility in Bangalore, India, serving the Asian markets. The company also has subsidiaries in Singapore and India.

Its annual meeting will be held Aug. 29 in Chicago.

Kewaunee’s shares rose 20 cents to $33.35 in Friday morning trading.

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