Sundar PichaiSundar Pichai earned $164M in 2023
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Charles S. MacFarlane

Ex-CEO of Otter Tail

Education

Master's degree in Business Administration

Field of Expertise

Business & Management - Business Management

Born

January 1, 1961 - 64 years ago

Economy Sector

Utilities

Tenure

8 years 9 months (Apr 2015 - Jan 2024)

Previous Experience

Various executive roles within Otter Tail Corporation since joining in 2000.

Charles S. MacFarlane is the President and CEO of Otter Tail Corporation, having taken on this role in April 2015. With a master's degree in business administration and significant experience in the utility sector, he has focused on aligning the...

Year

2022

Total Compensation

$1.61M

Salary

$775.00K

Board Justification

The compensation philosophy focuses on attracting, retaining, and motivating highly qualified executive officers, with a significant portion of pay at risk based on performance metrics.

Bonus

$147.25K

Board Justification

Bonuses paid to Mr. MacFarlane were based on the achievement of individual goals established at the beginning of the year, and individual performance as determined by the Compensation and Human Capital Management Committee, subject to ratification by the independent members of the Board of Directors.

Other

$689.58K

Board Justification

Other compensation includes contributions to the 401(k) Retirement Savings Plan, contributions under the Employee Stock Ownership Plan, and other benefits.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock grants vested in 2022 as the focus is on performance shares and restricted stock units that vest over time.

Performance Metrics

Performance metrics include Corporate Earnings Per Share, Corporate Return on Equity, Electric Platform Net Income, Electric Platform Return on Equity, and Manufacturing Platform Net Income.