Donald E. Washkewicz led Parker-Hannifin Corporation as CEO from 2001 until 2015. During his time, he was known for his strong focus on performance-based pay, which linked executive compensation directly to the company's success. This alignment fostered growth, resulting in...

Donald E. Washkewicz led Parker-Hannifin Corporation as CEO from 2001 until 2015. During his time, he was known for his strong focus on performance-based pay, which linked executive compensation directly to the company's success. This alignment fostered growth, resulting in Parker-Hannifin reaching record sales and profits. Under his management, the company implemented the "Win Strategy," which emphasized financial metrics like free cash flow margin and return on net assets. In 2014, his total compensation peaked at over $15 million, with significant bonuses reflecting Parker-Hannifin's impressive performance. Notably, Washkewicz didn't rely heavily on stock options, opting instead for cash incentives to drive results. He also played a pivotal role in the transition of leadership in 2015 when he stepped down as CEO but continued as Chairman. His career highlights the impact of tying leadership rewards to company performance, ensuring a mutually beneficial outcome for both executives and shareholders.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Parker-Hannifin CEOs

P

Donald E. Washkewicz

Ex-CEO of Parker-Hannifin

Sector of Economy

Industrials

Born

July 30, 2024 - 1 years ago

CEO of Parker-Hannifin for

13 years 7 months (Jul 2001 - Feb 2015)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Donald E. Washkewicz

I

Vicente Reynal

CEO of Ingersoll Rand

2023 Compensation

Stock

$0.00

Salary

$1.13M

Bonus

$3.43M

Other

$175.95K

Total Holdings

$49.37M

D

Richard J. Tobin

CEO of Dover

2023 Compensation

Stock

$3.25M

Salary

$1.29M

Bonus

$2.00M

Other

$207.19K

Total Holdings

$104.20K

A

David A. Zapico

CEO of Ametek

2023 Compensation

Stock

$0.00

Salary

$1.36M

Bonus

$788.80K

Other

$566.38K

Total Holdings

$11.28M

I

Nicholas Fanandakis

CEO of ITT

2023 Compensation

Stock

$0.00

Salary

$1.09M

Bonus

$0.00

Other

$158.98K

Total Holdings

$3.19M

Holdings

See how much did Donald E. Washkewicz make over time.

Washkewicz's holdings reflected his commitment to Parker-Hannifin. Throughout his tenure, his net worth fluctuated significantly based on stock performance. In 2014, much of his wealth was tied to the company's stock, as he had stock incentives that vested at a...

Washkewicz's holdings reflected his commitment to Parker-Hannifin. Throughout his tenure, his net worth fluctuated significantly based on stock performance. In 2014, much of his wealth was tied to the company's stock, as he had stock incentives that vested at a high value. Despite this, he shied away from stock options, focusing instead on bonuses that aligned with the company's financial achievements. His biggest wealth moments came when Parker-Hannifin hit record profits, showcasing the effectiveness of his performance-based strategy.

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Total Stock Sold

$2.13M

PH

$2.13M

18,233 PH shares

What if they kept their stock?

If Donald E. Washkewicz didn't sell their stock, today they would have:
Extra PH18,233 shares worth $3.98M.
This is 86.56% and $1.84M more than what they got when they sold the stock.

Charitable Transactions

PH

653,553 shares

PH

Recent Charitable Transactions

PH

11,272 shares

PH

Oct 21, 2016

Charity

PH

225,613 shares

PH

Jan 20, 2016

Charity

PH

42,922 shares

PH

Apr 30, 2015

Charity

PH

850 shares

PH

Sep 9, 2014

Charity

PH

230,597 shares

PH

Jan 2, 2014

Charity

PH

145 shares

PH

Dec 9, 2013

Charity

Insider Trading

See recent insider trades of Donald E. Washkewicz.

PH

11,272 shares

PH

Oct 21, 2016

Charity

PH

3,758 shares

PH

Oct 21, 2016

Charity

PH

$2.13M

PH at $117.01/share

Apr 27, 2016

Sale

PH

38,624 shares

PH

Apr 22, 2016

Received

PH

967 shares

PH

Jan 20, 2016

Received

PH

225,613 shares

PH

Jan 20, 2016

Charity

PH

220,706 shares

PH

Jan 20, 2016

Charity

PH

38,590 shares

PH

Apr 30, 2015

Received

PH

42,922 shares

PH

Apr 30, 2015

Charity

PH

230 shares

PH

Apr 30, 2015

Charity

Compensation History

See how much did Donald E. Washkewicz make over time.

During his time at Parker-Hannifin, Washkewicz's compensation structure was heavily focused on performance. In 2014, he received the highest pay of his tenure, exceeding $15 million, mainly through bonuses linked to the company's performance metrics. His salary started at around $614,250 and saw significant increases due to the company's success. Interestingly, while many CEOs lean on stock options for wealth, Washkewicz preferred cash bonuses that tied directly to annual metrics. His approach ensured that as Parker-Hannifin thrived, so did his bonuses, reflecting a strategy designed to motivate executive performance in alignment with shareholder interests. This strategy paid off, as it helped guide the company through growth phases, demonstrating a clear connection between leadership incentives and company success.

Year

2015

Total Compensation

$1.43M

Salary

$485.00K

Board Justification

The compensation philosophy is designed to align executive compensation with performance metrics that drive the company's long-term growth and shareholder value.

Bonus

$910.15K

Board Justification

The bonus structure includes Target Incentive Bonuses and General RONA Bonuses based on performance metrics for fiscal year 2016.

Other

$35.36K

Board Justification

Includes contributions to defined contribution plans and other compensation such as life insurance premiums.

Restricted Stock

$0.00(0 N/A)

Board Justification

No LTIP Award shares were granted to Mr. Washkewicz during fiscal year 2016 as he retired on December 31, 2015.

Performance Metrics

Performance metrics include free cash flow margin and return on net assets.

Other Parker-Hannifin CEOs

Here are other CEOs of Parker-Hannifin

Thomas L. Williams

Ex-CEO of Parker-Hannifin

February 2015 - January 2023