Sundar PichaiSundar Pichai earned $164M in 2023
I

Dr. Valentin P. Gapontsev

Founder and Ex-CEO of IPG Photonics

Education

Ph.D. in Physics

Born

September 22, 1939 - 85 years ago

Economy Sector

Technology

Tenure

21 years 9 months (Jan 2000 - Oct 2021)

Previous Experience

Founder and long-time Chairman of IPG Photonics Corporation; held various executive positions in optics and laser technology.

Dr. Valentin P. Gapontsev, born in 1939 in Russia, is the co-founder of IPG Photonics, a leader in high-performance fiber lasers. He holds a Ph.D. in Physics, specializing in optics, and has been influential in making significant advancements in laser...

Year

2021

Total Compensation

$980.92K

Salary

$846.15K

Board Justification

The compensation philosophy focuses on pay-for-performance, accountability for annual and long-term performance, alignment with stockholders’ interests, and providing competitive pay to attract and retain executives.

Bonus

$0.00

Board Justification

No bonus was awarded for 2021 as Dr. Gapontsev transitioned to Executive Chair and did not participate in the annual incentive plan.

Other

$134.76K

Board Justification

Other compensation includes premiums paid for group life insurance, the expense of an automobile and driver provided for transportation, and a one-time cash payment for accrued but unused paid time following his death.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards were granted to Dr. Gapontsev in 2021 due to his significant ownership of Company stock.

Performance Metrics

The performance metrics for the CEO's compensation were based on the achievement of challenging corporate goals, including annual net sales and profitability.