John D. Erickson served as the President and CEO of Otter Tail Corporation from 2002 until 2011, during which he made a meaningful impact on the company’s strategic direction. He has a solid background in management, having started his career...

John D. Erickson served as the President and CEO of Otter Tail Corporation from 2002 until 2011, during which he made a meaningful impact on the company’s strategic direction. He has a solid background in management, having started his career at Otter Tail Power Company back in 1980. With a bachelor's degree in Business Administration, Erickson climbed the ranks to become CFO before taking the top job. His leadership was characterized by a focus on aligning the company’s goals with performance metrics, particularly in financial areas like earnings per share and return on equity. Interestingly, John was elected to the Board of Directors in 2007 while still serving as CEO, which shows the trust placed in him by his peers. After stepping down in 2011, he continued to contribute his expertise as a board member and advisor, demonstrating his long-term commitment to the company and the community. He also served in various roles that helped bridge connections between corporate strategy and local community interests.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Otter Tail CEOs

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John D. Erickson

Ex-CEO of Otter Tail

Education

Bachelor's degree in Business Administration

Field of Expertise

Business & Management

Sector of Economy

Utilities

Born

January 1, 1962 - 63 years ago

CEO of Otter Tail for

4 years 4 months (Apr 2007 - Sep 2011)

Previous Experience

Executive at Otter Tail Corporation since 2007, previously held various roles in the company.

Rivals

Competitors/colleagues of John D. Erickson

Holdings

See how much did John D. Erickson make over time.

During his time at Otter Tail Corporation, Erickson's financial interests were closely tied to the company's stock performance. In 2007, the year he earned the most, he received about $2.2 million in total compensation, thanks largely to vested stock awards...

During his time at Otter Tail Corporation, Erickson's financial interests were closely tied to the company's stock performance. In 2007, the year he earned the most, he received about $2.2 million in total compensation, thanks largely to vested stock awards that amounted to $799,264. Over the years, his earnings fluctuated due to performance metrics not being met, exemplified by his compensation of around $496,375 in 2009 and 2010, where he did not receive bonuses. In contrast, his well-structured executive compensation package was designed to motivate performance aligned with shareholder interests, which would impact his wealth greatly depending on how well the company did. As he transitioned out of the CEO role, Erickson's financial ties to Otter Tail’s stock fluctuated significantly, reflecting the performance pressures executives face in publicly traded companies.

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Total Stock Sold

$1.76M

OTTR

$1.76M

37,764 OTTR shares

What if they kept their stock?

If John D. Erickson didn't sell their stock, today they would have:
Extra OTTR37,764 shares worth $1.58M.
This is -10.13% and $178.09K less than what they got when they sold the stock.

Charitable Transactions

OTTR

37,764 shares

OTTR

Recent Charitable Transactions

OTTR

2,500 shares

OTTR

Nov 20, 2023

Charity

OTTR

2,000 shares

OTTR

Nov 21, 2022

Charity

OTTR

9,500 shares

OTTR

Nov 17, 2021

Charity

OTTR

2,100 shares

OTTR

Nov 20, 2019

Charity

OTTR

2,300 shares

OTTR

Nov 20, 2018

Charity

OTTR

2,400 shares

OTTR

Nov 20, 2017

Charity

Insider Trading

See recent insider trades of John D. Erickson.

OTTR

1,500 shares

OTTR

Apr 8, 2024

Received

OTTR

$193.40K

OTTR at $77.36/share

Nov 20, 2023

Sale

OTTR

2,500 shares

OTTR

Nov 20, 2023

Charity

OTTR

2,500 shares

OTTR

Nov 20, 2023

Charity

OTTR

1,600 shares

OTTR

Apr 17, 2023

Received

OTTR

$112.62K

OTTR at $56.31/share

Nov 21, 2022

Sale

OTTR

2,000 shares

OTTR

Nov 21, 2022

Charity

OTTR

2,000 shares

OTTR

Nov 21, 2022

Charity

OTTR

1,700 shares

OTTR

Apr 11, 2022

Received

OTTR

9,500 shares

OTTR

Nov 17, 2021

Charity

Compensation History

See how much did John D. Erickson make over time.

John D. Erickson's compensation during his time as CEO of Otter Tail Corporation showcases the highs and lows of executive pay tied to performance. In 2011, his total compensation peaked at approximately $1.42 million, with a salary of $469,583 and a substantial bonus of $794,050, reflecting his success in meeting certain financial targets. However, there were years, such as 2009 and 2010, when he earned just about $496,000 due to unmet performance metrics leading to no bonuses. His compensation structure was clearly designed to motivate high performance, yet it highlighted the pressure executives face in delivering results. Other compensations included health savings contributions and a notable severance payment for unused time off, demonstrating the complexities involved in executive payments. Erickson's approach balanced attracting talent with performance alignment to shareholders' profits.

Year

2011

Total Compensation

$1.42M

Salary

$469.58K

Board Justification

The compensation philosophy is designed to attract, retain, and motivate executives by aligning their compensation with performance metrics and shareholder interests.

Bonus

$794.05K

Board Justification

The bonus was based on the performance of Otter Tail Corporation against financial targets and individual performance metrics.

Other

$159.24K

Board Justification

Other compensation includes health savings account contributions and a severance payment of $914,661 for unused paid time off.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock was vested in 2011 as the stock grants were not reported as vested in this year.

Performance Metrics

The performance metrics include corporate earnings per share, return on equity, cash flow from operations, and safety performance.

Other Otter Tail CEOs

Here are other CEOs of Otter Tail

Edward J. (Jim) McIntyre

Ex-CEO of Otter Tail

January 2012 - April 2015