Middle Market Millionaires
If the Occupy Wall Street movement has you thinking that only Wall Street titans earn millions, think again. Middle market CEOs – presiding over companies worth far less than any in the S&P 500 – are quietly getting rich.
Wall Street may have propagated the myth that financial wizardry is a prerequisite for wealth, but these CEOs prove otherwise – earning handsome salaries for running companies that provide tangible products like clothing, housewares, and school supplies.
The CEOs listed here run firms included in the S&P600 Small Cap Index, a broad-based index of publicly traded small cap stocks. And in 2010, they each earned over a million for doing it, according to annual reports.
Click ahead to see executives leading middle market companies--and becoming millionaires in the process.
By Jennifer Leigh Parker
Posted 27 October 2011
Kirk Benson
CEO, Headwaters (HW)
Industry: Specialty chemicals. The company, based in Utah, provides products and services to the construction and energy industries.
Company Market Cap: $101 million
2010 Compensation: $1.94 million
Dr. Elazar Rabbani
CEO, Enzo Biochem (ENZ)
Industry: Biotechnology. This New York based company is a provider of research tools and test services to the medical community.
Company Market Cap: $106 million
2010 Compensation: $1.18 million
Steven Anderson
CEO, Cryolife (CRY)
Industry: Medical equipment. Based in Georgia, this company is a medical device provider.
Company Market Cap: $130 million
2010 Compensation: $1.4 million
David Zanden
CEO, School Specialty (SCHS)
Industry: Educational Suppliers. The company, based in Wisconsin, provides educational resources to pre-kindergarten through twelfth-grade classrooms.
Company Market Cap: $137 million
2010 Compensation: $2 million
Robert Schottenstein
CEO, M/I Homes (MHO)
Industry: Home construction. This Ohio-based company builds single-family homes.
Company Market Cap: $144 million
2010 Compensation: $1.75 million
Kathleen Mason
CEO, Tuesday Morning (TUES)
Industry: Specialty Retailers. The company, headquartered in Texas, is a retailer of home décor and housewares.
Company market cap: $156 million
2010 Compensation: $2.43 mm
Joseph Boshart
CEO, Cross Country Healthcare (CCRN)
Industry: Business Training & Employment Agency. This Florida-based company provides healthcare staffing services.
Company market cap: $159 million
2010 Compensation: $2.4 million
Patrick Ramsey
CEO, Multimedia Games Holding (MGAM)
Industry: Gambling. This Texas-based company manufactures gaming systems such as video lottery terminals and electronic scratch ticket systems.
Market Cap: $169 million
2010 Compensation: $2.36 million
Chris Oddleifson
CEO, Independent Bank (INDB.O)
Industry: Banking. The company is a community commercial bank based in Massachusetts.
Company Market Cap: $566 million
2010 Compensation: $1.98mm
Douglas Milroy
CEO, G & K Services (GKSR)
Industry: Clothing. Based in Minnesota, the company provides uniforms for small and midsized firms in virtually all industries.
Market Cap: $571 million
2010 Compensation: $2.29mm
