The Public Record: Which southeastern Wisconsin companies pay board directors the most?

Berkshire Hathaway chairman Warren Buffett called attention to the growing compensation of board directors in his annual shareholder letter.

“Director compensation has now soared to a level that inevitably makes pay a subconscious factor affecting the behavior of many non-wealthy members,” Buffett noted.

He pointed out that as a director of Portland Gas Light in the 1960s he made $100 annually while directors now making $250,000 to $300,000 “for board meetings consuming a pleasant couple of days six or so times a year” now make three to four times the median annual household income in the U.S.

Buffett did note the work of directors has become more complicated, but also pointed out that directors often don’t have incentives to challenge chief executive officers and company leadership.

“When seeking directors, CEOs don’t look for pit bulls,” Buffett wrote. “It’s the cocker spaniel that gets taken home.”

Among southeastern Wisconsin companies tracked by BizTimes Milwaukee, annual director compensation – comprised of cash and stock – ranges from $28,500 on the low end at Koss Corp., to $415,000 for the highest paid Fiserv Inc. director.

On average, the lowest paid director at the 33 companies with available data makes $181,747 for board service. The average highest paid director makes $251,351 annually.

Below is a list of area companies with the highest director compensations.

Southeastern Wisconsin Public Company Director Compensation