By Sarah Foster
The head of Motorola Solutions Inc. is reaping the financial benefits of leading a well-performing company, analysts and compensation experts said.
The company’s directors raised CEO Gregory Brown’s salary by 27 percent in 2017, a year when Motorola Solutions grew profits and adjusted income, completed multiple acquisitions and launched 85 new products, according to its most recent proxy statement, which was filed on March 28 with the U.S. Securities and Exchange Commission. Last year, Brown complemented a $1.25 million base salary with additional incentives worth $13.81 million, making his total compensation package $15.06 million, the statement said. The Chicago-based company provides telecommunications equipment for public safety officials.
Brown’s total compensation package has nearly doubled since 2014, when he received $7.61 million, according to the company’s 2014 proxy statement. At the same time, Motorola stock price has nearly doubled over the past three years as well, analysts said.
“He’s benefited just as much as shareholders have,” said Keith Housum, managing director and equity research analyst at Northcoast Research.