R. Adam Norwitt
Also at Amphenol Corp
About
R. Adam Norwitt is a seasoned executive currently serving as the President and Chief Executive Officer of Amphenol Corporation, known for his strong leadership and international perspective. At 54 years old, he has navigated a successful career path marked by progressive leadership roles and strategic expertise that has been integral to the company’s growth and market diversification.
Before assuming his current role, he gained extensive operational and management experience through various positions such as Group General Manager, General Manager, and Business Development Manager, as well as senior roles in product management and operations. His career progression at the company, which spans approximately 25 years, highlights his deep understanding of the business and commitment to driving value through well-executed strategy and technology innovation.
Educationally, he laid the foundation for his successful career by earning a Bachelor of Science degree in International Politics, a Juris Doctor, and an MBA, experiences that not only enriched his expertise in law and business but also provided him with a global perspective through studies in multiple countries. His multilingual abilities and international exposure have further bolstered his capacity to lead in diverse markets and foster a culture of innovation and operational excellence.
$APH Performance Under R. Adam Norwitt
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Amphenol Corporation | Chief Operating Officer | 2007-2008 | Role ended upon subsequent promotion |
| Amphenol Corporation | Senior Vice President and Group General Manager, Worldwide RF and Microwave Products Division | 2006 | N/A |
| Amphenol Corporation | Vice President and Group General Manager, Worldwide RF and Microwave Products Division | 2004-2006 | N/A |
| Amphenol Corporation | Group General Manager / General Manager / Business Development Manager | N/A | Held various roles over approximately five years in Asia |
| Gibson, Dunn & Crutcher LLP | Corporate Lawyer | N/A | Prior experience before joining Amphenol |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,455,000 | 2023 regular payroll | Fixed base salary for 2023 |
| Pay for Covenant Not to Compete | $1,455,000 | Post-termination (up to 2 years at the Company's discretion) | Represents 50% of base salary |
| Company-Funded Disability | $727,500 | Based on claim during 2023 | 100% of base salary for a six-month period |
| 401(k) Company Contribution | $21,150 | Regular contribution schedule | 401(k) company contribution for 2023 |
| DC SERP Company Contribution | $343,350 | As per deferred compensation plan | Deferred compensation supplemental retirement plan |
| Imputed Compensation for Group Life Insurance | $5,382 | Included in annual compensation | For group term life insurance above $50,000 coverage |
Performance Compensation
Quantitative Performance Metrics
| Metric | Threshold | Target | Maximum | Weighting |
|---|---|---|---|---|
| Revenue Growth (%) | 0% | 7% | 17.5% | 50% |
| Adjusted Diluted EPS Growth (%) | 0% | 11% | 27.5% | 50% |
Incentive Plan Multiplier
| Metric | Threshold | Target | Maximum |
|---|---|---|---|
| Incentive Plan Multiplier | 0% | 100% | 200% |
Evaluation Period and Actual Results
- Evaluation Period: Fiscal 2023; performance measured year-over-year.
- Actual Results:
- Constant Currency Net Sales: Slight decline.
- Adjusted Diluted EPS: Increased by $0.01 per share compared to 2022.
- Outcome: No cash incentive payment awarded in 2023 due to underperformance.
Stock Option Awards
| Detail | Value |
|---|---|
| Grant Date | May 19, 2023 |
| Number of Options Awarded | 425,973 options |
| Exercise Price | $75.80 per share |
| Grant Date Fair Value | $9,098,783 |
| Vesting Schedule | Not specified |