Robert J. Willett
Also at Cognex Corp
About
Robert J. Willett, currently 56 years old , has built an impressive career marked by progressive leadership roles in the technology and industrial sectors. Beginning his journey at CGNX in June 2008, he quickly established himself as a key leader by taking charge of the Modular Vision Systems Division and later advancing the company through his promotion in 2010.
His solid educational foundation, having earned a Bachelor of Arts from Brown University and a Master of Business Administration from Yale University , has been pivotal in shaping his strategic vision and analytical acumen. This educational background has underpinned his approach to driving innovation and operational excellence in every role he has undertaken.
Beyond his technical and professional achievements, his career also includes significant contributions at Danaher Corporation and his previous executive experience running Willett International Ltd. These experiences have enriched his perspective, enabling him to lead CGNX with a blend of strategic insight and practical expertise, while also serving on the board of Clean Harbors, Inc..
$CGNX Performance Under Robert J. Willett
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Cognex Corporation (CGNX) | President and Chief Operating Officer | 2010 - 2011 | Previous leadership role before promotion to CEO |
| Cognex Corporation (CGNX) | President of the Modular Vision Systems Division | 2008 - 2010 | Initial leadership role at CGNX |
| Danaher Corporation | Vice President of Business Development and Innovation, Product Identification Business Group | N/A | Held prior to joining CGNX |
| Danaher Corporation | President of Videojet Technologies | N/A | Videojet Technologies is known for coding and marking products |
| Willett International Ltd. | Chief Executive Officer | N/A | Company was sold to Danaher Corporation and later merged with Videojet Technologies |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Clean Harbors, Inc. | Director | N/A | N/A |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $676,000 | Annual | Fixed annual base salary |
| All Other Compensation | $11,443 | Annual | Includes benefits such as basic group term life insurance, basic accidental death and dismemberment insurance, 401(k) employer match, tuition reimbursement, and Perseverance Awards |
Performance Compensation
Annual Company Bonus Program
| Metric | Details |
|---|---|
| Target Bonus | $1,075,000 |
| Performance Metric | Operating Margin with a target of 24.5%, an actual result of 16.6%, and a minimum of 15.9% |
| Payout Range | 0%-350% of target bonus based on performance |
| Evaluation Period | 2023 |
Performance-Based Restricted Stock Units (PRSUs)
| Metric | Details |
|---|---|
| Target Shares | 46,033 |
| Threshold Shares | 23,017 (50% of target) |
| Maximum Shares | 69,050 (150% of target) |
| Performance Metric | Total Shareholder Return (TSR) percentile relative to the S&P Composite 1500 Electronic Equipment, Instruments & Components index |
| Vesting Date | February 21, 2026 |
| Grant Date & Fair Value | February 21, 2023; Fair Value: $2,065,040 |
Stock Options
| Metric | Details |
|---|---|
| Grant Date | February 21, 2023 |
| Fair Value | $4,133,598 |
| Exercise Price | $47.21 per share |
| Vesting Schedule | 5-year time-based vesting with equal annual installments |