Rainer M. Blair
Also at Danaher Corp
About
Rainer M. Blair has built a distinguished career at Danaher, having joined the company in 2010 and progressively taking on roles with increasing responsibility. Starting with various general management positions, he advanced to Vice President - Group Executive and Executive Vice President before being promoted to President and CEO in September 2020.
In addition to his extensive corporate experience, he brings a diverse background and a global perspective to his role. His leadership is informed by his service in the U.S. Army and his experience living and working on three continents, which has contributed to his deep multi-cultural expertise.
Under his guidance, Danaher has embarked on significant strategic initiatives, including transforming its portfolio into a life sciences and diagnostics innovator. His forward-looking approach focuses on driving sustainable growth, expanding margins, and enhancing cash flow, illustrating his commitment to both operational excellence and strategic innovation.
$DHR Performance Under Rainer M. Blair
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Danaher Corporation | Executive Vice President | January 2017 to September 2020 | Held position before promotion to CEO |
| Danaher Corporation | Vice President - Group Executive | March 2014 to January 2017 | Held position before subsequent EVP role |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Salary | $1,300,000 | Annual (2023) | Fixed base salary for 2023 |
| Company Contributions to 401(k) | $22,960 | As specified in 2023 plan | Contribution to employee 401(k) plan |
| Company Contributions to EDIP | $312,000 | As specified in 2023 plan | Executive Deferred Incentive Plan |
Performance Compensation
Annual Cash Incentive Compensation
| Metric | Value | Additional Details |
|---|---|---|
| Performance Metrics | Core Revenue Growth, Operating Profit Margin Expansion, Earnings Per Share, Free Cash Flow, Qualitative goals | Metrics tied to fiscal performance and strategic objectives including Veralto Spin-Off and business integration |
| Threshold Payout | $1,300,000 | Minimum performance level required |
| Target Payout | $2,600,000 | Expected performance payout level |
| Maximum Payout | $5,200,000 | Cap on payout achievement |
| Evaluation Period | Fiscal Year 2023 | Performance measured over the 2023 fiscal year; Grant and approval date on May 9, 2023 |
| Vesting | N/A | Cash incentive awards are paid out following the performance evaluation without vesting conditions |
Performance Stock Units (PSUs)
| Detail | Value | Additional Details |
|---|---|---|
| Grant Date | February 24, 2023 | PSU awards granted on this date |
| Grant Date Fair Value | $8,068,474 | Determined via Monte Carlo simulation with an illiquidity discount |
| Grant Date Stock Price | $221.29 per share | Basis for valuation of the PSUs |
| Payout Structure | Threshold: 8,474 shares , Target: 33,893 shares , Maximum: 67,786 shares | Payout linked to performance conditions including heavy emphasis on Adjusted EPS |
| Vesting Schedule | Mandatory holding period until end of 2024 | PSUs vest with a mandatory holding period to preserve intrinsic value |
| Valuation Assumptions | Volatility: 27.77%, Risk-free rate: 4.51%, Dividend yield: 0.00% | Calculated using a Monte Carlo simulation model |
Stock Options
- Note: The 2023 Stock Options awarded to Rainer M. Blair are time-based awards with a four-year vesting schedule and are not tied to performance metrics.
| Metric | Value | Additional Details |
|---|---|---|
| Grant Date | February 24, 2023 | Award granted and approved in early 2023 |
| Grant Date Fair Value | $7,509,417 | Fair value determined at the grant date |
| Exercise Price | $221.29 per share | Matches the grant date stock price |
| Number of Options | 91,602 | Total options granted |
| Vesting Schedule | 25% each on the first four anniversaries | Vesting is strictly time-based with no performance conditions |
| Expiration Date | February 24, 2033 | Options expire 10 years after the grant date |
The performance compensation for 2023 consists of two distinct performance-based elements – the Annual Cash Incentive Compensation and the Performance Stock Units (PSUs). The annual cash incentive is tied to key financial and operational metrics, with clear payout thresholds and targets, while the PSUs incorporate share-based performance targets, a detailed payout structure, and a mandatory holding period. The stock options, although part of overall executive awards, are time-based and not subject to performance conditions.