Kevin M. Olsen
Also at Dorman Products Inc
About
Kevin M. Olsen is a seasoned executive with extensive experience in financial management and strategic leadership. He began his career with foundational work in public accounting at PricewaterhouseCoopers LLP and advanced through progressively responsible roles at companies such as Colfax Corporation, Precision Castparts, and others.
His career at DORM started in 07-2016 as Senior Vice President and Chief Financial Officer. Over the years, he earned successive promotions as Executive Vice President and President and Chief Operating Officer before ascending to his current role as President and Chief Executive Officer in 01-2019.
Throughout his tenure, he has driven initiatives that promoted operational excellence and long-term growth, contributing to significant milestones for the company such as record net sales achievements and strategic operational improvements. In addition to his executive responsibilities, he serves as a director at Twin Disc, Inc., further demonstrating his expertise and influence in the industry.
$DORM Performance Under Kevin M. Olsen
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Dorman Products, Inc. | President and Chief Operating Officer | Aug 2018 – Jan 2019 | Promoted to CEO; role transitioned in Jan 2019 |
| Dorman Products, Inc. | Executive Vice President, Chief Financial Officer | Jun 2017 – Aug 2018 | Promoted from Senior VP & CFO |
| Dorman Products, Inc. | Senior Vice President and Chief Financial Officer | Jul 2016 – Jun 2017 | Joined the company in this role |
| Colfax Fluid Handling (Colfax Corporation) | Chief Financial Officer | Jan 2013 – Jun 2016 | Oversaw finance for the division |
| Precision Castparts Corp. | Management Roles (Forged Products Aero Turbine Division) | N/A | Held progressively responsible management roles |
| Crane Energy Flow Solutions (Crane Co.) | Management Roles | N/A | Held progressively responsible management roles |
| Netshape Technologies, Inc. | Management Roles | N/A | Held progressively responsible management roles |
| Danaher Corporation | Management Roles | N/A | Held progressively responsible management roles |
| PricewaterhouseCoopers LLP (PwC) | Public Accounting Work | N/A | Early career accounting experience in public accounting |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Twin Disc, Inc. | Director | Since 2022 | Publicly traded international manufacturer and distributor of heavy‐duty off‐highway and marine power transmission equipment |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $900,000 | N/A | Annual fixed base salary |
| Discretionary Company Contribution to 401(k) Retirement Plan | $13,200 | N/A | Part of All Other Compensation totaling $44,101 |
| Discretionary Company Matching Contribution to 401(k) Retirement Plan | $17,688 | N/A | Part of All Other Compensation totaling $44,101 |
| Executive Life Insurance Premiums | $2,527 | N/A | Part of All Other Compensation totaling $44,101 |
| Executive Disability Insurance Premiums | $10,686 | N/A | Part of All Other Compensation totaling $44,101 |
Performance Compensation
Equity Incentive Plan Awards
| Metric (Unit) | Value | Citation |
|---|---|---|
| Grant Date | March 2, 2023 | |
| Grant Date Fair Value (PRSUs) | $1,487,470 | |
| Grant Date Stock Price | $91.28 per share | |
| Performance Metric | Total Shareholder Return vs. S&P Growth Index | |
| Threshold Payout | 50% of target | |
| Target Payout | 100% of target | |
| Maximum Payout | 200% of target | |
| Eligible Shares (Threshold) | 6,573 shares | |
| Eligible Shares (Target) | 13,146 shares | |
| Eligible Shares (Maximum) | 26,292 shares | |
| Vesting / Evaluation Period | Dec 27, 2020 - Dec 30, 2023 | |
| Monte Carlo Fair Value per Share | $113.15 per share |
Non-Equity Incentive Plan Awards
| Metric (Unit) | Value | Citation |
|---|---|---|
| Threshold Award | $450,000 | |
| Target Award | $900,000 | |
| Maximum Award | $1,800,000 | |
| Overall Performance Weight | 30% (Corporate Subplan) | |
| Segment Metrics Weight | 70% (75% for Operating Income, 25% for Net Sales) | |
| Evaluation Details | Based on fiscal 2023 adjusted operating income and net sales for each segment; corporate goal achievement | |
| Vesting Schedule | Not specified | N/A |