Bang for the buck: Biomet boss in top 10 of Forbes' best-performing CEOs.
Author | Kaelble, Steve |
Position | Around Indiana - Chief executive officers |
CALL HIM THE WAL-MART of CEOs. Or perhaps the Volkswagen. Just don't call Dane Miller overpaid.
Yes, the chief of Warsawbased orthopedics manufacturer Biomet Inc. did take home $545,900 last fiscal year. But according to Forbes magazine, Miller's services to the company are a relative bargain.
Miller regularly ranks near the top of the list when Forbes rates U.S. chief executives' "bang for the buck." On this year's list of bestperforming American bosses, he's ninth. In its chart, Forbes declares: "Outspoken foe of corporate greed, Ph.D. turned $500,000 Small Business Administration loan into $1.4 billion orthopedic products company"
He's among impressive company on the list, which is headed by Amazon.com's Jell Bezos. The chief of Harley-Davidson also made the top 10, along with CEOs of Paychex and EchoStar. And Miller has been a Forbes honoree for some time.
The Forbes ranking studies bosses with CEO tenure and pay history of at least six years. The ranking takes into account a company's stock performance during the CEO's tenure and relative to peers and other stocks. Forbes reports that Biomet stock has enjoyed an average annualized return of about 30 percent with Miller at the helm.
For his part, Miller's not making a conscious effort to top the Forbes list. It's just the way he likes to do business. "I think there are different philosophies about management," he says. "I'm kind of a hands-on sort of manager. I walk out on the shop floor and talk to people and...
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