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Frank R. Schmeler is the former CEO of Albany International Corp., a company he led starting in 2005. He holds a Bachelor's degree in Engineering from the University of Michigan, which laid the foundation for his expertise in the engineering...

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Frank R. Schmeler

Ex-CEO of Albany International Inc.

Education

Bachelor's degree in Engineering from the University of Michigan

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Consumer Cyclical

Born

September 1, 1939 - 85 years ago

CEO of Albany International Inc. for

0 years 7 months (May 2005 - Dec 2005)

Previous Experience

President of Albany International Corp.

Holdings

See how much did Frank R. Schmeler make over time.

At Albany International, Frank R. Schmeler's wealth was heavily tied to the company's performance. As of 2005, he held 35,482 shares as part of his restricted stock units valued at approximately $1.28 million. He also acquired shares worth over $386,000...

Insider Trading

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No insider trades found for this CEO.

Compensation History

See how much did Frank R. Schmeler make over time.

In 2005, Frank R. Schmeler earned a total compensation of $1,274,159 at Albany International, which included a base salary of $741,521 and a substantial bonus of $532,638, awarded for exceeding performance targets. His approach to compensation focused on aligning the interests of executives with those of shareholders, emphasizing cash and performance-driven incentives. Notably, no stock options were granted to him that year, highlighting a shift towards restricted stock units as the primary form of incentive. This structure allowed him to benefit from the long-term value created by the company, reinforcing a connection between his financial rewards and Albany International's performance. His compensation philosophy was centered on meeting strategic goals, showcasing not just leadership but a commitment to sustainable business success.

Year

2005

Total Compensation

$1.27M

Salary

$741.52K

Board Justification

The compensation philosophy aims to attract and retain talented executives while aligning their interests with those of stockholders through competitive cash compensation and performance-based incentives.

Bonus

$532.64K

Board Justification

Bonus granted in February 2006, approximately 118.5% of target, in recognition of success in meeting 2005 goals.

Other

$0.00

Board Justification

No additional compensation reported outside of salary and bonus.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock grants were made in 2005; all performance-based incentive awards were granted under the 2005 Incentive Plan and will vest in future years.

Performance Metrics

Performance metrics included achieving financial objectives, reorganizing IT functions, improving sales and marketing operations, and aligning manufacturing with customer demand.

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