Garmin Management

Management criteria checks 2/4

Garmin's CEO is Cliff Albert Pemble, appointed in Oct 2007, has a tenure of 16.92 years. total yearly compensation is $6.54M, comprised of 20.7% salary and 79.3% bonuses, including company stock and options. directly owns 0.041% of the company’s shares, worth CHF11.44M. The average tenure of the management team and the board of directors is 10.2 years and 8.8 years respectively.

Key information

Cliff Albert Pemble

Chief executive officer

US$6.5m

Total compensation

CEO salary percentage	20.7%
CEO tenure	16.9yrs
CEO ownership	0.04%
Management average tenure	10.2yrs
Board average tenure	8.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Cliff Albert Pemble's remuneration changed compared to Garmin's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 29 2024	n/a	n/a	US$1b
Mar 30 2024	n/a	n/a	US$1b
Dec 30 2023	US$7m	US$1m	US$1b
Sep 30 2023	n/a	n/a	US$1b
Jul 01 2023	n/a	n/a	US$994m
Apr 01 2023	n/a	n/a	US$964m
Dec 31 2022	US$5m	US$1m	US$974m
Sep 24 2022	n/a	n/a	US$966m
Jun 25 2022	n/a	n/a	US$1b
Mar 26 2022	n/a	n/a	US$1b
Dec 25 2021	US$4m	US$1m	US$1b
Sep 25 2021	n/a	n/a	US$1b
Jun 26 2021	n/a	n/a	US$1b
Mar 27 2021	n/a	n/a	US$1b
Dec 26 2020	US$4m	US$1m	US$992m
Sep 26 2020	n/a	n/a	US$1b
Jun 27 2020	n/a	n/a	US$934m
Mar 28 2020	n/a	n/a	US$973m
Dec 28 2019	US$3m	US$1m	US$952m
Sep 28 2019	n/a	n/a	US$782m
Jun 29 2019	n/a	n/a	US$738m
Mar 30 2019	n/a	n/a	US$705m
Dec 29 2018	US$3m	US$900k	US$694m
Sep 29 2018	n/a	n/a	US$646m
Jun 30 2018	n/a	n/a	US$613m
Mar 31 2018	n/a	n/a	US$600m
Dec 30 2017	US$2m	US$750k	US$709m

Compensation vs Market: Cliff's total compensation ($USD6.54M) is above average for companies of similar size in the Swiss market ($USD4.68M).

Compensation vs Earnings: Cliff's compensation has increased by more than 20% in the past year.

CEO

Cliff Albert Pemble (58 yo)

16.9yrs

Tenure

US$6,540,666

Compensation

Mr. Clifton Albert Pemble, also known as Cliff, has been the Chief Executive Officer of Garmin Ltd., since January 1, 2013 and is its President since October 2007. Mr. Pemble serves as the Managing Directo...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Clifton Albert Pemble	President	16.9yrs	US$6.54m	0.041% $ 11.4m
Douglas Boessen	CFO & Treasurer	10.2yrs	US$2.04m	0.0065% $ 1.8m
Patrick Desbois	Co-Chief Operating Officer	less than a year	US$2.54m	0.019% $ 5.2m
Philip Straub	Executive VP & MD of Aviation - Garmin International	no data	US$2.25m	0.036% $ 10.1m
Andrew Etkind	VP & Secretary	24.1yrs	US$1.63m	0.034% $ 9.6m
Min-Hwan Kao	Co-Founder & Executive Chairman	21.7yrs	US$384.43k	9.5% $ 2.7b
Brad Trenkle	Co-Chief Operating Officer	less than a year	no data	0.011% $ 3.1m
Teri Seck	Manager of Investor Relations	no data	no data	no data
Joshua Maxfield	VP, General Counsel & Assistant Secretary	less than a year	no data	0.0055% $ 1.6m
Ted Gartner	Director of Corporate Communications	no data	no data	no data
Laurie Minard	Vice President of Human Resources	17.2yrs	no data	0.0022% $ 629.2k
Susan Lyman	VP & Global Consumer Marketing	less than a year	no data	0.00022% $ 62.1k

10.2yrs

Average Tenure

58yo

Average Age

Experienced Management: 011440532's management team is seasoned and experienced (10.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Clifton Albert Pemble	President	20.1yrs	US$6.54m	0.041% $ 11.4m
Min-Hwan Kao	Co-Founder & Executive Chairman	21.7yrs	US$384.43k	9.5% $ 2.7b
Joseph Hartnett	Independent Director	11.3yrs	US$243.94k	0.010% $ 2.9m
Susan Ball	Independent Director	less than a year	no data	0.000090% $ 25.4k
Catherine Lewis	Independent Director	5.3yrs	US$238.84k	0.0030% $ 840.8k
Jonathan Burrell	Independent Director	6.3yrs	US$243.94k	9.28% $ 2.6b

8.8yrs

Average Tenure

64.5yo

Average Age

Experienced Board: 011440532's board of directors are considered experienced (8.8 years average tenure).

Garmin Management

Management criteria checks 2/4

Key information

Recent management updates

Insufficient new directors

Garmin Ltd., Annual General Meeting, Jun 07, 2024

Garmin Ltd. Announces Management Changes

Insufficient new directors

Insufficient new directors

Insufficient new directors

Recent updates

Garmin Introduces InReach Messenger Plus SOS Satellite Communication

Dividend of US$0.75 announced

Upcoming dividend of US$0.75 per share

Garmin Unveils the Garmin Dash Cam™ X Series of High-Quality Dash Cameras That Provide Motorists with A Discreet Eyewitness Anywhere They Drive1

Garmin Adds AMOLED Displays to Fenix 8 Series, Its Most Capable Lineup of Premium Multisport GPS Smartwatches with Something for Everyone

Garmin Introduces Revolutionary Technology to Help Avoid Runway Incursions

Second quarter dividend of US$0.75 announced

Garmin Enables Premium App Purchases in the Connect Iq Store and Unveils Fun New Watch Faces and Apps

Garmin Ltd. Provides Earnings Guidance for the First Half of 2024

Garmin Expands Force Kraken Trolling Motor Series to accommodate A Broader Range of Boat Sizes

Garmin Introduces the Panoptix Ps22-If Ice Fishing Bundle, A Live Sonar Solution Optimized for Hole Hopping

Garmin Ltd. to Report Q2, 2024 Results on Jul 31, 2024

Garmin Unveils the Approach Z30 Smart Laser Range Finder with Unparalleled Integration to the Garmin Golf Lineup

Garmin Ltd. Unveils Align and Smartest Cycling Computer Ever: the Edge 1050

Garmin Ltd. Approves the Payment of A Cash Dividend, Payable on June 28, 2024, September 27, 2024, December 27, 2024 and March 28, 2025 Respectively

Garmin Ltd. Approves the Payment of A Cash Dividend

First quarter dividend of US$0.75 announced

Insufficient new directors

Garmin Ltd. Provides Earnings Guidance for the Year 2024

Garmin Ltd., Annual General Meeting, Jun 07, 2024

Garmin Ltd. Announces Management Changes

Garmin Ltd. to Report Q1, 2024 Results on May 01, 2024

Garmin Unveils Complete Avionics Modernization Program for Cessna Citation CJ2

Dividend of US$0.75 announced

Garmin Announces Gwx 8000 Stormoptix Weather Radar with Auto Mode Will Soon Be Approved for Display and Control Via Gtn Xi Navigators and Txi Flight Displays, Expanding its Interface Potential Beyond Previously Approved Garmin Integrated Flight Decks

Upcoming dividend of US$0.73 per share

Fourth quarter dividend of US$0.73 announced

Insufficient new directors

Garmin Ltd. Establishes Final Dividend Installment, Payable on March 29, 2024

Full year 2023 earnings released: EPS: US$6.74 (vs US$5.06 in FY 2022)

Garmin Ltd. Recommends Second, Third and Fourth Installments Cash Dividend, Payable on September 27, 2024, December 27, 2024 and March 28, 2025

Garmin Ltd. (NYSE:GRMN) announces an Equity Buyback for $300 million worth of its shares.

Garmin Continues to Change the Game with the New Panoptix Ps70 Live Sonar for Deep-Sea Fishing

Insufficient new directors

Garmin Ltd. to Report Q4, 2023 Results on Feb 21, 2024

Garmin Unveils the HRM-Fit Heart Rate Monitor for Women

Garmin Brings Big Updates to Its Small, Styly Lily 2 Smartwatch Series

Insufficient new directors

Garmin Unveils the Tacx Neo 3M: A Powerful Indoor Smart Trainer with Multidirectional Movement

Garmin Unveils the Descent G1 Solar - Ocean Edition Dive Computer, Its First-Ever Product Made with Recycled Ocean-Bound Plastics

Insufficient new directors

Garmin Ltd. Provides Earnings Guidance for the Full Year 2023

Garmin International, Inc. Introduces Fast Track to Tech

Garmin Introduces Next-Gen ECHOMAP Ultra 2 Series

Insufficient new directors

Garmin Unveils the MARQ Carbon Collection

Garmin Ltd. to Report Q3, 2023 Results on Nov 01, 2023

Garmin Announces G5000 Integrated Flight Deck Retrofit Coming Soon for Cessna Citation XLS + and XLS Gen2 Aircraft

Garmin Ltd. Introduces the Vívoactive 5 GPS Smartwatch

Garmin Expands Xhd3 Series with New Magnetron D Dome Radars

Upcoming dividend of US$0.73 per share at 2.8% yield

Garmin Announces Venu® 3 and Venu 3S GPS Smartwatches Designed to Support Every Health and Fitness Goal

Insufficient new directors

Now 23% undervalued after recent price drop

Garmin Ltd. (NYSE:GRMN) has entered into a definitive agreement to acquire JL Audio, Inc.

Second quarter 2023 earnings released: EPS: US$1.51 (vs US$1.34 in 2Q 2022)

Insufficient new directors

Insufficient new directors

Garmin Ltd. to Report Q2, 2023 Results on Aug 02, 2023

Garmin Unveils the GMR xHD3 Series Open-Array Radars

Garmin Announces epix(TM) Pro Series, Its Next-Gen High- Performance GPS Smartwatches with A Crystal-Clear Amoled Display, Rugged Design and Impressive Battery Life

Insufficient new directors

Garmin Ltd. Maintains Earnings Guidance for 2023

First quarter 2023 earnings released: EPS: US$1.06 (vs US$1.10 in 1Q 2022)

Insufficient new directors

Upcoming dividend of US$0.73 per share at 3.0% yield

Insider recently sold CHF418k worth of stock

Insufficient new directors

Full year 2022 earnings released: EPS: US$5.06 (vs US$5.63 in FY 2021)