Middleby Management

Management criteria checks 3/4

Middleby's CEO is Tim FitzGerald, appointed in Feb 2019, has a tenure of 5.17 years. total yearly compensation is $8.43M, comprised of 11.6% salary and 88.4% bonuses, including company stock and options. directly owns 0.74% of the company’s shares, worth $56.38M. The average tenure of the management team and the board of directors is 3.2 years and 6.9 years respectively.

Key information

Tim FitzGerald

Chief executive officer

US$8.4m

Total compensation

CEO salary percentage	11.6%
CEO tenure	5.2yrs
CEO ownership	0.7%
Management average tenure	3.2yrs
Board average tenure	6.9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tim FitzGerald's remuneration changed compared to Middleby's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 30 2023	US$8m	US$975k	US$401m
Sep 30 2023	n/a	n/a	US$458m
Jul 01 2023	n/a	n/a	US$454m
Apr 01 2023	n/a	n/a	US$450m
Dec 31 2022	US$9m	US$975k	US$437m
Oct 01 2022	n/a	n/a	US$406m
Jul 02 2022	n/a	n/a	US$478m
Apr 02 2022	n/a	n/a	US$485m
Jan 01 2022	US$9m	US$975k	US$488m
Oct 02 2021	n/a	n/a	US$438m
Jul 03 2021	n/a	n/a	US$322m
Apr 03 2021	n/a	n/a	US$223m
Jan 02 2021	US$5m	US$975k	US$207m
Sep 26 2020	n/a	n/a	US$264m
Jun 27 2020	n/a	n/a	US$286m
Mar 28 2020	n/a	n/a	US$357m
Dec 28 2019	US$7m	US$975k	US$352m
Sep 28 2019	n/a	n/a	US$338m
Jun 29 2019	n/a	n/a	US$329m
Mar 30 2019	n/a	n/a	US$321m
Dec 29 2018	US$4m	US$850k	US$317m
Sep 29 2018	n/a	n/a	US$297m
Jun 30 2018	n/a	n/a	US$299m
Mar 31 2018	n/a	n/a	US$293m
Dec 30 2017	US$587k	US$575k	US$298m

Compensation vs Market: Tim's total compensation ($USD8.43M) is above average for companies of similar size in the UK market ($USD3.34M).

Compensation vs Earnings: Tim's compensation has been consistent with company performance over the past year.

CEO

Tim FitzGerald (53 yo)

5.2yrs

Tenure

US$8,434,879

Compensation

Mr. Timothy J. FitzGerald, also known as Tim, has been Chief Executive Officer and Director since February 16, 2019 and served as the Chief Financial Officer of The Middleby Corporation (formerly known as...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Timothy FitzGerald	CEO & Director	5.2yrs	US$8.43m	0.74% $ 56.4m
Bryan Mittelman	Chief Financial Officer	5.2yrs	US$2.99m	0.056% $ 4.3m
James Pool	Chief Technology & Operations Officer	3.2yrs	US$3.75m	0.067% $ 5.1m
Steven Spittle	Chief Commercial Officer	3.2yrs	US$3.75m	0.064% $ 4.9m
Matthew Fuchsen	Chief Development Officer	less than a year	US$2.31m	0.056% $ 4.2m
Brittany Cerwin	Chief Accounting Officer	less than a year	no data	0.025% $ 1.9m
Partha Biswas	Division President of Middleby India & Global Chief Information Officer	10.4yrs	no data	no data
Michael Thompson	General Counsel & Secretary	no data	no data	no data
Darcy Bretz	Director of Corporate Communications	no data	no data	no data
George Koether	Group President of business operations in Asia	3.2yrs	no data	no data
Magdy Albert	President Food Processing Group	no data	US$583.49k	no data
Ousama Sidani	VP of Supply Chain & Group President of Houno A/S	15.3yrs	no data	no data

3.2yrs

Average Tenure

52yo

Average Age

Experienced Management: 0K1G's management team is considered experienced (3.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Timothy FitzGerald	CEO & Director	5.2yrs	US$8.43m	0.74% $ 56.4m
Gordon O'Brien	Independent Chairman of the Board	18.9yrs	US$288.09k	0.075% $ 5.7m
John Miller	Independent Director	46.3yrs	US$288.09k	0.022% $ 1.7m
Cathy McCarthy	Independent Director	8.4yrs	US$288.09k	0.015% $ 1.1m
Sarah Chapin	Independent Director	10.4yrs	US$288.09k	0.012% $ 896.1k
Robert Nerbonne	Independent Director	4.7yrs	US$263.09k	0.041% $ 3.1m
Stephen Scherger	Independent Director	less than a year	no data	no data
Nassem Ziyad	Independent Director	6.9yrs	US$263.09k	0.022% $ 1.7m
Tejas Shah	Independent Director	less than a year	no data	no data

6.9yrs

Average Tenure

59yo

Average Age

Experienced Board: 0K1G's board of directors are considered experienced (6.9 years average tenure).

Middleby Management

Management criteria checks 3/4

Key information

Recent management updates

The Middleby Corporation, Annual General Meeting, May 14, 2024

Middleby Appoints Stephen Scherger and Tejas Shah to Its Board of Directors

Chief Technology & Operations Officer recently sold US$412k worth of stock

Insufficient new directors

Independent Director recently sold US$160k worth of stock

Middleby Announces Executive Changes

Recent updates

The Middleby Corporation to Report Q1, 2024 Results on May 08, 2024

The Middleby Corporation, Annual General Meeting, May 14, 2024

Full year 2023 earnings released: EPS: US$7.48 (vs US$8.07 in FY 2022)

The Middleby Corporation (NasdaqGS:MIDD) acquired Gbt Gmbh BÄCkerei Technologie.

The Middleby Corporation to Report Q4, 2023 Results on Feb 20, 2024

Middleby Appoints Stephen Scherger and Tejas Shah to Its Board of Directors

Third quarter 2023 earnings released: EPS: US$2.03 (vs US$1.94 in 3Q 2022)

The Middleby Corporation to Report Q3, 2023 Results on Nov 08, 2023

Chief Technology & Operations Officer recently sold US$412k worth of stock

New minor risk - Insider selling

Second quarter 2023 earnings released: EPS: US$2.18 (vs US$2.10 in 2Q 2022)

The Middleby Corporation (NasdaqGS:MIDD) acquired Trade-Wind Manufacturing LLC.

The Middleby Corporation to Report Q2, 2023 Results on Aug 03, 2023

The Middleby Corporation (NasdaqGS:MIDD) acquired TERRY Water Treatment Solutions.

The Middleby Corporation(NasdaqGS:MIDD) dropped from Russell 1000 Growth Index

The Middleby Corporation (NasdaqGS:MIDD) acquired Filtration Automation, Inc.

Insufficient new directors

Independent Director recently sold US$160k worth of stock

Middleby Announces Executive Changes

The Middleby Corporation (NasdaqGS:MIDD) acquired Blue Sparq, Inc.

First quarter 2023 earnings released: EPS: US$1.85 (vs US$1.57 in 1Q 2022)

Full year 2022 earnings released: EPS: US$8.07 (vs US$8.85 in FY 2021)

The Middleby Corporation to Report Q4, 2022 Results on Feb 21, 2023

The Middleby Corporation (NasdaqGS:MIDD) acquired Flavor Burst Company, LLP.

Insufficient new directors

Independent Director recently sold US$162k worth of stock

Third quarter 2022 earnings released: EPS: US$1.94 (vs US$3.19 in 3Q 2021)

Insufficient new directors

The Middleby Corporation (NasdaqGS:MIDD) acquired Escher Mixers Srl.

The Middleby Corporation to Report Q3, 2022 Results on Nov 09, 2022

Insufficient new directors

Independent Director recently sold US$79k worth of stock

Investor sentiment improved over the past week

Second quarter 2022 earnings released: EPS: US$2.10 (vs US$2.18 in 2Q 2021)

Insufficient new directors

The Middleby Corporation (NasdaqGS:MIDD) acquired Colussi Ermes Srl.

The Middleby Corporation (NasdaqGS:MIDD) acquired Colussi Ermes Srl.

The Middleby Corporation (NasdaqGS:MIDD) acquired CP Packaging, LLC.

The Middleby Corporation (NasdaqGS:MIDD) acquired CP Packaging, LLC.

The Middleby Corporation (NasdaqGS:MIDD) acquired Icetro Co., Ltd.

The Middleby Corporation (NasdaqGS:MIDD) acquired Proxaut Srl.

Independent Director recently bought US$276k worth of stock

CEO & Director recently bought US$992k worth of stock

First quarter 2022 earnings released: EPS: US$1.57 (vs US$1.62 in 1Q 2021)

Insufficient new directors

The Middleby Corporation to Report Q1, 2022 Results on May 10, 2022

The Middleby Corporation, Annual General Meeting, May 16, 2022

Insufficient new directors

Independent Director recently bought US$101k worth of stock

Independent Director recently sold US$461k worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Insufficient new directors

The Middleby Corporation to Report Q4, 2021 Results on Feb 22, 2022

The Middleby Corporation (NasdaqGS:MIDD) completed the acquisition of Masterbuilt Holdings LLC from Dominus Capital, L.P.

The Middleby Corporation (NasdaqGS:MIDD) acquired Char Griller.

Independent Director recently sold US$55k worth of stock

The Middleby Corporation (NasdaqGS:MIDD) entered into an agreement to acquire Masterbuilt Holdings LLC from Dominus Capital, L.P. for approximately $390 million.

Third quarter 2021 earnings released: EPS US$3.19 (vs US$1.10 in 3Q 2020)

The Middleby Corporation (NasdaqGS:MIDD) acquired Spenuzza, Inc.

Independent Director recently bought US$202k worth of stock

Chief Technology & Operations Officer recently sold US$672k worth of stock

Second quarter 2021 earnings released: EPS US$2.18 (vs US$0.39 in 2Q 2020)

First quarter 2021 earnings released: EPS US$1.62 (vs US$1.33 in 1Q 2020)

Full year 2020 earnings released: EPS US$3.76 (vs US$6.33 in FY 2019)

Revenue beats expectations

The Middleby Corporation Announces Executive Changes

The Middleby Corporation to Report Q4, 2020 Results on Mar 01, 2021

The Middleby Corporation Announces Retirement Od David Brewer as Chief Operating Officer

CEO Compensation Analysis