Kim Kelderman was compensated $6.9 million in Bio-Techne Corp.'s most recent fiscal year, his first year as CEO of the public Minneapolis company.
Most of Kelderman's pay was in the form of stock and option awards, according to a regulatory document filed Thursday. He took over as CEO of Bio-Techne in February after longtime CEO Chuck Kummeth stepped down. Kummeth, who had been CEO since 2013 and built Bio-Techne into a billion-dollar company, stayed on as an adviser until July this year.
Kelderman has been with Bio-Techne since 2018 and before becoming CEO, he was the president of the company's and genomics business. That division completed acquisitions of Asuragen and Lunaphore during his tenure.
Prior to joining Bio-Techne, Kelderman led three different businesses at Thermo Fisher Scientific in Waltham, Massachusetts. Kelderman has a Bachelor of Science degree from Hogeschool Heerlen of Applied Sciences in the Netherlands.
Kelderman's pay last year was more than double than the $2.6 million he was paid the year before.
His salary last year was about $760,000.
The pay for the median Bio-Techne employee last year was $87,000, which means Kelderman was paid about 79 times more than the typical employee. That's less than the average CEO-to-worker pay ratio of 268-to-1 for S&P 500 Index companies in 2023, according to the AFL-CIO.
With $1.12 billion in revenue in 2023, Bio-Techne is the 36th-largest public company based in Minnesota, according to Business Journal research.
Take a look at the the detailed breakdown of Bio-Techne's executive leadership's compensation below:
