CDW’s Most Highly Compensated Executives In 2022

CDW CEO Christine Leahy received a larger compensation package last year compared to 2021, including a 7 percent increase in base pay, according to an SEC filing.

Christine Leahy—CDW’s CEO, president and chairwoman—received $11.1 million in total compensation in 2022, about 24 percent more than her total compensation the year prior.

The pay package of Leahy and four other executives at Lincolnshire, Ill.-based CDW —No. 4 on CRN’s 2022 Solution Provider 500—was disclosed in a proxy statement filed earlier this month with the U.S. Securities and Exchange Commission (SEC).

The information became public days before the company’s surprise announcement about reduced quarterly guidance and the apparent layoff of hundreds of employees.

People familiar with the layoffs told CRN that between 3 percent and 5 percent of the company—between 450 and 750 people—were let go.

The proxy statement was filed with the SEC on April 7, just 11 days before CDW announced its preliminary earnings, warning that its first quarter was “marked by a period of intensifying economic uncertainty.”

[RELATED: CDW Layoffs: 5 Things To Know]

CDW’s troubles come as vendors and consulting businesses across the IT industry continue to deal with moderated demand for digital tools and technology since the height of the COVID-19 pandemic.

A review of LinkedIn posts from users saying they were caught up in CDW’s layoffs revealed that those cut included veteran employees who had been with the company for more than 12 years, multiple employees in the Digital Velocity business division and multiple employees working with cloud, especially Microsoft Azure.

The layoffs also came about two months after CDW acquired Locus Recruiting, a consulting firm that specializes in information security, cloud computing, networking and infrastructure.

Here’s more on the highest compensated executives at CDW in 2022.

5. Rick Kulevich

Frederick “Rick” Kulevich—CDW’s senior vice president, general counsel and corporate secretary—received $2.9 million in total compensation for the fiscal year ended Dec. 31, according to the solution provider’s proxy statement.

His compensation for prior years was not included in the documents.

That compensation included about $485,000 in base pay and about $775,000 in stock awards. He received $783,000 in option awards.

He received $797,500 as an annual cash bonus against a $550,000 bonus target. And he received $19,600 in all other compensation.

For the executives, all other compensation included “company-paid supplemental disability premiums” and “the costs associated with an executive physical, which for health care privacy reasons each Named Executive Officer has been attributed a cost of $4,295 regardless of whether such benefit was used.”

Kulevich has been with CDW for more than 16 years, according to his LinkedIn account. He’s been in his current role since 2017.

This other compensation also included “matching and profit sharing contributions to 401(k) accounts,” according to CDW.

4. Christina Corley

Christina Corley, CDW’s chief commercial and operating officer, received $4.7 million in total compensation for 2022, according to CDW. That’s a 4 percent increase over her total compensation a year prior.

That total compensation included about $646,000 in base pay, an increase of 23 percent year over year.

Corley’s compensation included $1.4 million in stock awards and $1.4 million in option awards.

She received $1.2 million in an annual cash bonus against a bonus target of $825,000. Her bonus was about 5 percent lower than the prior year.

She received $21,000 in all other compensation.

All other compensation for Corley included “a service recognition gift provided to all coworkers upon certain service anniversaries, a gift received at a sales event by all event attendees, and a product purchased with wellness credits redeemed through the Company’s health insurer,” according to CDW.

Corley has been with CDW for more than 11 years and in her current role since 2019, according to her LinkedIn account.

She previously worked at Corporate PC Source and Zones for more than 12 years, leaving the company in 2011 with the title of president and chief operating officer.

She joined Zones with the acquisition of Corporate PC Source in 2003.

3. Sona Chawla

Sona Chawla, CDW’s chief growth and innovation officer, received about $4.7 million in total compensation for 2022, a decrease of about 1 percent year over year.

The decrease came due to less money awarded in Chawla’s bonus compared to the prior year. Chawla received an annual 2022 bonus of $1.2 million, the same as Corley. Like Corley, this was against a $825,000 bonus target.

The prior year, Chawla received about $1.3 million in bonus.

Chawla’s total pay package included about $646,000 in base salary, according to CDW. That’s about 23 percent above her base pay for the year prior.

She received $1.4 million in stock awards in 2022 and $1.4 million in option awards. She received $17,000 in all other compensation

Chawla joined CDW in 2020, according to her LinkedIn account. She previously worked at Kohl’s for about four years, leaving in 2019 with the title of president.

She also worked at Walgreens for about eight years, according to her LinkedIn account. She left the company in 2015 with the title of president of digital and chief marketing officer.

2. Al Miralles

Al Miralles, CDW’s senior vice president and chief financial officer, received about $4 million in total compensation for 2022, his first full year with CDW.

His total compensation was down about 27 percent year over year due to the cash sign-on bonus of $300,000 he received in 2021, fewer stock awards and a lower annual cash bonus.

Miralles joined CDW in September 2021 after working at CNA Insurance for about 10 years, according to his LinkedIn account.

In 2022, Miralles received a base salary of $650,000 from CDW. He received $1.1 million in stock awards and $1.1 million in option awards.

Miralles received $1.2 million in an annual bonus. This was against an $800,000 bonus target. His annual bonus the year prior was $1.4 million.

He received $13,000 in all other compensation in 2022. That amount included “a gift received at a sales event by all event attendees,” according to CDW.

1. Christine Leahy

CDW’s CEO, president and chairwoman received $11.1 million in total compensation in 2022, according to SEC filings. That’s about 24 percent more than her total compensation the year prior.

She received $985,000 in base pay from CDW, about 7 percent more year over year.

Leahy received about $3.5 million in stock awards and about $3.5 million in option awards.

Leahy received a $2.9 million bonus against a $2 million bonus target. Her bonus was about 20 percent higher year over year.

She received $194,000 in all other compensation for 2022. That amount included “a gift received at a sales event by all attendees and reimbursements for certain personal travel in the amount of $174,396, including $42,754 for the reimbursement of taxes for such travel.”

Some of that personal travel amount may have gone to a third-party aircraft vendor, according to CDW.

Leahy’s pay was 103 times that of the median annual total compensation for all CDW workers minus the CEO. The median CDW worker pay for 2022 was about $107,000.

Leahy became president and CEO of CDW in 2019. She became chairwoman in January. She previously served as chief revenue officer from 2017 to 2019.