ePlus’ Most Highly Compensated Executives In Fiscal 2023

Although the company saw revenue increases across the board, Mark Marron, president and CEO of ePlus and its highest-paid executive, saw compensation of $4,422,225 in 2023 ,which was a slight drop from his 2022 compensation.

Despite net sales increasing by more than 13 percent year over year, the three top executives at Herndon, Va.-based solution provider ePlus all took a slight cut in compensation in fiscal year 2023.

Net sales increased 13.5 percent to $2.1 billion in Fiscal Year 2023, which ended March 31, technology segment net sales increased 16.3 percent to $2.2 billion and service revenue increased 9.9 percent to $264.4 million. Adjusted EBITDA increased 12.1 percent to $190.6 million.

The fourth quarter of Fiscal Year 2023 also saw increased revenue. Net sales increased 9 percent to $492.2 million over the same period last year, technology segment net sales increased 15.2 percent to $483.2 million, and service revenue increased 11.5 percent to $68.7 million. Adjusted EBITDA in the fourth quarter also increased 22.4 percent to $48.7 million.

But although the company saw revenue increases across the board, Mark Marron, president and CEO of ePlus and its highest-paid executive, saw compensation of $4,422,225 in 2023, which was a slight drop from his 2022 compensation, which was $4,900,118.

CRN has reached out to ePlus for comment.

On Thursday morning, ePlus’ stock was $58.24 per share, up about $2 from a month ago.

Check out the three most highly compensated executives at ePlus.

3. Elaine Marion

CFO

Total Fiscal Year 2023 Compensation: $2,578,886

Total Fiscal Year 2022 Compensation: $2,769,308

Marion has been CFO since 2008 and leads all finance, treasury and accounting functions as well as human resources and information technology for ePlus. She joined the company in 1998, and her previous positions at the solution provider included vice president of accounting and controller.

For Fiscal Year 2023, Marion’s salary was $495,750. Her nonequity incentive plan compensation was $681,690. Other compensation of $51,452 and stock awards totaling $1,349,994 brought Marion’s total compensation to $2,578,886.

2. Darren Raiguel

COO

Total Fiscal Year 2023 Compensation: $2,585,530

Totally Fiscal Year 2022 Compensation: $2,769,308

Raiguel was promoted to COO in May 2018 after a 20-year career with ePlus. Before assuming the role of COO, he was the executive vice president of technology sales, where he led revenue growth across all of the company’s IT products, services and consultative offerings.

For fiscal year 2023, Raiguel’s salary was $495,750. His nonequity incentive plan compensation was $681,690. Other compensation of $58,096 and stock awards totaling $1,349,994 brought Raiguel’s total compensation to $2,585,530.

1. Mark Marron

President, CEO

Total Fiscal Year 2023 Compensation: $4,422,225

Total Fiscal Year 2022 Compensation: $4,900,118

Marron has been president and CEO of ePlus since Aug. 1, 2016, and was appointed to the board on Nov. 14, 2018. He first came to ePlus in 2005 as senior vice president of sales and became COO in 2010. Marron has a 30-year career in the channel, formerly with NetIQ, where he was senior vice president of worldwide sales and services, and was general manager of worldwide channel sales for Computer Associates.

For fiscal year 2023, Marron’s salary was $916,500. His nonequity incentive plan compensation was $1,283,627. Other compensation of $22,131 and stock awards totaling $2,199,967 brought Marron’s total compensation to $4,422,225.