Walter George Ehmer was the CEO of Waffle House. He passed away on Sept. 6, 2024, and as expected, the company has been paying tribute to him ever since.
As the CEO and president of one of the biggest restaurant chains in the country, the topic of Ehmer’s salary quickly became a topic of conversation. There’s no question he made a hefty amount of money in his lifetime. But just how rich was the de facto King of Waffles?
Walt Ehmer: A compassionate leader
Walter Ehmer was a very beloved man in various communities, and he worked his way up the corporate ladder at Waffle House for decades. After graduating from Georgia Institute of Technology, he briefly worked at the automation equipment manufacturing company Allen-Bradley. Ehmer joined Waffle House in 1992 as a senior buyer. He was quickly promoted to vice president of purchasing, where he served from 1996 to 1998, before serving as the vice president of finance till 2001.
In 2001, Ehmer was appointed as the Chief Financial Officer of Waffle House and held that position until 2006, when he became president. Alongside the role of president, he took on the role of Chief Executive Officer in 2012 and served in both roles until he died in 2024.
Ehmer’s income didn’t only come from his time at Waffle House, though. He was on the board of directors for Aaron’s Inc., an American retail company. He was known for his personable character and trustworthiness and was also a member of the board of trustees for the Atlanta Police Foundation. The Foundation put out a touching tribute to him on Facebook, calling him a “dedicated leader,” and praising his support of their goals.
Moreover, Ehmer was known for his compassionate leadership, such as during the COVID-19 pandemic in 2020, when he announced that he would be cutting his salary in half to ensure that workers were paid enough, and to cover any necessary costs during the pandemic. He had a very loving relationship with his staff which is clear in the tributes and messages that have been left in the wake of his passing. Ehmer died from complications due to pancreatic cancer. He is survived by his wife and three children.
What was Walter Ehmer’s salary and net worth?
As a CEO and president of a company as huge as Waffle House, Ehmer’s salary and net worth were understandably hefty. He had an estimated net worth of $10 million from his various managerial positions and investments. Executives at Waffle House are reported to earn an average annual salary of $231,000, with a range of $50,000 to $700,000. Since Ehmer was at the top of the food chain, his salary was likely on the higher side of that scale.
He also earned his income from his other managerial positions as well as investments in stocks. He served as an independent director at Aaron’s Inc., where a 2022 report claimed that he earned $252,500 in total that year. The money was split between total cash income and equity, with $117,500 as total cash and the remaining $135,000 as equity. He also owned shares in Aaron’s Inc. that were worth up to $467,749.
Furthermore, his positions on the Atlanta Police Foundation and the Metro Atlanta Chamber of Commerce also earned him some money, averaging an annual amount of around $80,000 and $223,470, respectively.
Published: Sep 16, 2024 02:24 pm