Andrew Witty - GlaxoSmithKline
Total Compensation: $2.68M
Details: Witty has spent his entire career at GSK. In 2007, the industy vet's loyalty was rewarded when he was promoted from head of the European pharma unit to CEO following Dr. Jean-Pierre Garnier's retirement. The CEO beat out a number of other company veterans vying for the spot, including Chris Viehbacher--who later left to head Sanofi-Aventis. Witty officially took the reigns in May of 2008 and for just 6 months at the helm, he was awarded £1.78 million--or $2.68 million. At the time of his succession, Witty's base salary was set at $1.28 million; he received just over $1 million, plus a $1.5 million bonus.
GSK News:
GSK chief elaborates on biotech strategy [1]
NICE snubs Glaxo's pay-for-performance plan [2]
GlaxoSmithKline to axe 850 jobs in R&D [3]
GSK to cut 1,800 U.S. pharma reps [4]
GSK's Witty opts out of generics market [5]
Witty: Diversifying and derisking GSK [6]
Links:
[1] http://www.fiercebiotech.com/story/glaxo-chief-elaborates-its-new-biotech-strategy/2008-07-24
[2] http://www.fiercepharma.com/story/nice-snubs-glaxos-pay-performance-plan/2008-10-14
[3] http://www.fiercepharma.com/story/glaxosmithkline-axe-850-jobs-r-d/2008-09-30
[4] http://www.fiercepharma.com/story/gsk-cut-1-800-u-s-pharma-reps/2008-11-05
[5] http://www.fiercepharma.com/story/gsks-witty-opts-out-generics-market/2008-07-08?utm_medium=rss&utm_source=rss&cmp-id=OTC-RSS-FP0
[6] http://www.fiercepharma.com/story/witty-diversifying-and-derisking-gsk/2008-06-13
[7] http://www.fiercepharma.com/special-reports/chris-viehbacher-sanofi-aventis
[8] http://www.fiercepharma.com/special-reports/top-paychecks-big-pharma