Abbott Laboratories Chairman and CEO Miles White (photo) received a 2 percent raise last year, to $1.89 million. However, his bonus and other stock awards dipped, according to an SEC filing.
White received compensation of $25.6 million last year, down 2.5 percent from the previous year. His stock awards were $10.9 million--down 12 percent from the prior year--and option awards were $2.7 million.
Last year, Abbott's share price declined 11 percent as it dealt with regulatory challenges and a turbulent global economy. The company also had some in-house issues, such as setbacks in bringing new drugs to market, Dow Jones reports.
White has complained of the difficult regulatory environment and tough FDA approval standards. But company observers also have said some of Abbott's drugs are not that innovative compared to what is on the U.S. market, Chicago Breaking Business reports.