We've been talking about CEO pay a lot lately; it's that time of the year, after all, when spring turns our minds to thoughts of proxy statements. But what about CEO performance? Great CEO performance, to be exact?
Well, here are some kudos for two pharma execs who made Barron's list of the 30 most respected CEOs. Shall we give you three guesses? Okay. If you picked Genentech's Art Levinson (photo) and Abbott Laboratories' Miles White (photo), then you're either really smart or really psychic (or you read Barron's over the weekend). The men are the only two drug chiefs to make the list.
Here's what Barron's liked: Abbott and Genentech stocks outperformed the rest of pharma over the past three years and over the past five years. What's more, Genentech managed to negotiate a $95-per-share buyout by Roche, a price that's "double the biotech industry multiple and a tribute to the research productivity" the company has become known for, Barron's wrote.
Ironically, that very buyout may end in Levinson's heading for the exit. Roche has said it wants the uber-chief to stay and play, but Levinson hasn't given any word of his plans.