Daniel Vasella - 2010 CEO Pay

Daniel Vasella - Novartis

Novartis' Daniel VasellaTotal Compensation: $27 million

Details: Although Novartis official documents place Daniel Vasella's 2010 pay at 8 million francs, or $8.5 million, the company didn't consider his $12.8 million one-time retirement payout. Ethos, an activist shareholder company, determined Vasella's total pay for 2010 was 25 million francs, or $27 million. In multiple previous years, Vasella has made upwards of $21 million, according to the Wall Street Journal

Vasella's final CEO paycheck--he handed the reins over to Joe Jiminez in January 2010--left stockholders in a frenzy. At the company's annual meeting, 38 percent rejected his compensation. Novartis has upheld Vasella's and Jiminez's compensation, stating they are comparable to those received by other Big Pharma CEOs, regardless of the comparison to other Swiss firms. "We urge the board of directors to review the remuneration system and to submit it again to the vote at the 2012 annual general meeting of shareholders," said Ethos executive director Dominique Biedermann to the WSJ.

Novartis News:
Shareholders lambaste Novartis exec's pay
Novartis chief steps aside for Jimenez
New Novartis drugs deliver Q1 sales growth

Daniel Vasella - 2010 CEO Pay

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