Former Chairman and CEO, Johnson & Johnson
Total Compensation: $29.839 million
Professional Profile: William Weldon, 64, had occupied Johnson & Johnson's ($JNJ) CEO suite for more than a decade when he stepped aside in April 2012 to make room for incoming chief Alex Gorsky. In fact, he started working at the company fresh out of Quinnipiac University in 1971, as a sales rep in the McNeil Pharmaceutical division. The last few years of his tenure were pretty rocky, marked by huge recalls, a raft of liability lawsuits, government investigations and shareholder unrest. A perennial entry at or near the top of FiercePharma's highest-paid CEOs list, Weldon left J&J with $143.5 million in pension, retirement benefits and deferred compensation.
Compensation Breakdown: $1.32 million in salary, $7.56 million in stock, $4.02 million in options and $13.45 million in incentive pay, plus $234,688 worth of perks, car service, company aircraft privileges and other compensation. His pension and deferred compensation increased by $3.25 million.
Company Performance: Johnson & Johnson's recent past may have been sullied by unflattering headlines about recalls and lawsuits, but the company has had some sunny news, too. Notably, J&J has turned out several new drugs at a time when everyone in Big Pharma is struggling to make up sales lost to the patent cliff. Its prostate cancer pill Zytiga and blood thinner Xarelto have quickly become solid additions to J&J's revenue stream. And the company was one of only four top drugmakers to actually grow sales last year, to $67.2 billion. If it can only fix its McNeil Consumer Healthcare problems, its sales may step upward even more.
The company also wrapped up a major buyout last year, albeit on the device side of the business, and engineered by Weldon's successor. In its biggest buyout deal ever, J&J merged Swiss-based Synthes, bought for $19.7 billion, with its DePuy unit. The deal closed a couple of months after Gorsky took over as CEO.
Special reports: Pharma's Top 5 Golden Handshakes of the Last 5 Years | Top 10 Pharma CEO Salaries of 2011 | Johnson & Johnson's Bill Weldon - CEO Pay
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