Abbott's White saw compensation drop in 2011
Abbott Laboratories ($ABT) had a memorable 2011 capped off by announcing that it would split into two companies: a pharma business and a medical products company. CEO Miles White (pictured), who will continue to lead the diversified medical products company, saw his total compensation fall slightly in 2011, coming in at just above $24 million. That's down about 6% from $25.6 million a year earlier.
White's base salary increased slightly to $1.9 million--up from just over $1.89 million in 2010. However, he took a hit in stock and option awards; they were $9.76 million and $1.84 million, respectively, last year and $10.9 million and $2.73 million the year prior.
Still, he fared better than Richard Gonzalez, who will head up the soon-to-be separate research-based pharmaceuticals unit; Gonzalez saw his total compensation package fall from $7.6 million to $5.56 million.
White's compensation ranks highly in the biopharma world. But how does it compare with others in the device space? Well, former Medtronic CEO Bill Hawkins raked in $9.6 million in that company's fiscal year 2011. Siemens head Peter Löscher took in roughly €8.56 million (about $11.4 million), while Siemens Healthcare chief Hermann Requardt got €3.81 million (around $5 million).
But topping them all is Johnson & Johnson CEO Bill Weldon. His 2010 compensation was more than $28 million, and he's due a $3.1 million bonus this year.
- see Abbott's SEC filing
Special Report: Miles White - 2010 CEO Pay