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Novartis AG (NVS) Keeps CEO Pay Steady, But Incoming Chairman Pay Drops


1/29/2014 7:58:12 AM

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Novartis kept pay for its Chief Executive Joe Jimenez steady, after cutting it last year before a Swiss vote to force companies to accept shareholder limits on executive rewards. The Basel-based drugmaker, typically the first Swiss blue-chip company pay to disclose pay, said on Wednesday Jimenez was paid 13.2 million Swiss francs ($14.69 million) in total for 2013, more than 3 million francs of it in cash. It earlier posted lower-than-expected fourth-quarter profit and said it was looking at options, such as joint ventures, for its three smaller businesses.

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