Bristol-Myers Squibb Company CEO Gets 27% Pay Increase, GlaxoSmithKline CEO Pay Package Doubles
Published: Mar 13, 2012
Bristol-Myers Squibb Co. (BMY) Chief Executive Officer Lamberto Andreotti received a 27 percent increase in total compensation after a new skin cancer drug gained approval and contributed to higher sales and profits. Andreotti’s total compensation rose to $14.9 million in 2011 from $11.8 million a year earlier, according to a regulatory filing. The pay included a bonus of $4.2 million related to the company’s financial results, share price increase and the start of sales for the melanoma drug Yervoy, according to the filing. Andreotti also received an 11 percent base salary increase to $1.5 million effective April 1, 2011, “to bring him closer to competitive market levels,” the company said in the filing.
Meanwhile, the pay of GlaxoSmithKline PLC's (GSK) chief executive almost doubled to GBP6.8 million last year, despite a drop in sales at the drugs company, reports The Times Tuesday, citing the company's annual report.
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