Outgoing Amgen CEO May Receive $49 Million After Retirement
Published: Mar 26, 2012
The outgoing leader of biotechnology company Amgen Inc. (AMGN) could receive payments and deferred compensation totaling more than $49 million after he retires. Kevin Sharer, 64, plans to step down as chief executive in May and as chairman at the end of 2012, after more than a decade at the helm of the Thousand Oaks, Calif., company. President and Chief Operating Officer Robert Bradway, 49, will succeed Sharer as CEO. Sharer isn't the only retiring drug company CEO to be poised for hefty post- retirement payments. Johnson & Johnson (JNJ) disclosed earlier this month that the estimated value of William Weldon's pension and deferred compensation was more than $143 million. Weldon is stepping down as CEO in April but will remain chairman for an undisclosed period.