HARTFORD - Marijn E. Dekkers, the chief executive of Thermo Fisher Scientific Inc., received a 2008 pay package of $18.7 million, several times the $3.3 million he earned the previous year, according to an Associated Press analysis of data filed with regulators yesterday.
While the economy tanked, huh?
The dramatic increase was mainly due to a large award of stock options in 2008, but the value of the options has dramatically fallen since then. Dekkers, 51, was paid a 2008 salary of nearly $1.2 million, a 3 percent increase from 2007, according to a Securities and Exchange Commission filing. He also was paid a $1.9 million performance-related bonus. The bulk of his 2008 pay package came in stock and option awards valued at $15.5 million when they were granted.
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And he wasn't the only one:
Vertex Pharmaceuticals Inc. chief executive Joshua Boger was paid $8.5 million last year, up from $8.2 million in 2007, the company said in a filing with the Securities and Exchange Commission. That does not include the $2.8 million Vertex recently agreed to give him in severance after he steps down on May 23.
Nice going away gift, 'eh?
And yet this cretin got a raise?
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Update:
"Genzyme CEO gets small boost in pay" by Associated Press | April 14, 2009
Henri Termeer, chief executive of the Cambridge biotech Genzyme Corp., received a 1 percent boost in compensation in 2008, but much of it came in the form of stock options that are now worth less than when the company granted them, according to an Associated Press analysis of data filed with regulators yesterday.
Termeer's overall compensation rose to just under $12.7 million from just under $12.6 million a year before. His salary rose 5 percent to $1.6 million, but his performance-based bonus fell about 8 percent to about $2 million. Other compensation, which includes jet travel reimbursement and insurance, increased 9 percent to $115,502.
How sweet that they make so much and the company still picks up all their expenses. They do that for you, 'murkn s***-eaters?
The bulk of his compensation, though, came in the form of stock options and restricted stock valued at about $9 million, or a 3 percent boost from the prior year. But, that is now worth less than the $68.48 per share value when it was granted in March 2008. Shares closed yesterday at $55.48.
Oh, the poor SOB! How will he ever get by on a mere $12 million dollars!
And here is the gall: article filed under "healthcare"
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That about says it all regarding the agenda-pushing MSM, doesn't it?
