Saturday, July 4, 2009

The Science of a CEO

"Boston Scientific names new CEO; Veteran executive Elliott to take helm as Tobin steps down" by Robert Weisman, Globe Staff | June 26, 2009

In a filing with the Securities and Exchange Commission yesterday, Boston Scientific said veteran medical device executive Ray Elliott would receive a sign-on bonus of $1.5 million, an annual base salary of $1.2 million, and a target bonus incentive amounting to 120 percent of his base salary. It also listed other compensation, including stock options to purchase 3.4 million shares of company stock as well as 1 million deferred stock units.

The filing said president and chief executive Jim Tobin will remain at the company through Nov. 30 as a senior adviser, continuing to be paid at his current annual base salary of $994,000. He is also eligible to receive a 2009 prorated bonus of up to 120 percent of his salary. Tobin is entitled to receive $3.2 million in severance when he retires, including the prorated bonus, according to the company’s 2009 proxy statement....

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"CombinatoRx in ‘creative’ merger with Canadian firm" by Robert Weisman, Globe Staff | July 2, 2009

The company cut about 80 jobs last year....

CombinatoRx chief executive Alexis Borisy will receive a severance payment of $932,500 and a bonus payment of $150,000, according to a regulatory filing yesterday. A separate filing said CombinatoRx will eliminate another 20 jobs in the merger....

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