Bristol-Myers Squibb’s Lamberto Andreotti, due to retire as CEO in May, pulled in compensation valued at more than $27 million last year, up nearly 30% from 2013.
Andretti’s compensation included a $1.7 million salary, a $18 million stock award and $5.6 million incentive award, Bristol-Myers BMY said in its annual proxy, filed Thursday.
Directors considered Andreotti’s leadership, shareholder return and drug pipeline in awarding his incentive award. Revenue and earnings per share also came in above target.
Andreiotti gained another $31.7 million exercising previously awarded stock and another $2.6 million from stock option gains.
Lamberto, 64, will remain as Bristol’s executive chairman. Dr. Giovanni Caforio, currently COO, will take over Lamberto’s job.
Andreotti was named CEO in May 2010. BMG says its five year total shareholder return was 183%, outpacing the Standard & Poors 500’s 105% gain.
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