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Apr 15, 2013

CEO Perks

These 18 top dogs have got it good.

CEO Perks

Many CEOs receive plenty of job perks, including personal use of a company car and driver. [© dalaprod - Fotolia.com]

  • Robert L. Parkinson, Jr.

    Baxter International, chairman and CEO

    Perks and “all other” compensation: $9,012, reflecting in part $7,500 in 401(k) contributions. Company said its “limited range of perquisites” for named executive officers included “limited personal travel on company aircraft,” and an annual physical exam. “In 2012, the aggregate incremental cost associated with providing these perquisites was less than $10,000,” Baxter stated in its Proxy Statement, filed March 22.

    Total 2012 compensation: $17,521,770

    Top three elements: Stock awards, $6.348 million; Non-equity incentive plan compensation, $4.279 million; Option awards, $3.923 million

  • Ian Read

    Pfizer, chairman and CEO

    Perks and “all other” compensation: $409,892, consisting of $224,438 in company matching contributions to its Savings Plan and Supplemental Savings Plan; and “Incremental Cost of Perquisites” totaling $174,204, including:

    • $108,364: Company aircraft usage
    • $48,085: Car usage with driver
    • $10,000: Financial counseling services: Taxable allowance of up to $10,000 per year, which may include tax preparation and estate planning services
    • $7,476: Home security systems: Available to Read and other ELT members. The cost of any such systems is imputed as income to the recipients, as required
    • $279: Personal benefits provided in association with business travel
    • Unspecified: Tickets: Season and other tickets to sporting, cultural and other events for use in connection with its business. On occasion, these tickets are provided to employees, including ELT members, and non-employee directors for personal use. There is no incremental cost associated with such tickets or other items

    Total 2012 compensation: $25,634,136

    Top three elements: Change in pension value and non-qualified deferred compensation earnings, $7.147 million; Option awards, $6.498 million; Stock awards, $6.442 million

  • Severin Schwan

    Roche, CEO

    Perks and “all other” compensation: No separate line, but 2012 Annual Report discloses that total 2012 compensation includes:

    • CHF 30,000 ($32,282): Annual expense allowance
    • CHF 10,335 ($11,121): Payments for tax consulting services, excluding employer contribution to Swiss social security programs AHV/IV/ALV, providing retirement, disability and unemployment benefits

    Total 2012 compensation: CHF 12,537,385 ($13,490,851)

    Top three elements: Salary, CHF 4 million ($4.304 million); Stock-settled stock appreciation rights, CHF 4 million; non-voting equity securities subject to 10-year blocking period, CHF 2.513 million ($2.704 million)

  • Kevin W. Sharer

    Amgen, CEO through May 23, 2012; chairman through December 31, 2012

    Perks and “all other” compensation: $1.357,579, consisting of $726,414 in company credits to supplemental retirement plan; $25,000 in company contributions to supplemental retirement plan; and “Perquisites and Other Compensation” totaling $606,165:

    • $261,712: Personal use of company aircraft
    • $20,346: Personal use of company car and driver
    • $15,040: Expenses related to guests accompanying Sharer on business travel
    • $15,000: Personal financial planning services, including tax preparation services
    • $23,346: Personal expenses on business travel
    • $270,721: Other expenses include gifts, the cost of executive physicals, and personal transportation-related costs

    The $270,721 includes the aggregate incremental cost of providing Sharer with the following benefits following his retirement as CEO:

    For secretarial, information technology and travel support—approximately:

    • $140,000 for the estimated cost of providing Sharer with a secretary and travel support from January 1, 2013, through December 31, 2017
    • $2,000 for the estimated cost of providing Sharer with information technology support from January 1, 2013, through December 31, 2017
    • $23,000 for the cost of providing Sharer’s secretary with a home office and
    • $92,927 for the cost of providing secretarial, information technology, and travel support during 2012, unrelated to Sharer’s services as an employee during that period

    2012 total compensation: $9,128,712

    Top three elements: Stock awards, $3.657 million; Non-equity incentive plan compensation, $2.308 million; Salary, $1.806 million

  • Pascal Soriot

    AstraZeneca, CEO effective October 1, 2012

    Perks and “other” compensation: No details furnished

    Total 2012 compensation: £3.693 million ($5.682 million)2

    Top three elements: Award of restricted shares, £2 million ($3.077 million)9; Benefits £1.017 million ($1.565 million)10; Annual bonus for performance during 2012 of 122% of base salary out of a maximum possible award of 180%, £335,000 ($515,410)11

  • Christopher Viehbacher

    Sanofi, CEO

    Perks and “other” compensation: Reported in 2012 Annual Report as “Benefits in kind,” €4,051 ($5,310), which “relates principally to a company car.”

    Total 2012 compensation: €7,481,151 ($9,806,131)2

    Top three elements: Variable compensation, €2.28 million ($2.973 million); Stock options awarded, €2.021 million ($2.649 million); Performance shares awarded, €1.938 million ($2.541 million)

  • William Weldon

    Johnson & Johnson, CEO until April 26, 2012, and chairman until December 28, 2012

    Perks and “all other” compensation: $234,688, consisting of $ 59,426 in registrant contributions to defined contribution plans; $5,516 in tax reimbursements6; $1,447 in insurance premiums; and “perquisites and other personal benefits” totaling $168,299:

    • $127,901: Personal use of the corporate aircraft
    • $39,688: Car and driver for commutation and other personal transportation
    • Undisclosed: Home security monitoring fees—a portion of the $710 difference between reported $168,299 for “perquisite and other personal benefits” and the costs of corporate aircraft and car and driver

    Total 2012 compensation: $29,838,259

    Top three elements: Non-equity incentive plan compensation, $13.448 million; Stock awards, $7.565 million; Option awards, $4.020 million

  • Miles D. White

    Abbott Laboratories, chairman and CEO

    Perks and “all other” compensation: $869,713, consisting of

    • $392,759 in earnings, fees and tax payments for non-qualified defined benefit and non-qualified defined contribution plans
    • $213,435: Non-business related flights
    • $168,519: Security costs
    • $95,000: Employer contributions to defined contribution plans
    • Also, White was also eligible as CEO for up to $10,000 of annual costs associated with estate planning advice, tax preparation and general financial planning fees. Benefit not used in 2012

    Total 2012 compensation: $25,118,836

    Top three elements: Stock awards, $9.429 million; Change in pension value and non-qualified deferred compensation earnings, $6.163 million; Non-equity incentive plan compensation, $4.7 million

  • Sir Andrew Witty

    GlaxoSmithKline, CEO

    Perks and “other benefits”: £49,000 ($75,390), “including healthcare, car, personal financial advice, life assurance and matching shares under the ShareReward Plan.12

    Total 2012 compensation: £3.892 million ($5.988 million)2

    Top three elements: Performance share plan, £1.78 million ($2.739 million); Salary, £1.033 million ($1.589 million); Annual bonus, £905,000 ($1.392 million), of which Witty deferred 50% or £452,000 ($695,423)


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