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Insight & Intelligence™ : Sep 9, 2013

Top 20 CEO Salaries: Biotech Tool Providers

Running a large instrumentation company is not a bad-paying job as these 20 men can attest.

Following is a list of 20 current or former CEOs of life sciences tools and technologies providers who led their companies for at least part of 2012, ranked by their "total compensation" last year. Total compensation goes beyond salary to include bonuses, stock awards, stock option awards, nonequity incentive plan compensation, and all other sources of compensation. For each CEO ranked, the list offers 2012 and 2011 compensation, the percentage change between the amounts.

This year, unlike last year, rankings are of individuals rather than companies to align with GEN’s similarly reranked list of biopharma CEOs published earlier this year. Also unlike GEN’s first such list in 2012 (See "Top 15 CEO Salaries: Biotech Tool Providers", published September 11, 2012, in GEN), less than half (eight of 20 CEOs) saw their total compensation increase over the previous year, compared with 10 of the top 15 CEOs ranked by GEN in 2011.

One possible reason: Most tools companies focused more of their spending on R&D (See "Top 22 R&D Spenders among Tool and Technologies Companies," published in GEN April 2, 2013). Another possibility: Tools and tech companies opted to use cash on hand for acquisitions as the segment consolidates among fewer players, reflected best by Thermo Fisher Scientific’s plans announced in April to acquire Life Technologies.

Four of this year’s Top 20 CEOs either assumed their positions or added to their responsibilities in 2011 or 2012. As with the biopharma CEO pay list, all of the top-paid tools-tech CEOs were male.

#20. Frank Witney, Ph.D.

President and CEO of Affymetrix

2012 Compensation: $657,291

2011 Compensation: $2,739,8351,2

% Change: -76.0%

#19. Douglas A. Berthiaume

Chairman, President, and CEO of Waters

2012 Compensation: $1,062,972

2011 Compensation: $2,646,730

% Change: -59.8%

#18. Gajus V. Worthington

President and CEO of Fluidigm

2012 Compensation: $1,352,917

2011 Compensation: $1,108,469

% Change: 22.1%

#17. Peer M. Schatz

Managing Director, CEO of Qiagen

2012 Compensation: $1,399,000

2011 Compensation: $1,845,000

% Change: -24.2%

#16. Frank Laukien

Chairman, President, and CEO of Bruker

2012 Compensation: $1,860,6023

2011 Compensation: $892,100

% Change: 108.6%

#15. Max Carnecchia

President and CEO of Accelrys

2012 Compensation: $1,881,828

2011 Compensation: $1,486,023

% Change: 26.6%

#14. Michael W. Hunkapiller, Ph.D.

President, CEO, and Chairman of the Board of Directors of Pacific Biosciences

2012 Compensation: $2,177,0024

2011 Compensation: N/A

% Change: N/A

#13. Harry F. Hixson, Jr.

CEO of Sequenom

2012 Compensation: $2,368,033

2011 Compensation: $3,154,159

% Change: -24.9%

#12. Patrick J. Balthrop, Sr.

President and CEO of Luminex

2012 Compensation: $3,214,478

2011 Compensation: $3,782,017

% Change: -15.0%

#11. John L. Bishop

CEO and Director of Cepheid

2012 Compensation: $3,776,595

2011 Compensation: $4,576,225

% Change: -17.5%

Following is a list of 20 current or former CEOs of life sciences tools and technologies providers who led their companies for at least part of 2012, ranked by their "total compensation" last year. Total compensation goes beyond salary to include bonuses, stock awards, stock option awards, nonequity incentive plan compensation, and all other sources of compensation. For each CEO ranked, the list offers 2012 and 2011 compensation, the percentage change between the amounts.

This year, unlike last year, rankings are of individuals rather than companies to align with GEN’s similarly reranked list of biopharma CEOs published earlier this year. Also unlike GEN’s first such list in 2012 (See "Top 15 CEO Salaries: Biotech Tool Providers", published September 11, 2012, in GEN), less than half (eight of 20 CEOs) saw their total compensation increase over the previous year, compared with 10 of the top 15 CEOs ranked by GEN in 2011.

One possible reason: Most tools companies focused more of their spending on R&D (See "Top 22 R&D Spenders among Tool and Technologies Companies," published in GEN April 2, 2013). Another possibility: Tools and tech companies opted to use cash on hand for acquisitions as the segment consolidates among fewer players, reflected best by Thermo Fisher Scientific’s plans announced in April to acquire Life Technologies.

Four of this year’s Top 20 CEOs either assumed their positions or added to their responsibilities in 2011 or 2012. As with the biopharma CEO pay list, all of the top-paid tools-tech CEOs were male.

#10. Olivier A. Filliol

President and CEO of Mettler Toledo

2012 Compensation: $4,384,508

2011 Compensation: $5,251,183

% Change: -16.5%

#9. Norman Schwartz

President, CEO, and Chairman5 of Bio-Rad Laboratories

2012 Compensation: $4,520,753

2011 Compensation: $3,844,998

% Change: 17.6%

#8. Rakesh Sachdev

President and CEO of Sigma-Aldrich

2012 Compensation: $4,585,422

2011 Compensation: $3,915,529

% Change: 17.1%

#7. Jay T. Flatley

President, CEO, and Director of Illumina

2012 Compensation: $8,171,0806

2011 Compensation: $9,944,147

% Change: -17.8%

#6. Vincent A. Forlenza

Chairman, CEO, and President of Becton Dickinson

Year Ending September 30, 2012 Compensation: $9,418,2767

Year Ending September 30, 2011 Compensation: $5,018,8547,8

% Change: 87.7%

#5. William P. Sullivan

President and CEO of Agilent Technologies

2012 Compensation: $10,135,717

2011 Compensation: $10,252,264

% Change: -1.1%

#4. Gregory T. Lucier

Chairman and CEO of Life Technologies9

2012 Compensation: $10,268,445

2011 Compensation: $10,897,630

% Change: -5.8%

#3. Robert F. Friel

Chairman and CEO of PerkinElmer

2012 Compensation: $10,832,610

2011 Compensation: $12,819,181

% Change: -15.5%

#2. Marc N. Casper

President and CEO of Thermo Fisher Scientific

2012 Compensation: $13,555,10110

2011 Compensation: $5,516,567

% Change: 145.7%

#1. H. Lawrence Culp, Jr.

President and CEO of Danaher

2012 Compensation: $21,898,728

2011 Compensation: $21,652,417

% Change: 1.1%