Johnson & Johnson (NYSE:JNJ) yesterday escaped a shareholders derivative lawsuit alleging that the company over-paid former CEO William Weldon, who presided over a spate of recalls that bedeviled the healthcare giant a few years back.
Executive Compensation
Medtech makers continue shift in CEO pay
Varian CEO Guertin to retire
The CEO of Varian Medical (NYSE:VAR) is planning to retire from the corner office in September, to be replaced by COO Dow Wilson, according to a regulatory filing.
Smith & Nephew shareholder faction opposes CEO Bohuon’s $2.5M “golden hello” | Personnel Roundup
A significant chunk of Smith & Nephew‘s (FTSE:SN; NYSE:SNN) shareholders withheld their endorsement or voted outright against a $2.5 million "golden hello" for new CEO Olivier Bohuon after an advisory board recommended a veto.
Abbott brass takes pay cuts | Personnel Moves
Boston Scientific ties employee bonuses to overall company performance | Personnel Moves
Boston Scientific (NYSE:BSX) employees could see their annual bonus payments shrink or grow based on the device maker’s adjusted earnings per share and global sales by the end of the year, thanks to a new performance incentive plan for 2012.
The Natick, Mass.-based med-tech titan reconfigured its employee reward system, tying the total potential payout for all regions and division into a single pool, the value of which fluctuates along with the company’s performance in 2012.
Boston Scientific ties employee bonuses to overall company performance
Boston Scientific (NYSE:BSX) employees could see their annual bonus payments shrink or grow based on the device maker’s adjusted earnings per share and global sales by the end of the year, thanks to a new performance incentive plan for 2012.
The Natick, Mass.-based med-tech titan reconfigured its employee reward system, tying the total potential payout for all regions and division into a single pool, the value of which fluctuates along with the company’s performance in 2012.
AngioDynamics CEO: Navilyst deal hits the reset button | Wall Street Beat
Updated February 1, 2012 at 5:30 p.m.
The $372 million buyout of Navilyst Medical by AngioDynamics (NSDQ:ANGO) is a reset button that will reinforce the combined operation for the future, AngioDynamics CEO Joe DeVivo told MassDevice this afternoon.
Orsinger alights with $52M golden parachute from Synthes sale | Acquisitions Roundup
Synthes CEO Michel Orsinger will land a $52 million payout to give up the corner office as part of the Swiss orthopedic device maker’s $21.3 billion buyout by med-tech titan Johnson & Johnson (NYSE:JNJ).
The deal, slated to close in early 2012, includes a $51.9 million payout to Orsinger for leaving Synthes and a multimillion-dollar stock package for his new position with Johnson & Johnson.
Bovie Medical slaps COO over credentials
Bovie Medical Corp. (NYSE:BVX) is demoting COO Moshe Citronowicz and cutting his pay and benefits after determining that he misrepresented his academic career.
Citronowicz, who has been with the electrosurgery company since 1993, claimed to have a bachelor’s degree in electrical engineering from Israel’s University of Be’er Sheva, according to a regulatory filing.
Baxter CEO Parkinson cashes in, reaps $14 million | Wall Street Beat
Robert Parkinson Jr., chairman & CEO of Baxter International (NYSE:BAX), added 20 percent to his paycheck total from last year by cashing in on stock options for the first time.
Parkinson, 60, who earned $11.5 million last year, netted $14.1 million last month after exercising the options and selling stock.