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.