Pfizer Inc. boosted Chief Executive Officer Ian Read’s compensation for 2017 to $27.9 million, a 61 percent increase, to ensure he stays on the job. But the company's emerging markets sales are growing, if not as quickly as it may have hoped. He was succeeded as CEO by Albert Bourla on 1 January 2019, becoming executive chairman. He received $17.3 million for 2016.Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.Read’s pay included an $8 million special equity award that will vest if the drugmaker’s average stock return tops 25 percent for 30 consecutive trading days before the end of 2022, the company said Thursday in a filing. Ian Read. Chairman and CEO, Pfizer. There are 4 executives at Kimberly-Clark getting paid more, with Michael Hsu having the highest compensation of $12,028,100. Pfizer's CEO Ian Read could make almost $28 million in the next year to keep him from retiring. Text Pfizer Inc. said Tuesday that Chief Executive Ian Read’s total compensation fell 23% last year, partly due to a decrease in stock awards. He has accumulated $15.7 million under two pension plans. As a member of Board of Directors at KIMBERLY CLARK CORP, Ian C. Read made $320,000 in total compensation. What is the salary of Ian Read? The company's workforce shrank by more than 12,000 last year, and more layoffs were announced in December.
Even the company's new childhood vaccine, Prevnar 13, acquired along with Wyeth in 2009, began to falter. Read, who turns 65 in May, also must remain CEO through at least next March and not work for a competitor for a minimum of two years after that to be eligible. Ian C. Read (born 1953) is a Scottish-born American business executive, a chartered accountant, serving as executive chairman of pharmaceutical giant Pfizer. Shingrix sales in Q2 plummeted by half from Q1 levels, and recovery of vaccination rates remains slow amid the pandemic.Read announced his intent to spin off or sell two business units back in 2011, and last year, the plan started coming to fruition. An R&D restructuring also contributed to planned cost savings of $4.5 billion a year. Read has been with the company for 34 years.The 59 year old executive ranks 10 within Drugs & Biotechnology As the Lead Independent Director of Kimberly-Clark, the total compensation of Ian Read at Kimberly-Clark is $320,000. Shares of the company returned 16 percent last year, including reinvested dividends, trailing the 22 percent gain for the S&P 500 Health Care Index.In addition to the retention award, Pfizer granted Read a $1.96 million salary, $2.6 million bonus and $13.1 million of equity awards that are linked to goals including stock price and adjusted operating income. That unit's bond sale and IPO, wrapped up early this year, beat all expectations.Sanofi's cost cuts are adding up, execs said in an update Wednesday. In January, the company halted research and development for new neuroscience drugs, including its work on Alzheimer’s and Parkinson’s diseases.The board approved the award because it’s a “compelling incentive” for him to keep running the firm, even though he’s eligible to retire, New York-based Pfizer said in the filing. Pfizer sold its nutrition unit to Nestle for $11.9 billion and laid the legal groundwork for the spinoff of its animal health division, Zoetis. The company's designated core operations--its R&D-based pharma business, and its "value" businesses in off-patent drugs and consumer healthcare. It was a tough year, saleswise; generic competition for key products, including Pfizer's longtime best-seller Lipitor, took a $7-billion-plus bite out of revenue. Total Compensation: $25.634 million. More importantly, 5 new drugs won regulatory approval before year's end, including the orphan drug Elelyso, for Gaucher disease; the rheumatoid arthritis fighter Xeljanz; and the anticoagulant Eliquis, widely pegged as a major blockbuster.Meanwhile, the company has been slimming down in another way: by cutting costs. Professional Profile: Ian Read, 59, has spent his entire career at Pfizer ($PFE), joining the company in … Strangely enough, he may earn it given the healthcare and political environment. Ian C Read has been CEO of Pfizer for one year.Mr. The company has trimmed nearly €1 billion in annual expenses so far in 2020.With its trials and pricing set, Pfizer has pulled back the curtain on the long-range commercial strategy for its COVID-19 vaccine.What's left?
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