Mylan's Longtime Chief Executive Got a Big Payday
When I started looking at Mylan, one thing that stood out: Executive compensation.
In 2011, Mylan’s longtime chief executive Robert Coury, who gave up the post at the end of the year to become executive chairman (he’s also chairman of the board) earned cash compensation of $7.4 million.
Sounds like a lot — and it is, especially given Mylan’s size.
According to Equilar, Coury’s cash compensation, which includes the cash bonus and non-equity incentive plan comp, is the highest in the drug industry. Runner-up, with $6.3 million, was Lamberto Andreotti of Bristol-Meyers Squibb .
Yet (and here’s the important part) Mylan’s revenues last year of $6.1 billion and market cap of around $9.4 billion are dwarfed by Bristol-Meyers, which boasted revenue last year of $21 billion and has a market cap of $55 billion.
As for total comp: Coury’s $16.7 million, including stock and options awards, was second to Ian Read’s $18.1 million at Pfizer . But Pfizer has a market cap of $168 billion and sales of $67.4 billion.
And if you were wondering: In 2011, Mylan’s stock rose 1.96 percent vs. 23.96 percent for Pfizer and 33.4 percent for Bristol-Myers.
Mylan did not respond to my inquiry about the level of Coury’s pay.
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