Novartis CEO Vas Narasimhan navigated through a tough and transitional year at the drugmaker, racking up almost $10 million in salary, incentive pay and equity awards for his efforts. But his 2018 take-home pay took a hit on longer-term shareholder returns that weren’t up to par.
The top executive’s pay didn’t suffer, however, from a painful political scandal stemming from a consulting agreement with President Trump’s personal lawyer Michael Cohen—even though Novartis’ societal trust accounts for 8% of his target bonus.
After officially taking the helm on Feb. 1, Novartis awarded Narasimhan 9.92 million Swiss francs ($9.89 million) in compensation at grant value in 2018, according to a company filing with the U.S. Securities and Exchange Commission. That’s quite a bit less than former CEO Joe Jimenez racked up in 2017 after eight years at the helm: CHF 13.10 million ($13.05 million) in total.
Get to your own conclusions!