- cafead Feb 22, 2021 at 11:22: AM
via Novartis’ group sales took a hit from COVID-19, and so did CEO Vas Narasimhan’s 2020 pay.
The Swiss pharma handed its CEO a pay package worth CHF10.38 million ($11.61 million) for 2020, down from CHF 11.44 million in 2019, according to its annual report (PDF).
Narasimhan’s base salary did increase by 5.5% over 2019’s level, but it was the annual bonus—a large part of which was tied to Novartis’ financial performance last year—that turned out to be a drag.
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The Swiss pharma handed its CEO a pay package worth CHF10.38 million ($11.61 million) for 2020, down from CHF 11.44 million in 2019, according to its annual report (PDF).
Narasimhan’s base salary did increase by 5.5% over 2019’s level, but it was the annual bonus—a large part of which was tied to Novartis’ financial performance last year—that turned out to be a drag.
article source