J&J: Gorsky climbs ranking of highest paid CEOs

The fact that Johnson & Johnson CEO Alex Gorsky got a raise in 2017 isn't all that surprising. After all, his salary package has been increasing little by little over the last few years. His bonuses increased by $2.7 million, while his compensation, based on incentives, decreased by just over $1 million.

The grand total for the past year was $29.8 million. Compared to 2015, the total amount of compensation was approximately $6 million higher. In doing so, Gorsky moved closer to the top of the 2017 pharmaceutical world CEO salary rankings, currently dominated by Allergan CEO Brent Saunders, with a compensation package worth $32.8 million.

More marked are the increases enjoyed by two members of Gorsky's team. Pharmaceutical chief Joachin Duato's compensation rose from $9 million to $19 million, while Sandra Peterson, who oversees J&J's supply chain, operations, technology and medical devices, saw her salary rise to just over $17 million.

The statement outlines both executives' accomplishments for the year 2017: Duato, J&J's executive vice president since April 2016 and global president of pharmaceuticals since 2011, exceeded all of J&J's financial goals for its pharmaceuticals unit. He also got credit for the acquisition of Actelion. Peterson, on the other hand, has made strides with medical devices, a unit that has been plagued by litigation and increased competition in recent years. It improved the unit's “quality, execution and competitiveness”. In addition, the company's vision care business exceeded its financial goals for the year and closed three acquisitions.

Daily Health Industry – April 3, 2018

Related news: J&J's Duato, Peterson nab hefty retention bonuses as CEO Gorsky's pay hits $29M

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