Top Teva execs paid double in 2018 as share fell 18%

Kare Schultz Photo: PR

The five top earners were paid $55.9 million in 2018, almost double the $28.8 million that the five most senior executives received in 2017.

The five top earners at Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) were paid $55.9 million in 2018, almost double the $28.8 million that the five most senior employees earned in 2017. The salary cost doubled despite the negative yield of Teva's share price which fell 18.6% on the NYSE in 2018.

Teva CEO Kare Schultz earned $32.5 million in 2018 including a $20 million signing-on fee when joining the company, $2 million as a basic salary, $6 million remuneration in shares and a further $3.8 million in performance based pay.

Teva CFO Michael McClellan earned $4.9 million, of which $2.7 million was in share remuneration. Teva president and CEO, Global Operations Dr. Carlo De Notaristefani earned $7.2 million, of which $4.7 million was in shares. Teva EVP global R&D Dr. Hafren Fridriksdottir earned $6 million, of which $3.2 million was in shares, and Teva EVP global human resources Mark Sabag earned $5.2 million of which $3.1 million was in shares.

Published by Globes, Israel business news - en.globes.co.il - on April 17, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Kare Schultz Photo: PR
Kare Schultz Photo: PR
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