The trickle of 2014 financial statements by listed companies has already revealed a number of executives and controlling shareholders who benefited from a successful year, with gratifying salaries and employment terms. At the head of this year's salary table, by a wide margin, are the executives of pharmaceutical powerhouse Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA).
Teva's top five executives last year were paid a generous aggregate NIS 95 million ($24.5 million), led by former Teva Americas Generics president and CEO Allan Oberman, whose employment cost an annual $7.3 million (NIS 28.5 million). Oberman, who ended his term in late 2014, earned $850,000 in salary, and received a $1.2 million bonus and $4.5 million in remuneration relating to the termination of his employment. Oberman will also be entitled to payment from Teva in 2015 under certain conditions.
Oberman is followed in the table by Teva chief scientific officer Dr. Michael Hayden, whose employment cost $5.2 million (NIS 20 million), and CEO Erez Vigodman, with $4.5 million (NIS 17.5 million). Closing out the top five are head of business development Asia Pacific Prof. Itzhak Krinsky and group executive VP and chief legal officer Richard Egosi, whose employment cost NIS 15 million each ($3.7-3.8 million).
Published by Globes [online], Israel business news - www.globes-online.com - on March 1, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015