Wyeth Bumps Up Its New CEO's Salary
The AP reported today that Wyeth raised the salary of its new chief executive.
President and Chief Executive Bernard Poussot will receive an annual base salary of $1.5 million, effective Jan. 1, and receive 120,000 restricted stock units that will begin to vest after three years. Poussot was promoted to CEO effective in January. Remember, this is just Poussot's base salary.
I guess the Board of Directors felt that Bernie needed some front end incentives to keep Wyeth's stock price above $45 per share-not that there is anything wrong with that! However, I find it troubling that executives are still getting pay raises when thousands of pharma and biotech employees are losing their jobs. Go figure.....
Until next time...
Good Luck and Good Job Hunting!!!!!!!!
