GlaxoSmithKline ($GSK) CEO Andrew Witty has another reason to lament European austerity. Witty's performance-based pay totaled £2.81 million for 2012, down from £5.74 million in 2011. (That's about $4.24 million and $8.6 million, respectively, at today's exchange rates.) His total compensation came in at £3.89 million. In dollars, Witty's 2012 compensation amounted to about $5.86 million. R&D chief Moncef Slaoui lost proportionately less. In fact, thanks to the research group's "very successful year," his total compensation came in at $3.09 million, down from $3.5 million in 2011, as he qualified for 67% of his possible performance-pay max. Total compensation for the year: $4.61 million. Story
Editor's note: This story has been corrected; The original item inaccurately cited Moncef Slaoui's pay in GBP, which were converted to a higher dollar rate. Slaoui actually earned somewhat less than Witty last year.