BS CEO gets $33.4M; Baxter chief's pay falls

J. Raymond Elliott, who took over as Boston Scientific's CEO last July when James Tobin retired, racked up $33.4 million in salary, bonuses and perks, according to an SEC filing.

At $598,356, Elliott's salary is relatively low. But his overall pay includes a $1.5 million signing bonus, as well as roughly $29 million in stock and options, according to the Associated Press. Last year, the CEO was also granted $1 million in relocation costs for his move to the Massachusetts-based company's headquarters, and $197,906 for use of Boston Scientific's private aircraft. Tobin, meanwhile, brought home more than $13.5 million

The devicemaker lost $1 billion in 2009, thanks in part to massive legal bills resulting from its patent disputes with Johnson & Johnson over drug-coated stents, according to BusinessWeek. The company announced last month that it would eliminate 1,300 jobs in a worldwide restructuring. About 500 of those jobs are expected to be cut from the company's Minnesota operations this week.

- see the SEC filing detailing more about the compensation
- here's the BusinessWeek article
- read more on the layoffs

ALSO: Baxter International chairman and CEO Robert Parkinson saw his compensation fall to under $14.4 million last year--down from $14.8 million in 2008, according to regulatory filings. Parkinson's salary was just over $1.342 million--only slightly up from 2008's $1.339 million. Article

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