|Ex-Medtronic CEO William Hawkins made about $8 million in 2012--courtesy of Medtronic|
Despite ceding the reins to Omar Ishrak in June 2011, former Medtronic ($MDT) CEO William Hawkins made just over $8 million in fiscal year 2012, MassDevice reports.
Hawkins became a non-executive consultant after Ishrak's hiring, and he served in that role until April 2012. His $8 million haul includes a $1.25 million base salary, about $2.6 million in incentives and a $3.8 million severance payment, according to an SEC filing.
The former Medtronic CEO has since moved on to become CEO of diagnostics firm Immunocore, and he also serves in the FDA's entrepreneur in residence program and on the board of devicemaker Thoratec, MassDevice reports.
Hawkins announced his retirement back in 2010, but stayed a couple of months longer than planned as the company vetted his potential replacements. The board picked ex-GE Healthcare ($GE) CEO Ishrak, who took over in June 2011.
Special Report: Top 10 Medical Device Industry CEO Salaries for 2011