2014 pay: $9.5 million
2015 pay: $11.3 million
2015 was a transitional year for Zimmer ($ZMH) after its $13 billion merger with Biomet closed. Zimmer Biomet under the stewardship of CEO David Dvorak promised $350 million in pretax net synergies by year three of the new company, with $135 million of those savings during the first year.
Dvorak pledged not to let go of any salespeople after the merger, but the deal layoffs elsewhere. In May 2015, Zimmer announced that it would close its Carlsbad, CA, dental headquarters and would cut an unspecified number of jobs.
A few months later, a California WARN notice showed that 279 jobs would be axed at the end of October due to the closure of Zimmer’s dental HQ, which comprised manufacturing and distribution facilities.
Once Dvorak cleaned up shop a bit, the company turned back to dealmaking. Zimmer Biomet recently snatched up Cayenne Medical to build out its sports medicine offerings and beef up its Sports Medicine business, one of its top performers.
Dvorak’s $11.3 million in pay in 2015 included a $1 million base salary, $3.7 million in stock awards, $3.7 million in options and $1.7 million in non-equity incentives.
- here’s Zimmer’s proxy statement
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