2012 pay: $4.3 million
2011 pay (April-Dec.): $2.83 million
Frans van Houten's first full year as CEO of Dutch conglomerate Royal Philips Electronics ($PHG) ended on a mixed note, with the company, in part, booking a $488.5 million net loss in its 2012 fourth quarter. A major cause: the company was assessed a massive fine over a price-fixing scandal concerning cathode-ray tubes for now-out-of-date television. Philips Healthcare, on the other hand, grew solidly. The division sells imaging equipment, ventilators and other hospital-related medical devices, and those sales hit the $13.6 billion mark in the U.S. alone during fiscal 2012, up from $12 billion in U.S. sales during 2011.
On the plus side, the division formed some new alliances, such as its partnership with Infraredx to develop an enhanced high-tech catheterization lab. On the downside, Philips Healthcare's Respironics arm conducted at least two ventilator recalls in 2012 due to possible motor failure for its V60 ventilators.
Van Houten's 2012 compensation included a $1.43 million base salary, a nearly $1.7 million "annual incentive," and $273,714 in stock options.
- read Philips' annual report (PDF)
Philips Healthcare sales stepped up solidly in Q4
Philips, Infraredx partner on enhanced cath lab project
Philips' Respironics launches another ventilator recall