2012 pay: $10.3 million
2011 pay: $9.4 million
Covidien's ($COV) José Almeida presided over a device giant in transition since taking the reins in 2011, as the company prepares to divorce its pharma arm and double down on medical device R&D.
Under Almeida's watch, Covidien is paring down its U.S. manufacturing footprint, planning to slash about 800 jobs in closing plants in New York and South Carolina. All the while, Covidien is ramping up its research spending, looking to get drug-coated balloons and renal denervation devices approved and marketed around the globe. Meanwhile, Almeida's company is gearing up to spin out Mallinckrodt, its generic drug business, later this year, a move that has analysts rosy about the future of a focused, drug-free Covidien.
In 2012, Almeida drew a base salary of $1.2 million, added to $4.5 million in stock awards, $2.7 million in option awards, $1.7 million in nonequity incentives and nearly $200,000 in other compensation.
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