2013 pay: $20.8 million
2012 pay: $25 million
After spinning off Abbott's ($ABT) brand-name drug business into AbbVie ($ABBV) in 2012, Miles White zeroed in on med tech revenue as a way to boost the company's numbers. Part of White's game plan involved increasing Abbott's presence in diagnostics and focusing on reliable products, and so far, the company has delivered. Diagnostic sales increased 6% in Q4 2013, with medical devices generating $1.4 billion in sales--a 2% climb from Q4 2012.
Some of that success can be attributed to the company's M&A push. In July, White beefed up the Abbott's cardiac device offerings with a $310 million acquisition of IDEV Technologies, the maker of a CE-marked stent to treat peripheral artery disease. The company closed its OptiMedica deal the following month, gaining entry to a growing laser-assisted cataract surgery market.
The company also touted positive study results and celebrated a series of regulatory blessings, including an FDA OK for its strain-identifying hep C diagnostic and a long-awaited approval for its MitraClip device. In June, the company kicked off a trial to market its Absorb dissolvable stents in Japan, and is pushing for approval of the devices at home.
White's 2013 compensation included $1.9 million in base salary, $7.3 million in stock awards, $7 million in options and $3.1 million in nonequity incentives. -- Emily Wasserman (email | Twitter)
- read Abbott Laboratories' proxy statement
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