Omar Ishrak - Medtronic


Omar Ishrak

2012 pay: $25.6 million
2011 pay: N/A

Omar Ishrak, Medtronic's ($MDT) freshman CEO, hauled in quite a sum in his first fiscal year running the world's largest medical device company, but don't expect to see this kind of payout in FY13. Medtronic lured Ishrak from GE Healthcare ($GE), where he was CEO, and the company handed over a one-time signing bonus and some make-whole equity compensation totaling about $17.8 million. That money is meant to replace all of the incentive plans Ishrak had to ditch in order to leave GE, and Medtronic figures his non-make-good total compensation at $7.2 million, below the $9.6 million ex-CEO William Hawkins made in his final year.

Under Ishrak's reign, the company has only grown its global influence, bringing in fiscal 2012 revenue of $16.2 billion, a 4% increase over the previous year, and $3.6 billion in net profit, good for a 17% jump. Ishrak has long said the future of his company hinges on how well it capitalizes on emerging markets. The CEO wants Medtronic to get 20% of its revenue from the likes of China and India by 2016, and the company's recent investments have targeted up-and-coming countries.

Ishrak's base salary came in at about $1.2 million, with a $1.6 million performance-based bonus, $2.2 million in option awards, another $1 million or so in other compensation and a whopping $19.1 million in stock awards.

- read Medtronic's proxy statement (PDF)

For more:
Medtronic rides emerging markets growth to strong quarter
JPM: Medtronic's Ishrak promises more M&A, globalization
Medtronic posts 5% income boost despite CRM dip in Q1
Ex-Medtronic CEO pulled down $8M in 2012
Report: Medtronic's Ishrak takes home $25M in first year

Omar Ishrak - Medtronic
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