2012 pay: $10.1 million
2011 pay: $13.2 million
2012 was something of a middling year for Siemens' ($SI) healthcare business, as the global giant works through Agenda 2013, a sweeping, two-year effort led by CEO Peter Löscher and company to trim the fat and expand its presence in the medical device world.
The healthcare unit closed $17.7 billion in revenue last year, just a 1.7% increase over 2011, but Siemens' long-term growth plan calls for job cuts, a realignment of its radiation therapy unit and a focus on developing diagnostics. That means scaling up R&D spending, as it did by about 6% in 2012, and expanding its offerings through global regulatory approvals and M&A.
At the same time, Siemens Healthcare has struggled with regulators the world over, facing a lawsuit claiming that it fired a whistleblower who cried foul over its Asian sales practices, accusations that it paid illegal kickbacks in Russia and warning letters from the FDA for its device manufacturing.
In 2012, Löscher pulled down a $2.6 million base salary, a combined $3.6 million in cash and equity bonuses and about $4 million in stock awards.
- read Seimens' compensation report (PDF)
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