Wednesday, November 4, 2009

Schering-Plough Closed at $28.15 Last Night, On The NYSE (For The Very Last Time)

At that NYSE closing stock price, here is what each of the following officers will likely net, in golden parachutes, "change of control" and retirement pay -- assuming none of them land seats at the "New Merck", or if any of them do, they depart the combined company within 18 months, from today (the links show how I made my calculations, for easy reference):

CEO Fred Hassan | $175 million

CFO Bob Bertolini | $117 million

EVP Carrie Cox | $52 million

GC Tom Sabatino | $55 million

Top Four Total | $400 million

Those are very large pieces of silver.


Anonymous said...

In the end, though, it may be a cheap price to pay to keep these "executives" out of the new Merck organization. I just feel sorry for all the poor employees caught up in their destructive wake and also the victims of their next corporate foray.

Thank you for your insite and wit. You certainly provided much food for thought.

Condor said...

It has been my honor, and pleasure.


I am hopeful that other than kibitzing on the Time-Warner board, as one suppine voice in a cast of what will ultimately be 17 or so others, Fred Hassan is done as a public company pharma CEO.

Likewise Carrie Smith Cox. "Three strikes, and you're out!" -- AHP, Pharmacia and now SGP.


Condor said...

BTW, I am not going to bother to run yet another individualized spreadsheet, but if we were to add Tom Koestler, Ph.D., into the main post's calculations, the grand total for the "top five" would be north of $450 Million -- in parachutes and retirement benefits.

Great work, if you can get it, I guess.