Novo Chief’s Remuneration Climbed 7.5% Last Year: Annual Report

Novo Nordisk A/S (NOVOB) Chief Executive Officer Lars Sorensen’s remuneration climbed 7.5% last year, the 2012 annual report of the world’s biggest insulin maker shows.

Total remuneration was 14.4 million Danish kroner ($2.6 million), up from 13.4 million kroner in 2011, according to the Bagsvaerd, Denmark-based company’s annual report published today, and available on its website.

Sorensen’s fixed base salary last year was 8.4 million kroner, up from 7.3 million kroner in 2011, the document shows. Total compensation also included a cash bonus of 2.9 million Danish kroner, pension and other benefits.

The 15,764 Novo shares that Sorensen was awarded in 2009 and were released this year, and carry a market value of 14.5 million Danish kroner, according to the report.

To contact the reporter on this story: Albertina Torsoli in Paris at atorsoli@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net