ABB CEO Awarded $10.8 Million in 2012, Outdoing Siemens Peer

ABB Ltd. awarded Chief Executive Officer Joe Hogan a total pay package of 10.2 million Swiss francs ($10.8 million) in 2012, about 8 percent more than the previous year and eclipsing the compensation of Siemens AG chief Peter Loescher.

Hogan’s remuneration is made up of about 2 million francs in base salary, 3.3 million francs in variable compensation to be paid in 2013, 4.1 million francs in share-based awards from a long-term incentive plan which will pay out in 2015 if specific performance targets are reached, pension contributions, and benefits including social security and children’s education, Zurich-based ABB said in its annual report.