Teva's Board Seeks Base Pay Raise of as Much as 10% for Vigodmanby
Teva Pharmaceutical Industries Ltd.’s board asked shareholders to let it raise Chief Executive Officer Erez Vigodman’s annual base pay by as much as 10 percent for the foreseeable future.
The world’s biggest generics drugmaker recommended increasing Vigodman’s annual base salary to about $1.5 million this year and paying him $4.5 million in stock awards, according to a Tel Aviv stock exchange filing late Monday. Teva also proposed changes to the payment terms of his annual cash bonus. Vigodman’s total compensation for 2015 was $5.7 million.
“The board recognized the transformation of the company achieved under his leadership during 2015,” Teva said in the statement.