By Bruce Japsen | Hospira
Inc. chief executive Christopher Begley was awarded stock, bonus and
salary of more than $5.6 million last year, the Lake Forest-based
hospital products maker said in its annual proxy statement filed this
afternoon.
Begley’s salary rose 2 percent to $1.05 million from $1.03 million in
2008. Meanwhile, his bonus more than doubled to $2.1 million last year
compared to $976,740 in 2008.
Following a year where the maker of generic injectable drugs and medication delivery devices improved sales and continued its cost-efficiency program, he was also awarded a boost in stock awards to nearly $2.5 million. That compares to $1.6 million in 2008.
The total value of Begley’s compensation package, including stock options and the value of his pension, jumped 21 percent to $7.56 million compared to $6.24 million in 2008.
I’m sure he’ll do even better once health reform assures him more customers and less cost control.
Ya know how he did this: sent jobs held by US workers overseas. Despite the company performing very well & this being in the middle of a recession, he chose to fire Americans and make more bank for himself.
That’s nice to be rewarded after laying people off.
Project Fuel – the name for his corporate layoff program also includes fueling his bonus
Pathetic. Why don’t you lay off a few more people, Chris? This bonus is sure to raise morale around the workplace…
Gotta love it…..Last year they held our raises and Chris still bot a huge bonus….
>>>Helen & tiopepe
Yep! P.F. and “Project LEAN” is doing a number on our site. More work + less workers = more chance for errors.
I had no problem with not getting a raise last year, we DID get a bonus, and yes, we did get a hefty bonus this year. But when the pay freeze was announced he should of made, at the very least, the ‘gesture’ of taking $1 salary for the year. Remember when Lee Iaccoca took over Chrysler in the ’80’s when it was on the verge of bankruptcy? Even though he was worth millions, he publicly said he would only accept just one dollar for his annual salary the first year. He was still very well off, but it was this gesture that said he was serious about saving money.
Chris, are you listening??? HELLO…!