[e-drug] Abbott CEO's remuneration

["Kannikar KIJTIWATCHAKUL" <kakablue@yahoo.com>]

E-DRUG: Abbott CEO's remuneration
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Abbott's White receives $22.5M in 2006

ABC, Tue, 20 Mar 2007 00:09

CHICAGO (AP) - The chief executive of Abbott Laboratories Inc., Miles 
White, received compensation valued at $22.5 million from the 
pharmaceutical and medical products maker last year, according to an 
analysis of a regulatory filing by the company Monday.

White was paid a base salary of $1.66 million, a 3.5 percent raise from 
the previous year. The bulk of his compensation came from being granted 
a combined $14.2 million in options and restricted stock, which the 
company said was performance-based. That total included a stock option 
grant of 438,000 shares, valued at $5.1 million at the time they were 
granted in February 2006, and 139,000 shares in performance-based 
restricted stock, valued at $6.1 million.

Abbott said it also awarded White $4 million under an incentive plan to 
recognize his leadership in guiding the company to a strong performance 
compared with its peers.

White also received perks worth $855,233 for items including 
contributions and payments related to his employer-sponsored retirement 
plan and use of the company aircraft. 

The company said the 51-year-old White had exceeded his strategic and 
financial goals for 2006, citing Abbott's strong growth in sales, 
earnings and shareholder returns that placed it in the top quartile of 
similar health-care companies.

The Associated Press calculations of total pay include executives' 
salary, bonus, incentives, perks, above-market returns on deferred 
compensation and the estimated value of stock options and awards granted 
during the year. The calculations don't include changes in the present 
value of pension benefits and sometimes differ from the totals released 
by the companies. Abbott put White's total compensation at $26.9 million.

North Chicago, Ill.-based Abbott reported 2006 net earnings of $1.7 
billion, down 49 percent from the previous year because of charges 
related to its multibillion-dollar acquisitions of Kos Pharmaceuticals 
Inc. and Guidant Corp.'s heart stent and vascular business. Revenue rose 
0.6 percent to $22.5 billion.

Analysts have been bullish on the rapid growth of its pharmaceutical 
business, led by anti-inflammatory drug Humira.

The company's proxy statement said shareholders will vote at its April 
27 annual meeting on whether to approve an advisory vote on executive 
compensation and whether to recommend separating the roles of chairman 
and CEO.

Abbott shares closed 30 cents higher at $53.18 on the New York Stock 
Exchange. They are up 9 percent this year after rising 24 percent in 2006.

from

Kannikar KIJTIWATCHAKUL (Kar)
Mobile 66-85-0708954
kakablue@yahoo.com