Hospira CEO's golden parachute for Pfizer deal: $80 million
- Hospira CEO F. Michael Ball will be getting a hefty payout in the wake of his company's $15 billion deal with Pfizer, FiercePharma reports.
- Ball's golden parachute, including stock options and tax expenditures on his take-home pay which will be covered by Pfizer, amounts to about $80 million once the deal is done.
- Ball's salary last year? A more "modest" $9.9 million.
There are few things that many pharma CEOs covet more in their profession than a hefty golden parachute, and Ball is certainly getting his.
About $60 million of the payout will come from stock options and restricted shares, and another $13 million from shares that Ball already owns.