White topped the list produced by Medical Device And Diagnostic Industry (MD+DI), which named the15 highest paid US medtech ceos in 2013. According to MD+DI, he made $20.9 million (£12.4 million) in 2013, a 17% drop from his earnings the year before.
Jeffrey Immelt, chairman and ceo, General Electric, came in at number two – making $19.8 million (£11.75 million) and third position went to Lawrence H Culp, Jr, president and ceo of Danaher, who was listed as making $19.7 million (£11.69). Both Immelt and Culp experienced a drop in earnings from the previous year of 23.4% and 10% respectively.
Fourth place went to chairman and ceo of Johnson & Johnson, Alex Gorsky, whose $16.9 million (£10.03 million) represented a 54.1% increase on his previous year’s earnings.
Using research from its Top 40 Medical Device Companies list, including only US-based medtech companies, plus some additional data, MD+DI produced a list of the 15 highest paid company leaders in the US.
MD+DI says the results are interesting as in many cases ceos of firms such as Danaher, that have more than a billion in revenue from medtech but pull in much more from other industry segments ended up ranking higher on the list than ceos of pure device firms such as Medtronic. Ceos of diversified firms like General Electric and Johnson & Johnson also did better than other medtech CEOs.
MD+DI’s list of highest paid medtech ceos:
1. Miles D White, ceo, Abbot Labs $20.9 million
2. Jeffrey Immelt, chairman and ceo, General Electric $19.8 million
3. Lawrence H Culp, Jr, president and ceo, Danaher $19.7 million
4. Alex Gorsky, chairman and ceo, Johnson & Johnson $16.9 million
5. Inge G Thulin, chairman, president & ceo, 3M $16.4 million
6. Robert L Parkinson, chairman and ceo, Baxter International $16.2 million
7. David E I Pyott, chairman and ceo, Allergan $12 million
8. George Barrett, chairman and ceo, Cardinal Health $11.5 million
9. Michael Mahoney, president and ceo, Boston Scientific $10.9 million
10. Daniel J Starks, president, chairman, and ceo, St. Jude Medical $9.7 million
11. Kieran T Gallahue, chairman and ceo, CareFusion $9.6 million
12. Timothy M Ring, chairman and ceo, C R Bard $9.4 million
13. Vincent A Forlenza, chairman, president and ceo, Becton Dickinson & Company $9.2 million
14. Omar Ishrak, chairman and ceo, Medtronic $9 million
15. Kevin Lobo, president and ceo, Stryker $8.4 milion