Alex Philippidis Senior News Editor Genetic Engineering & Biotechnology News
Running a large instrumentation company is not a bad-paying job as these 20 men can attest.
Following is a list of 20 current or former CEOs of life sciences tools and technologies providers who led their companies for at least part of 2012, ranked by their “total compensation” last year. Total compensation goes beyond salary to include bonuses, stock awards, stock option awards, nonequity incentive plan compensation, and all other sources of compensation. For each CEO ranked, the list offers 2012 and 2011 compensation, the percentage change between the amounts.
This year, unlike last year, rankings are of individuals rather than companies to align with GEN’s similarly reranked list of biopharma CEOs published earlier this year. Also unlike GEN’s first such list in 2012 (See “Top 15 CEO Salaries: Biotech Tool Providers“, published September 11, 2012, in GEN), less than half (eight of 20 CEOs) saw their total compensation increase over the previous year, compared with 10 of the top 15 CEOs ranked by GEN in 2011.
One possible reason: Most tools companies focused more of their spending on R&D (See “Top 22 R&D Spenders among Tool and Technologies Companies,” published in GEN April 2, 2013). Another possibility: Tools and tech companies opted to use cash on hand for acquisitions as the segment consolidates among fewer players, reflected best by Thermo Fisher Scientific’s plans announced in April to acquire Life Technologies.
Four of this year’s Top 20 CEOs either assumed their positions or added to their responsibilities in 2011 or 2012. As with the biopharma CEO pay list, all of the top-paid tools-tech CEOs were male.
#20. Frank Witney, Ph.D.
President and CEO of Affymetrix
2012 Compensation: $657,291
2011 Compensation: $2,739,8351,2
% Change: -76.0%
#19. Douglas A. Berthiaume
Chairman, President, and CEO of Waters
2012 Compensation: $1,062,972
2011 Compensation: $2,646,730
% Change: -59.8%
#18. Gajus V. Worthington
President and CEO of Fluidigm
2012 Compensation: $1,352,917
2011 Compensation: $1,108,469
% Change: 22.1%
#17. Peer M. Schatz
Managing Director, CEO of Qiagen
2012 Compensation: $1,399,000
2011 Compensation: $1,845,000
% Change: -24.2%
#16. Frank Laukien
Chairman, President, and CEO of Bruker
2012 Compensation: $1,860,6023
2011 Compensation: $892,100
% Change: 108.6%
#15. Max Carnecchia
President and CEO of Accelrys
2012 Compensation: $1,881,828
2011 Compensation: $1,486,023
% Change: 26.6%
#14. Michael W. Hunkapiller, Ph.D.
President, CEO, and Chairman of the Board of Directors of Pacific Biosciences
2012 Compensation: $2,177,0024
2011 Compensation: N/A
% Change: N/A
#13. Harry F. Hixson, Jr.
CEO of Sequenom
2012 Compensation: $2,368,033
2011 Compensation: $3,154,159
% Change: -24.9%
#12. Patrick J. Balthrop, Sr.
President and CEO of Luminex
2012 Compensation: $3,214,478
2011 Compensation: $3,782,017
% Change: -15.0%
#11. John L. Bishop
CEO and Director of Cepheid
2012 Compensation: $3,776,595
2011 Compensation: $4,576,225
% Change: -17.5%
Following is a list of 20 current or former CEOs of life sciences tools and technologies providers who led their companies for at least part of 2012, ranked by their “total compensation” last year. Total compensation goes beyond salary to include bonuses, stock awards, stock option awards, nonequity incentive plan compensation, and all other sources of compensation. For each CEO ranked, the list offers 2012 and 2011 compensation, the percentage change between the amounts.
This year, unlike last year, rankings are of individuals rather than companies to align with GEN’s similarly reranked list of biopharma CEOs published earlier this year. Also unlike GEN’s first such list in 2012 (See “Top 15 CEO Salaries: Biotech Tool Providers“, published September 11, 2012, in GEN), less than half (eight of 20 CEOs) saw their total compensation increase over the previous year, compared with 10 of the top 15 CEOs ranked by GEN in 2011.
One possible reason: Most tools companies focused more of their spending on R&D (See “Top 22 R&D Spenders among Tool and Technologies Companies,” published in GEN April 2, 2013). Another possibility: Tools and tech companies opted to use cash on hand for acquisitions as the segment consolidates among fewer players, reflected best by Thermo Fisher Scientific’s plans announced in April to acquire Life Technologies.
Four of this year’s Top 20 CEOs either assumed their positions or added to their responsibilities in 2011 or 2012. As with the biopharma CEO pay list, all of the top-paid tools-tech CEOs were male.
#10. Olivier A. Filliol
President and CEO of Mettler Toledo
2012 Compensation: $4,384,508
2011 Compensation: $5,251,183
% Change: -16.5%
#9. Norman Schwartz
President, CEO, and Chairman5 of Bio-Rad Laboratories
2012 Compensation: $4,520,753
2011 Compensation: $3,844,998
% Change: 17.6%
#8. Rakesh Sachdev
President and CEO of Sigma-Aldrich
2012 Compensation: $4,585,422
2011 Compensation: $3,915,529
% Change: 17.1%
#7. Jay T. Flatley
President, CEO, and Director of Illumina
2012 Compensation: $8,171,0806
2011 Compensation: $9,944,147
% Change: -17.8%
#6. Vincent A. Forlenza
Chairman, CEO, and President of Becton Dickinson
Year Ending September 30, 2012 Compensation: $9,418,2767
Year Ending September 30, 2011 Compensation: $5,018,8547,8
% Change: 87.7%
#5. William P. Sullivan
President and CEO of Agilent Technologies
2012 Compensation: $10,135,717
2011 Compensation: $10,252,264
% Change: -1.1%
#4. Gregory T. Lucier
Chairman and CEO of Life Technologies9
2012 Compensation: $10,268,445
2011 Compensation: $10,897,630
% Change: -5.8%
#3. Robert F. Friel
Chairman and CEO of PerkinElmer
2012 Compensation: $10,832,610
2011 Compensation: $12,819,181
% Change: -15.5%
#2. Marc N. Casper
President and CEO of Thermo Fisher Scientific
2012 Compensation: $13,555,10110
2011 Compensation: $5,516,567
% Change: 145.7%
#1. H. Lawrence Culp, Jr.
President and CEO of Danaher
2012 Compensation: $21,898,728
2011 Compensation: $21,652,417
% Change: 1.1%
Notes:
1 Dr. Witney’s 2011 compensation included a stock award of $1,409,100, and an option award of $1,081,110, compared with a stock award of $115,750 and no option awards in 2012.
2 Named president and CEO of Affymetrix in July 2011.
3 Nearly two-thirds (64.8%) of Laukien’s total compensation in 2012 consisted of $1,206,000 in stock awards.
4 Named president and CEO in January 2012, after being named chairman in October 2011. See: http://eon.businesswire.com/news/eon/20120106005618/en/PacBio/genomics/DNA-sequencing
5 Named to the additional position of chairman in April 2012, upon the passing of his father David Schwartz, who with his wife Alice co-founded Bio-Rad. The younger Schwartz has served as president and CEO since succeeding his father January 1, 2003.
6 More than three-quarters (77%) of 2012 compensation consisted of a $6,288,207 stock award.
7 Becton Dickinson operates on a fiscal year that begins October 1 of the previous year.
8 Appointed CEO in October 2011, succeeding Edward J. Ludwig, who continued to serve as chairman until his departure from the company’s Board of Directors in June 2012, at which time Forlenza was named to the additional position.
9 In April, Thermo Fisher Scientific announced it would acquire Life Technologies for about $13.6 billion, plus assumption of Life Tech’s $2.2 billion in debt. The deal is expected to close early in 2014.
10 More than three-quarters (77%) of 2012 compensation consisted of a $10,442,400 stock award.
