Pobres, es algo que se les va de las manos...CEO´s ven como se reducen sus ingresos.

It’s no secret that CEO compensation is largely uncorrelated to the performance of the company or its stock, and recent disclosures from Pfizer (PFE),Allergan (AGN), Bristol-Myers Squibb (BMY) andGenzyme (GENZ) illustrate that in spades.

All four CEOs got reduced pay in 2009, according to their SEC filings. If these companies are bellwethers for the drug sector as a whole, we may see an overall decline in top brass compensation for last year. But it’s not clear why that should be: Three of the companies saw their revenues increase, and yet their leaders’ rewards were reduced. Three saw their stock rise or maintain its value, and yet they took home fewer riches.(Ver)

You can see that there is no obvious relationship between any of the factors:

Name, ‘09 compensation, % change, % change in stock, % change in revenues



Pfizer’s Jeff Kindler $14.9 million, -4%, 0%, 4%
Bueno, hay que entender el momento...




Allergan’s David Pyott $11.9 million, -2%, 52%, 2%
Un poco de resignación...





BMS’s Jim Cornelius $18.2 million, -8%, 7%, 6%
No me puedo quejar, tampoco me fué tan mal...




Genzyme’s Henri Termeer $9.5 million, -25%, -26%, -3%
Y por qué yo salí el peor de todos...?