Healthy Skepticism Library item: 8292

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

Publication type: news

Lilly CEO Made $15.2 Million Last Year
Associated Press 2007 Feb 6
http://www.abcmoney.co.uk/news/04200782226.htm

Full text:

Lilly CEO Taurel Received Raise, Made $15.2 Million in 2006

INDIANAPOLIS (AP) — Eli Lilly and Co. raised the salary of Chief Executive Officer Sidney Taurel 4 percent last year to $1.65 million, bringing his total compensation for the year to $15.2 million.
The Indianapolis drug maker cited the company’s 6 percent sales increase in 2005 and “strong headcount control” as chief reasons for the raise, according to a proxy statement the company filed Tuesday with the U.S. Securities and Exchange Commission.

Lilly reduced its headcount by nearly 2,000 employees through attrition. It employed 41,500 people worldwide at the end of 2006.
Taurel’s compensation total listed in the proxy includes a $2.8 million bonus and an award of $5.4 million in restricted company shares. It does not include $3 million Taurel made exercising stock options.

Lilly President and Chief Operating Officer John Lechleiter earned a $1.1 million salary and total compensation worth $11.3 million last year, according to the proxy.

He did not receive a raise in 2006 because his salary increased 18 percent the year before, when the company promoted him. But he did receive a $1.5 million bonus last year.

Lilly reported a 2006 profit of $2.66 billion, or $2.45 per share, on $15.69 billion in revenue.

Lilly shares fell 3 cents to close at $54.64 on the New York Stock Exchange.