IBJNews

Lilly CEO got 10-percent pay boost last year

Back to TopCommentsE-mailPrintBookmark and Share

A larger stock award boosted cash and stock payments to Eli Lilly and Co. CEO John Lechleiter in 2013, but overall compensation fell for the top executives of the Indianapolis-based drugmaker.

Lechleiter was paid $11.2 million in salary, bonus, stock and perks, according to Lilly’s proxy statement filed Monday morning. That represented a 10-percent increase over his take of cash and stock in 2012.

Lechleiter's salary remained the same at $1.5 million and his incentive bonus dipped slightly, from $3 million in 2012 to $2.9 million last year. But Lilly gave Lechleiter a 2013 stock award valued at $6.75 million, compared with a 2012 stock award valued at $5.63 million.

A rise in the value of Lechleiter’s pension boosted his 2012 total compensation more than $4.4 million, but his pension value remained flat in 2013 because Lilly raised the discount rate it used to calculate the present value of its pension liabilities. As a result, when pension values are included, Lechleiter’s total compensation actually fell 23 percent from the previous year.

Smaller increases in pension values also depressed the overall compensation of three other top executives at Lilly, ranging from as little as 1.5 percent for Jan Lundberg, president of Lilly Research Laboratories, to as much as 25 percent for Derica Rice, Lilly’s chief financial officer.

When those actuarial fluctuations are excluded, compensation for those other executives remained flat from 2012 to 2013.

Rice received cash, stock and perks valued at $5.18 million last year, compared with a value of $5.16 million the previous year.

Lundberg pulled in $4.55 million last year, compared with $4.54 million the previous year.

Enrique Conterno, president of Lilly’s diabetes business unit, took home $2.92 million last year in cash, stock and perks—the same amount as the year before. Including changes in his pension value for both years, Conterno’s total compensation fell 23 percent.

Lilly’s stock price had a modest performance in 2013. Lilly shares rose 3.4 percent during 2013, closing the year at $51 per share. So far in 2014, Lilly shares have risen 13.3 percent, closing Friday at $57.78 apiece.

ADVERTISEMENT

  • Income Gap Widens
    And the income gap widens even more!
  • what?
    are you kidding? Why would eli pay someone this much money? Is he doing more work? Is he worth it? NO. Companies like this needs to rethink. Think about how much money they can save by paying someone less, and yes their are people out there that can do the same as anyone and will take less pay. Companies like this should take a fall and realize how much money they waste. No wonder cost is so high, they need it to pay this loser. If he was a decent man he would refuse the pay raise and offer it to charity or reduce business cost for eli.
  • 2013 Pay
    How much is enough?

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

ADVERTISEMENT