Valeant chief paid $62.7 mil­lion last year.

The Denver Post - - BUSINESS -

Valeant Phar­ma­ceu­ti­cals In­ter­na­tional Inc. CEO Joseph Papa took in $62.7 mil­lion in pay last year as he nav­i­gated the fall­out from ac­count­ing prob­lems, a near debt de­fault and in­ves­ti­ga­tions by Congress.

The drug-in­dus­try vet was tapped to take over the em­bat­tled Cana­dian com­pany in May and sought to re­build in­vestor con­fi­dence and re­make the busi­ness af­ter a se­ries of mis­steps.

The bulk of Papa’s pay— $42 mil­lion—came from stock awards, while $9.1 mil­lion came from bonuses.

Papa’s pay was more than five times higher than what he had earned in 2015 at the helm of Per­rigo Co., but less than half of the $141.6 mil­lion Valeant’s former CEO Michael Pear­son was paid at in 2015.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.