CEO pay plummets 87%

Posted 26 April 2024 PM

In what's likely to be the biggest comedown in CEO salaries reported this year, Biogen's Chris Viehbacher saw his remuneration package drop through the floor - by 87 per cent - but it had nothing to do with his performance.

The drop was expected given he received bumper financial incentives as part of a sign-on package when he took up the Biogen top job in November 2022. That year he was paid AU$45 million (US$30.6 million) for two months' work. But part of the deal meant Viehbacher didn't receive any stock or option awards for 2023.

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