Bristol-Myers Squibb Co. gave incoming Chief Executive Lamberto Andreotti a 42 percent raise in 2010 as he carried on company efforts to reposition itself as a specialty biopharmaceutical maker.
Andreotti received a total compensation package worth $10.9 million, up from $7.7 million in 2009, when he served as chief operating officer. The total amount includes salary, stock awards, bonus and other perks.
Andreotti's annual salary increased 8 percent to $1.3 million for 2010. The bulk of his compensation came in the form of stock awards, which grew 255 percent to $5.8 million.
The AP calculation is based on a regulatory filing. It aims to isolate the value company boards place on CEOs' total compensation package. It includes salary, bonus, incentives, perks and the estimated value of stock options and awards.