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Amounts to about a 60 percent increase including cash incentives, salary boost and stock.
July 20, 2009
By: Editor
The CEO of Medtronic Inc., Bill Hawkins, made $8.9 million in total compensation in 2009, according to a company filing with the Securities and Exchange Commission on Friday.
That amount is about a 60 percent increase compared to his compensation in 2008: $4.6 million. Most of the increase came in cash incentives, which went from $971,749 in 2008 to $2.2 million in 2009. Hawkins’ salary also increased, from less than $1 million in 2008 to $1.2 million in 2009. His stock awards increased from $1.5 million in 2008 to $2.3 million in 2009.
The pay hike comes as Minneapolis, Minn.-based Medtronic slashes jobs to streamline operations and shrink underperforming business units.
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