Vertex CEO’s $45.8 Million Pay Last Year Excessive, ISS Says
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Vertex Pharmaceuticals Inc. paid Chief Executive Officer Jeff Leiden too much for 2014, and shareholders should vote against his compensation, said corporate governance adviser Institutional Shareholder Services Inc.
“The total level of CEO pay is excessive and is not contingent upon rigorous performance conditions,” ISS said in a note to clients. Shareholders should cast a non-binding vote of disapproval at the company’s annual meeting on June 4, ISS said.