Is bad-news Genzyme paying CEO too much?
When a company hits the skids, fingers start to point. And lately, fingers have been pointing pretty forcefully at Henri Termeer ( photo ), CEO of the ill-fated company Genzyme. Naturally, inquiring minds want to know how Termeer has fared financially as his company has been suffering. The answer? Not too shabbily. Termeer got about $50.8 million in compensation over the past three years, BNet reports. That’s about $14 million a year at a company that posts some $4 billion in annual sales. Companies many times that large often don’t pay their CEOs that much. And that’s even when shareholders are happy. Of course, Genzyme shareholders aren’t happy. The company had to shut down production of its high-tech meds in June after FDA inspectors found viral contamination at a Boston-area plant. The company spent the summer and early fall getting that plant back up to speed. And it seemed to have succeeded. But then the FDA sent out a warning




