The Associated Press has found the chief executive of drug giant Pfizer Inc. saw his 2009 compensation package dip by 8 percent.
That's because Pfizer's board cut stock awards for CEO Jeffrey Kindler and other top executives, citing the weak global economy. Even so, the New York-based company's revenue and profit were up slightly last year, and the company improved its prospects by buying drug and vaccine maker Wyeth.
Kindler's pay, perks and stocks options in 2009 were worth $13.7 million.
The AP's executive pay calculation, based on a regulatory filing, aims to isolate the value the company's board placed on the CEO's total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.