Mr. Herendeen joined Valeant from Florham Park, N.J.-based Zoetis, a global animal health company. Under his deal with Valeant, Mr. Herendeen will also get $10 million in cash to compensate him for equity compensation he gave up when he left Zoetis, according to the report.
In 2015, Mr. Herendeen’s pay totaled $630,000 as executive vice president and CFO of Zoetis. He also received a $595,350 bonus last year.
More articles on executive compensation:
Mylan execs took large raises amidst EpiPen price spikes
Rate of Mass. hospital executive pay growth eclipses healthcare spending
How did compensation change for executives, providers from 2015 to 2016?
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.