Teva decided to extend the contract of CEO Car Schultz until 2023

Teva decided to extend the contract of CEO Car Schultz a year later, and it will now end in 2023. The cost of Teva's CEO's salary, Cor Schultz, totaled $ 11.6 million in 2019, according to a summons to a general meeting of shareholders published by the company on Thursday. It was $ 76,000 in 2019, which is why Schultz's salary is 152 times greater than half of that.
Schultz's salary cost included base salary of $ 2 million, $ 6 million equity grants that included performance contingent shares and blocked shares that mature over a three-year period. Schultz also received $ 2.8 million in cash as part of his long-term incentive plan, after meeting 102% of the target set in the compensation plan. Schulz also received other payments of $ 727,000, which included $ 200,000 in residence. Schultz was not eligible for a bonus in 2019. The summons to the meeting reveals, as stated, that Teva signed an agreement with Schultz to extend his term of the year, so that his term ends in November 2023, instead of November 2022.
Teva explains that in the first two years of Schulz's five-year contract, the company successfully completed its $ 3 billion-a-year spending plan; Reduced net financial debt by 21% to $ 24.9 billion at the end of 2019; Successfully launched the oestado drug to treat movement disorders as a result of Huntington's disease and the prolonged use of antipsychotics; Less successfully launched Ajobi for migraine treatment in the US and Europe.