With executive pay under the microscope like never before, more and more companies are revising compensation plans to ensure they’ll pass muster with shareholders, regulators, lawmakers, and the general public. One early mover in 2010: Genzyme Corp.
In a Form 8-K filing Genzyme submitted on Jan. 22, the $4.5 billion biotech company unveiled a sweeping revamp of its annual compensation and long-term incentive pay for senior executives, effective this year. The new scheme has won plaudits from the compensation-consulting world as a substantive effort to tackle one of the hardest challenges in corporate governance today.
Genzyme, which develops various drugs ...