Cardinal Health CEO collects $45 million but turns down bonus
George Barrett, CEO of drug distributor Cardinal Health, declined a $500,000 bonus after his company's rough year, in which profit fell "largely as a result of the challenging generic pharmaceutical pricing environment," according to a Securities and Exchange Commission filing put out on Thursday. Lower generic drug prices are positive for consumers, but not for the companies that deliver them and get a cut of the price.
Yes, but: Barrett still made almost $45 million, after calculating vested stock.
Go deeper: The sky-high pay of health care CEOs warps incentives to reduce spending.