Novartis boss earned nearly 40 million dollars in 2008...

Novartis chief executive Daniel Vasella has come under renewed fire from Ethos, an institutional investor and pressure group, over his pay package and powerful position.

The group released its annual presentation on executive pay in Zurich on Thursday, which showed that salaries of top managers in the 47 largest Swiss firms had sunk by 22 per cent in 2008.

The survey said top executives took home on average SFr2.4 million ($2.35 million), chairmen SFr2 million and other board members SFr300,000. Vasella's total package of salary and other benefits totalled SFr40.3 million last year. More...

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