Updated Jul. 17, 2013 at 5:52 a.m.

Premium Lock Novartis slashes ex-chairman's golden parachute to $6M from $78M

Published: 2013-07-17 05:45:00
Updated: 2013-07-17 05:52:32

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Novartis CEO Joe Jimenez, left, and Chairman Daniel Vasella The CEO of Swiss pharmaceutical group Novartis, Joe Jimenez, left, listens to Daniel Vasella, chairman of the board, right. Image 1 of 2 · Next Image…

Novartis AG has cut former Chairman Daniel Vasella's payout to less than a tenth of the original $78 million, a sum that had helped galvanize support for a Swiss referendum on limiting executive pay....

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