* Novartis CEO pay flat at 13.2 mln Sfr
* New chairman earns 1.9 mln Sfr for five months
* Outgoing chairman paid 3 mln Sfr for seven weeks
* Pay reports for UBS, Credit Suisse, Roche eyed
BASEL, Jan 29 Novartis kept pay for
its Chief Executive Joe Jimenez steady, after cutting it last
year before a Swiss vote to force companies to accept
shareholder limits on executive rewards.
The Basel-based drugmaker, typically the first Swiss
blue-chip company pay to disclose pay, said on Wednesday Jimenez
was paid 13.2 million Swiss francs ($14.69 million) in total for
2013, more than 3 million francs of it in cash.
It earlier posted lower-than-expected fourth-quarter profit
and said it was looking at options, such as joint ventures, for
its three smaller businesses.
This year's pay report is the first since Novartis had to
scrap a planned 72 million franc payout to outgoing chairman
Daniel Vasella three days before facing furious shareholders.
Pay for incoming chairman Joerg Reinhardt is far more modest
than that of Vasella, who had been a lightning rod for criticism
since a $20 million pay package in 2006.
Reinhardt, who launched the review of Novartis' smaller
business units shortly after he arrived, was paid 1.9 million
francs for five months at the drugmaker, according to the
Vasella took home nearly 3 million francs for the seven
weeks he was employed by Novartis until he stepped down last
February, including a large contribution to his pension.
Drugmakers and big banks have been the best-paying firms in
Switzerland in recent years.
Roche Chief Executive Severin Schwan was paid 12.5
million francs in 2012, including cash, bonus, pension and other
benefits, while outgoing chairman Franz Humer was paid 8.66
Novartis' pay report comes several months before major Swiss
banks Credit Suisse and UBS have to disclose
what they paid top executives.
UBS drew fire when it disclosed a near $9 million payout for
chief executive Sergio Ermotti for 2012, and a $26 million
welcome package for its new investment bank chief.
Credit Suisse has acknowledged the public anger, saying it
made a mistake when it paid Chief Executive Brady Dougan 19.2
million francs in cash and stock in 2009, plus 70 million francs
worth of stock under a bonus plan for 2004.
Last year, Dougan was paid 7.8 million francs while Credit
Suisse's top earner, private bank co-head Robert Shafir, took
home 10.6 million francs. Shafir is also head of the Americas
for Credit Suisse.
Despite cutting pay for Vasella and Jimenez last year before
the pay vote in Switzerland, Novartis sparked public outrage and
alienated allies in the business community.
Voters overwhelmingly passed the proposal, which allows
shareholders to veto executive pay proposals as well as bang big
rewards for new and departing managers.
($1 = 0.8987 Swiss francs)
(Reporting By Caroline Copley. Writing by Katharina Bart,
editing by Elizabeth Piper)