Invitrogen president and CEO Greg Lucier saw his total compensation more than double in 2007 compared to 2006 as his stock awards and non-equity incentive plan compensation rose sharply last year, according to a proxy statement filed with the US Securities and Exchange Commission this week.
In 2007, Lucier’s total compensation came in at $11,068,812, up from $5,403,478. His base salary rose to $910,000 last year from $904,615 in 2006 while stock awards given to him jumped to more than $5 million from $1.3 million the year before. Non-equity incentive plan compensation rose more than seven-fold to more than $2 million in 2007 from $287,674 in 2006 as the company underwent a financial turnaround.
Last year, Invitrogen posted a profit of $143.2 million, compared to a loss of $191 million the year before. Revenues climbed to $1.3 billion, up 11 percent from $1.2 billion in 2006.
In March, Invitrogen increased Lucier’s base pay to $975,000, retroactive to Jan. 1.
In 2007, each of Invitrogen’s nine board members received between $207,805 and $249,690 in total compensation, according to the filing.
Bruker CEO Frank Laukien made $599,150 in total compensation in 2007, down 4.4 percent from a year ago, according to a document filed with the US Securities and Exchange Commission this week. In 2006 his compensation totaled $626,440.
His compensation in 2007 included a base salary of $306,500, compared to a base salary of $295,000 in 2006. For 2008, his base salary is $425,000 “reflecting the increased responsibilities he will have due to the acquisition of the Bruker BioSpin” business in February, the company said in its filing.
Michael Treble has been elected chairman of Axela’s board, the company said this week.
Treble has been a director and member of Axela’s audit committee since 2004. He is currently president of Ibis BioSciences, and was formerly COO and director of Third Wave Technologies, and president and CEO of NimbleGen Systems.
Axela is a privately held protein interaction firm based in Toronto.