Greg Summe, the former president and CEO of PerkinElmer, saw his total compensation increase 52 percent in 2007, according to the company’s proxy statement filed with the US Securities and Exchange Commission last week.
In 2007, Summe made $11 million, up from $7.2 million in 2006. Included in his 2007 compensation was a base salary of $1 million, stock awards of nearly $1.6 million and stock option awards of almost $1.7 million.
Until Aug. 1, Summe had been president of PerkinElmer. He served as CEO of the company through 2007.
His successor to both posts, Robert Friel, saw his total compensation increase 57 percent to $5.1 million in 2007 from $3.2 million in 2006. He became president and COO of the company in August at which time his base salary increased to $700,000. He was appointed president and CEO on Feb. 1.
For the entirety of 2007, Friel’s base salary was $631,923. His compensation package also included $955,541 in stock awards and $791,737 in stock options.