Seven million dollars is way too much money to be passing out to anyone for a years pay, bonus or what ever words one uses to describe this raid on the company coffers. If the board really believes that if they did not give him 7 million he would be not be motivated or he would leave the company to accept a "better package" from a competitor, then the board should be replaced. As a stockholder I'm angry! Greed does not breed success. Greed breeds corruption.
I'm surprised at the support you folks have for paying this CEO a whopping 7 million dollars. Sure he is a good leader and certainly he sets on the board. He does not set on the executive compensation committee though, so the board is responsible for this raid on BDX's coffers. No one "earns" 7 million dollars in one year for doing any job. If the past CEO did not measure up they should have been replaced as soon as it was recognized and share holders like me move on to other companies with better prospects. I prefer Warren Buffett's concept of CEO compensation.
I would expect those of you that support the BDX's CEO getting 7 mill also support the Goldman Sachs management folks getting 17 billion this year and their budget of 20 billion next year. Does anyone pay attention to what is happening in our society? Our farmers produce 13 billion bushels of corn of which 30% goes to ethanol and the price rises $2 per bushel and the whole ag commodity market is affected. Chicken little economists scream the sky is falling, yet the GS folks pass out 17 billion and there is no notice given, except that they "earned" it.
Another great year for BD, good organic growth, and acquisitions starting to pay off. Ed has been the leader making all this happen, he put together a great management team and is one of the few good CEO's that is worth the pay. Here's to a great 2008.