Henri A. Termeer, 65, who ran the Cambridge company for three decades and built it into a global leader in treating rare genetic disorders, will collect $12.5 million in severance payments when he departs as chief executive, according to a regulatory filing yesterday.
In addition, the document said he will cash out $145.9 million in share holdings, stock options, and restricted stock units when he tenders his portfolio to Sanofi, a global drug giant based in Paris.
And he could receive up to $62.8 million through so-called contingent value rights he acquired as part of the deal; the precise amount will depend on how well two Genzyme drugs in development do in meeting revenue targets.
Termeer, who directly held about 4.4 million Genzyme shares as of yesterday, is scheduled to step down when Sanofi’s acquisition of Genzyme is completed, possibly as early as next month.
Tuesday, March 08, 2011
Genzyme's Termeer could gain $221.2m after sale - The Boston Globe
via boston.com
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