You may recall a while back that I was a tad critical of Aetna for paying Jack Rowe $18 million for his efforts in 2003. They claimed of course that they had to keep his compensation competitive to keep him there. And of course events have proved them right. Why at any moment he’s likely to jump ship to Anthem, who yesterday announced that their CEO Larry Glasscock, in addition to his paltry $3m base salary for 2003, is going to get a $21m cash bonus and another $21m in stock vesting in the next 2 years. If I was Rowe, I’d be dragging the Aetna board back from the ski slopes (or wherever they are) and asking where they put the extra $28m he surely needs to keep him from taking over from Glasscock.
Assuming of course that Glasscock wants to sail off into the sunset rather than hang out in the new and improved Anthem with Len Schaeffer second guessing his every move.