DOW JONES NEWSWIRES
St. Jude Medical Inc. (STJ) Chairman and Chief Executive Daniel
J. Starks received total compensation for 2011 valued at $6.6
million, down 30% from his compensation a year earlier, according
to a filing with the U.S. Securities and Exchange Commission.
Most of the decline came from the lower value of Starks' option
awards, which decreased 36% to $4.5 million.
St. Jude struggled with one-time charges last year along with
declining sales of implantable defibrillators, or ICDs, which
deliver a jolt of electricity to hearts when needed. The company
gets more than half of its sales from the heart-rhythm
business.
St. Jude has also dealt with problems with wiring in some of its
existing ICDs. The Riata cables in question are no longer on the
market but are implanted in thousands of patients in the U.S.
Shares closed at $41.90 Thursday and were inactive after hours.
The stock is off 13% over the past year.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909;
Andrew.FitzGerald@dowjones.com