Moderna CEOs 400 Million Payday Sparks Backlash Over Executive Compensation

In recent news, Moderna is facing criticism over its executive compensation practices, specifically with regards to the nearly $400 million windfall that its CEO, Stéphane Bancel, received in 2022. Despite the company’s success with its coronavirus vaccine, it is now being scrutinized for its use of taxpayer funding and executive pay and governance practices. Bancel, who owns stock worth at least $2.8 billion, was awarded a pay raise of 50 percent and an increased target cash bonus last year, which has led to backlash among investors and analysts. However, the CEO has pledged to donate the proceeds of his stock sales to charity. One influential firm has advised shareholders to vote against the compensation plan at the upcoming annual meeting on May 3. Moderna defends the raises as reflective of merit and appropriate for the increased scope of responsibility for its executives. This controversy highlights the need for greater transparency and accountability in the biotech industry’s executive compensation practices.