Novartis CEO's pay soars to CHF 24.9 million on record bonuses and stock growth
Novartis CEO Vas Narasimhan saw his total pay jump to CHF 24.9 million in 2025, up from $24.7 million the previous year. The sharp rise reflects a surge in long-term bonuses tied to the company's strong performance and stock growth.
Narasimhan's compensation has climbed steadily since 2022, when it stood at $17.5 million. By 2023, it reached $24.7 million, before soaring to $36.1 million in 2024. The increase was largely driven by long-term incentive (LTI) payouts, which surged due to Novartis exceeding its total shareholder return (TSR) targets by 150-200%.
The company's 2024 proxy statement, filed in March 2025, highlighted key achievements behind the bonuses. These included the approval of new drugs like Fabhalta and other pipeline successes. Strong stock performance further boosted Narasimhan's earnings.
Meanwhile, Giovanni Caforio, Novartis' Chairman of the Board, earned CHF 2.9 million in his first year. The entire Executive Committee received a combined CHF 113.6 million in 2025. Narasimhan's pay now far exceeds that of Roche CEO Thomas Schinecker, whose 2025 remuneration totalled CHF 10.2 million.
Narasimhan's compensation now stands significantly higher than in previous years. The rise reflects Novartis' financial and operational successes, particularly in drug development and shareholder returns. His earnings also surpass those of his counterpart at Roche by a wide margin.
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