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AFSCME Urges Shareholders to Vote against Executive Compensation at Pfizer (PFE) and Johnson & Johnson (JNJ)
Date:4/12/2011

pay and performance.  JNJ's poor pay practices have resulted in excessive pay not tied to performance.

1. Pay for Performance disconnect – Despite underperforming its peers over 1- and 3-year Total Shareholder Return (TSR) time frames, JNJ continues making Chairman and CEO William Weldon one of the highest paid CEOs making far more than his peers.(1)3 Year TSR(2)1 Year TSR201020092008JNJ

0.83

5.14

Weldon Yearly Pay(3)

$28,720,491

$30,813,844

$29,127,432Industry

7.48

19.152. Excessive pay and flat share performance during William Weldon's tenure. Weldon has been paid $194M in reported compensation during his nine years as CEO while shares of JNJ have dropped 6% over the same time. As can be seen in the table, Weldon's pay has tripled during his tenure despite sideways share performance over the same period of time. YearTotal Weldon Pay(4)% changeJNJ stock price as of 12/31% changeApr-02$63.41 (5)2002

$9,418,409$53.71

-15.30%2003

$8,726,395

-7.35%

$51.66

-3.82%2004

$12,006,282

37.59%

$63.42

22.76%2005

$14,348,757

19.51%

$60.10

-5.23%2006

$28,557,749

99.03%

$66.02

9.85%2007

$31,916,566

11.76%

$66.70

1.03%2008

$29,392,224

-7.91%

$59.83

-10.30%2009

$30,813,844

4.84%

$64.41

7.66%2010

$28,720,491

-6.79%

$61.85

-3.97%3/31/11$59.38

-3.99%9-year total$193,900,7172002-2011-6.36%3. Peer benchmarking compensation above the median – JNJ benchmarks total compensation from 50 to 75th percentile of peer group.(6) This all but guarantees pay will be higher than its peers, but fails to guarantee performance will exceed peers.(7)

4. Increased guaranteed pay– For 2010, Chairman and CEO William Weldon had a base s
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SOURCE American Federation of State, County and Municipal Employees
Copyright©2010 PR Newswire.
All rights reserved

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