GE HealthCare President and CEO Peter Arduini [Photo courtesy of GE HealthCare]
For executives, the decrease in 2024 was mostly due to one-time stock awards they received in 2023 when GE HealthCare spun off from General Electric as an independent company and paid out Founders Grants to around 8,200 leaders.
GE HealthCare said those one-time stock awards were meant to “align the interests of GE HealthCare leaders … with those of our stockholders and provide a meaningful ownership stake in the company from our ‘Day 1’ … in recognition of the pivotal role leadership will play at a critical time following our spin-off.”
Recruiting and retaining top talent — both at the executive and engineering level — is crucial in the medtech industry, but employee compensation is kept secret in most cases. Medical Design & Outsourcing tracks and analyzes these pay figures when disclosed by major device developers and manufacturers.
Engineering pay analysis: Results from our 2025 Engineering Salary Survey are available now
GE HealthCare is the world’s seventh-largest medical device company, according to our 2024 Medtech Big 100 ranking by revenue. That ranking was based on GE HealthCare’s revenue of $19.6 billion in 2023. Revenue grew 1% to $19.7 billion in fiscal 2024 (ended Dec. 31, 2024).
GE HealthCare executive pay
GE HealthCare’s top-paid executive in 2024 was President and CEO Peter Arduini at $19.5 million, including a $1.3 million salary, $12.6 million in stock awards, $3.3 million in stock options and a $1.9 million bonus.
GE HealthCare Chief Science and Technology Officer Taha Kass-Hout [Photo courtesy of GE HealthCare]
Arduini’s total compensation decreased 20% from $24.5 million the year before.
GE HealthCare’s second-highest-paid executive in 2024 was Chief Science and Technology Officer Taha Kass-Hout at $5.7 million, including a $897,124 salary, $2.9 million in stock awards, $924,992 in stock options and a $920,700 bonus.
GE HealthCare VP and CFO James “Jay” Saccaro [Photo courtesy of GE HealthCare]
Kass-Hout’s total compensation decreased 59% from $13.9 million the year before.
GE HealthCare’s third-highest-paid executive in 2024 was VP and CFO James “Jay” Saccaro at $5.7 million, including a $872,204 salary, $3 million in stock awards, $949,997 in stock options and a $813,750 bonus.
Saccaro also received other compensation worth $83,499: $59,349 worth of Restoration Plan credits and $24,150 for retirement plan contributions.
Saccaro’s total compensation decreased 48% from $11 million the year before.
GE HealthCare General Counsel and Corporate Secretary Frank Jimenez [Photo courtesy of GE HealthCare]
Jimenez also received other compensation worth $123,932, including $75,186 worth of Restoration Plan credits, $24,150 for retirement plan contributions and $17,096 for financial and tax planning.
Jimenez’s total compensation decreased 28% from $7.5 million the year before.
GE HealthCare’s fifth-highest-paid executive in 2024 was Imaging President and CEO Roland Rott at $3.9 million, including a $631,424 salary, $1.9 million in stock awards, $624,984 in stock options and a $545,328 bonus.
GE HealthCare Imaging President and CEO Roland Rott [Photo courtesy of GE HealthCare]
Rott’s prior-year compensation was not disclosed.
“Our executive compensation program is designed to attract, retain, and motivate top executive talent who create long-term value for our stockholders through execution of our business strategy,” GE HealthCare said in the securities filing. “Our pay program is market-competitive, aligned with stockholder interests, and driven by strong governance practices for sound decision-making.”
Previously: GE HealthCare’s CEO earned more than GE’s CEO before spinoff
GE HealthCare’s median worker pay and CEO pay ratio
The U.S. Securities and Exchange Commission requires publicly traded companies to calculate the gap between CEO compensation and pay for its median employee.
GE HealthCare calculated its median employee wage at $73,078 for 2024, down 2% from $74,733 the year before.
The latest median employee pay figure put GE HealthCare’s CEO pay at 267 times more than its median employee’s pay. That pay gap narrowed from 328:1 the year before.
At other medtech companies that offer more details about their median workers than required by the SEC pay disclosure rules, those median medtech workers often hold technical roles such as device design or engineering.
GE HealthCare investors will cast advisory “say-on-pay” votes on the company’s executive compensation practices at the May 28 annual meeting. Shareholders overwhelmingly voted in support of the company’s executive pay the year before.
More medtech compensation analysis for CEOs, top-paid executives and median workers
- Zimmer Biomet discloses pay packages for top executives and its median employee
- Edwards Lifesciences reports $14.6M in pay for CEO’s first full year; median employee pay jumps
- BD reports pay increases for some execs, decreases for others
- Baxter CEO pay surged before his departure — along with the median employee’s wage
- Stryker increases pay for top execs, reports slightly lower wage for median employee
- Solventum paid CEO Bryan Hanson $40M in spinoff’s first year
- Intuitive Surgical discloses pay for execs and median workers while urging votes against shareholder proposals
- Boston Scientific CEO pay breaks $20 million for the first time since Ray Elliott
- Abbott’s device leader got a big pay bump as sales surged
- Cardinal Health CEO pay climbs to $25M; Median worker pay dropped
- Johnson & Johnson discloses executive pay and new security measures
- Medtronic CEO pay jumps 30%, employment and median worker pay drop
- No bonuses for Penumbra execs despite growing sales 25% to $1B
- Integer discloses executive pay, including separation payments for ex-EVPs
- Outset Medical investors target executive pay after recalls and warning letter
- BD limits executive severance after ‘golden parachute’ shareholder proposal overcomes board opposition
