![Zimmer Biomet [Photo courtesy of Zimmer Biomet]](https://www.medicaldesignandoutsourcing.com/wp-content/uploads/2025/04/Ivan-Tornos-Zimmer-Biomet-2025-300x195.jpg)
Zimmer Biomet President and CEO Ivan Tornos [Photo courtesy of Zimmer Biomet]
The company also disclosed compensation packages for top executives and reported slightly higher pay for its median worker.
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.
Zimmer Biomet is the world’s 18th-largest medical device company, according to our 2024 Medtech Big 100 ranking by revenue. That ranking was based on Zimmer Biomet’s 2023 revenue of $7.39 billion; the company reported $7.68 billion in total revenue for 2024.
Zimmer Biomet executive pay
Zimmer Biomet’s top-paid executive in 2024 was President and CEO Ivan Tornos at $15 million, including a $1.2 million salary, $11.8 million in stock awards and a $1.7 million bonus.
Tornos also received other compensation worth $267,301, including $150,960 for non-business use of corporate aircraft, $74,215 for deferred compensation plan contribution matching, $20,700 for 401(k) plan matches and $11,845 for personal tax assistance.
His total compensation increased 47% from $10.2 million the year before.
Zimmer Biomet CFO and EVP of Finance, Operations and Supply Chain Suketu Upadhyay [Photo courtesy of Zimmer Biomet]
Upadhyay also received other compensation worth $182,379, including $45,206 for non-business use of corporate aircraft, $95,135 for deferred compensation plan contribution matching, $20,700 for 401(k) plan matches and $12,000 for personal tax assistance.
Upadhyay’s total compensation decreased 43% from $10.4 million the year before.
Zimmer Biomet EMEA Group President Wilfred van Zuilen [Photo courtesy of Zimmer Biomet]
Van Zuilen also received other compensation worth $98,790: $67,449 for a corporate-paid apartment in Zug, Switzerland, and a $31,340 automobile allowance.
Van Zuilen’s total compensation decreased 2% from $3.4 million the year before.
Zimmer Biomet APAC Group President Sang Yi [Photo courtesy of Zimmer Biomet]
Yi also received other compensation worth $144,273, including a $67,923 automobile allowance, $4,614 for office parking fees, $68,897 for Hong Kong Mandatory Provident Fund contributions and $2,840 for personal tax assistance.
Yi’s total compensation decreased 7% from $3.4 million the year before.
Zimmer Biomet’s fifth-highest-paid executive was Americas President Mark Bezjak at $3 million, including a $637,280 salary, $1.9 million in stock awards and a $482,881 bonus.
Bezjak also received other compensation worth $76,242, including $53,320 for deferred compensation plan contribution matching and $20,700 for 401(k) plan matches.
Zimmer Biomet Americas President Mark Bezjak [Photo courtesy of Zimmer Biomet]
Zimmer Biomet said in the securities filing that its executive compensation packages are mean to “attract, retain and motivate a highly qualified and effective senior leadership team; focus executives’ attention on specific financial, operational and strategic objectives; create a direct relationship between pay and performance; align executives’ interests with the long-term interests of our shareholders; recognize company and individual performance; and reflect the value of each executive’s position in the market and within the company.”
Zimmer Biomet’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.
Zimmer Biomet calculated its median employee wage at $68,111 for 2024, up 2% from $66,850 the yea before.
The latest median employee pay figure put Zimmer Biomet’s CEO pay at 220 times more than its median employee’s pay. That pay gap widened from 250:1 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.
Zimmer Biomet investors will cast advisory “say-on-pay” votes on the company’s executive compensation practices at the May 29 annual meeting. Shareholders overwhelmingly voted in support of the company’s executive pay the year before.
2023: Zimmer Biomet changes executive pay plans after shareholder vote
More medtech compensation analysis for CEOs, top-paid executives and median workers
- GE HealthCare executive compensation plunges after one-time spinoff awards
- Edwards Lifesciences reports $14.6M in pay for CEO’s first full year; median employee pay jumps
- 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
