Thermo Fisher Scientific TMO

Marc Casper, CEO of Thermo Fisher Scientific (TMO), received $12.0M in total reported compensation. The package mix typical at this scale: a small base salary, a larger stock-award component, and performance-tied incentives that vest over multiple years based on relative TSR or earnings benchmarks.

The CEO-to-median-worker pay ratio runs 126x. Lower ratios typically reflect companies with higher-paid workforces (financial services, technology, professional services) where the median worker pay denominator is itself substantial. Three-year performance has been roughly flat — TSR of 14.5% alongside 11.0% revenue growth. Flat performance over a multi-year window is where pay-versus-performance debates get the most heated: large compensation packages without commensurate shareholder returns are the modal complaint at annual meetings.

Say-on-pay support was strong at 90%. The Dodd-Frank-mandated advisory vote on executive compensation passes at most U.S. public companies with comfortable margins; meaningful dissent typically requires either pay-performance misalignment or specific governance concerns. Thermo Fisher Scientific operates in Life Sciences with 122,000 employees and $42.9B in annual revenue, and currently carries a market capitalization of $200.0B. Pay comparisons across companies require controlling for these structural factors — a $20M package at a $10B-revenue tech company reads differently than the same package at a $1B-revenue industrial.