Monsanto gives CEO Hugh Grant 64% raise ahead of Bayer acquisition

Monsanto increased Chief Executive Officer Hugh Grant’s pay 64 percent to $19.5 million for fiscal 2017 after he missed out on a cash bonus last year, Bloomberg reports.

Grant got a $6 million bonus and $11 million of stock awards for the fiscal year ended Aug. 31, along with a $1.7 million salary and other compensation. It marks the first time since 2002 that Grant, who’s also chairman, didn’t receive stock options because the Bayer deal prohibits it. The stock awards include $5.65 million of retention compensation in lieu of options.

Read more at Bloomberg (Jenn Zhao and Simon Casey)

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