Henri Termeer

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Bloomberg: Termeer Payout Could Top $221M

The $20B sale of Genzyme reaps a tidy sum for its CEO

Henri Termeer, the CEO of Genzyme Corp., is looking at a nice payout of as much as $221 million with the sale of the Cambridge-based biotech to French drug giant, Sanofi-Aventis SA, Bloomberg reports.

Termeer, 65, will get $145.9 million in cash from his shares, stock options and restricted stock units, the filing with the U.S. Securities and Exchange Commission today said. He will also receive a $12.5 million change-of-control payment if his employment is terminated when the deal closes. Termeer said Feb. 16 when the companies announced the $20.1 billion agreement that he planned to leave after a transition period.

The CEO, who held that position at Genzyme since 1985, also stands to gain as much as an additional $62.8 million in so- called contingent value rights tied to Genzyme’s experimental multiple sclerosis drug, Lemtrada.