The board of directors at Acorda Therapeutics (ACOR) has docked the pay of CEO Ron Cohen for a series of missteps that hobbled the drug maker last year. Cohen was due to receive a 2017 bonus of just under $255,000 — about half of his customary bonus — because Acorda only achieved 40 percent of its corporate goals for the year.
It's been a tuff year for the Leadership Team. Let's hope the new decade sees the rebound explode as biopharmaceutical face numerous challenges. Wish all rank & file a great future as Acorda WILL become a winner agin !! as for the bonus for the top leaders they are still on the generous side given stock price, but necessary to retain them.
Retain them for what? The incredible failure they have created. The Billions lost in market cap.? What will they do different that have not done already... another downsizing for cost savings, take on more debt, discount inbrija deeper to further annihilate GTN. They have done enough time for new blood.
Retain them? So you’re saying they would leave and abandon this mission if paid more? Interesting... they are only here for the pay day and not because of their belief in Inbrija and Arcorda?
The BOD prefers continuity in the chain of command. They may have underperformed !(fact) but if we lose them then what do we have? No doubt they have learned from their bad decisions (yes they are Mensa..so therefore very bright so They will not repeat those errors.) So a vote of confidence from the Board is muted by the lousy bonus. Life can be tuff !
Poor Ron. I hope he is able to enjoy the holidays in spite of this egregious slap in the face. Who are you kidding Habib, the BOD knows they have let this go for too long. What capable CEO would want to come to ACOR and clean up this mess? No revenue, no pipeline, downtrodden employees. Not to mention, new blood would uncover all the crap the BOD has signed off on. ACOR is a sinking ship stuck with the captain that ran her aground.
