Sundar PichaiSundar Pichai earned $164M in 2023

Joseph R. Swedish, born on December 1, 1951, is the former CEO of Elevance Health, a company he led from March 25, 2013, until November 20, 2017. He holds a master's degree in Health Administration from Duke University, showcasing his...

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Joseph R. Swedish

Ex-CEO of Elevance Health

Education

Master's degree in Health Administration from Duke University.

Field of Expertise

Healthcare & Life Sciences - Healthcare

Sector of Economy

Healthcare

Born

December 1, 1951 - 73 years ago

CEO of Elevance Health for

4 years 7 months (Mar 2013 - Nov 2017)

Previous Experience

President and CEO of Trinity Health Corporation.

Holdings

See how much did Joseph R. Swedish make over time.

At Elevance Health, Joseph R. Swedish's holdings fluctuated significantly over his tenure. His most substantial wealth was evident in 2016, when he had a vested stock value of around 8.9 million dollars. This number dropped in 2017 when his compensation...

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Insider Trading

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Compensation History

See how much did Joseph R. Swedish make over time.

In 2017, Joseph R. Swedish's total compensation at Elevance Health reached approximately 18.5 million dollars. This included a base salary of about 1.5 million dollars, supplemented by vested stock totaling around 11.6 million dollars, reflecting the strong performance of the company. He did not receive any bonuses in 2016 but had a compensation structure designed to reward long-term performance. In previous years, his pay varied, peaking in 2016 but illustrating a clear linkage between company success and his financial rewards. His compensation strategy emphasized aligning executive pay with the company's broader goals and shareholder interests, highlighting a modern approach to corporate governance that favors performance over guaranteed bonuses. This framework allowed him to significantly profit during periods of company growth while ensuring accountability to shareholders.

Year

2017

Total Compensation

$13.46M

Salary

$1.54M

Board Justification

The compensation philosophy emphasizes performance-based pay aligned with company performance and shareholder interests, with a significant portion of total compensation being variable and linked to long-term performance metrics.

Bonus

$0.00

Board Justification

The bonus for 2017 was based on the company's performance metrics, which included Adjusted EPS and other operational goals, resulting in a payout of 152.6% of the target bonus.

Other

$323.77K

Board Justification

Other compensation includes tax equalization payments, executive physical costs, and matching contributions to retirement plans.

Restricted Stock

$11.60M(84.3K RSU)

Board Justification

The stock awards that vested in 2017 were based on performance stock units and restricted stock units granted in previous years, reflecting the company's strong performance over the three-year period.

Performance Metrics

The performance metrics included Adjusted EPS, operating revenue, consumer centricity, provider collaboration, and quality of care.