Leo Pharma executives receive huge bonuses despite multi-million dollar deficit

Leo Pharma has increased salary expenses for its top leadership, not least due to a larger million dollar payment to former CEO Catherine Mazzacco.

Catherine Mazzacco, former CEO of Leo Pharma | Photo: Leo Pharma / PR

Although Leo Pharma is hemorrhaging millions of dollars, the company has still managed to scratch enough together for solid severance payments and nice bonuses for the executive management, the company’s annual report for 2021 reveals.

Catherine Mazzacco, who was only Leo Pharma’s CEO for two years, got a golden parachute of DKK 25m (USD 3.7m), which however included an unspecified amount in regular remuneration.

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