Gilead CEO Daniel O'Day Sees Compensation Rise to $23.7M Amid Company Growth

Gilead Sciences, Inc., a leading biopharmaceutical company, has reported a significant increase in CEO Daniel O'Day's compensation package for 2024, reflecting the company's continued growth and success in the pharmaceutical industry.

Executive Compensation and Company Performance

Daniel O'Day, who has been at the helm of Gilead since 2019, received a total compensation package of $23.7 million in 2024, marking a 5% increase from his 2023 earnings of $22.6 million. This upward trend in O'Day's remuneration aligns with Gilead's improving financial performance and market position.

The compensation breakdown for O'Day includes:

• Base salary: $1.8 million
• Equity awards: $16.5 million
• Bonus: $4 million
• Other compensation: $1.3 million

Gilead's proxy statement revealed that O'Day's compensation was 97 times that of the median employee at the company, who earned $244,296 in 2024.

Gilead's Financial Performance and Market Position

Under O'Day's leadership, Gilead has seen a notable improvement in its financial metrics and market valuation:

• Revenue increased by 6% in 2024, reaching $28.8 billion, primarily driven by the success of its HIV product portfolio.
• The company's market capitalization has grown from $83 billion when O'Day took over to $138 billion at present.

This growth comes after two consecutive years of small revenue declines, indicating a positive turnaround for the California-based drugmaker.

Executive Team Changes and Compensation

Gilead's proxy report also provided insights into other executive compensations and changes within the company:

• Chief Financial Officer Andrew Dickinson: $8.1 million (unchanged from 2023)
• Chief Commercial Officer Johanna Mercier: $8.6 million (slight increase from 2023)
• General Counsel Deborah Telman: $6.1 million (up from $5.3 million in 2023)

A notable change in the executive team was the departure of Chief Medical Officer Merdad Parsey, M.D., Ph.D., in July 2024. The company characterized his termination as "involuntary" and "without cause." Parsey received a severance package of $3.4 million in addition to his $8.1 million compensation for 2024.

Dietmar Berger, M.D., Ph.D., formerly of Sanofi, took over as the new Chief Medical Officer at the beginning of 2025, while Parsey continued as a consultant through the first quarter of the year.

These executive changes and compensation adjustments reflect Gilead's ongoing efforts to maintain its position as an HIV powerhouse while seeking to strengthen its oncology portfolio, a key focus since O'Day's appointment in 2019.