You often hear about the salaries of corporate executives, especially this time of the year as end-of-the-year bonuses are given. So it was interesting to read an Associated Press article about the compensation package paid to the top executive of one of our Tredyffrin-based companies. Drug distributor AmerisourceBergen Corp. is headquartered in Chesterbrook and David Yost has been its CEO since 2001 and its president since 2007. Yost’s total compensation package for 2009 rose 3% to $5.5 million. Included in the package, his salary rose by 4% to $1.2 million, and his performance-based cash bonus grew 11% to $3 million. However the value of his stock options dropped 16% to $1.1 million. AmerisourceBergen’s operating profit grew 7% due to lower expenses and better profit margins. Total revenue increased by 2% TO $71.76 billion. Yes, that is billion not million.
It’s great to know that we have such a successful company in our community. The Tredyffrin Historic Preservation Trust is kicking-off our Build the Barn Capital Campaign for the Jones Log Barn rebuilding project. I’m thinking that as a Chesterbrook-based corporation, that maybe Mr. Yost and his AmerisourceBergen company might like to make a splash in their own backyard and help us with our barn rebuilding project at Historic DuPortail. Can’t think of a better way for this local company to show their community-spirit than through a donation to support historic preservation.