Aetna CEO Mark Bertolini stands to make $500 million in cash and stock after the company is absorbed by CVS Health later next year.
Bertonlini will no longer serve as CEO once the deal is completed, but he will be rewarded for his 925,000 shares of company stock, according to CNNMoney.
CVS announced plans Sunday to purchase Aetna for $67.5 billion, and expects the deal to go through in the latter half of 2018. The Department of Justice needs to authorize the merger before it can be finalized.
Bertolini is also poised to collect $10 million in cash under a “change of control” clause in his contract, according to the report.
Bertolini has worked for Aetna since 2003, and served as CEO since 2010.
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