Allegan, Michigan-Based Drug Manufacturer Perrigo Company plc's Top-Tier Executives Average Pay Raise Was a Blistering 28.8% Per Year During the Past 10 Years (2009-2018). It Appears That Perrigo and Its Board of Directors Were Into Grade Inflation Given How Perrigo Has Actually Underperformed in the Past Decade. Grade Inflation of the Performance of Top Level Executives Results in Annual Pay Raise Inequality Expansion.

Detroit, Michigan is the site of the second Democratic 2020 Presidential candidate televised debate to be held on July 30-31, 2019.  The Under 75 Progressive Wing will be led by the energetic Elizabeth Warren, Kamala Harris, Corey Booker and Julian Castro.  The Under 75 More Moderate Wing will be led by Pete Buttigieg, Amy Klobuchar, Beto O'Rourke and Latecomers Michael Bennet and Steven Bullock.

The key issue to Detroit and to Michigan citizens should be the huge and continuing Income Inequality Expansion which is at the core of many critical problems the US faces.

Thus I will be doing research and making posts on the average pay raise per year that the Top-Tier Executives of many large Michigan Companies were rewarded with in the past ten years.

The 15th Michigan Company I am addressing is Perrigo Company plc, a Drug Manufacturer.

From annual compensation information contained in Company Proxy Statement and 10-K filings with the SEC, the chart at the very bottom below shows Perrigo Company plc's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the most recent ten years. 

Perrigo's Top-Tier Executive Average Pay Raise was a blistering 28.8% per year for the last decade and is the sixth highest of the 15 large Michigan Companies I have addressed so far.

1. Credit Acceptance Corp +195.9% per year for the past ten years
2. Sun Communities Inc +72.8% per year for the past ten years
3. Lear Corp's +56.1% per year for the pat ten years
4. Domino's Pizza +31.8% per year for the past ten years
5. General Motors  +29.5% per year for the past ten years
6. Perrigo +28.8% per year for the past ten years
7. BorgWarner +25.3% per year for the past ten years
8. CMS Energy +21.9% per year for the past ten years
9. Stryker Corp +20.7% per year for the past ten years
10. Ford Motor Co +17.0% per year for the past ten years
11. Masco +15.6% per year for the past ten years
12. Ally Financial +15.6% per year for the past four years
13. DTE Energy +10.6% per year for the past ten years
14. Aptiv PLC +10.0% per year for the past eight years
15. Kellogg +7.8% per year for the past ten years

My objective is to get a better handle on just why the US and especially Michigan has such massive continuing Income Inequality Expansion ..... it appears to be predominantly about the relative long-term annual pay raise percentages, coupled with the stock price appreciation subsequent to the time the Top-Tier Executives were rewarded in their pay with stock equity compensation.

To fix Income Inequality driven mainly by Company and its Board of Director choices on Percentage Annual Pay Raises, the US Government should step in and pass wisely-designed Fair Pay Raise Income Inequality Narrowing Company tax incentives ..... the carrot ..... and Company wise tax disincentives ..... the stick.  

And the continuing annual net tax revenues raised by the US Government here should be set up in a separate fund to be used only for wise additional income inequality narrowing initiatives.  This fund should be run by an outside group made up entirely of minorities harmed the most by Income Inequality Expansion of the past decades  .....all women, all blacks, all Latinos, all other non-white people, all past and present union members, all LGBTQ, all non-employee contract workers and all middle and lower income people of all ages, including those retired.

Also, the US Government should require all US Corporate Boards to include at least one worker representative and to exclude any Company Executive.

	FYE	FYE		FYE	FYE		FYE	FYE		FYE	FYE		FYE	FYE
	Dec	Dec		Dec	Dec		Dec	June		June	June		June	June
Perrigo Co plc	2018	2017		2017	2016		2016	2015		2015	2014		2014	2013
Top-Tier	Total	Total		Total	Total		Total	Total		Total	Total		Total	Total
Executive	Comp	Comp		Comp	Comp		Comp	Comp		Comp	Comp		Comp	Comp
	$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s
Murray Kessler CEO	N/A	N/A
Ronald Winowiecke CFO	3,359	2,033		N/A	N/A
Todd Kingma General Counsel	2,768	2,325		2,325	1,865		1,865	2,150		2,150	4,059		4,059	1,519
Jeffrey Needham Pres Consumer HC Americas	3,256	1,870		1,870	1,598		N/A	N/A
Svend Andersen Pres Consumer HC Intl	N/A	N/A
Uwe Roehrhoff Former CEO	N/A	N/A
John Hendrickson Former CEO	N/A	N/A		8,322	5,800		5,800	2,065		2,065	2,956		2,956	1,321
Sharon Kochan PresBrandConsumerHC&Intl				2,040	1,481		1,481	1,617		1,617	2,799		2,799	1,259
Judy Brown Former CFO				N/A	N/A		2,904	3,369		3,369	6,412		6,412	2,289
Joseph Papa Former CEO							N/A	N/A		10,614	18,946		18,946	6,146
Totals	9,383	6,228		14,557	10,744		12,050	9,201		19,815	35,172		35,172	12,534
Annual % Change vs Prior Year	50.7%			35.5%			31.0%			-43.7%			180.6%
5 Year Average Per Year % Change		50.8%
	FYE	FYE		FYE	FYE		FYE	FYE		FYE	FYE		FYE	FYE
	June	June		June	June		June	June		June	June		June	June
Perrigo Co plc	2013	2012		2012	2011		2011	2010		2010	2009		2009	2008
Top-Tier	Total	Total		Total	Total		Total	Total		Total	Total		Total	Total
Executive	Comp	Comp		Comp	Comp		Comp	Comp		Comp	Comp		Comp	Comp
	$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s
Todd Kingma General Counsel	1,519	1,658		1,658	1,715		1,715	1,584		1,584	1,314		1,314	1,407
Jeffrey Needham Pres Consumer HC Americas				N/A	N/A
John Hendrickson Former CEO	1,321	1,426		1,426	1,460		1,460	1,337		1,337	1,039		1,039	1,218
Sharon Kochan PresBrandConsumerHC&Intl	N/A	N/A
Judy Brown Former CFO	2,289	2,088		2,088	1,900		1,900	1,690		1,690	1,308		1,308	1,306
Joseph Papa Former CEO	6,146	6,233		6,233	5,650		5,650	5,265		5,265	3,978		3,978	4,298
Rafael Lebel President Perrigo Israel							1,535	1,532		1,532	1,168		1,168	1,408
Totals	11,275	11,405		11,405	10,725		12,260	11,408		11,408	8,807		8,807	9,637
Annual % Change vs Prior Year	-1.1%			6.3%			7.5%			29.5%			-8.6%
5 Year Average Per Year % Change		6.7%
10 Year Average Per Year % Change		28.8%