The drugmaker’s ceo did nicely last year - he received a total compensation package worth $26.9 million. Miles, who is a mere 51 years old, had a $1.7 base salary, stock awards of $10.6 million, options awards worth nearly $8.5 million, and incentive pay worth $4 million, according to the Abbott proxy.

Moreover, his base salary rose about 3 percent from $1.61 million in 2005, and his incentive-pay - not derived from stock options - was 53 percent higher than his bonus of $2.65 million in 2005. Not bad for a year’s work. Of course, this wasn’t just any year - Miles decided to buy a unit from Guidant as well as Kos pharmaceuticals.

The question is this: What does he do for a follow-up? Beyond cut costs, that is.

Here’s the proxy, and there’s a Bloomberg News story, too.

[tags]Abbott Laboratories, Executive Pay[/tags]