OraSure to pay new CEO $700K yearly, plus incentives

OraSure Applied sciences, the Bethlehem-based maker of diagnostic tools and specimen-collection units, pays its subsequent chief govt officer a base wage of $700,000 with incentives on prime of that.

Carrie Eglinton Method will begin on the South Bethlehem firm June 4 at a wage that works out to $13,462 per week, and he or she shall be eligible for extra.

“Ms. Eglinton Method’s preliminary annual base wage shall be $700,000 and she’s going to take part within the Firm’s annual incentive plan with a goal annual incentive quantity of not less than 100% of her annual base wage,” based on an OraSure submitting with the U.S. Securities and Alternate Fee. Eglinton Method, 48, may also function president and as a member of the OraSure board. If she had been awarded an incentive fee of 100% of her base wage, Eglinton Method’s pay for a 12 months can be $1.4 million.

She may also be eligible for awards of inventory and for automobile service for commuting.

OraSure shares have been falling and not too long ago touched a 52-week low of $4.00. They had been down 10 cents Tuesday to $4.25 at 2:15 p.m., lower than a 3rd of the 52-week excessive of $13.57.

Eglinton Method would be the firm’s third chief govt in a 12 months. She’s going to succeed Dr. Nancy Gagliano, who served as interim CEO and was not a candidate for the everlasting job. Gagliano in flip took over “following the termination of Dr. Stephen Tang on March 31, 2022,” based on the submitting.

OraSure introduced Jan. 5 that income can be on the low finish of its forecast and that Tang can be leaving. The corporate additionally stated that day it will discover “strategic options.” Final week, OraSure stated the seek for options was over, with no actions taken. Its shares fell.

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Eglinton Method is a graduate of the College of Notre Dame. Her govt expertise consists of stints at Quest Diagnostics and Common Electrical.

Amongst different merchandise, OraSure produces InteliSwab, a check for COVID.