Novartis has announced it has agreed to scrap plans to provide Dr Daniel Vasella with a US $78 million payout over the next six years when he steps down from his role as Chairman of the Board.

Daniel Vasella says he was too harsh as a young CEO, telling employees he didn't trust them. From a November 2009 interview in WSJ's Lessons in Leadership series.

Chairman and former Chief Executive Officer (CEO), Novartis, Basel, Switzerland. Daniel Vasella, M.D., was appointed Chairman of Novartis in April 1999, having served as CEO and executive member ...