16th Apr 2020 14:32
(Alliance News) - AstraZeneca PLC is set to face vehement opposition to its remuneration report during its annual general meeting later this month, Sky News reported on Thursday.
The company's annual general meeting takes place on April 29.
Sources told the broadcaster that the Investment Association has taken aim at the company's executive pay policy, specifically Chief Executive Pascal Soriot's pension contribution.
Sky News reported the pharmaceutical firm plans to cut Soriot's pension contribution to 20% of his GBP1.3 million salary, from 30%. The broadcaster noted that this percentage is still above the average payment to AstraZeneca's employees.
It is not the first time AstraZeneca has faced opposition to its pay policy, Sky News noted. In 2018, 35% of investors rejected its remuneration report, slightly down for 39% in the year prior.
AstraZeneca shares were 2.0% higher at 7,768.00 pence each in London on Thursday afternoon.
https://news.sky.com/story/astrazeneca-faces-humiliating-revolt-over-chief-soriots-pay-package-11974139
By Eric Cunha; [email protected]
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