Pharmaceutical multinational AstraZeneca has suffered a shareholder revolt in which 39% of investors voted against the group’s remuneration report for 2016, including a £13m ($16.8m) package for its CEO, Pascal Soriot. The company faced a similar revolt three years ago. However, new pay policy proposals were supported by 96% of investors. In an interview with Bloomberg, AstraZeneca’s chief executive, Ian Read, said that he was “very pleased” to see shareholders voting down his company’s AstraZeneca said that it had made changes to its long-term bonus plans and would continue its “dialogue with shareholders”.
Pharmaceutical multinational AstraZeneca has suffered a shareholder revolt in which 39% of investors voted against the group’s remuneration report for 2016, including a £13m ($16.8m) package for its CEO, Pascal Soriot. The company faced a similar revolt three years ago. However, new pay policy proposals were supported by 96% of investors. Soriot’s pay package was particularly large last year because a long-term incentive plan paid out. AstraZeneca said that it had made changes to its long-term bonus plans and would continue its “dialogue with shareholders”.