Pharmaceutical multinational AstraZeneca has suffered a shareholder revolt in which 39% of investors voted against the group’s remuneration report for 2016, including a $16.8m (£13m) 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”.
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”.