AstraZeneca Shareholders Revolt Against Drug Giant's Pay Report - (Bloomberg via NewsPoints Desk)

  • Bloomberg reported that 39 percent of AstraZeneca shareholders voted against the company's pay report, which covers pay for last year and existing long-term packages.

  • According to the news source, the vote is not binding and does not require the UK drugmaker to claw back the money.

  • Meanwhile, the proposed compensation policy for future years, which does face a binding vote, saw 96 percent of shareholders voting in favor.

  • CEO Pascal Soriot's compensation, including salary, bonus, long-term incentives and other benefits, rose 68 percent last year to 13.4 million pounds, the news source said.

  • Company spokesperson Vanessa Rhodes noted that AstraZeneca has already made changes to its long-term incentives program based on shareholder feedback, and consulted investors widely on the new pay policy.

  • Institutional Shareholder Services had recommended that shareholders vote against the AstraZeneca pay report, while shareholder Royal London Asset Management declared publicly it would oppose the report and the re-election of the chair of the remuneration committee.

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