‘Obscene’ bonus hike for AstraZeneca boss prompts investor anger

  • ‘Obscene’ bonus hike for AstraZeneca boss prompts investor anger

    updated 3 days, 14 hours ago 1 Member · 1 Post
  • Anonymous

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    May 5, 2021 at 10:30 AM
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    Advisory groups ask shareholders to oppose bid to raise Pascal Soriot’s maximum share bonus to 650% of £1.3m basic pay

    AstraZeneca is facing mounting opposition over its plans to award its chief executive, Pascal Soriot, a big increase in bonuses, with three investor advisory groups calling on shareholders to vote against the policy.

    Pirc, Glass Lewis and Institutional Shareholder Services (ISS) have all flagged concerns over moves to raise the maximum share bonus Soriot can receive under a long-term plan from 550% of his £1.3m base salary to 650%. AZ also plans to hoist Soriot’s maximum annual bonus to 250% of salary from 200%, depending on performance targets being hit.

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