Advisory Firm Recommended AstraZeneca PLC Investors Oppose CEO's Excessive Pay
A key shareholder advisory firm recommended AstraZeneca Plc investors oppose Chief Executive Officer Pascal Soriot’s pay on the grounds that parts of the compensation package were “excessive” and bonus targets weren’t disclosed.
Soriot’s bonus and long-term incentives were 580 percent of his salary, according to a report issued Thursday by Pensions & Investment Research Consultants Ltd. Recent targets for Soriot’s annual bonus weren’t disclosed because London-based Astra deemed them commercially sensitive, the advisory firm said.
“The balance of CEO realized pay with financial performance is not considered acceptable,” PIRC said in its recommendation.
Soriot’s bonus and long-term incentives were 580 percent of his salary, according to a report issued Thursday by Pensions & Investment Research Consultants Ltd. Recent targets for Soriot’s annual bonus weren’t disclosed because London-based Astra deemed them commercially sensitive, the advisory firm said.
“The balance of CEO realized pay with financial performance is not considered acceptable,” PIRC said in its recommendation.