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AstraZeneca PLC (AZN) Investors Enraged, Revolt Over Executive Pay Plans



4/25/2014 7:59:14 AM

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The pharmaceuticals giant AstraZeneca was rocked by a shareholder rebellion yesterday when almost 40 per cent of its investors failed to back executive pay at the group. The company, which is a $100bn (£60bn) takeover target for US rival Pfizer, suffered the setback at its annual meeting, where just 60.6 per cent of shareholders approved its remuneration report, which resulted in the chief executive, Pascal Soriot, taking home more than £3.3m in pay and bonuses last year. The rebellion came after Mr Soriot announced the possible sale or spin-off of non-core businesses in a move that analysts said could be worth up to $15bn.

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