At the time of writing, our data says that AstraZeneca PLC has a market cap of UK£118b, and reported total annual CEO compensation of UK£14m for the year to December 2019. Job Description / Capsule: - The Compensation and Benefits Manager is responsible for provision of subject matter expertise on all Compensation and Benefits matters supporting all Senior Executive Team (SET) areas in India. Benefits information above is provided anonymously by current and former AstraZeneca employees, and may include a summary provided by the employer. "It is annoying to some extent.While AstraZeneca's financial performance has improved during Mr Soriot's seven-and-a-half-year tenure, and its total shareholder return is industry-leading, some investors believe it pays scant regard to effective corporate governance.AstraZeneca and the IA declined to comment on Thursday.Investors' anger against AstraZeneca, which has faced a string of pay revolts in previous years, has been ignited by its refusal to reduce chief executive Pascal Soriot's pension contribution to the average applied to its vast UK workforce.AstraZeneca recorded more than $24bn in revenue last year, and employs more than 70,000 people around the world - over 3000 of whom have a PhD.The IA signalled last year that it would take a hard line against companies which refused to align executives' retirement contributions with those of their workforces.The intensity of any pay revolt against AstraZeneca this month may be diminished by the fact that investors are being barred from attending forthcoming company meetings in person because of the coronavirus pandemic.
After Soriot fought off the multibillion-dollar takeover bid by Pfizer that year, investors were concerned by the company's refusal to link exec pay to targets he set out in defense, including the much-discussed goal of $40 billion sales by 2023.Lilly lost $500 million in potential sales because of the pandemic, but one analyst thinks it's still in a strong position, thanks to new launches.In 2019, AZ’s directors granted Soriot a £1.93 million bonus, or 150% of a target equal to his salary.
Pascal Soriot, AstraZeneca 2019 total pay: £14,330 million ($18.30 million) 2018 total pay: £11,356 million ($15.10 million) Percentage change: 21% The AZ board said its approach, including capping the contribution at absolute monetary values going forward, “was supported by the vast majority of our shareholders during consultation.”Pfizer CEO Albert Bourla doesn't agree with biopharma peers who are vowing to take not-for-profit approaches to COVID-19 vaccine development.Nevertheless, it’s still well above the average payment to employees, Sky noted.
Over the weekend more than 35 percent of shareholders in the U.K.-based pharma giant rejected or abstained from supporting an executive pay plan. This is the second time shareholders have opposed the compensation package for Chief Executive Officer Pascal … "Leif Johansson, AstraZeneca's chairman for almost eight years, is expected to step down within the next 18 months.Sources said that the Investment Association's (IA) influential IVIS voting advisory service had applied a red-top alert to AstraZeneca's pay policy, the strongest possible warning about a company's behaviour, because of the pension award.Mr Soriot earned £14.3m last year, making him one of the best-paid bosses of a FTSE-100 company.The year before, he was paid £12.9m - a figure which prompted an extraordinary outburst in an interview with The Sunday Times, in which Mr Soriot said:" The truth is I'm the lowest-paid CEO in the whole industry," he said.In the company's annual report, Graham Chipchase, the non-executive director who chairs its remuneration committee, wrote: "I met 16 of AstraZeneca's top shareholders over the course of three months to discuss our proposals and was pleased with the level of engagement, feedback and support received. GREAT long-term compensation with a VERY generous 401(k) matching plan. AstraZeneca has a problem.Not with its pipeline, but with the way a significant chunk of shareholders views its executive pay program.
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