From Investing.com: 2024-04-11 21:20:53

AstraZeneca shareholders approved a 2024 pay policy boosting CEO Pascal Soriot’s pay to £18.9 million this year, but over a third revolted. In 2021, almost 40% cast votes against the long-term incentives policy. Despite notable opposition, 64.43% of total votes were in favor. Soriot received £16.9 million last year.

The pay policy approval is a boost for Soriot, one of London’s highest-paid executives, as UK firms aim to match global rivals’ pay. AstraZeneca defended the policy, citing the need to increase competitiveness and recognize leadership’s role in hitting targets. Soriot has driven AstraZeneca’s transformation since 2012.

AstraZeneca announced a 7% increase in 2024 dividend payouts, expecting strong performance from blockbuster drugs and recent acquisitions. Its shares have outperformed GSK’s and the pharma index, rising 85% since Jan 1, 2019. AstraZeneca’s shares are trading at $1.26.



Read more at Investing.com: AstraZeneca CEO could earn 19 million pounds as pay measure clears opposition By Reuters