Glaxo CEO’s Bonus Reduced by China Bribery Investigation
Chief Executive Officer Andrew Witty received a bonus less than the maximum possible because of a Chinese investigation into bribery allegations against the company.
Witty’s bonus of 1.88 million pounds ($3.13 million) was lower than the potential 2.12 million pounds he might have gotten, Glaxo said today in its annual report. Even so, the bonus was more than double the amount awarded for 2012 after the company won regulatory approval of six products last year.
China began an anti-corruption probe focused on London-based Glaxo in July. Allegations by China’s government that Glaxo bribed hospitals, doctors and officials contributed to a plunge in revenue from that country and a hit to its corporate image.
GSK & China en PHARMACOSERÍAS