miércoles, 10 de mayo de 2017

AZ: La rebelión de los inversionistas

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AstraZeneca’s investors are repeating history with a revolt against executive pay. Almost 40% voted against CEO Pascal Soriot’s 2016 compensation package on Thursday, just about the same percentage that tossed tomatoes at the numbers back in 2014.

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This time around, Soriot’s compensation total was much higher—£13.4 million, or about $17.3 million—compared with the £3.34 million ($5.6 million), plus potential performance awards of £4.35 million, that touched off the revolt three years ago. 

 This year’s vote also follows some restiveness over the last two years as leading shareholders called on AstraZeneca’s board to tie Soriot’s pay more directly to the $45-billion-by-2023 revenue goal he set when Pfizer was trying its takeover. That goal, which some analysts called laughably ambitious at the time, is no less aggressive now, and Soriot himself has since said the company would be "lucky" to hit it. 

 The 39% vote against AZ’s 2016 compensation report has no direct consequences. It’s advisory only. The binding vote on compensation, which applies to the coming year’s remuneration plans, was in favor, almost unanimously, with 96% backing the scheme. 

AstraZeneca engaged extensively with its major shareholders on remuneration matters during 2016,” the company said in a statement, adding that the proposals for the coming year were based on shareholder feedback. One change, the company said in its annual report, is the demise of the AstraZeneca Investment Plan (AZIP), previously used to deliver performance awards. (Más)
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