AstraZeneca's chief executive David Brennan is at the centre of a row today following a revelation that his pension pot has grown by 50 per cent in the last two years.
It is now the third-highest accrued pension for a UK company director behind Shell and the Carnival Group, according to a new survey, and will give Mr Brennan an entitlement of £915,000 a year.
Staff at the firm are preparing to walk out again today (WED) on a second round of strikes in a dispute over the freezing of the firm's final salary plan.
Paul Kenny, general secretary of the GMB union, said, "It is particularly shocking that at the very time when this hugely profitable company is attacking GMB members’ pensions, its chief executive David Brennan has reached third in the UK league of the top bosses' pension entitlements. When he retires based on today’s figures, Mr Brennan will enjoy a pension of more than £17,500 per week."
Mr Kenny, who will attend today's strikes at two AstraZeneca sites in Cheshire, added: "This is in sharp contrast with the decision to freeze pensionable pay for the UK's AstraZeneca workers. It is another case of boardroom greed and a culture which is summed up by ‘do as I say not as I do’. " Mr Brennan's pension pot was revealed in the TUC's eighth annual 'Pensions Watch' survey of retirement deals for heads of the UK's biggest firms.
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