One of the biggest shareholder advisory group said Pascal Soriot’s bonus was ‘not suitably aligned with performance’ BEN STANSALL/AFP/GETTY IMAGESAstra Zeneca chief executive Pascal Soriot is facing a potential backlash from investors over his £9.4m pay package, in the latest battle over bumper boardroom bonuses. One of the biggest shareholder advisory groups, which holds significant sway among the tracker funds that control a large chunk of the FTSE 100 company, has urged investors to vote against the pay deal at the drugs giant’s AGM on May 18. Institutional Shareholder Services (ISS) raised concerns over the level of Soriot’s £1.9m bonus, which it said was “not suitably aligned with performance”. Other payments include a basic salary of £1.2m and long-term incentive payments of £5.7m. A second advisory group, Pirc, has also recommended a vote against the report, saying share payments and bonuses are “excessive”.

Source: The Times May 05, 2018 23:06 UTC