AstraZeneca CEO May Get $65 Million Exit Package, Times Says

Departing AstraZeneca Plc (AZN) Chief Executive Officer David Brennan could get as much as 40 million pounds ($65 million) as part of his exit package, the Sunday Times said, not citing anyone.

This will include an almost 1 million-pound annual pension, according to the newspaper.

“The exact terms of David Brennan’s package on retirement have yet to be agreed by the Board, which we’ll disclose in due course,” Neil McCrae, a spokesman for AstraZeneca said today in an e-mailed statement. “The figures used in media reports are entirely speculative at this stage.”

“David Brennan’s pension reflects the fact that he has been at the company for 36 years at increasingly senior positions,” McCrae also said.

To contact the reporter on this story: Anne-Sylvaine Chassany in London at achassany@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net