Glaxo Chief Witty’s Compensation Cut 46% as Profit Declined
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GlaxoSmithKline Plc Chief Executive Officer Andrew Witty’s total compensation was reduced by 46 percent last year as profits of the U.K.’s largest drugmaker slumped.
Witty’s annual bonus was cut 51 percent to 917,000 pounds ($1.41 million), while his salary climbed 2.6 percent to 1.09 million pounds, helping take his total pay for 2014 to 3.9 million pounds, according to London-based Glaxo’s annual report. Compensation for Chief Financial Officer Simon Dingemans, 51, was pared to 1.85 million pounds.