AstraZeneca Seeking to Link Executive Pay to $45 Billion Target
- Firm looking how to link long-term incentives to sales goal
- Sunday Times said 20% of shareholders may reject CEO package
Tenormin tablets, manufactured by AstraZeneca Plc, sit on a surface at a pharmacists in this arranged photograph in London, U.K., on Monday, Dec. 14, 2015. AstraZeneca Plc said it's exploring a deal with Acerta Pharma BV that would give the U.K. drugmaker a potential blockbuster medicine for blood cancers as well as diseases in which the body attacks itself.
Photographer: Simon Dawson/BloombergA board committee at AstraZeneca Plc is looking at ways to more clearly link executive compensation to a $45 billion revenue target amid reports of investor concern over the pay package of Chief Executive Officer Pascal Soriot.
The remuneration committee will keep evaluating ways in which a “more transparent” link can be made between long-term incentives and the 2023 revenue target, the U.K.’s second-largest drugmaker said in an e-mail on Sunday.