AstraZeneca’s ‘massively underpaid’ boss bags £18.7m

• Published date: 16 April 2024
• Publication title: Irish Times (Dublin, Ireland)

Soriot is “massively underpaid”, said Jain, “given AstraZeneca’s impressive turnaround since he joined more than a decade ago.” Unsurprisingly, others disagreed, with advisory firms Institutional Shareholder Services (ISS) and Glass Lewis calling on shareholders to reject the pay package

ISS described Soriot’s compensation as “unprecedented” among FTSE companies, saying the latest hike “further widens” the pay gap with FTSE peers. Soriot’s pay has long been controversial.

In 2021, 40 per cent of shareholders voted against an increased pay package awarded in the face of negative headlines regarding AstraZeneca’s Covid-19 vaccine roll-out. Nevertheless, shareholders ultimately approved Soriot’s latest pay deal. Announcing a large dividend increase hours before...