AstraZeneca, while Europe tears up the contracts, the CEO Pascal Soriot pockets 18 million pounds. The revolt of the shareholders

AstraZeneca, while Europe tears up the contracts, the CEO Pascal Soriot pockets 18 million pounds. The revolt of the shareholders
AstraZeneca, while Europe tears up the contracts, the CEO Pascal Soriot pockets 18 million pounds. The revolt of the shareholders

Pascal Soriot, ceo of AstraZeneca, will receive a maxi bonus of 18 million pounds, more or less 21 million euros. It will be his salary for 2021. The shareholders’ meeting, in fact, approved, despite many against, with 60.19 percent of the votes cast, the super increase. The pharmaceutical company itself admitted, as it reports the Corriere della Sera, which a part of the shareholders rebelled against new remuneration policies which bring the maximum annual bonus for Soriot in 2021 to 2.5 times the base salary, against the two times set as a ceiling by the previous policy, and allow him to award long-term equity bonuses worth up to 6.5 times his wage.

Basically, Sorry he has been pocketing since joining AstraZeneca around 2012 100 million pounds, ergo a million a month. After all, since its arrival the multinational has seen in less than 10 years triple the share price, so much so that today it is valued at 100 billion pounds. In particular, in the first quarter of this year AstraZeneca recorded a doubling of the net profit, while the stock on the exchange floats around parity. The group does not even seem to be affected by the EU’s decision to stop using its vaccine.

For these reasons, AstraZeneca defends the huge salary of Soriot, “the world’s leading actor in the response to the pandemic.” But that’s not all. The Anglo-Swedish pharmaceutical company has ambitious growth objectives. So much so that if the growth of the group continues the Soriot’s stock bonus will rise from 550 per cent of his base salary of £ 1.3 million to 650 per cent, while the annual bonus could even rise to 250 per cent.

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AstraZeneca Europe tears contracts CEO Pascal Soriot pockets million pounds revolt shareholders

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