38% rise for head of Zeneca

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The Independent Online
Sir David Barnes, chief executive of Zeneca, saw his total pay jump 38 per cent to pounds 898,000 last year. The rise rounds off a year of personal success for the executive head of Britain's third-biggest drugs group.

He also received a knighthood "for services to the pharmaceutical industry" last year and saw Zeneca's profits exceed pounds 1bn for the first time.

Writing in the latest annual report, Sir Sydney Lipworth, chairman, said: "David has been tireless in his endeavours to develop Zeneca and his contribution to both the company the industry has been profound."

Sir David's basic pay of pounds 525,000 was supplemented by cash and share bonuses totalling pounds 315,000 and a pounds 46,000 pension contribution. His pay has some way to go yet to match that of Jan Leschly, his opposite number at rival drugs group SmithKline Beecham, who saw his total emoluments rise 15 per cent to pounds 2.52m last year.