AstraZeneca's £4.4m package for former boss David Brennan
Tuesday 17 July 2012
AstraZeneca paid its former chief executive David Brennan up to £4.4m on top of his pension pot totalling £14m, it emerged yesterday.
However, Mr Brennan, who quit after growing pressure on him from shareholders, waived his bonus for the first five months of 2012 following his sudden departure after poor sales and setbacks with its pipeline of new drugs.
The company released figures in its annual report showing Mr Brennan got a lump sum of £914,122 as part of his notice period plus a share award of £1.5m for 2010 and a potential £2m more depending on previous share awards' performance.
The report said his £14m pension pot, which was accrued over his 36 years at the company, would pay him around £970,000 a year.
Mr Brennan has said that the decision on his departure in April had been made "totally" by himself.
However, shareholders had pushed for his departure in what was a key moment of the so-called "shareholder spring".
- 1 Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
- 2 Pictures show young Palestinian girl biting Israeli soldier trying to detain boy during West Bank protests
- 3 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 4 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
- 5 The 20 toughest job interview questions in the world
Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
Pictures show young Palestinian girl biting Israeli soldier trying to detain boy during West Bank protests
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Stock up on canned food for stock market crash, warns former Gordon Brown adviser
Labour leadership: Jeremy Corbyn voters most likely to believe 'world is controlled by a secretive elite'
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...