BusinessCompany NewsGlaxo chief’s pay rise defies shareholders

Glaxo chief's pay rise defies shareholders

Jean-Pierre Garnier, the chief executive of GlaxoSmithkline, received a 13% pay rise last year, it has been revealed.

Link: Drugs giant faces £2.85bn tax bill

This ten-times-the-rate-of-inflation increase came despite a high-profile ‘fat cat’ pay and perks package being voted down by shareholders last year.

Garnier’s annual salary is now a little short of £2.8m.

He was paid salary and fees of £916,000, £182,000 for holding onto shares and a bonus of £1.5m.

A spokesman said the bonus was due to the good profits Glaxo had made.

Last May, Glaxo’s shareholders became the first at a British blue-chip company to reject a pay rise for its directors.

Just over half voted down a multi-million pound pay ride for Garnier.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor