GSK plans to raise non-exec pay
GlaxoSmithKline has announced plans to significantly increase the salaries of its non-executive directors.
According to proposals, reported in The Financial Times, some of the board’s non-executives will receive as much as £100,000 a year.
Some of the pharmaceutical giant’s investors have expressed concern at the plans fearing the rise could compromise the independence of non-executives.
Others however have said they understand the company’s position given the increased responsibility placed on non-executives in the recent tightening of corporate governance rules and the need to attract the best people in a global market.