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GSK CEO compensation

This article was originally published in The Tan Sheet

Executive Summary

Shareholders at May 19 annual meeting vote 50.7% against a retirement pay package for CEO Jean-Pierre Garnier that would consist of two years' salary and bonus (or about $25 mil.) when exec leaves the company. In response to the May 19 vote, GlaxoSmithKline Chairman Sir Christopher Hogg says: "the Board clearly registers shareholders' particular sensitivity to contractual notice periods and payments on termination. We look forward to consulting further with leading shareholders in the coming months on our proposals to balance these objectives"...





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