GlaxoSmithKline shareholders await vote outcome
Anxious GlaxoSmithKline shareholders were tonight left waiting for news of the vote at today’s AGM at which many registered their dissent against a “golden parachute” package for chief executive Jean-Pierre Garnier.
The controversial deal caused a storm at the London meeting which featured one of the potentially biggest shareholder revolts in British corporate history.
Shareholders are angry about the payment Dr Garnier would receive if he lost his job.
According to the Pensions Investment and Research Consultancy, Dr Garnier could get £22m (€30m) – a figure that GSK disputes.
During the meeting, GSK chairman Christopher Hogg said analysis of votes received before the meeting led him to conclude that the outcome of voting on executive pay and rewards remained “finely balanced”.
