17 July 2012
AstraZeneca paid former chief executive David Brennan up to £4.4 million on top of his £14 million pension pot, it emerged this afternoon.
But Brennan, who left on June 1 after pressure from shareholders in the wake of poor sales, waived his bonus for the first five months of this year.
The company’s annual report showed Brennan got a lump sum of £914,122 as part of his notice period plus a share award of £1.5 million for 2010 and a potential £2 million more.
It said his £14 million pension pot, accrued over his 36 years at the company, would pay him around £970,000 a year. Brennan has said the decision on his departure in April had been made “totally” by himself.
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