GlaxoSmithKline CEO Emma Walmsley has reportedly received a pay cut of 14 per cent after the company missed an internal profit target for sales of routine vaccinations against other diseases.
According the pharmaceutical giant’s annual report, Ms Walmsley’s total remuneration for 2020 came in at seven million pounds (€8.2 million).
The cut, according to comments by Non-Executive Director Urs Rohner in the report, partly reflected a missed internal profit target for biopharmaceuticals, mainly due to lockdowns stopping people from receiving routine vaccinations which cut into the CEO’s bonus.
Ms Walmsley was appointed CEO in 2017, and has made great strides in the company’s restructuring efforts, as it works to split its consumer and pharmaceutical businesses.
GlaxoSmithKline has been among the frontrunners in the effort to develop COVID-19 vaccines and treatments, with the company’s offering, which was developed in conjunction with the University of Oxford, having been approved for use in over 50 countries.
Last month, pharmaceutical chiefs came under fire as EU leaders prioritised the acceleration of COVID-19 vaccination rollouts, with pharmaceutical companies being pressed to abide by delivery commitments.
Sawadee Valletta! Iniala brings Thai family-style dining to Malta
Led by celebrity chef Ian Kittichai, Anaalā takes diners on a journey across Thailand with four rotating menus.
Deloitte Malta appoints Michael Agius as Director and Deputy Chief Legal Officer
‘Truly been a privilege to learn and grow within this global organisation,’ says Michael Agius.
Ryan Mahoney joins Bajada Group as Chief Operating Officer
This comes after more than four years as a General Manager at Bolt Malta.
Ian Zahra appointed as Director of International Tax at Deloitte Malta
He has been with the company for over six years.
