Glaxo boss Emma Walmsley handed a £2.5m pay rise after a bumper year of sales
GlaxoSmithKline boss Emma Walmsley was handed a £2.5million pay rise after a bumper year of sales at the drugs giant.
The 50-year-old boss saw her package rise to £8.4million in 2019, up from £5.9million in 2018.
It included her £1.1million salary, £422,000 in pension contributions and benefits, a £1.8million bonus and £5.1million in performance bonuses.
Pay rise: GlaxoSmithKline boss Emma Walmsley saw her package rise to £8.4m in 2019, up from £5.9m in 2018
The rise came after an audacious deal to merge Glaxo’s consumer business with rival Pfizer, with the executive plotting to later spin it off as a standalone company.
Shingrix, Glaxo’s blockbuster shingles vaccine, notched up sales of £1.8billion, which it said made it ‘the most successful biopharma launch of the last ten years’.
Star scientist Hal Barron, 58, saw his pay fall by £223,000 to about £6.3million, with finance chief Iain Mackay paid £2.3million after joining in January 2019.
Glaxo’s annual report yesterday said its legal costs rocketed from £117million to £363million last year, after it settled with insurers who accused it of misleading them in a wrangle over drugs made at a Puerto Rico plant in violation of US standards.