Our views

Shire has further to go to address governance concerns

Ashley Hamilton Claxton, Corporate Governance Manager

25 April 2017

After voting against pay last year, we are pleased that Shire's Remuneration Committee has responded to investor concerns this year, offering a lower long-term incentive award for CEO, Flemming Ornskov and CFO, Jeff Poulton. While we acknowledge this conciliatory gesture, we have chosen to abstain on the remuneration report to reflect our lingering concerns about the 25% base pay increase awarded last year to Mr. Ornskov, the gearing of long-term awards and the adjustments made during 2016 to performance conditions outlined in the remuneration policy.

The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back the amount originally invested. The views expressed are the author’s own and do not constitute investment advice.