Shire posts better than expected first quarter results in face of investor backlash over executive pay
Shares in Dublin-based Shire pharmaceuticals (LSE: SHP) rose by 4% after the company posted better-than-expected first quarter 2016 results.
It comes after the company faced a backlash from investors at its AGM this week over a 25% proposed increase to chief executive Flemming Ornskov’s pay.
The proposals, which will take Mr Ornskov’s basic pay to $1.68 million and total compensation to $21.6 million, were approved by only a whisker with just under 49.5% of investors voting against the remuneration report.
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