A third of investors have revolted against excessive executive pay at Abcam, one of Britain’s biggest biotechnology companies.
Almost 33 per cent of voting shareholders opposed the remuneration report at the company’s annual shareholder meeting, while more than 13 per cent rejected its remuneration policy, which sets executive pay.
Abcam is based in Cambridge and supplies products and tools to two thirds of the world’s scientific researchers. It generated pre-tax profit of £69 million last year on revenues of £233 million and is valued at £2.6 billion on the London stock market.
Alan Hirzel, Abcam’s chief executive, was paid a total of £1.78 million last year, including £492,000 in salary and £765,000 in long-term performance share awards. His salary increased by 22 per cent to…
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