Drug firm’s boardroom pay bill rises by a third

The total boardroom pay bill of drugs giant GlaxoSmithKline (GSK) rose by 30.6% to £11.78 million last year. But the biggest beneficiary was no longer in the boardroom.

Last year, GSK’S former chief executive Dr Jean-Pierre Garnier picked up £3.76 million from his share options in the group, having retired from the board in May 2008.

The present chief executive, Andrew Witty, was the highest paid serving director picking up a total of £3.13 million in basic salary, benefits and bonus.

Dr Moncef Slaoui, who is chair of research and development and a main boardroom member, had a total remuneration package last year of £1.8 million (converted from $) — a 30.6% rise on 2008. The rise in his annual bonus, based on the dollar figures given in the annual report, was 52.8%.

The third executive director, financial officer Julian Heslop, was paid £1.17 million in total last year — a 25.8% increase on 2008. His bonus rose by 44.0% over the last two financial years.

www.gsk.com/investors/annual-reports.htm