My raise? 2%. Pascal's raise? 68%. Wow, and I thought these were the Enterprise Years.

[anonymous]

Chief Executive Officer Pascal Soriot’s compensation, including salary, bonus, long-term incentives and other benefits, rose 68 percent last year to 13.4 million pounds ($17.3 million).

In spite of managed care losses, I still maintained and slightly grew my Symbicort market share. Based on Pascal's raise, maybe I deserved 3%? *

* sarcasm alert

 

[anonymous]

Chief Executive Officer Pascal Soriot’s compensation, including salary, bonus, long-term incentives and other benefits, rose 68 percent last year to 13.4 million pounds ($17.3 million).

In spite of managed care losses, I still maintained and slightly grew my Symbicort market share. Based on Pascal's raise, maybe I deserved 3%? *

* sarcasm alert

There's something seriously wrong with this company. The CEO's 68% increase amidst layoffs, cut backs for employees, and a decline in revenue says it all.

 

[anonymous]

There's something seriously wrong with this company. The CEO's 68% increase amidst layoffs, cut backs for employees, and a decline in revenue says it all.

 

[anonymous]

Add to that, frenchy's brand new R&D and No. American Palace being built in jolly o'l Cambridge UK is coming in, wait for it....higher than expected!

Just let go some reps to compensate for your SHORT comings Pascal

"CAMBRIDGE, England – As AstraZeneca (AZN) continues to move its operations to the new headquarters in Cambridge, England, the company is running into some delays due to increased expenses on new technology and equipment, Reuters reported this morning."
http://www.biospace.com/news_story.aspx?StoryID=453816&full=1

 

[anonymous]

Wall Street is catching on to Pascal's inability to sustain any sort of future success for AZ. His liquidation tactics of generating revenue and the strategy of cutting costs as a way to meet earnings forecasts are clear examples of poor leadership. Couple that with the embarrassing 68% increase in pay for himself and it is only a matter of time before Pascal is replaced and blamed for the failures of the organization. Am I the only one that cringes when I see AZ in a news headline? It is almost certain it will be an article of failed this, or sold that. I think instead of waiting for my payout it is time to leave and find a more successful environment to be a part of. The misery of this culture and pretending it isn't, is no longer the way I want to spend my every day.

 

[anonymous]

Other companies, like Merck and Vertex cut CEO pay for poor performance, but not AZ.

I hope you all excersized your shareholder rights and voted against the pay package, and to vote out the board of directors that allow this egregious compensation package.

AstraZeneca Shareholders Revolt Against Drug Giant's Pay Report
More stories by David Hellier
by
David Hellier
and
Naomi Kresge
April 27, 2017, 8:35 AM EDT April 27, 2017, 12:53 PM EDT

• Vote on remuneration report isn’t binding for drugmaker
  
  
• Drug group pleased that pay policy comfortably wins approval
  

AstraZeneca Plc suffered one of the largest shareholder rebellions so far this year in the U.K., with 39 percent voting against the drug giant’s pay report.

The vote on the report, which covers pay for last year and existing long-term packages, isn’t binding and doesn’t require the U.K.’s second-largest drugmaker to claw back the money. The proposed compensation policy for future years, which does face a binding vote, didn’t encounter opposition, with 96 percent of shareholders voting in favor.

Still, the shareholder discontent on the pay report underscores broader dissatisfaction in the U.K. about the gap between the pay of top executives and that of ordinary workers, which Prime Minister Theresa May has called “unhealthy.”

“Politically, everybody’s feeling under the spotlight,” said Stefan Stern, director of the nonpartisan High Pay Centre.

government data show.

The government has looked at forcing public companies to publish pay ratios detailing the difference between a CEO’s pay and an average worker at their firm. Some companies, such as Legal & General Group Plc have volunteered the information, but AstraZeneca is one of a number that declined to do so.

“My focus is really on driving the transformation of this company and rebuilding the pipeline,” Soriot said, referring questions on his compensation to the remuneration committee. “Over the next couple of years, we believe a transformation will become more and more evident.”

Starting this year, the so-called AstraZeneca Investment Plan (AZIP) for long-term stock awards to executives is being discontinued, the drugmaker said in March. For shares that have already been granted under this incentive program, AstraZeneca proposes to adopt a sliding scale to assess performance until they are phased out, the spokeswoman said on Thursday.

“The lower level of support for the Remuneration Report is considered to reflect concerns regarding how the AstraZeneca Investment Plan (AZIP) will be operated for the outstanding AZIP awards previously made, and the level of information given about the annual bonus plan and awards,” the company said in a statement announcing the results.

Opposition

 

[anonymous]

Wall Street is catching on to Pascal's inability to sustain any sort of future success for AZ. His liquidation tactics of generating revenue and the strategy of cutting costs as a way to meet earnings forecasts are clear examples of poor leadership. Couple that with the embarrassing 68% increase in pay for himself and it is only a matter of time before Pascal is replaced and blamed for the failures of the organization. Am I the only one that cringes when I see AZ in a news headline? It is almost certain it will be an article of failed this, or sold that. I think instead of waiting for my payout it is time to leave and find a more successful environment to be a part of. The misery of this culture and pretending it isn't, is no longer the way I want to spend my every day.

Like

 

[anonymous]

Wall Street is catching on to Pascal's inability to sustain any sort of future success for AZ. His liquidation tactics of generating revenue and the strategy of cutting costs as a way to meet earnings forecasts are clear examples of poor leadership. Couple that with the embarrassing 68% increase in pay for himself and it is only a matter of time before Pascal is replaced and blamed for the failures of the organization. Am I the only one that cringes when I see AZ in a news headline? It is almost certain it will be an article of failed this, or sold that. I think instead of waiting for my payout it is time to leave and find a more successful environment to be a part of. The misery of this culture and pretending it isn't, is no longer the way I want to spend my every day.

I think you've nailed it.
However, I'm interested in the stock future.
Does he run it down to be sold? Hoping for a big payday on some other company paying a big premium?
Or does he cut a lot of sales jobs to make the company more 'profitable' with out increasing sales?
Like the unnecessary ESS division in diabetes!
Or the ZS9, or whatever they are called!
Or half of respiratory or combine the Brillianta team with ESS or DSS!
I say stock going up over the next year.

 

[anonymous]

My guess (and I have no real expertise in this matter- just an opinion here) is that he will continue to get rid of anything he deems as unprofitable or risky. This includes sales forces, HQ employees, or products. Making the organization lean will be attractive for another company to attempt a buy out. This will run up the stock like it did when Pfizer attempted it, and Pascal will take his stock bonuses and fly away in his golden parachute. This cost cutting strategy makes sense because people and failed products are expensive. The new shiny building that he has spent too much on is at least a tangible real estate investment that he can point to as part of the package deal for someone else to take. Who knows really though, what I do know is that no one that I know is proud to work for this company any more and we are all just hoping either to get a package or praying that some other company comes in and saves us.

 

[anonymous]

Chief Executive Officer Pascal Soriot’s compensation, including salary, bonus, long-term incentives and other benefits, rose 68 percent last year to 13.4 million pounds ($17.3 million).

In spite of managed care losses, I still maintained and slightly grew my Symbicort market share. Based on Pascal's raise, maybe I deserved 3%? *

* sarcasm alert

I got a 1% raise based on my District Sales Manager giving me a 2. That is the first below average rating I have ever received in my pharma career of 15 years.

Why? Crestor and Symbicort were taken off several key managed care plans in my area. Of course, this was totally out of my control, but I still suffered the consequences.

I really wonder sometimes how DSM's sleep at night knowing how they have screwed good employees.

For the most part, it's a sorry, meaningless job.

 

[anonymous]

I got a 1% raise based on my District Sales Manager giving me a 2. That is the first below average rating I have ever received in my pharma career of 15 years.

Why? Crestor and Symbicort were taken off several key managed care plans in my area. Of course, this was totally out of my control, but I still suffered the consequences.

I really wonder sometimes how DSM's sleep at night knowing how they have screwed good employees.

For the most part, it's a sorry, meaningless job.

 

[anonymous]

I got a 1% raise based on my District Sales Manager giving me a 2. That is the first below average rating I have ever received in my pharma career of 15 years.

Why? Crestor and Symbicort were taken off several key managed care plans in my area. Of course, this was totally out of my control, but I still suffered the consequences.

I really wonder sometimes how DSM's sleep at night knowing how they have screwed good employees.

For the most part, it's a sorry, meaningless job.

I'm so glad i was let go last year. I Already found another job making way more with better opportunities. You people really need to get away from AZ. No company is perfect not even the company i am currently at. But it is still way better then being at AZ. Sadly, I had to be forced out to realize this. Don't make the same mistake. There ARE PLENTY of opportunities at more respectable companies. You just have to put the time and effort into the research and got for it.

 

[anonymous]

I got a 1% raise based on my District Sales Manager giving me a 2. That is the first below average rating I have ever received in my pharma career of 15 years.

Why? Crestor and Symbicort were taken off several key managed care plans in my area. Of course, this was totally out of my control, but I still suffered the consequences.

I really wonder sometimes how DSM's sleep at night knowing how they have screwed good employees.

For the most part, it's a sorry, meaningless job.

Sadly, the DSMs, who have no control over ratings, are the ones being kept up at night. They are sick about it. Remember their ranking is also based on team performance and they are being screwed too. Even CBDs have very little control over ratings. It is all about numbers- nothing more. You can do all the extra work you want, have amazing national impact (formerly considered a Level 5 behavior), and be the hardest, smartest worker on your team- it matters very little. It is all about erroneous goals and ever confusing, shifting targets. Unless you are on the line between performance, behaviors mean nothing.

 

[anonymous]

I got a 1% raise based on my District Sales Manager giving me a 2. That is the first below average rating I have ever received in my pharma career of 15 years.

Why? Crestor and Symbicort were taken off several key managed care plans in my area. Of course, this was totally out of my control, but I still suffered the consequences.

I really wonder sometimes how DSM's sleep at night knowing how they have screwed good employees.

For the most part, it's a sorry, meaningless job.

You are so correct!.. On every point... Possibly your manager ... Bliven in Iowa?... Screws every rep

 

[anonymous]

Wow, suddenly I feel better about my 2.5% raise!

 

[anonymous]

That's why you should practice THE ALL DAY LIE each and every day, and 1% raises suddenly become meaningless! Enjoy your time off! You can't put a price on it!

 

[anonymous]

Sadly, the DSMs, who have no control over ratings, are the ones being kept up at night. They are sick about it. Remember their ranking is also based on team performance and they are being screwed too. Even CBDs have very little control over ratings. It is all about numbers- nothing more. You can do all the extra work you want, have amazing national impact (formerly considered a Level 5 behavior), and be the hardest, smartest worker on your team- it matters very little. It is all about erroneous goals and ever confusing, shifting targets. Unless you are on the line between performance, behaviors mean nothing.

I agree with some of your concepts, but I have heard that the DSM's in any given region meet at the end of the fiscal year and give out ratings based on a bell curve of where you ranked on COE. They may feel bad about it, but they don't really take into account managed care wins and losses in your territory. They have to give out x number of 2's.

 

[anonymous]

I think you've nailed it.
However, I'm interested in the stock future.
Does he run it down to be sold? Hoping for a big payday on some other company paying a big premium?
Or does he cut a lot of sales jobs to make the company more 'profitable' with out increasing sales?
Like the unnecessary ESS division in diabetes!
Or the ZS9, or whatever they are called!
Or half of respiratory or combine the Brillianta team with ESS or DSS!
I say stock going up over the next year.

 

[anonymous]

I couldn't agree more. This is a numbers game, and there is something else going on. I follow the stock and have thought the exact same thing. I'm hoping he pulls a rabbit out of the hat....

 

[anonymous]

I agree with some of your concepts, but I have heard that the DSM's in any given region meet at the end of the fiscal year and give out ratings based on a bell curve of where you ranked on COE. They may feel bad about it, but they don't really take into account managed care wins and losses in your territory. They have to give out x number of 2's.

Pretty much spot on. You may see one or two get a "5" out of a region and that is only if they finish top 2-3% for COE. DSM here for many years. The DSM's get on a call or will have a face to face meeting as a group with the CBD. They fight for people (sometimes) in trying to have someone get a "3" when the numbers alone my reflect a "2". It is sad when you have a DSM who knows the market well that a PSS is in (loss of managed care plans for example) but won't make the effort because he/she is more worried about the optics on themselves. To me it shows a lack of leadership. Not a way to build loyalty in a team when a manager doesn't have the back of their reports (again, if the argument would have merit).

After the DSM has that meeting, the CBDs have the same meeting on their DSM's. This occurs in MAPS, scientific affairs, etc...

There is a bell curve and you must have a certain percentage of 1/2's. The meetings can get quite testy. Leadership will say a "2" is OK and based on the letter of the law it really is what many people would/should get. Hogwash! My feeling is 2018 will see more 1's and 2's than we have seen in quite some time. This will help set up future layoffs especially if they don't do one this year. Bevespi isn't close to hitting the number, Teva's Advair equivalent is out and already causing a stir (wait until the real A/B rated generic comes out-YIKES), Onglyza heart failure news is reflecting badly. Byd. Pen continues to get its head handed to it by Trulicity, Farxiga is only being sold as a free med. Not a way to achieve long term growth. New asthma biologic has a ton of hype w/ little real substance. Oncology looks strong. That's about it.

Prepare to be fed a line of BS around ratings. If you get a 2 be concerned. If you get a 1, sorry you are out regardless of past successes.