2003-05-20
... ? Guardian Unlimited | Special reports | Rebels humiliate GlaxoShareholder activists scored an extraordinary victory against spiralling executive pay yesterday, voting down a plan by GlaxoSmithKline, Britain's biggest drug manufacturer, to give chief executive Jean-Pierre Garnier £22m if he were to lose his job. Almost 51% of shareholders who voted rejected GSK's remuneration report at yesterday's acrimonious annual general meeting at the Queen Elizabeth conference centre in London. Shareholders, large and small, united to deal a humiliating blow to Britain's third largest company and mount a rebellion even larger than had been predicted by corporate activists.
