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GlaxoSmithKline pharmaceuticals news

March 10, 2014 7:00 AM UTC

GlaxoSmithKline disclosed in its 2013 annual report that it lowered bonuses awarded in 2013 as a result of the ongoing investigation by authorities in China. In the report, Tom de Swaan, chairman of the remuneration committee, said CEO Andrew Witty and the board "are mindful of the impact this issue has had on the reputation of the company." Witty received a bonus of £1.9 million ($3.1 million) or about 177% of his salary for the year. Witty received a bonus of £905,000 ($1.5 million) in 2012, or about 87% of his salary for the year. Witty was eligible to receive up to 200% of his salary in 2013. ...