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TOKYO, May 10, 2019 - Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, Ph.D. “the Company”) announced that at a meeting of the Board of Directors held today a resolution was passed to submit to the 14th Term Annual Shareholders Meeting of the Company scheduled for June 18, 2019 (“Annual Shareholders Meeting”) proposals for determining amounts of remuneration for Directors (excluding Directors who are Audit & Supervisory Committee Members), and for providing remuneration through a stock compensation scheme.
The Company has set the above remuneration amounts after referencing remuneration levels at other Japanese companies and at pharmaceutical companies overseas while also considering the responsibilities of its Directors, the number of Directors allowed under the Articles of Incorporation, and general conditions including the economy.
If these proposals are approved as originally proposed at the Annual Shareholders Meeting, the Company plans to revise its remuneration system so that it places a stronger emphasis on increasing enterprise and shareholder value over the medium- to long-term and promotes shared interest with shareholders.
Matters concerning setting of respective remuneration amounts and revision of the remuneration system have been determined by resolution of the Board of Directors, taking into consideration results of deliberation in the Compensation Committee (of which the majority of members are outside Directors and the chair is an outside Director).
Refer to the attached reference material for specific details regarding the background pertaining to revision of the remuneration system, and regarding policies and procedures on determining remunerations for Directors.
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