17 July 2012 - AstraZeneca, a UK-based pharmaceutical and biologics company, reported today that it has informed its former chief executive that his share bonuses for 2011 and 2012 are to be forfeited from his retirement settlement.

David Brennan announced earlier this year that he would step down from his executive role, at the same time that a reduction of 26% was announced in the company's first quarter profit figures. His resignation came after a period of sustained shareholder pressure regarding the company's poor performance.

AZ has informed Brennan that he must give up share awards valued at around GBP4.3m that he was due under company-based performance and investment plans. He has voluntarily opted out of a further bonus.

The former chief executive will still be in line for share awards from 2010, worth in the region of GBP1.5m.