They reportedly fear the pay raise would “tarnish” the pharma giant’s reputation after vowing to deliver COVID-19 vaccines not for a profit during the pandemic.
Shareholder advisory groups ISS, Glass Lewis and Pirc have also recommended to vote against it.
Other funds, instead, told the paper they will vote in favour, which it setting up the stage for controversy.
Over half of the shareholders will have to veto the pay hike for AstraZeneca to reconsider its policy.
“If the board feels there is a real risk of losing Pascal...and so they've got to up the ante, then I'm prepared to trust the board,” Richard Buxton at Jupiter Asset Management told the Mail.