Investors turn on CSL, delivering first strike on pay after poor year

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CSL, the country’s largest pharmaceuticals group, has been forced to defend how much it is paying executives after investors delivered a so-called first strike against the remuneration plans following a challenging year.

Chairman Brian McNamee said CSL was in a unique position as one of few major biotech companies listed on the ASX. This meant it needed to compete with bigger rivals in the United States for talent.

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