The leaders were quickly ousted, with President Alan Cook heading for the exit, but Hartigan somehow escaped the massacre. He now has a 5 511,000 bonus for his efforts in 2021. The prize was not a maximum jackpot (eg it fell on employee loyalty), but two-thirds is not as bad after a year as LV + had. Yes, as the earnings report makes clear, the agency has achieved its business goals in areas such as capital production and start-up volume, but the crucial figure was certainly the 33 33 million raised by the fruitless “strategic review” it advocated. the Bain sale. Members have exactly nothing to spend on counselors and consultants. On the contrary, under Hartigan, LV = has come full circle. The company was supposed to be strong after selling its general insurance business, ie car and house contracts, to Allianz for 1 1.1 billion. Then, after the strategic review, the conclusion was that “business as usual does not work” and delivery to Bain was the best bet. Now, with a straight face after a year dedicated to promoting mutual insurance, Hartigan says LV = looking forward to becoming part of a “dynamic reciprocal sector”. A more humble CEO would have let the dust settle and accepted that it was not a time to get a bonus. A wiser newcomer council would have given him no choice.
The lion’s portion
Round numbers on stock prices should not matter, but let’s hear about AstraZeneca anyway as the pharmaceutical company closed above £ 100 for the first time on Tuesday. The second largest company in the FTSE 100 index (a mustache behind Shell) has been offering its owners a rewarding ride since it was ousted as ICI’s unpopular descendant (remember?) In 1993. The share price on the split for the original Zeneca was 626 p, so the revaluation of the capital in 29 years is 16 times – call it doubling in value every seven or so years. Very sleek, but also underestimates things. Include the reinvestment of dividends and the pace was actually faster. The merger with the Swedish group Astra took place in 1999 with a share price of £ 29.46, but the most memorable amount is £ 55 in 2014. This was the level of the takeover bid by the American group Pfizer. An AstraZeneca board, then and now led by CEO Pascal Soriot and President Leif Johansson, has created a high-risk defense that has long hoped for recent and unknown cancer treatments. Life could have been different if Pfizer had raised its stake by λί 2, but shareholders have remained loyal and Soriot has kept his promise of revenue: $ 45 billion by 2023 is almost nailed to reach a year earlier . As an example of the investment virtue of supporting long-term winners, AstraZeneca is hard to beat. Johansson is retiring next year. there is a nice gig for someone. Subscribe to the daily Business Today email or follow the Guardian Business on Twitter at @BusinessDesk
In a good location to deal with the storm
Cue also issued a warning that “the impact of a prolonged or escalating conflict on SSE operations is difficult to predict.” Fair point. High and volatile electricity prices also lead to stricter credit and collateral terms, and while the SSE believes it has been well served by the “range of businesses across the energy chain”, clearly nothing is guaranteed. However, one can say this: the idea that the SSE should break up and separate its renewable energy assets from its business into grid-loving networks does not seem even more like a start. Investor activist Elliott Advisors launched the argument last year and fortunately got nowhere. The assumption that the SSE will remain a single entity is stronger than ever: a balance of profits is clearly an advantage in the energy game these days.
