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AstraZeneca is one of Europe’s leading pharmaceutical companies, primarily focused on oncology, biopharmaceuticals, and rare disease. In 2014, as part of its defence against the Pfizer takeover bid, the company announced an ambitious revenue target.

EOS believed clear succession planning at the CEO and board level was essential to ensure strategy consistency towards the long-term revenue target, as well as the alignment of incentives with long-term revenue targets. Subsequently, Federated Hermes engaged on the robustness and quality of the succession and compensation processes. In April 2024, AstraZeneca became the UK’s largest public company by market capitalisation.

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Stewardship case study: AstraZeneca – Federated Hermes Limited

Federated Hermes Limited's EOS, identified robust succession planning for both the CEO and the chair as integral to the achievement of a long-term strategy.

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