A leading investor watchdog has called on shareholders to reject a performance-related share package for Jean-Pierre Garnier, the former chief executive of GlaxoSmithKline, which extends 18 months beyond his departure.

Pensions Investment Research Consultants described a 2007 performance share scheme as “inappropriate” which could see Mr Garnier receive up to £7m when it concludes next year, even though he stepped down last spring.