Pfizer opening to investor input

Executive Summary

Pfizer is taking further steps to increase transparency and allay investors' concerns about executive compensation; the company's board will meet with the largest institutional shareholders this fall to discuss its governance and compensation policies. Investors had grown frustrated with former CEO Hank McKinnell, and Pfizer's performance, which was exacerbated by McKinnell's severance package of nearly $200 million (1"The Pink Sheet" Jan. 1, 2007, In Brief). Despite taking the firm in a new direction with a major restructuring, patience with CEO Jeffrey Kindler may already be waning (2"The Pink Sheet" April 30, 2007, p. 6)...