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)...
You may also be interested in...
Kindler’s Honeymoon Over? Analysts Press Pfizer Execs On Series Of Stumbles
The sheen of Pfizer's new management team - including CEO Jeffrey Kindler - may be beginning to wear off, based on analyst comments during Pfizer's April 20 first-quarter earnings call
McKinnell not leaving empty-handed
McKinnell could receive nearly $200 million in severance payments and benefits from the company, according to a Dec. 21 Securities & Exchange Commission filing. The package includes a lump-sum pension payment of $82 milllion, $78 million in deferred compensation, $11.9 million in severance as well as bonus and unused vacation payments and stock options potentially worth nearly $25 million...
US High Court Punts On ‘Objective Falsity’ FCA Standard
Can a false-claims suit be filed if doctors have different opinions about whether a treatment was necessary? The Supreme Court won’t say.
Need a specific report? 1000+ reports available
Buy Reports
Register for our free email digests: