"In my business, pharmaceuticals, the medicines we build this year will not make it to market for 12 to 15 years. So what is performance? Is it current share price? I don't think so. It's long-term value," Pfizer's CEO Hank McKinnell said, speaking at Stanford University's Directors' College.McKinnell became the target of complaints about excessive executive compensation when Pfizer disclosed a retirement package under which he can he can choose from an annual pension of more than $6.5 million, or a lump sum payment of $83 million. He also earned nearly $16 million in 2005.
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1 comment:
I saved Pfizer's ass in 2002 when I personally took care of eight of twenty-one items on a warning letter for Pfizer... For that effort I got a 3% raise.
If I’d committed to giving a thousand dollars to the Pfizer Political Action Committee that year I could have met Hank, had dinner with him, shaken his hand and had my picture taken with him.
Yes, Pfizer has values.
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