Thursday, May 22, 2008

Knock knock

Who's there?
JP .
JP who?
That's Big Pharma for you!

Jean-Pierre Garnier's last day as GlaxoSmithKline chief executive was marred by sharp criticism of his tenure at the annual meeting.

Shareholders accused Mr Garnier and his board of underperformance and failing to boost shareholder returns despite billions of pounds of share buybacks.

"I am getting fed up with this underperformance," said shareholder John Farmer to applause. "This board is a continuing failure. You are not a philanthropic organisation; you are here to deliver positive shareholder returns."

More at The Telegraph

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