Why did Pfizer CEO deserve a raise?
Don Beck Ledyard
Publication: The Day
The juxtaposition of Lee Howard's articles in The Day, "Pfizer CEO gets 12.5% raise from last year's $14.9M," published March 4, and "Pfizer Alzheimer's drug proves ineffective," published Feb. 26, were telling.
Pfizer Chief Executive Officer Jeff Kindler's raise was supported by the "increased complexity of the organization," and Mr. Kindler's role in the $67 billion Wyeth deal (that the Pfizer shareholders continue to finance.)
In the Alzheimer's article, Dimebon - is that pronounced "time bomb?" was described as a failure for Pfizer.
Couple these events with the performance of Pfizer stock: a dividend payout of $1.28 per share in 2008; $0.80 per share in 2009 (after a draconian reduction in the dividend for three quarters) and now in 2010 a change in the dividend to $0.72 per share that will result in a decreased yearly dividend. Is this change you can believe in?
In the meantime, the smaller, less-complex competitors move along with dividends well above $1 per share. Welcome to "Alice in Wonderland."
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Why did Pfizer CEO deserve a raise?
The juxtaposition of Lee Howard's articles in The Day, "Pfizer CEO gets 12.5% raise from last year's $14.9M," published March 4, and "Pfizer Alzheimer's drug proves ineffective," published Feb. 26,...
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