Personal tools
You are here: Home Knowledge Base Psychiatric Drug Industry Psychiatric drug maker gives record pay-off
Look inside...
 

Psychiatric drug maker gives record pay-off

— filed under:

Pfizer manufacturers the psychiatric drug Zoloft, and announced they were giving a record "golden parachute" to their top executive Hank McKinnell.

http://www.newratings.com/analyst_news/article_1448247.html

Pfizer departing CEO to receive record compensation


Saturday, December 23, 2006 9:08:48 AM ET
from: newratings.com

NEW YORK, December 22 (newratings.com) – Pfizer Inc (PFE.NYS), the world’s largest drugmaker, Thursday said in a regulatory filing that its outgoing CEO, Hank McKinnell, would receive nearly $198 million in total compensation.

The company, in its recent regulatory filing with the SEC, said that McKinnell will receive $12 million in severance payments, a $2 million pro-rated bonus for 2006, $6 million in restricted stock payments and $18 million in other stock payments. The compensation package includes an estimated $82.3 million in pension benefits and $77.9 million in deferred compensation. McKinnell has been succeeded by Jeffrey Kindler as Pfizer’s new Chairman and CEO. McKinnell is to exit the board of directors in February. The company’s share price had declined by nearly 40% during McKinnell’s tenure as Chairman.

Document Actions
Donate Now

Give securely online and indicate if you have a preferred campaign that you'd like to support with your donation!

We are MFI



Lynne Salvi, psychiatric survivor

Lynne M. Salvi [1963 - 2011] was an activist with MindFreedom Lane County. She experienced 24 years of human rights violations in the mental health system. Lynne said, "Since finding MindFreedom and becoming a member, my life changed dramatically. I found many people who understand through experience without words. MindFreedom feels like a reunion of family I never knew before. This connection and encouragement give me the courage to speak out. I am grateful to find myself using those painful experiences to help others. Today I am medication-free and psychiatrist-free for the first time." See "Related Content" below for writing by Lynne.
Sign Up Today!





Social and Email Marketing by VerticalResponse
Facebook Like Box