February this year I started criticizing the robber baron sized $80 million pension package donated to former Pfizer CEO, Hank McKinnell. And the fact that he was paid like royalty, while his shareholders were in pain, with Pfizer's stock dropping 40% during his reign.
Six months later he was gone.
On August 17 I wrote a post called Bye, bye Peter Dolan, hello Karen Katen??? suggesting it may be time for Bristol-Myers CEO Peter Dolan to leave his office.
Today, the New York Times tells us that the independent court monitor (something really bad companies that have committed lots of crimes get to have) has told the Bristol-Myers board that Dolan has to go.
What I don't get is why all those boards don't simply hire me, and I can tell them what to do way before they have any idea what they will actually do? Imagine the money and pain saved.
:)
1 comment:
Uh, Peter...the boards are as big of a problem as guys like Dolan are. They're committed to incestuous financial relationships and not objective financial performance. Rule#1 of corporate boards is "scratch my back and i'll be certain to scratch yours".
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