The Committee on Energy and Commerce is going after Pfizer CEO Jeff Kindler in a strongly worded letter.
Showing posts with label Jeff Kindler. Show all posts
Showing posts with label Jeff Kindler. Show all posts
Friday, May 23, 2008
The House Energy and Commerce Committee goes after Jeff Kindler in strongly worded letter.
The Committee on Energy and Commerce is going after Pfizer CEO Jeff Kindler in a strongly worded letter.
Friday, March 16, 2007
Open letter to Pfizer's CEO
Dear Jeff,
You made $11 million last year, you just fired 10,000 employees, and you got a 36% raise this year.
And that's the problem.
You can't cut back and fire ten thousand hardworking people, and tell them about the new management style you're bringing to the company, and then accept a 36% raise in base pay.
That makes you lose credibility. (And I'm not even taking into account how you fell flat on your face, trying to hype torcetrapib.)
Your predecessor was shipped out of Pfizer dressed in tar and feathers, holding his $200 million grab bag, to the sound of employees and shareholders chanting "Give it back, Hank." The WSJ even wrote an article with the headline "Off with their heads," based on Pfizer's executive pay for non-performance.
If you read what your employees are saying, such as this, you will realize you just lost their respect; they've stopped calling you Kindler and replaced that with Swindler.
And without those employees and their support, you are just one man, putting his legs into his pants, one at a time, like the rest of us.
Without the support of your employees, you will fail, just like your predecessor.
Jeff, please act like a leader: Don't accept the raise.
You already made $11.4 million in 2006. You can afford to do the right thing.
Best regards,
Peter Rost
You made $11 million last year, you just fired 10,000 employees, and you got a 36% raise this year.
And that's the problem.
You can't cut back and fire ten thousand hardworking people, and tell them about the new management style you're bringing to the company, and then accept a 36% raise in base pay.
That makes you lose credibility. (And I'm not even taking into account how you fell flat on your face, trying to hype torcetrapib.)
Your predecessor was shipped out of Pfizer dressed in tar and feathers, holding his $200 million grab bag, to the sound of employees and shareholders chanting "Give it back, Hank." The WSJ even wrote an article with the headline "Off with their heads," based on Pfizer's executive pay for non-performance.
If you read what your employees are saying, such as this, you will realize you just lost their respect; they've stopped calling you Kindler and replaced that with Swindler.
And without those employees and their support, you are just one man, putting his legs into his pants, one at a time, like the rest of us.
Without the support of your employees, you will fail, just like your predecessor.
Jeff, please act like a leader: Don't accept the raise.
You already made $11.4 million in 2006. You can afford to do the right thing.
Best regards,
Peter Rost
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