Wednesday, May 23, 2007

PFE CFO Alan Levin, 45, gets est. $8.6 million to leave Pfizer.

According to an SEC filing today, Pfizer CEO Alan Levin, who has "resigned," will receive a cash severance payments of $2.0 million, as well as the other estimated payments and benefits set forth in the table at the bottom of page 73 of the Company’s 2007 Definitive Proxy Statement filed on March 15, 2007.

The table at the bottom of page 73 of the proxy statement provides for an additional $6.6 million, for a total payment of $8.6 million.

The additional $6.6 million payment is provided "Upon Termination Due to Restructuring," according to the proxy statment.

So much for "voluntary resignation."

1 comment:

Anonymous said...

Poor Alan: a mere 0.04 of a McKinnell as a severance package...