The last couple of years did not prove to be too pleasant for him

IIPM MANAGEMENT INSTITUTE
McKinnell, with all his considerable executive, political & leadership skills couldn’t do much. The last couple of years did not prove to be too pleasant for him. Investors relentlessly condemned McKinnell for his petulant nature and the huge compensations that he continued to draw during the worst of times for Pfizer – when it was struggling to somehow apply the brakes to its plummeting stock prices (which have dropped by almost 40% since 2001). Realising the need of the hour, the Pfizer board was compelled to replace McKinnell. Publicly, McKinnell did applaud Kindler when he said, “It is time to transition to new leadership to accelerate the company’s transformation. And Kindler inspires confidence and offers vision and a fresh perspective.”

Kindler, 51, a Harvard law school graduate, is associated with Pfizer since 2002 and plays a vital role in Pfizer’s worldwide legal affairs. No doubts, the success in the Lipitor case is his major claim to fame till date. And perhaps, it explains why he was elected as the CEO even though his experience in the pharma sector doesn’t really account for much.

For Complete IIPM Article, Click here

Source :- IIPM Editorial, 2006, Editor - Prof. Arindam Chaudhuri

For More IIPM Info, Click below....
http://famous-blogger.blogspot.com/
http://iipm-growth.blogspot.com/
http://spaces.msn.com/iipm-publications/
http://spaces.msn.com/iipm-editorials/
http://spaces.msn.com/iipm-management/
http://spaces.msn.com/iipm-india-publication/
http://spaces.msn.com/iipm-india-iipm/
http://spaces.msn.com/iipm-business-economics/
http://spaces.msn.com/iipm-mumbai/