Pascal's "big experiment" aka total company shakeup

http://mobile.reuters.com/article/idUSKCN0Y90LS

Most interesting quote from him in this article "In the past, we've had too much stability...
"We had people who never moved and turnover of 1 or 2 percent. That might sound good but it's actually not, because you don't have new ideas flowing through the place."

It's sad but true. No one ever leaves this company unless they're forced too!

 

So according to Pepé Le Pew Stability is not a good thing? Here, all these years I thought it was. I'm confused.

 

"while shrinking its operations to focus on core areas like cancer, respiratory and cardiovascular disease."

Diabetes? No mention in this article. Other threads on CP point to selling off that "experiment".

Do you want to be part of the mad scientists experiment?

 

We're done when PePe spends a few months in USA. Cuts and divestments will be non stop.

 

Most interesting quote from this article:

"But Soriot aims to push selling, general and administrative expenses down to 30-32 percent from 35 percent."

3 to 5% reduction, oh my!

 

Absolutely correct. For those so "lucky" to remain, get ready for more anxiety,more stress,more "do this today,do something different tomorrow".

Picture a new CEO in the US (pascal) cleaning house even more, the longer the visit is.
"You got retained, so thank me. You'd better put more into your job than ever before to save yourself from cuts next go around"

 

And if you cooperate and don't whine, I might let you lick the sweat off my balls...French CEO

 

Most interesting quote from the article:

"that sales would rise by three-quarters to $45 billion by 2023 - a hostage to fortune, perhaps, but a target Soriot remains confident will be met.

"I might not be here to see if we achieve that in 2023..."

Ahh, making promises that you don't have to keep? Those poor shareholders bought it though.

 

Yes, take the money and run.

 

Sure, like AZ will be around in 2023. We will be lucky to last 2 more years.

 

Pfizer will come in at a much lower bid and the shareholders will jump at the opportunity.

 

Actually, it is 3 - 5 percentage points, not 3 - 5 percent. BIG difference.

 

Correct, -5% from the 33% cost line is a -15% reduction in current costs. That is a huge cut in sales line costs and won't get done with cutting a few hundred head.