Pharmakon President gets canned

Discussion in 'PDI Shared' started by Anonymous, Feb 24, 2011 at 8:47 PM.

  1. Anonymous

    Anonymous Guest

    Just heard that the Pharmakpon President HD got fired. I thought that the division was doing well for PDI...guess I was wrong. Anyone know about this? That guy has bounced around from company to company in the Med Ed business.
     
  2. Anonymous

    Anonymous Guest

    Don't know much about him but the whole Med Ed and meetings sector has taken a hit in the last 3-4 years. Pharma Companies not using or needing services like Pharmakon as a way of cutting back.
     
  3. Anonymous

    Anonymous Guest

    Just proof that high paid executives do not enjoy the protection that is claimed by some.
     
  4. Anonymous

    Anonymous Guest

    So, you think he got a phone call in the morning telling him to stay home, that his job was done??

    You think he got an severance?? Golden Parachute??

    Probably left with big check, and lots of letters of rec. singing his praises, assuring that he will land again in the land of good and plenty!!
     
  5. Anonymous

    Anonymous Guest

    No. He got treated the same as any other executive with the type of contract they are given for their position. His severance was probably spelled out clearly before he officially accepted the job. If there was a golden parachute it was because he had to be offered incentive so that he would accept the risk of being a president for that part of this company instead of trying to market himself to others where he possible would have had more job security. Quit trying to make it look like people in his position have it so great compared to you in ways other than income. The truth of the matter is that for him to find a position equal to what he just lost will take up to 5 or 6 times as long as it would for us at our level. This could translate into over two years. If you do not believe me, ask a recruiter in the executive placement industry where I worked for some time. The buyout he got will be just as difficult for his family to stretch as it will be for ours in a similar situation. The only difference is, there are a lot fewer jobs at that level with more competition and he may never get one that is equivalent again.
     
  6. Anonymous

    Anonymous Guest

    He got a position as President of ESSRx, a company that he was doing business with here with pharmakon. They supplied all of our A/V and webcasts/symposias. If you look, the guy made $340,957 in compensation last year. Way too much in helping take our division down. He also did the same thing at his previous company, Arista. We have hired someone to help us "reorganize" but it won't do any good because the business that we do primarily )medical meetings) has been going doen th etubes for years as Pharmas do it themselves now.
     
  7. Anonymous

    Anonymous Guest

    That is because very few companies want to spend the bucks on medical meetings that they used to. They are cutting back in sales forces and extra effort type promotions like these. It was not necessarily your presidents fault.
     
  8. Anonymous

    Anonymous Guest

    True. I am surprised that our division is still in business to be honest
     
  9. Anonymous

    Anonymous Guest

    Although a year late you do not have your facts correct. HD president of Pharmakon did not get canned, he resigned. He never worked for Arista, he was responsible for 90+% of all sales that were generated by Pharmakon and never recevied any support from PDI. If it wasn't for him the Pharmakon division would have folded much sooner. This is eveident as it was sold by PDI one year after he left and the sales tanked! This guy spent almost 15 years with Pharmakon.

    He left when it was clear that things were not going to improve!
     
  10. Anonymous

    Anonymous Guest

    It is well known that the angle of the dangle means everything in this business. Ask any successful CEO and also the unsuccessful. Those at 45 degrees straight on do the best. A tilt to the left or right by more than 10 degrees usually spells doom until the condition is rectified. Some cannot be rectified and those folks usually retire in doom and gloom as they are destined to be eunuchs. The others will succeed and go onto greener pastures . . . generaly rubbing elbows with the sheep, goats and a few heffers along the way.
     
  11. Anonymous

    Anonymous Guest

    Thank you HD for clarifying. You would not have left on ypur own making what you were. Now that we were sold again, everyone is looking for a job
     
  12. Anonymous

    Anonymous Guest

    Shameless & egocentric move by HD. He let his ego get in the way & in turn screwed folks that had worked & supported him for over ten years. His claim that he pullled through 90% of the business is hugely misinterpreted & inflated. Karma will prevail.
     

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