We didn't need to hear a rationale for the ditching of the last marketing officer. We needed a rationale for hiring and allowing him to do what he did. I mean, goodness sake, what a mess!
The stock price
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The DOW, NASDAQ, NYSE all at record highs. PFE is lower than a decade ago. It remains incredible that PFE (plus some bright people at BioNTech) were instrumental in turning the tide of confidence at the height of the pandemic, And yet PFE so quickly squandered momentum, public perception and trust of investors. Truly incompetent. At least AB and his toadies were able to parachute out of options at the top. Time for an FTC investigation and clawback
Ok, here we are one year later and down around 10%. Leadership has had the time to build a post covid strategy, implement changes and build some value into PFE shares. Nada.
Last year (purportedly) AB and some in C suite received no bonus. They were still paid astronomically compared to the average PFE employee and made no impact on company value. It’s far past time for the board to make real changes. Yet another round of options goes in the crapper in just a few weeks. There is no reason for stasis in leadership when performance is this poor.
Last year (purportedly) AB and some in C suite received no bonus. They were still paid astronomically compared to the average PFE employee and made no impact on company value. It’s far past time for the board to make real changes. Yet another round of options goes in the crapper in just a few weeks. There is no reason for stasis in leadership when performance is this poor.
I dont think that you've been here very long. This is how we do!
It appears the company makes money by accident. Just an investment firm that dabbles in pharmaceuticals.
So much money has been shoveled into R and D that you would expect more successful compounds. Nope…company has to go into the open market and co-promote products…OR the tried and true strategy of overpaying for other companies. Wash…rinse…repeat
TSRU's once worth 90X what they are now worth....what a scam LTI long term idiocy
Why do you stay? for what LTI? curious, I was laid off and am already newly employed. Pfizer Sucks for employees.
AB at the JP Morgan Healthcare Conference:
“So, a year ago in the same stage, you and me, we're sitting here and I expressed my dissatisfaction and my disappointment for Pfizer's performance in 2023. And then also I articulated the plan that we have built with five priorities that I projected on the screen that we are going to execute so that we can turn around the situation. A year later, in the same stage, I'm very pleased that all the goals that we had set in all five priorities were achieved and exceeded in most of the cases.
I remind you the five priorities that was about oncology, and particularly Seagen, that was a major, for us, acquisition. It was about turning around our commercial engine. It was -- and maximizing the new products. It was about reducing the cost, and we announced that we're going to take $4 billion out of our cost. It was about pushing our pipeline, and, of course, it was about capital allocation that will be shareholder-friendly. We achieved all of that, and, at the same time, I think, we did significant transformative changes in Pfizer”
That’s AB’s point of view. For Wall Street the point of view is negative 1.46% today and flat to negative for the one year period. If this knucklehead this this is progress, we need to replace him plus many others in c-suite + board who are “shareholder friendly”. What a moron
“So, a year ago in the same stage, you and me, we're sitting here and I expressed my dissatisfaction and my disappointment for Pfizer's performance in 2023. And then also I articulated the plan that we have built with five priorities that I projected on the screen that we are going to execute so that we can turn around the situation. A year later, in the same stage, I'm very pleased that all the goals that we had set in all five priorities were achieved and exceeded in most of the cases.
I remind you the five priorities that was about oncology, and particularly Seagen, that was a major, for us, acquisition. It was about turning around our commercial engine. It was -- and maximizing the new products. It was about reducing the cost, and we announced that we're going to take $4 billion out of our cost. It was about pushing our pipeline, and, of course, it was about capital allocation that will be shareholder-friendly. We achieved all of that, and, at the same time, I think, we did significant transformative changes in Pfizer”
That’s AB’s point of view. For Wall Street the point of view is negative 1.46% today and flat to negative for the one year period. If this knucklehead this this is progress, we need to replace him plus many others in c-suite + board who are “shareholder friendly”. What a moron
This is from a recent Senator article and interview with AB at Davos.
AB is a complete narcissist. White glove aides cleaning before his arrival. No accountability for the precipitous decline after the covid windfall. His lists of “accomplishments” that have produced no value to PFE. Responding to morale issues by launching a cost reduction plan that jettisons employees. His narcissistic plan is to continue executing a plan that hasn’t worked. Incompetent and foolish.
“Five years from the first COVID-19 outbreak in Wuhan, a white-gloved aide was sanitizing the door handles in Pfizer’s Davos base before its CEO walked in. The vaccines Operation Warp Speed funded when a rampant coronavirus had made such practices commonplace “saved the whole world and the whole economy,” Bourla says.
For a moment, he and his employees were heroes. “We received a lot of love — myself, more than I deserved,” he recalls. That did not last. Nor did the market rally propelled by its windfall from vaccine sales. Pfizer’s stock more than doubled between the start of the pandemic and the end of 2021, but then it began a slide that cut Pfizer’s market value in half.
The sudden reversal of fortune angered investors and created “very big” morale issues among employees. In those circumstances, he says, “You can’t just tell people, ‘Well, don’t worry.’ You need to tell them, ‘Don’t worry, because we developed a plan.’”
Bourla cut $4 billion of costs, and made a series of management and board changes, all while integrating Seagen, a $43 billion acquisition. Despite that, the activist investor Starboard took a $1 billion stake last year and accused Pfizer of destroying $20 billion of value. Starboard’s salvo was clumsily launched, and Bourla quickly dismissed its vague call for him to do “something different.” He says their recent meetings have been productive, but adds, “I feel supported by my board, and I feel that my plan is working, so I will continue executing it.””
AB is a complete narcissist. White glove aides cleaning before his arrival. No accountability for the precipitous decline after the covid windfall. His lists of “accomplishments” that have produced no value to PFE. Responding to morale issues by launching a cost reduction plan that jettisons employees. His narcissistic plan is to continue executing a plan that hasn’t worked. Incompetent and foolish.
“Five years from the first COVID-19 outbreak in Wuhan, a white-gloved aide was sanitizing the door handles in Pfizer’s Davos base before its CEO walked in. The vaccines Operation Warp Speed funded when a rampant coronavirus had made such practices commonplace “saved the whole world and the whole economy,” Bourla says.
For a moment, he and his employees were heroes. “We received a lot of love — myself, more than I deserved,” he recalls. That did not last. Nor did the market rally propelled by its windfall from vaccine sales. Pfizer’s stock more than doubled between the start of the pandemic and the end of 2021, but then it began a slide that cut Pfizer’s market value in half.
The sudden reversal of fortune angered investors and created “very big” morale issues among employees. In those circumstances, he says, “You can’t just tell people, ‘Well, don’t worry.’ You need to tell them, ‘Don’t worry, because we developed a plan.’”
Bourla cut $4 billion of costs, and made a series of management and board changes, all while integrating Seagen, a $43 billion acquisition. Despite that, the activist investor Starboard took a $1 billion stake last year and accused Pfizer of destroying $20 billion of value. Starboard’s salvo was clumsily launched, and Bourla quickly dismissed its vague call for him to do “something different.” He says their recent meetings have been productive, but adds, “I feel supported by my board, and I feel that my plan is working, so I will continue executing it.””
We are about a month away from the 2015 options being worthless. That is 10 years of crappy performance and leadership that produced no long term value or incentive.
I hold myself accountable for not exercising all above water options when AB and his ilk dumped theirs in 2021-22. I fell for their pump and didn’t follow their dump. My fault for missing the signals.
I do hold them accountable for knowing what the real state of the covid products lifecycle would be and clearly missing the targets. They banked generational wealth and let employees + investors lose half the value.
It’s unclear what Starboard Investors now plans. Looks like they have abandoned the idea of nominating directors in a proxy fight. They hold $1B in PFE since last October. They, like the rest of stock holders, have lost around 10% since then. hope they get active again soon, I don’t think they bought in for the dividends!
we just need to give Albert a little more time to come up with Moonshot 2!!
TSRUs are the worst! No other top Pharma issues them. The other companies are 100% shares, where at least you can realize value. Pfizer is pitiful in actual value realized for LTIs. That is why so many are leaving.