Posted on 08/03/2006 7:38:40 PM PDT by grey_whiskers
In the race to replace Henry A. McKinnell Jr., the embattled CEO of drug giant Pfizer, Jeffrey B. Kindler was the dark horse. Named as McKinnell's successor on July 28, he had no pharmaceutical experience prior to joining Pfizer (PFE) four years ago as general counsel. But for months, the drug industry has been racked with legal, regulatory, and public-relations challenges, with Pfizer right in the thick of it. Against that backdrop, the 51-year-old Kindler—an accomplished lawyer and veteran of McDonalds Corp. (MCD) and General Electric (GE)—brings much to the table.
(Excerpt) Read more at yahoo.businessweek.com ...
As senior counsel at GE in the 1990s, Kindler stood out as a capable litigator who remained cool under fire. In 1994 the Justice Dept. indicted GE on charges that it conspired with diamond seller De Beers to fix prices worldwide. In court, Kindler cross-examined some of the prosecution's witnesses. Six weeks into the trial, the judge threw out the charges—a huge victory for the company and for Kindler."
So he was hired simply because he got another gargantuan worldwide firm out of trouble when it had been caught price-fixing.
You do the math, folks.
Full Disclosure: I have owned Pfizer stock.
Cheers!
sorry 'bout that, I meant Kindler.
Apparently the firm had NOT been "caught at price-fixing" since the charges could not be sustained.
Drug companies probably need shark defense more than anything else since they have lost the battle convincing the American people that they are not pure Evil.
His job is to advise the board and manage the company's legal matters and security.
This one seems like a real butterfly.
No Pfizer for me, I have a headache.
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