You may recall that, three months ago, Bob Essner announced his pending retirement as ceo of the struggling drugmaker. At the time, he also indicated he would remain as chairman for a “transition period” of unspecified length. Well, as it turns out, Bob will remain chairman through December 31, 2008 - and as an employee. A well-paid employee, in fact. He will receive the same $1.73 million salary next year that he received this year.

We know this because Wyeth on Friday afternoon filed a document with the Securities and Exchange Commission (take a look). Bob will also be entitled to a bonus based on his 2008 salary that is “consistent with (his) position,” although his duties are not defined. Nor is his title. Presumably, Bob is now a consultant. We look forward to hearing his ideas and what he will be doing for Wyeth over the next 12 months.