Comments on: Pfizer Shareholders Will Get A ‘Say-On-Pay’ Vote http://www.pharmalot.com/2009/10/pfizer-shareholders-will-get-a-say-on-pay-vote/ News, Comment and Conversation Fri, 10 Feb 2012 20:42:36 +0000 http://wordpress.org/?v=2.6.2 By: Eric Milgram http://www.pharmalot.com/2009/10/pfizer-shareholders-will-get-a-say-on-pay-vote/#comment-442636 Eric Milgram Fri, 30 Oct 2009 17:27:48 +0000 http://www.pharmalot.com/?p=19455#comment-442636 Interestingly, one of the "reforms" I have been proposing is to curb executive excesses is to allow shareholders to vote on executive compensation. One of the key lessons I learned from Pfizer, besides the importance of metrics, was to set SMART (specific, measureable, actionable, realistic, and time-bounded) goals. Therefore, I propose that shareholder approval be required in any case where the total value of any Pfizer employee's compensation will exceed an amount equal to the median value of all Pfizer employees. As an example of how absurd pharma exec pay can be, check out <a href="http://blog.pharmaconduct.org/2009/10/would-you-rather-win-lottery-or-be.html?src=pharmalot20091030" rel="nofollow">Would you rather win the lottery or be fired for poor performance?</a>, and you'll have a better understanding of why 80% of survey respondents would rather be a pharma CEO fired for poor performance than to be a winner of the Florida Lotto, which pays out millions. Interestingly, one of the “reforms” I have been proposing is to curb executive excesses is to allow shareholders to vote on executive compensation.

One of the key lessons I learned from Pfizer, besides the importance of metrics, was to set SMART (specific, measureable, actionable, realistic, and time-bounded) goals. Therefore, I propose that shareholder approval be required in any case where the total value of any Pfizer employee’s compensation will exceed an amount equal to the median value of all Pfizer employees.

As an example of how absurd pharma exec pay can be, check out Would you rather win the lottery or be fired for poor performance?, and you’ll have a better understanding of why 80% of survey respondents would rather be a pharma CEO fired for poor performance than to be a winner of the Florida Lotto, which pays out millions.

]]> By: Skeptic http://www.pharmalot.com/2009/10/pfizer-shareholders-will-get-a-say-on-pay-vote/#comment-442610 Skeptic Fri, 30 Oct 2009 14:33:02 +0000 http://www.pharmalot.com/?p=19455#comment-442610 This is a joke! No matter what the shareholders say, the backpocket BOD will overpay their pals! It's the way of big corporate America. This is a joke! No matter what the shareholders say, the backpocket BOD will overpay their pals! It’s the way of big corporate America.

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