Pfizer Inc: Who, Where, How Much?

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Pfizer Inc


Who, Where, How Much?

 

Ownership

 

Pfizer Inc.

235 East 42nd Street

New York NY 10017

Tel: (212) 573-2323

Fax: (212) 573-7851

www.pfizer.com/main.html

Board of Directors
After Pfizer and Warner-Lambert merged in 2000 some changes were being made.

Eight independent directors from Warner-Lambert's Board were invited to join Pfizer's Board. On April the 26th (2001) the board of directors of Pfizer elected Henry A. McKinnell chairman, effective May 1, 2001. McKinnell succeeds William C. Steere, Jr., as chairman. In August of 2000, Mr. Steere announced his intention to retire following the April 2001 shareholder meeting.

The board also elected as directors, with three-year terms ending in 2004, Mr. Steere, Dr. McKinnell, Mr. Robert N. Burt, Mr. W. Don Cornwell, Mr. Dana G. Mead and Dr. Ruth J. Simmons [7].

Henry A. McKinnell (59)

Henry A. McKinnell, Ph.D., is chairman of the board and chief executive officer of Pfizer Inc. He assumed his current position in May 2001.

McKinnell joined Pfizer in 1971 in Tokyo. Over the years, he held positions of increasing responsibility for Pfizer subsidiaries around the world. He serviced, for example, as president of Pfizer Asia, based in Hong Kong. He has also served as Pfizer’s president and chief operating officer, executive vice president, chief financial officer, and president of Pfizer’s Medical Technology Group.

McKinnell is a member of the Board of Directors of Moody’s Corporation and John Wiley & Sons. He is currently chairman of the Pharmaceutical Research and Manufacturers of America (PhRMA). Additionally, he is a member of the Board of Directors of the Business Roundtable (BRT), vice chairman of the BRT’s Corporate Government Task Force, and chairman of its SEC subcommittee.

McKinnell is also a director of the Trilateral Commission, the Business Council, and the Stanford University Graduate School of Business Advisory Council. He is chairman emeritus of the Business-Higher Education Forum (B-HEF) and a member of the Boards of Trustees of the New York City Public Library, the New York City Police Foundation, and the Economic Club of New York [8].

Compensation fiscal year 2000 (stock options –value $ 66,479,427- not included!) &nbsp
Salary: $984,100
Bonus: $1,426,900
Other Comp: $42,079
Short term compensation: $2,453,079
Long Term Incentive Payout: $4,930,892
Other Long Term Comp: $1,491,910
Total Comp: $8,875,881

Mr. William Steere (65)

Steere began his career with Pfizer in 1959 as a medical service representative. After moving through sales management and domestic product management, he became director of marketing for Pfizer Latin America in 1969. In 1972, he returned as vice president-general manager of Roerig, a division of Pfizer Pharmaceuticals. He was promoted to vice president and general management for Pfizer Laboratories in 1980, became a corporate vice president of Pfizer Inc. in 1983, and was named president of Pfizer Pharmaceuticals Group in 1986. He was elected president and chief executive officer in February 1991 and chairman in March 1992.

Among his civic and professional activities, Steere is chairman-elect of the Pharmaceutical Manufacturers Association (PhRMA) and a director of the New York Botanical Garden, the Connecticut Mutual Life Insurance Co., the U.S Council for International Business (USCIB), WNET-Thirteen, the Business Council, The Business Roundtable (BRT), Texaco, and the New York Academy of Science.

W. Don Cornwell (54)

Mr. Cornwell has been Chairman of the Board and Chief Executive Officer of Granite Broadcasting Corporation, a group broadcasting company, since 1988. He is also director of CVS Corporation, a director of Hershey Trust Company, Milton Hershey School and the Telecommunications Development Fund and a Trustee of Big Brothers/Sisters of New York. He has been a director of Pfizer since February 1997 and is a member of the Audit Committee.

Dana G. Mead, Ph.D. (66)

Dana G. Mead is retired Chairman and Chief Executive Officer of Tenneco, Inc. He was Chairman and Chief Executive Officer of Tenneco, Inc. from 1994 to 1999. He was also Chairman of two of the successor companies of the Tenneco conglomerate, Tenneco Automotive Inc. and Pactiv Corporation, global manufacturing companies with operations in automotive parts and packaging, from November 1999 to March 2000. He was Director of Zurich Financial Services, TaskPoint.com, the Centre for Creative Leadership and the Logistics Management Institute. Mr. Mead is a member of the Massachusetts Institute of Technology Corporation and a Lifetime Trustee of the Association of Graduates, U.S. Military Academy, West Point. He is also the former Chairman of both the Business Roundtable and the National Association of Manufacturers and Director since January 1998. Finally, Mead is a member of the Executive Compensation Committee [9].

Ruth J. Simmons, Ph.D.
Ms. Simmons has been President of Smith College, a private liberal arts college for women located in Northampton, Massachusetts, since 1995. She was Vice Provost of Princeton University from 1992 to 1995, and Provost of Spelman College from 1990 to 1991. Simmons is director of Metropolitan Life Insurance Company, Texas Instruments Inc. and The Goldman Sachs Group, Inc., trustee of the Carnegie Corporation of New York, and member of The Conference Board. She is a Fellow of the American Academy of Arts and Sciences and Member of the Council on Foreign Relations. She has been director of Pfizer since January 1997 and is a member of the Audit Committee [10].

For the other members of the board of directors check the Pfizer Annual Report 2000, at: www.pfizer.com/pfizerinc/investing/annual/2000/index.html
(source: Pfizer)

Ms Karen Katen is president of the Pfizer Pharmaceuticals Group and executive vice president of Pfizer Inc., overseeing the company’s global world-wide pharmaceutical organization.

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Pfizer’s major shareholders
None

Pfizer's shareholders own about 61% of the newly formed (2000) company on a fully diluted basis and Warner-Lambert shareholders own 39%.
Organizational Structure/Subsidiaries:

• Pfizer Inc is organised into divisions and groups according to their products and/or their functions (see: www.pfizer.com/main.html).

Pfizer Pharmaceuticals Group?bringing prescription medicines to the public

Pfizer Global Research and Development?conducting research

Pfizer Animal Health Group?producing pharmaceuticals and vaccines for animals and livestock

Warner-Lambert Consumer Group?responsible for non-prescription medicines, health-care products and other consumer products

Pfizer Global Manufacturing?a supply organization, ultimately responsible for all Pfizer’s products

• In less detail Pfizer’s structure can be divided in two business segments: Pharmaceuticals and Consumer Products.

The Pharmaceuticals Segment includes the Animal Health Group and the Consumer Healthcare Division, as well as Capsugel, a producer of two-piece capsules used in manufacturing prescription and over-the-counter pharmaceuticals and nutritional supplements.

The Consumer Products Segment includes the Adams Division, which markets a broad range of confectionery products.

• The following web site provides links to Pfizer’s worldwide locations:

www.pfizer.com/locations/worldwidelocations.html (source: Pfizer)

• Hoover provides links to the following company web sites for Pfizer’s subsidiaries/divisions/affiliates: [11]

Animal Health Group

Pfizer Austria

Pfizer Canada

Pfizer Denmark

Pfizer Europe

Pfizer Global Research and Development

Pfizer Ireland

Pfizer Italy

Pfizer Japan

Pfizer Malaysia - Singapore

Pfizer Pharmaceuticals Group

Pfizer Spain

Pfizer Sweden

Pfizer Taiwan

Pfizer Turkey

Warner-Lambert Consumer Group

• At the following web site you can find links to most of Pfizer’s brands, as well as links to most of the company’s subsidiaries around the world: www.mind-advertising.com/us/pfizer_us.htm
(source: Mind Advertising Profiles, date viewed: 02/10/01)

Pfizer’s subsidiaries based in the UK [12]

Pfizer Group Ltd & Pfizer Ltd

Address: Ramsgate Road

Sandwich

Kent CT 13 9NJ

Tel: 01304-616161

Fax: 01304-656221

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References
[7] Pfizer Press Release, 26 May 2001, ‘Pfizer Board Elects Henry McKinnell Chairman’, www.pfizer.com/pfizerinc/about/releasefrm.html (source: Pfizer, date viewed: 02/10/01)

[8]www.business.com/directory/pharmaceuticals/pfizer/people/mckinnell,_henry_a/ (source: Business.com, date viewed: 09/9/01)

[9] www.business.com/directory/pharmaceuticals/pfizer/people/mead,_dana_g/

(source: Business.com, date viewed: 09/9/01)

[10] www.business.com/directory/pharmaceuticals/pfizer/people/simmons,_ruth_j/ (source: Business.com, date viewed: 09/9/01)

[11] www.hoovers.com/de/co/capsule/5/0,3575,11175,00.html (source: Hoover online, date viewed: 02/10/01)

[12] Dun & Bradstreet –Key British Enterprises- 2001

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