• 2 months ago
Activist investor Starboard Value accused Pfizer of pressuring its former CEO Ian Read and ex-CFO Frank D’Amelio to halt support for Starboard’s turnaround campaign. Starboard’s Jeff Smith revealed the company allegedly threatened to claw back compensation and cancel unvested shares. Smith urged Pfizer’s board to investigate, calling the actions unethical and breaching fiduciary duties. Starboard claims that Bourla’s leadership hurt Pfizer's with its cost management structure and focus on mergers and acquisitions.

Category

🗞
News
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Activist-investor Starboard Value accused Pfizer of pressuring its former CEO Ian Reid
00:07and ex-CFO Frank D'Amelio to halt support for Starboard's turnaround campaign.
00:13Starboard's Jeff Smith revealed the company allegedly threatened to claw back compensation
00:17and cancel unvested shares.
00:19Smith urged Pfizer's board to investigate calling the actions unethical and breaching
00:23fiduciary duties.
00:25Starboard claims that Borla's leadership hurt Pfizer's with its cost management structure
00:29and focus on mergers and acquisitions.
00:32For all things money, visit Benzinga.com.

Recommended

0:41
I
Up next
Pfizer Beats Q3 Forecasts, Raises Guidance As Activist Investor Calls For Change
Benzinga
0:48
Activist Investor Starboard Takes $1 Billion Stake In Pfizer As The Pharmaceutical Faces Criticism Over Costly Acquisitions
Benzinga
0:36
Southwest Airlines Adopts Poison Pill Plan to Thwart Activist Investor Elliot Management
Benzinga
0:45
Illumina CEO Resigns After Pressure from Activist Investor Carl Icahn
Benzinga
0:41
Southwest Airlines' Leadership Under Fire as Elliott Management Takes $1.9 Billion Stake
Benzinga
0:47
Activist Investor Carl Icahn's Pick Joins Illumina Board
Benzinga
0:36
Ford, Lowe’s, and Harley-Davidson Scale Back DEI Under Activist Pressure. This Conservative Activist Is Leading the Movement with His Startling Exposés
Benzinga
1:04
Jim Cramer Sees Eli Lilly As More Than A 'One-Trick Pony' After FDA Advisors Back Its Alzheimer's Drug: 'It's Ultimately Headed To A Trillion Dollar Valuation'
Benzinga
0:37
Southwest Airlines COO Warns Employees of Upcoming 'Difficult Decisions,' Facing Pressure from Elliot Investment
Benzinga
0:38
Intel CEO Pat Gelsinger After Contentious Board Meeting, Highlighting Struggles Against Nvidia
Benzinga
0:33
Southwest Airlines Exec Chair and CEO Gary Kelly Buckles to Pressure from Activist Investor Elliot, Spurring Board Shakeup and Leadership Changes
Benzinga
0:36
Southwest Airlines Faces Proxy Fight: Activist Investor Elliot Management Calls for Special Meeting and Ousting the CEO and Chairman
Benzinga
2:40
Jim Cramer: Pfizer Should Buy Biohaven
The Street
2:24
Biggest Pharmaceuticals Mergers And Acquisition in History
The Street
0:47
Spirit Airlines CEO Gets $3.8 Million Bonus 1 Week Before Company Files Bankruptcy
Benzinga
0:43
Stellantis CEO Tavares Resigns After Criticism Over Aggressive Cost-Cutting, U.S. Market Missteps
Benzinga
0:37
Carl Icahn's Investment Firm Wins Dismissal of Stock Inflation Lawsuit
Benzinga
0:35
Activist Investor Politan Capital Ousts CEO and Founder of Medical Tech Company Masimo, Securing Two Board Seas Following Heated Battle
Benzinga
1:05
Pfizer Earnings - What Jim Cramer Wants to Hear From the FDA
The Street
0:50
Disney Shareholder Showdown: CEO Iger Clashes with Investor Peltz over Board Seats
Benzinga
0:38
Berkshire Hathaway's Warren Buffett Offers Advice to Investors: Patience and Long-Term Gains Over Pundit Predictions
Benzinga
0:45
Ozy Media, CEO Charged With Fraud
Benzinga
0:42
'It's Morning In America Again.' Tech Leaders Celebrate Trump Election Victory. Investor's Predict 'Obscene' Profit Surge.
Benzinga
33:01
Entrepreneur Elevator Pitch S7 EP1: 'My Name Is ...'
Entrepreneur
0:42
OpenAI CEO Sam Altman Denies Rumors of 'Giant Equity Stake,' Addressing Rumors at An All-Hands Meeting
Benzinga