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It could be argued that some of the decline in Pfizer's market value during this time could be attributed to the overall decline in blue chip stocks from 1999 to 2001. However, many industry analysts criticized McKinnell for diluting shareholder value with these expensive stock-for-stock acquisitions
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Pfizer was relatively conservative with regard to mega-mergers through stock-for-stock transactions through most of its history until McKinnell took the helm in 2001. Pfizer's per share price (adjusted for splits) went from about $ 50 to $ 30 from 1999 to 2006 during McKinnell's tenure. With roughly
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that obviously paid a premium for the underlying value of the acquired company. Furthermore, internal contributions to the pipeline did not replace declining value nor did these M&A activities. However, McKinnell received record compensation which he staunchly defended against critics.
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Following falling share prices, McKinnell resigned the CEO position on July 28, 2006, amid dissatisfaction from the board of directors and declining investor confidence and was replaced by
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7 billion shares outstanding, this reflects a loss in value of 140 billion dollars under McKinnell's leadership pursuing a strategy of growth via stock for stock acquisition.
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in early 1971. Over the course of the next 32 years, McKinnell climbed his way up several positions. He was named CEO as of
January 2001 and named chairman in April 2001.
253:, McKinnell received a base salary in 2005 of $ 2,270,500, and a bonus of $ 3,700,000. He also received $ 145,814 in other compensation (primarily tax payments made by
181:, Canada. He originally worked towards a degree in chemistry but later changed his declared degree to business. He earned his bachelor's degree for business from the
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on behalf of employees), and nearly $ 5.5 million in long-term incentive payouts. The value of his retirement package and
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on medicines. In 2006, several
Stanford alums asked that McKinnell be removed from an advisory board at the
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in 1965. Later, he earned his master's and doctorate in business administration (finance subfield) from
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153:(born February 23, 1943) is an American business executive, who served as the
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on that day. He was scheduled to remain as chairman until
February 2007.
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from the article and its talk page, especially if potentially
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McKinnell has, according to documents filed with the
165:from 2001 to 2006/2007. He is also a director of
215:against developing countries in disputes over
209:Woodrow Wilson Award for Corporate Citizenship
200:for three years (1969–1971). He later joined
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378:Stanford Graduate School of Business alumni
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67:about living persons that is unsourced or
138:Learn how and when to remove this message
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27:American business executive (born 1943)
368:People from Victoria, British Columbia
331:: CS1 maint: archived copy as title (
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388:American health care chief executives
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383:UBC Sauder School of Business alumni
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272:candidates. He has donated to
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179:Victoria, British Columbia
225:Stanford Business School
187:Stanford Business School
245:According to documents
155:chief executive officer
151:Henry A. McKinnell, Jr.
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157:and chairman of the
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207:In 2003 he won the
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87:"Henry McKinnell"
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310:. Archived from
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316:. Retrieved
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54:verification
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318:2017-03-07
288:References
278:John Thune
219:and other
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128:July 2009
50:citations
327:cite web
76:libelous
217:patents
167:Moody's
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