Pfizer persuades CEO Ian Read to stay on for 1 more year, adding $8M bonus and bumping pay package to $28M
Fretting over the idea that Pfizer CEO Ian Read might decide to retire or jump ship sometime in the next year, the board has OK’d a special, $8 million incentive bonus to keep him in the executive suite until next March.
The pharma giant’s proxy, filed with the SEC, spells out some longterm talks that have been going on at Pfizer. Read, 64, is at retirement age, after spending 40 years at the company, joining back in 1978 as an auditor.
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