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Jeffrey KindlerAmerican businessman, CEO of Pfizer Corporation.
Country:
 USA |
Content:
- Biography of Jeffrey Kindler
- Early Career
- Corporate Achievements
- Leadership at Pfizer
- Retirement and Succession
Biography of Jeffrey Kindler
Jeffrey Kindler is an American businessman and the former CEO of Pfizer, one of the world's largest pharmaceutical companies. He was born on July 13, 1955, in Lynn, Massachusetts.
Early Career
Kindler received his higher education at Tufts University and later attended Harvard Law School. After completing his education, he worked as a clerk for Supreme Court Justice William J. Brennan Jr. and also worked part-time at the Washington law firm Williams & Connolly.
Corporate Achievements
Kindler transitioned into the corporate sector and began his career at General Electric Co. as a vice president and senior counsel. He then moved on to McDonald's, where he held the position of Executive Vice President of Corporate Relations and General Counsel.
In 2002, Kindler joined Pfizer as the General Counsel. He quickly became an important figure within the company, playing a crucial role in successfully navigating patent wars and the scandal involving illegal drugs.
Leadership at Pfizer
On February 24, 2005, Kindler was appointed Vice Chairman of Pfizer's board, alongside Karen Katen and David Shedlarz. This appointment marked the beginning of a competition among the three for the role of CEO.
Despite Katen's extensive commercial experience and leadership in healthcare, it was announced on July 28, 2006, that Kindler would succeed Hank McKinnell as the CEO of Pfizer.
During his tenure, Kindler led Pfizer through significant changes, including the acquisition of pharmaceutical group Wyeth for $68 billion in 2009. However, the acquisition did not have the desired positive impact on the company's stock price, which led to criticism of Kindler's leadership.
Retirement and Succession
Kindler announced on December 5, 2010, that he planned to retire from his position as CEO and Chairman of Pfizer after nine years of service. The company's leadership held a meeting to discuss potential successors, with Ian Read being the most likely candidate. However, Kindler disagreed with this choice and refused to appoint Read as the Chief Operating Officer.
Hours before a special board meeting, Kindler announced his departure from the company. Shortly after, Read was appointed as his successor. Kindler had lost the support of the company's leadership and faced criticism from investors for the decline in Pfizer's stock price during his tenure.
