The Emperor Has No Clothes?
Everyone should prepare for a very crappy 3rd Quarter Performance Report.
When and if this goes as expected, one has to wonder... will the Pfizer board hold Kindler and his management team accountable for these results? Kindler inherited a bag of sh*t and he can't be blamed for the torcetrapib debacle, but one year has passed since McKinnell was tossed and there is absolutely no indication that this CEO and his team are capable of anything except dramatic organizational announcements and job cuts. Where's the long-awaited business strategy and vision? Why did it take over a year to figure out a strategy to reform PGRD? Does anyone except Jeff and the ELT believe these changes will yield meaningful results anytime during the next 5 years?
You can't keep 90,000+ employees in a constant state of transition, demand organizational agility and speed, spend over 12 months building expectation that the leadership is thinking through an innovative business plan to improve the situation, then fail to deliver anything that resembles a detailed vision for the future of Pfizer. At some point, management needs to tell Pfizer's investors and employees what they plan to do and when they plan to do it.
Time's up Jeff. It's time to deliver your plan, or it's time for new leadership.