Pfizer Puts General Counsel In Charge

Law360, New York (July 30, 2006, 12:00 AM EDT) -- Pfizer Inc.’s surprise decision to replace its chief executive with its general counsel highlights the increasingly important role played by top lawyers in the health-care industry, observers say.

In a decision that took most analysts aback, the world’s largest drug maker said Friday that its board had appointed general counsel Jeffrey Kindler as its CEO while sending predecessor Hank McKinnnell into an early retirement.

McKinnell, who had overseen a precipitous decline in Pfizer’s stock price and recently came under criticism for his generous retirement package, will...
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