Activist Investor Starboard Value Accuses Pfizer Of Pressure Former Execs To Halt Support For Its Campaign

Benzinga

Activist investor Starboard Value accused Pfizer of pressuring its former CEO Ian Read and ex-CFO Frank D’Amelio to halt support for Starboard’s turnaround campaign. Starboard’s Jeff Smith revealed the company allegedly threatened to claw back compensation and cancel unvested shares. Smith urged Pfizer’s board to investigate, calling the actions unethical and breaching fiduciary duties. Starboard claims that Bourla’s leadership hurt Pfizer's with its cost management structure and focus on mergers and acquisitions.

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00:00It's Benzinga, and here's what's on the block.

00:02Activist-investor Starboard Value accused Pfizer of pressuring its former CEO Ian Reid

00:07and ex-CFO Frank D'Amelio to halt support for Starboard's turnaround campaign.

00:13Starboard's Jeff Smith revealed the company allegedly threatened to claw back compensation

00:17and cancel unvested shares.

00:19Smith urged Pfizer's board to investigate calling the actions unethical and breaching

00:23fiduciary duties.

00:25Starboard claims that Borla's leadership hurt Pfizer's with its cost management structure

00:29and focus on mergers and acquisitions.

00:32For all things money, visit Benzinga.com.

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