Hard Times at Pfizer

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When Pfizer vice chair Karen Katen got passed over in her bid to become chair of the giant drug maker, she prepared to bail out and will leave the company at the end of this month. The Wall Street Journal’s Health Blog rummaged through an SEC proxy statement to add up her compensation package: “Katen’s eligible for a pension accrued over a 32-year career that, if taken as a lump sum, would be worth about $40.7 million. Her 401(k) retirement savings plan and some deferred stock are worth another $21.8 million. Add in bonuses, previously disclosed severance of $5.5 million, some stock awards and the like and you come up with the balance of the $76.8 million.” She will get an additional $178,000 for unused vacations.

Sounds like a lot, but as the Health Blog points out, Karen’s pay out seems like small potatoes compared with former chair Henry “Hank” McKinnell, who got $200 million on his departure.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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