Highlights
Revised Corporate Governance Principles to provide that the Board will annually elect a Chairman of the Board, who may or may not be the CEO.
Updated Lead Independent Director Charter to better reflect responsibilities of this position.
Amended bylaws to give shareholders ability to call special meetings.
Redesigned executive compensation program to align our practices with our pay for performance philosophy as well as our shareholders' interests.
The current financial crisis has brought more scrutiny than ever before to the governance of corporations. At Pfizer, we have long understood the importance of good governance to our ability to operate as a trusted member of society. That's why we established a corporate governance department in 1992ıııthe first in a U.S. companyıııand why we seek to ensure that good governance and responsible business principles are rooted in the culture and values of our organization and the way we do business every day.
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