dispatches from the new world of work

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I won't make the "Arbuckle Award Dinner 2007" at my alma mater—the Stanford Business School. But I'm delighted to see that the award goes to one of our grads who got an MBA and a PhD from the biz school—just like me. It's Henry McKinnell, who just retired as Pfizer chairman. He lost $125 billion in market cap—and, like Mr Nardelli, got a "takeaway" reward of $200 million or so for that accomplishment. Now that is a record worthy of an award, I'd say.

Tom Peters posted this on 01/09/07.

Comments

yeah-- maybe that's what Stanford Business School is teaching the new generation leaders !!

Loss 125B MarketCap and take away $200M as the chump change the effort.

Its become a norm rather then the exception !

Posted by /pd at January 9, 2007 11:46 AM

Well said pd

A practical suggestion - first 3 items on all Business School MBA's as follows:

1 ETHICAL BEHAVIOUR
2 INTEGRITY
3 HUMILITY

Yes it is a serious suggestion.

Posted by Trevor Gay at January 10, 2007 5:11 AM

I just can't help but think that somewhere today is a mid level HR staffer dutifully trying to fit the companies pay for performance compensation to a bell curve. Why anyone at Pfizer or Home Depot would believe pay for performance means anything at these organizations anymore is beyond me. Yes, the CEO is responsible for producing value for shareholders, but they are also the cheif architects of the culture. Anybody who has ever been a first line supervisor has got to wonder how and why we would hold workers accountable when obviously it doesn't seem to matter.Nice culture Bob...

Posted by Mike Neiss at January 10, 2007 7:03 AM