Starboard CEO Jeff Smith Says Something Material Needs To Change At Pfizer; Asking To Massively Improve Capital Allocation; In Similar Situations Where A Company Has Underperformed Like Pfizer Has, A CEO Change Is "Not Unheard Of"
Portfolio Pulse from Benzinga Newsdesk
Starboard CEO Jeff Smith has called for significant changes at Pfizer, emphasizing the need for improved capital allocation. He suggests that in cases of underperformance like Pfizer's, a CEO change is not uncommon.
October 22, 2024 | 1:53 pm
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Starboard CEO Jeff Smith is pushing for major changes at Pfizer, including better capital allocation. He also hints that a CEO change could be considered due to the company's underperformance.
The call for improved capital allocation and the suggestion of a potential CEO change indicate dissatisfaction with current management, which could lead to uncertainty and pressure on Pfizer's stock price in the short term.
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