Word: mckeen
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Dates: during 1960-1969
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...largest ethical drug company, followed the overseas route to executive leadership. As its new president and chief executive officer, it picked John J. Powers, 52, the chief of its international operations for the past 14 years. Powers takes over as Pfizer's boss from John E. McKeen, 61, who will retain his position as chairman...
...McKeen's 16-year term as president will be a tough act to follow. Under his leadership, Pfizer grew from a $47 million specialized drug firm in 1949 into a highly diversified company whose sales reached $480 million last year. Powers, however, has already demonstrated his talent in an important supporting role. In 1951, impressed by Pfizer's growing number of unsolicited foreign orders-, which accounted for $10 million annually in sales-he persuaded McKeen to allow him to begin building an overseas operation. "I figured that if we could do $10 million worth of business without seeking...
...wide acceptance, especially in developing nations. In Nigeria, Pfizer has two plants and is building a third to make animal feed for the country's expanding agriculture, also produces badly needed Pharmaceuticals and molded plastics. "There is a little bit of the Peace Corps in us," says McKeen, "and we get a profit from...
...Five-by-Five. McKeen had clearly prescribed the right medicine: the company last year set profit records for the eleventh consecutive year. With 68 plants scattered around the world-and ten more planned for the next year or two-it is now one of the world's top producers of animal medicines and feed supplements and of chemical additives for food and beverages. It is the third largest company in the U.S. fragrance market and in the manufacture of lipsticks. Overseas sales have grown so fast that they now account for nearly half of Pfizer's total, have...
...chemical engineer who began his career at Pfizer as a $25-a-week control chemist, McKeen has surrounded himself with bright executives and given them complete authority to make their own decisions. He has set a goal that everyone in the company knows as "five by five"-$500 million in sales for Pfizer...