Cyrus Taraporevala
PFIZERAbout Cyrus Taraporevala
Independent director at Pfizer since 2024; age 58. Former President & CEO of State Street Global Advisors (2017–2022), bringing deep investment management and capital markets expertise. Currently serves on Pfizer’s Audit and Compensation Committees; the Board determined he is independent. External public company directorships include Shell plc; background also notes a directorship at Bridgepoint Group plc and non-profit board roles (GBH; The Trustees of Reservations). Joined Pfizer’s Board in June 2024 via the Board’s refresh to add financial markets and capital allocation expertise.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| State Street Global Advisors | President & CEO | 2017–2022 | Led global asset manager across active and index strategies; expertise in capital markets and long-term value creation. |
| Fidelity Investments; BNY Mellon; Legg Mason; Citigroup | Senior leadership roles in asset management | Not disclosed | Built extensive financial expertise across major institutions; global business management experience. |
| McKinsey & Company | Consultant | 14 years | Strategy and operations advisory experience supporting leadership effectiveness. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Shell plc | Director | Not disclosed | Listed as current public company board in Pfizer proxy. |
| Bridgepoint Group plc | Director | Not disclosed | Identified in Cyrus’s background section of Pfizer proxy. |
| GBH (public media) | Trustee | Not disclosed | Non-profit governance. |
| The Trustees of Reservations | Trustee | Not disclosed | Non-profit governance. |
Board Governance
- Committee assignments: Audit Committee member; Compensation Committee member; not a chair. In 2024, Audit met 11 times; Compensation met 7 times.
- Independence: Board determined all directors other than the CEO are independent, including Cyrus Taraporevala.
- Attendance and engagement: The Board met seven times in 2024; each director attended at least 75% of Board and committee meetings on which they served.
- Tenure on Board: Director since 2024; elected in June 2024 as part of Board refresh to enhance capital allocation and financial markets oversight.
Fixed Compensation
| Year | Cash Retainer ($) | Stock Awards ($) | Other ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 79,148 | 169,616 (pro-rated stock units at grant; $27.80 close on 6/27/2024) | 20,000 (Pfizer Foundation matching gift) | 268,764 |
- Director compensation program: $155,000 annual cash retainer; $205,000 annual stock units; committee chair fee $30,000; Lead Independent Director fee $50,000; stock ownership guideline = 5x annual cash retainer ($775,000). Aggregate annual cap (cash+equity) ≤ $800,000 under the 2019 Stock Plan.
- Stock ownership guideline compliance: “Currently all Directors comply”; new directors have 5 years from election to meet guideline.
Performance Compensation
| Component | Performance Metrics | Notes |
|---|---|---|
| Non-employee director pay | None disclosed | Pfizer’s director compensation is retainer-based (cash + stock units); no performance metrics tied to director compensation are disclosed in the proxy. |
Other Directorships & Interlocks
| Company | Role | Committee Roles (if disclosed) | Potential Interlocks/Conflicts |
|---|---|---|---|
| Shell plc | Director | Not disclosed | No Pfizer-related party transactions disclosed involving Cyrus; Board confirms independence. |
| Bridgepoint Group plc | Director | Not disclosed | Same as above. |
- Related party transactions: Governance Committee reviewed related person transactions; no items disclosed involving Cyrus.
- Compensation committee interlocks: None for any members in 2024.
Expertise & Qualifications
- Business leadership, international business, finance & accounting, risk management, human capital management; brings investor/asset management perspective and sustainability insights.
- Selected for Board refresh to supplement skills in financial markets, investment management, and capital allocation aligned to Pfizer’s strategic priorities.
Equity Ownership
| Instrument | Amount |
|---|---|
| Common stock | 10,000 shares |
| Deferred stock units (director program) | 9,084 units |
- Hedging/pledging: Company policy prohibits directors from hedging or pledging Pfizer stock; none of the directors has pledged Pfizer stock.
- Ownership as % of outstanding: Directors and executive officers as a group beneficially own <1% of outstanding shares. Individual percentages are not disclosed.
Governance Assessment
-
Board effectiveness signal: Appointment in 2024 adds seasoned asset-management and capital markets expertise to Audit and Compensation oversight amid margin expansion and capital allocation priorities; strengthens investor confidence lens.
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Independence and conflicts: Determined independent; no related-party transactions disclosed with Cyrus; hedging/pledging prohibitions in place.
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Engagement and attendance: Meets attendance thresholds; Board ran seven meetings in 2024; committees with material meeting cadence (Audit 11; Compensation 7).
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RED FLAGS: None disclosed specific to Cyrus (no related-party ties; no hedging/pledging; no committee interlocks). Company-wide 2024 equity award modifications for employees were proactively discussed with investors, but do not pertain to director pay.