CEO Mitch Gold, who was voted the Best Biotech CEO in 2010 by
readers, had a nightmare of a 2011. He mispriced Provenge, overestimated patient demand for the cancer immunotherapy and was wholly unprepared to deal effectively with the inevitable reimbursement concerns and questions that come with a new and novel therapy, TheStreet's Adam Feuerstein points out. 37% of the nearly 1900 voters thought he was the worst biotech CEO in 2011, with shares tanking 78% year-to-date.
Bank stocks were universally in the dumps in 2011. But
Bank of America
(BAC - Get Report)
CEO Brian Moynihan took a lot of heat this year. A lot of problems that Bank of America is facing such as a weak economy and macro-economic uncertainty is not under Moynihan's control and he can hardly be blamed for the Countrywide disaster that he inherited from his predecessors.
But Moynihan has struggled to manage shareholder expectations. The bank underestimated its likely legal losses from its mortgage exposure, so much so that many analysts have given up trying to come up with an estimate. Moynihan has also talked from both sides of the mouth, constantly telling investors the bank does not need capital, yet continuing to raise money and dilute shareholders in an attempt to put market concerns to rest.
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--Written by Shanthi Bharatwaj in New York
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