Pfizer CEO names Albert Bourla as successor

1 October 2018

Ian Read’s eight-year stint as chief executive of the world’s biggest pharma company will come to an end in three months time, when he will be replaced by current chief operating officer (COO), Albert Bourla.

Mr Read will transition from his current role as chairman and CEO to executive chairman of Pfizer’s (NYSE: PFE) board of directors on January 1, 2019.

Since taking over as CEO in 2010, Mr Read has overseen total shareholder return of 250%, outperforming the S&P 500 index by 180%, 30 drug approvals from the US Food and Drug Administration and the growth of a pipeline with the potential for some 25 to 30 new approvals through 2022, of which up to 15 could be blockbusters.

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