Pfizer announces management shakeup in wake of new CEO appointment

Alexandra Rogers
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Pfizer's CEO Ian Read announced he was stepping down after nearly a decade in the job (Source: Getty)

US pharmaceutical giant Pfizer has announced a string of leadership changes following the news that chief executive Ian Read will step down at the end of the year after eight years.

Earlier this month the company announced that Albert Bourla will replace Read with a new executive team reporting to him.

They include chief financial officer Frank D’Amelio, who will also assume the leadership for Pfizer’s manufacturing operations, Pfizer Global Supply, and Mikael Dolsten, global president for worldwide research and development, who will assume oversight of the Chief Medical Officer’s role.

Read more: Pfizer boss steps down after eight years in charge of US drugs giant

Angela Hwang, group president of Pfizer’s innovative medicines unit, will become head of Pfizer’s science-based innovative business, responsible for the entire portfolio of innovative medicines, while Rod MacKenzie, executive vice-president and chief development officer, will oversee Pfizer’s regulatory affairs.

Incoming chief executive Bourla said: “We are at a pivotal moment in Pfizer’s history, with Ian Read having positioned the company with a strong portfolio of marketed products, a deep pipeline and the clear potential to accelerate our revenue growth.

“Given this opportunity to realise this accelerated growth potential, we are creating an executive team that has a proven record of success, an unwavering commitment to the patients we serve, and a clear value creation initiative. I look forward to working with these outstanding leaders to achieve the full potential of our pipeline and deliver our next stage of growth.”

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