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PFIZER NAMES EDWARD BESSEY PRESIDENT OF U.S. PHARMACEUTICALS

Executive Summary

PFIZER NAMES EDWARD BESSEY PRESIDENT OF U.S. PHARMACEUTICALS business, effective Jan. 1. Under the continued reshuffling of corporate management responsibilities stemming from the upcoming retirement of Chairman Edmund Pratt and the retirement last year of President Gerald Laubach, Pfizer announced on Dec. 17 that Bessey, currently exec VP responsible for the company's hospital products and consumer products groups, will assume responsibility for Pfizer's U.S. pharmaceuticals business. He will also retain responsibility for consumer products. Bessey has been with Pfizer since 1964. He was promoted to head of Pfizer Labs in 1972; he moved to Brussels in 1977 when he was named exec VP-Pfizer Europe; and, in 1980, he returned to the U.S. as exec VP-Pfizer Pharmaceuticals. In 1982, Bessey was named head of the company's hospital products business and became a corporate officer of Pfizer. He was elected to the board of directors in 1987 and was named corporate senior VP in 1989. Earlier this year, Bessey was named a corporate exec VP and given the added responsibility for Pfizer's consumer products. Bessey assumes responsibility for Pfizer's U.S. drug business from Pfizer President and CEO William Steere, who has continued to hold that position since his promotion to the top management slot at the company in February. Succeeding Bessey as head of the hospital products group is current Pfizer VP and Chief Financial Officer Henry McKinnell, PhD, who will add the title of hospital products group president and retain the title of CFO. Pfizer Pharmaceuticals VP-Finance David Shedlarz will assume the title of VP-finance for Pfizer, Inc. with responsibility for the company's tax, treasurer and controller functions. Pfizer also announced that it is realigning its hospital products business due to the "continued growth of Howmedica, the divestiture of Pfizer Laser Systems and Deknatel, and the announced plans to divest the Shiley product line." Pfizer noted that "Howmedica has matured to the point where it is essentially a self-sufficient unit within the hospital products group and will continue to operate under the leadership of David Fitzgerald, president of Howmedica and executive VP of the hospital products group." The remaining businesses in the hospital products group, Pfizer said, will be named the medical devices division effective Jan. 1 under the leadership of President-Medical Devices and Exec VP-Hospital Products Group Gerald Schulze. Both Fitzgerald and Schulze will report to McKinnell. McKinnell joined Pfizer in 1971 as assistant to the president of the company's Japanese subsidiary, Pfizer Taito. He was country manager for Iran/Afghanistan from 1973 to 1977, when he moved to Pfizer Asia, based in Hong Kong. There, he moved up the ladder to president of Pfizer Asia. In 1984, McKinnell was promoted to VP- strategic planning and in 1986 was named a corporate officer. He has served as VP-finance and CFO since last year and was named to the company's corporate management committee earlier this year. Pfizer also announced the promotion of seven top managers to corporate VP, including Fitzgerald, Schulze and Shedlarz, as well as Gary Jortner, VP and general manager of Pfizer Labs, Karen Katen, VP and general manager of Roerig, and Pfizer International's Brian Barrett, president-Asia/Canada, and Victor Micati, president-Europe.

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