Pfizer Set For “Fundamental And Sustained” Change Under New CEO Kindler
Executive Summary
Newly appointed CEO Jeffrey Kindler appears to be laying the groundwork for significant changes in Pfizer's strategic direction
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Pfizer, Inc.,'s abrupt management shake-up, announced Dec. 5, comes almost a year to the day its key drug Lipitor goes off patent. Whether the timing of the changes was a coincidence or the result of accumulating pressures, the patent expiration date of November 2011 is a marker for new CEO Ian Read and portends additional changes at the world's largest drug manufacturer.
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Pfizer's election of Ian Read as president, CEO and director of the company sets the stage for a management transition at the firm, which has underperformed its peers on several measures in recent years.
Pfizer Watchers Try To Read New CEO's Next Moves
Pfizer, Inc.,'s abrupt management shake-up, announced Dec. 5, comes almost a year to the day its key drug Lipitor goes off patent. Whether the timing of the changes was a coincidence or the result of accumulating pressures, the patent expiration date of November 2011 is a marker for new CEO Ian Read and portends additional changes at the world's largest drug manufacturer.