Pfizer shakes up management team in lead up to CEO transition

Pfizer on Tuesday announced the executive team that will report to incoming CEO Albert Bourla, who is slated to replace Ian Read as head of the company on January 1. "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," said Bourla, adding that "given this opportunity to realise this accelerated growth potential, we are creating an executive team that has a proven record of success."

Among the changes, chief financial officer Frank D'Amelio's responsibilities will now include heading Pfizer's manufacturing operations, while Mikael Dolsten, global president of R&D, will also assume oversight of the chief medical officer's role. Angela Hwang, group president of Pfizer's innovative medicines unit, will lead the company's science-based innovative business responsible for the entire portfolio of innovative medicines, while chief development officer Rod MacKenzie adds regulatory affairs and all late-stage development activities to his list of responsibilities.  

Pfizer is also appointing a chief digital officer to bolster its digital capabilities "given the growing strategic importance of deploying digital technologies in research, discovery and business processes." Lidia Fonseca, currently chief information officer at Quest Diagnostics, has been hired to join Pfizer as its chief digital and technology officer in January. Meanwhile, Pfizer's chief medical officer Freda Lewis-Hall will assume a new role as chief patient officer, while current chief business officer John Young will gain a number of new responsibilities, including head of strategy, business development, portfolio management and valuation activities, as well as global commercial operations, and he will also take on oversight of Pfizer's consumer healthcare. 

The drugmaker added that the president of its global supply unit, Kirsten Lund-Jurgensen, will be retiring at the end of the year, while Laurie Olson, executive vice president of strategy and commercial operations, will retire effective January 1, 2019.

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